Medicare Supplement Plan F - Best Plan, Best Benefits

By Author: Tyra Phillips
Total Articles: 78
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It is no wonder why Medicare Supplement Plan F is the most popular health insurance plan available to seniors over 65 years old.   The benefit package is very comprehensive and almost every insurer offers this plan, making it very affordable in most areas.  While Medicare Supplement Plan F might be the best option available, finding the best company can be difficult.

The most important thing to know about Medicare Supplement Plan F is that both the Medicare Part A and the Medicare Part B deductible are paid for by this plan.  The Medicare Part A deductible is for hospital care and is $1100 for 2010.  The Medicare Part B deductible is for medical and physician services and is $155 for 2010.   When you purchase Medicare Supplement Plan F, you will never have to worry about these costs.

The second most important thing to know about Medicare Supplement Plan F is that this plan pays the 20% coinsurance that Medicare does not pay.  This benefit is for both Part A and Part B, both hospital and medical services.  In addition, Plan F covers Part B excess charges, meaning people who purchase ...
... this plan rarely have any out of pocket costs for any services.

Another key reason people like Medicare Supplement Plan F is for the Foreign Travel benefit.   This enables people to have affordable medical care while in other countries.  While there is a deductible and coinsurance when receiving medical services in a foreign country, people have peace of mind knowing they will have some coverage.

Medicare Supplement Plan F is standardized by the Center for Medicare Services, which means every insurance company offers the same exact benefits.  For example, Medicare Supplement Plan F offered by AARP is the exact same as Medicare Supplement Plan F offered by Mutual of Omaha.   The key to purchasing Medicare Supplement Plan F is shopping multiple companies to make sure you get the price.  Keep in mind that although getting the best price is important, there are also other factors to consider when choosing your company such as financial stability and customer service.

Medicare Supplement Plan F is guaranteed renewable, which is extremely important especially for people who need medical services and may not be in the best health.  You can apply for Medicare Supplement Plan F without answering any health questions as long as you are in your open enrollment period, which begins on the first day of the month in which you are both 65 AND enrolled in Medicare Part B.    As long as you pay your monthly premium the insurance company can never cancel your policy, which means they will pay all benefits regardless of how many medical services you need or how expensive your medical bills are.

Medicare Supplement Plan F is the most popular and the most comprehensive plan, but there are several things to consider when making a purchasing decision.   Two new plans have been introduced to the marketplace and prices are changing all the time.  Experts recommend you contact a national insurance broker to compare all insurance companies and get an honest opinion about which plan to buy.  A knowledgeable expert may be able to provide insight into things most people do not consider such as customer service and rate increase history.