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The Puritan Advisor*

Why is Medigap Plan F the Most Comprehensive?

Mar
13

by Jason Elwonger on March 13, 2012

Why is Medigap Plan F the Most Comprehensive?

As a senior citizen enrolled in Medicare, you have probably now learned that Medicare will be your primary source of health insurance as it covers 80% of the approved medical expenses you may incur. You have a couple of different options for filling the 20% gap that is left behind by Medicare. One option, of course, would be to pay using money from your own pocket. However, if you prefer to save as much money as possible, you may want to obtain a Medicare Supplement policy.

Popular Medicare Supplement policies provide:

  • Freedom to choose which doctor or hospital you go to. No network restrictions so you don’t have to change physicians.
  • Ability to predict your health expenses for a full calendar year in order to properly budget your money.
  • Little to no out-of-pocket expenses for your healthcare needs. Medigap policies will fill the coverage gaps left behind by your primary Medicare insurance.

               Medigap Plan F

Medigap Plan F was nicknamed the “Cadillac” policy because it covers the gap in Medicare completely, leaving you without any out-of-pocket expenses whatsoever. If you are someone who can expect to have several doctors appointments scheduled throughout the year for ongoing medical treatment or medications, Medicare Supplement Plan F will save you money. With Plan F, you have one flat monthly premium payment. Once you have paid your premium amount, everything else is taken care of for you. You won’t incur any co-payments or have to satisfy any deductibles. Imagine just how much you might save in co-payments if you are to visit the doctor a dozen times in one year!

Plan F is considered to be the most comprehensive Medicare supplement policy available because it, literally, covers everything you could ever want your Medigap plan to cover. While Plan G is comparable, you would have a small deductible of $140 to satisfy. Medicare Supplement Plan G will come with all of the benefits offered by Medicare Supplement Plan F with the exception of the difference in deductible. Not every health insurance policy is right for everyone. You should determine what kind of benefits you will require considered in correlation with your budget requirements when deciding what plan might be best suited for you. If you find that you do not need a secondary insurance policy quite as comprehensive as Plan F or Plan G, Medicare Supplement Plan N is a very popular and affordable alternative.



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