Medigap Plan F
Medigap Made Easy
Note: Medicare Plan F is no longer available to those who are eligible for Medicare after January 1, 2020.
Ashford Insurance offers a selection of Texas Medicare Supplement Plan F’s in from many top carriers including UnitedHealthcare® Medicare Solutions.
Medicare Supplement Insurance, also called Medigap coverage, protects people who buy traditional Medicare against many of the additional costs a patient might pay. In return, Medigap charges a premium in addition to what the person already pays for Medicare Parts A (many people get this free), B, and D.
Texas Medicare Supplements are standardized by the Federal Government. They are labeled A, B, C, D, F, G, K, L, M, and N. Each standardized Medigap policy must offer the same basic benefits no matter which insurance company sells it. Cost is usually the only difference between Medigap policies with the same letter sold by different insurance companies. Plan A pays the Medicare hospital and physician coinsurance, the first three pints of blood, and 365 days of hospitalization beyond Medicare. Plans B through N provide these benefits and add more benefits such as coverage for Medicare deductibles, excess charges and limited preventive care, and foreign travel. You can only have one Med Sup plan. No one should try to sell you an additional Medsup plan unless you decide you need to switch policies.
Texas Medicare Supplement Plan F
Plan F tends to be a popular pick for most people because it actually offers a lot more coverage than other supplement plans. It is important to notice that there are two types that are different. There’s the standard Plan F and another one that has the same benefits as the standard but comes with a higher deductible. This means if you were to choose the higher deductible which you would need to pay a certain amount of money ahead of the coverage would even begin. Call us for a free quote on Plan F today!
Benefits which might be included with all the Plan F include all of the following:
- Part A Medicare coinsurance along with hospital costs along with an additional year of coverage after your Medicare benefits have been used up.
- Covers the coinsurance or copayment of hospice care that Part A doesn’t cover.
- It covers the Part A deductible.
- Pays for the deductible for Part B.
- If there are any Medicare Part B extra charges this plan will cover these charges.
- If you require blood, this plan will cover the first three pints of blood needed.
- If you are in a skilled nursing facility it will cover the coinsurance amounts that might be required.
- Will cover any emergency coverage that might be needed during foreign traveling.
Should you decide which you want to pick the higher deductible plan then you will be required to pay for all the out of pocket costs until you’ve reached a certain amount the original Medicare does not cover. But, by choosing the higher deductible plan you could end up paying a much lower monthly amount than with the standard Medigap Plan F.
Since Plan F does offer the largest amount of benefits, normally it’ll be the most expensive plan, however, in the event you shop around you can find a plan that’s less expensive.
Open Enrollment for Texas Medicare Supplement Insurance is at age 65 for all consumers, including those already receiving Medicare due to disability. The Open Enrollment period is a six-month period, beginning when you are both age 65 or older and enrolled in Medicare Part B, companies must sell you any Medicare supplement plan they offer. After this limited open enrollment period, companies can pick and choose whom they will cover and how much they will charge based on your health. If you have an individual or “bank group” insurance policy, becoming Medicare eligible does not require you to cancel it and purchase a Medicare supplement. Doing so may save premium costs but it is important to compare benefits before deciding which will work best.
If you are eligible for employer retirement insurance, review the plan carefully to understand what benefits are available and how it works with Medicare. Be aware that employer plans are not standardized and are not subject to the requirements governing standardized Medicare supplement policies. Also, it is important to remember, if you leave an employer plan you may not be able to go back on it.
To see a list of all the Medicare supplements available – take a look at our Medigap supplement chart. This chart can be found in the booklet called “Choosing a Medigap,” which is published by Medicare itself. The chart details the benefits that are included in each Medicare supplement, which are labeled Plan A – Plan N.
Sarah began working in the healthcare industry in 2001, where she worked for many years with elderly Alzheimer and Dementia patients. From there she worked as a Group Benefits Administrator with a local healthcare company in the Human Resource Department for a period of 10 years. Since then, she has decided to work in the Medicare insurance industry full time and has joined the family business, Ashford Insurance, as a Medicare Insurance Agent.
Need help? Call us for an appointment at (817) 952-3153
* A licensed sales agent may call or e-mail as a result of completing the information to discuss Medicare Advantage, Prescription Drug Plans or Medicare Supplement Insurance.