Medicare’s Plan F may be more expensive than you can afford, but you may still be interested in the kind of coverage it offers you. There may be a way to afford it, if you go with High Deductible Medicare Plan F in 2018. This plan offer all the same coverage as the regular Plan F, but with cheaper premiums.
Of course, it’s not just the same plan made cheaper. You have to pay a hefty deductible when you sign up with High Plan F. The lower premiums are countered with a $2,180 deductible. You may save money by choosing to go with the high deductible version, but you definitely want to compare the two and make an informed decision.
What Gets Covered
Maybe you already know what Plan F covers or you may just know it to be a full-coverage plan. Either way, it’s good to clarify what this plan does and what it covers for you. You want to be sure you know exactly what you are getting and what you are paying for.
High Deductible Plan F will cover you for Medicare Part A’s coinsurance for nursing care and the general hospital expenses coinsurance, plus for 365 days of hospital costs. That coverage is in addition to what Medicare covers in hospital costs, and it won’t provide full coverage for every cost. It just takes care of a large portion of them. So, while the plan is listed as full coverage, the title actually refers to it fully covering everything that is listed as a supplemental expense and not every medical expense you may have.
High deductible Plan F for 2018 will also cover you for the Medicare Part B coinsurance and the Part B excess charges and deductible. You also receive coverage for the Medicare Part A deductible. That’s all the deductibles covered for the most common expenses. Once you have those taken care of, you shouldn’t have very many out-of-pocket costs.
Further coverage from High Plan F comes in the form of coverage for some pints of blood. While Medicare covers you for some of your blood, if you go over its limit, you can get coverage for three more pints each year through Plan F.
The plan also covers you for up to 80% of your foreign travel exchange. It might seem odd that it doesn’t cover you all the way, but no other supplemental plan covers this expense entirely either. You will have to pay a deductible as well to go along with that expense.
Will It Save You Money?
The big question with High Plan F is will it actually cost you less overall than if you were to go with the regular Plan F? The answer is that it depends. The monthly premiums on Plan F can be quite expensive. Obviously, with High Deductible Medicare Plan F they are much cheaper. How much cheaper will depend on where you buy the plan from. You can get this plan from insurance companies the same way you would with Plan F or any other supplemental plan. They all charge different prices, and it is in your best interests to compare those prices and find the lowest one you can.
So, while the premiums are lower with the high deductible plan, that deductible is quite expensive. You have to try to predict whether you will pay that deductible often or not. Paying it more than a few times per year can put your total medical expenses up to the same place they would be if you were paying for regular Plan F. In other words, if there is a good chance that you will be in and out of the hospital all year, then the high deductible version of the plan may not be the best way to go.
You can talk to your doctor and find out what you should expect from your health in the coming years and then choose your plan accordingly. If your health changes for any reason, it may be a good idea to reconsider your plan and try to get one that fits your new situation. There is no point in hanging onto the old coverage plan if your needs have changed so much to have outgrown it.
When you are trying to find the cheapest way to cover your medical expenses, you need to be looking at the different trades charged for the same plan. Once you decide which plan you want to go with- Plan G, High Plan F or something else- then you need to compare prices on that plan across multiple providers. You can do that a few different ways, but only one way is quick and simple.
If you come to our website, you can find out how much is being charged for High Deductible Plan F. You don’t have to do a lot of searching or talk to several insurance companies. We’ll ask for a few simple details regarding what you are looking for and then find you an answer in moments. You will be able to see the cost of the plan across several different insurance companies all at once. It could not be easier.
This is completely free to you. There is never any obligation to go with any of the quotes we provide, and you never have to pay us for this service. You can simply come here and find out prices to make a more informed decision. It really is the best way to save money on the plan you want.
We urge you to come back as often as you need to in order to keep up with changing prices. The rates you see on our site one month may not hold steady for the next couple months. It’s a good idea to keep checking as you get closer to when you actually want to buy the plan. A lot of people use our site to track rates for High Deductible Medicare Plan F in 2018 until they are prepared to sign up for the plan.