With a Medicare Supplement Plan F, a person won’t have “co-pays“ or “deductibles“. They only have their premium to worry about each month, keeping their medical expenses predictable. No surprises with medical expenses like copays or deductibles.
Medicare Supplement (Medigap) is private health insurance. It sits on top of Medicare to supplement it. It fills in the “Gaps” of original Medicare. Medicare Supplement plans have a premium associated with them.
A person can choose their own doctors and hospitals that accept Medicare without having to worry about “Networks” or “Referrals”. They can travel anywhere in the country and be covered by seeing any doctor that accepts Medicare.
They can purchase a Medicare Supplement plan (Medigap) any time of the year. The Medicare Supplement plans don’t have certain times of the year when people enroll. They will, however, after they’ve had their Medicare Part B plan for 6 months, need to go through some “Underwriting” questions to see if they can be approved. The first 6 months they’ve had Medicare Part B, a person cannot be turned down.
Insurance companies can charge different rates for the exact same Medicare Supplement plan, so it makes sense to shop prices. A Medicare Supplement Plan F with insurance company A will have the exact same benefits for a Supplement Plan F with insurance company B. So shop around and get the best price.
Medicare Supplement plans generally require a separately purchased prescription drug plan. This is important. You’ll pay a penalty if you go without a qualified drug plan.
Please Note: It’s important to understand that a person cannot have a Medicare Advantage plan and a Medicare Supplement plan at the same time.