When you look at your medical expenses and see that they are too much for you to handle and you wonder if a supplemental plan is the way to go, you might consider Plan F. But one look at its premiums may convince you that it is the wrong plan for you. However, there is a cheaper alternative that offers the same coverage, if you are interested. That’s High Deductible Medicare Plan F for 2018.
Now, High Deductible Plan F may not always be less expensive than regular Plan F. The premiums you pay out each month will definitely be less expensive, but you will have to pay a lot for that deductible when it is due ($2,180, to be exact). That’s a tradeoff you need to think carefully about. While regular Plan F has very high rates, those may not seem so bad if you are paying for that deductible over and over again. It’s a good idea to consult with your doctor about your health and what your coverage needs are before you decide on an insurance plan.
What It Covers
High Deductible Plan F comes with a lot of coverage. If you are familiar with the standard Plan F, then you should know that High Deductible Plan F offers you the exact same coverage. There is no difference in what medical expenses are covered and what aren’t with the two plans. The difference is in the cost of the plan.
For those who don’t know, Medicare Supplement Plan F is a full-coverage plan. That means that High Deductible Plan F is full coverage as well. There are no supplemental expenses left over once it provides its coverage.
That coverage includes taking care of most every copayment and deductible. You will still have to pay a deductible for the foreign travel exchange and the high deductible that come with the high deductible plan. The plan also covers you for the Medicare Part B excess charges, for nursing care coinsurance, for more pints of blood every year than Medicare covers and for foreign travel exchange. The final coverage from High Deductible Plan F in 2018 takes care of 365 days of hospital expenses. That’s coverage beyond what Medicare offers, filling in the gaps that Medicare leaves behind.
This comprehensive coverage is exactly why so many people like high deductible Plan F or any version of Plan F. They know that with that coverage they don’t have to worry too much about their hospital expenses. Their coverage plan will take care of most of that for them. However, the high price of Plan F is what puts off most people from buying it, which is why High Deductible Plan F’s lower premiums are so attractive.