It’s pretty much obvious that Original Medicare covers about 80% of the hospital and medical expenses. Part A and Part B make up Original Medicare and offer hospital and medical insurance respectively. Other expenses that are not covered by Part A and B are catered for by Supplement insurance coverage (Medigap).
The most popular supplement insurance plan
Most people who use the traditional Medicare as well as the supplement to cover themselves against the gaps found in the program usually choose Medigap Insurance Plan F. Once you have Medicare eligibility and enroll on a plan, you automatically qualify for Medigap.
Out of the population that decides to purchase Medigap, 66 percent actually choose Plan F. this is according to data from a trade group, American Association for Medicare Supplement Insurance. This is in spite of the fact that it is the most expensive.
In spite of the fact that it is the most expensive, many beneficiaries will continue to pay the premiums month after month without getting the worth of their money. That doesn’t make it a bad plan for some reasons.
This is because Plan F covers everything on the coverage chart of Medicare. If you are in a position to afford it, there’s certainly no reason as to why you should not pay a little more and keep all the stresses of health care costs at bay.
Plan F covers all the deductibles of Part A. Hospital stay costs are as well catered for by Plan F. If you spend more than 60 days in the hospital, you’ll pay an Original Medicare coinsurance of $322 a single day. If you have Medigap Plan F, you will end up saving $9,450 in a single year. For hospital stays beyond the 90th day, you can end up saving $913,300 a year.
Plan F also pays for skilled nursing costs from 21st day all the way to 100th day. You could save a total of $12,560 when you have Medigap Plan F. As for Part B deductibles, you could save up to $166. Other benefits of Plan F include saving $100 on doctor fees, $450 on blood and $50,000 on foreign travel. Medigap is offered by health insurance Florida companies among other providers across the country.
Are you interested in purchasing Medigap Plan F? Medicare Medics has the most comprehensive supplement insurance plan for your needs.