Is there a need to avail supplement plan F?

Among the different Medicare Supplement Plans 2018 made available to the public, it is Plan F that is regarded to be the most popularly purchased. Most insurance companies as well as their agents are known to lay emphasis on this particular plan. But the question that is asked by many is, whether the plan is the best option to be availed or not.

Some guidelines to determine if plan F is right or not

When checking out Medicare Supplement Plans 2018, it is quite essential to know more about plan F and get the details.

  • How its premium fares with low tier plans like G and D: Generally, Plan F is found to be high priced one among all Medicare Supplement Plans 2018, except Plan J. With low tier plans, it is possible to save around $20 to $30 every month. But this might not appear much on monthly basis, however, could add up to a good amount of savings annually.
  • Enjoying low premiums by shelving out small expenses like Part B Medicare deductible: The low tier plans such as G and D are not known to cover Part B Medicare deductible annual amount. This effectively means that the initial amount which is charged on the person annually for Part B Medicare charges (which includes physician services and fees) is likely to be his responsibility. Doing some simple math calculation can help the person to determine if the low plan based premium savings will offset the annual charge or not. If even a small amount is saved on the premium on a monthly basis, in course of the year, the person stands to better financially by availing any of the low tier plans.
  • Is Medicare assignment accepted by hospitals and physicians in the area: Among the three standard Medigap plans providing full coverage on Part B additional charges, Plan F is regarded to be one. Excess Part B charges tends to occur as Medicare assignment (or Medicare amount paid for specific procedures and services) is not accepted by the physician or doctor. But in many areas, physicians and doctors are found to accept assignment. Payment is made to them strictly based on the Medicare prescribed fees or schedule for the offered services or procedures. In case, the physicians in the region that is generally to be used are found to accept assignment, then much weight in benefits will not be found in the decision.

Therefore by going through the above guidelines, it becomes possible to determine the right type of plan to be purchased from the different Medicare Supplement Plans 2018. Check out Medigap Plan guide today.