Newer and more affordable rates for Medicare Supplement Plan F
As a senior citizen enrolled in Medicare, you have probably just learned that you could benefit greatly from having Medicare supplemental insurance. While we are extremely fortunate to have a system such as Medicare in place, the fact remains that it does not provide conclusive coverage. After Medicare pays its’ allotted 80% of approved expenses, members are left with the remaining 20% that becomes their own responsibility. Paying the remaining balance directly out-of-pocket is, of course, one option. However, if you are of the majority who cannot afford to do just that, Medicare Supplement insurance is the right choice for you.
Medicare Supplement Plan F is the Medigap policy that will provide you with the most extensive secondary health coverage available. Although you will have a monthly premium payment, you will never have to pay any co-pays whenever you attend to doctor or hospital visits. Medicare Plan F completely fills the gap that Medicare leaves behind. Although comprehensive, there are a couple of things that are not covered by Plan F. Preventative Care and At Home Recovery are not included in this particular plan’s resume of benefits.
Secondary Medigap insurance policies are standardized across the nation. No matter if you choose to purchase your Medigap Plan F policy from one company or another, it will still carry the same exact benefits. Contrarily, different companies do not have to quote you the same price. In fact, premium rate quotes actually vary quite a bit. Comparison shopping is the key to obtaining the most affordable rates. Many of A.M. Best’s top rated companies, like Puritan, offer free personalized quotes to make your buying experience easier.
Premium quotes are based largely on a few common factors.
- Health– Your current health status makes a difference. If you are anticipated to have a need for ongoing medication or treatment, you could be quoted a higher premium than others.
- Zip Code– If you live within certain regions, you may be eligible for a discounted rate.
- Gender– Studies have shown that certain chronic illnesses are more likely to be present in those of a specific gender.
- Tobacco– Those who use tobacco products prove to be a greater risk to insurance companies. It is a known fact that the usage of tobacco leads to health issues.