If you want to lower your out-of-pocket health care costs, Medicare Supplement Insurance might be right for you. But which policy offers the most coverage? This is what you need to know about the broadest Medicare Supplement Insurance Plans.
What Is Medicare Supplement Insurance?
Medicare Supplement Insurance helps Original Medicare beneficiaries pay out-of-pocket costs associated with their health care coverage. A Medicare Supplement Insurance (Medigap) policy can be used to pay for expenses like copayments, coinsurance, and deductibles and may also pay for additional costs like pints of blood. There are ten Medigap plans currently available, each offering a unique package of benefits.
Which Medigap Plans Offer The Most Coverage?
Medigap Plan F is inarguably the most comprehensive Medigap plan available to date. Though, this translates to it being the most expensive as well. Still, Medigap Plan F is still highly popular amongst Medicare beneficiaries. The plan is highly valuable though, as it leaves enrolled with little to no out-of-pocket costs after Medicare pays their approved amount.
What Does Medigap Plan F Offer?
Medigap Plan F has a range of useful benefits. They include the following:
- Part A deductible paid
- Part A Coinsurance costs paid
- Part A hospice care copayment and coinsurance paid
- Skilled Nursing Facility coinsurance paid
- Part B coinsurance paid
- Part B deductible Paid
- Part B excess charges paid
- Foreign travel emergency
Medigap Plan F High Deductible
If you prefer to pay lower premiums, a high deductible Medigap policy may be right for you. Some insurance providers offer Medigap Plan F in a high deductible package that allows you to pay lower premiums, in exchange for a higher deductible. With the high deductible policy, your Medigap benefits will not kick in until you reach that set deductible.
Find Medigap Coverage
If you need Medigap coverage, start shopping now. Plan F is very comprehensive, but you may be interested in a different plan. The Medicare experts at The Fussell Group can help you find a plan that fits your needs. Reach out to them now to get started with a consultation.