As you all know the Medicare Supplement Plan or Medigap is a private insurance policy that helps you with the unexpected out-of-pocket costs in health care. It fills the gaps of the original insurances and that’s where the name comes from.
The healthcare supplies and services are usually covered by the original supplement plans but there are still some things that they don’t cover. The remaining health care costs such as deductibles, coinsurance and copayments are not given in the original plans. That’s why lots of people decide to buy additional plans which give their share when other unexpected costs appear. There are so many medical plans available out there and you can choose the one that is the most suitable for you. But you should have in mind that you have to have Medicare Part A and Medicare Part B prior to having other plans. You can choose between 10 different plans which are labeled with a different letter.
Everyone’s talking that you can’t use Plan F anymore, so if you keep reading you will have the chance to see whether the Medicare Supplement Plan F is really going away.
Medicare Supplement Plan G
The most embraced Medicare Plan ever was the Medicare Plan F but as of January, 2020 it is not available for everyone who is enrolling in original Medicare. As a result, those of you who have become eligible for health care until the beginning of 2020 will be able to use the Plan F in the future, but those who became eligible after January 2020 aren’t allowed to use it. This is due to legislative reasons that don’t allow the insurance plans to cover the Part B deductibles. The next best alternative or a plan that provides almost the same coverage as Medicare Plan F is Medicare Plan G. Everything is the same except that the Plan G doesn’t cover the deductibles as I said before.
Do you know what the cost of the Plan G deductible is? It’s $2,340. When you choose a deductible as high as this, your monthly premium will be possibly low.
How to get a Medicare Supplement Plan F?
The only way to get this plan now is to purchase it through a private insurance company. The costs of this plan differ according to the place where you live, so the first information that you are required to give is your ZIP code. The monthly price for Plan F is usually not higher than $40 which is not expensive at all.
Closing
If you are looking for a way to protect yourselves from high healthcare costs you should definitely consider purchasing one of these plans. They are amazing since they cover costs that the Original Medicare doesn’t cover. There are so many companies that sell the plans, so it doesn’t really matter from which one you will get it because the benefits are the same and they are standardized by the government. Keep in mind that you can switch through plans every year and exploring the best plan for you is a smart thing to do.
