YOU can Save Money with these Medigap Plans
In South Florida, Medigap Plans F are offered as high-deductible plans. These plans have lower monthly premiums than regular Medigap Plans F and J, but your coverage will begin only after you have met the annual deductible ($2070 in 2012).
At least two companies currently offer these plans in South Florida. For all of Miami-Dade, Broward, and Palm Beach you can find Plans from Humana and United American. According to United American only a small percentage of people actually use the $2070 during a calendar year, so the likihood is that you'll save money over traditional Plan F type plans with the unparallelled flexibility that Medicare Supplement Plans have over Medicare Advantage Plans.
Before buying one of these plans, think over if it is worth a lower premium to take the risk of having to pay the deductible if you need a lot of health care services. But keep in mind that even if you are healthy now, you may need more care in the future. If you need a lot of Medicare-covered health care, your out-of-pocket costs will be higher with these high-deductible plans. In addition, you may not be able to change plans later.
Keep in mind that both plans F also have an additional deductible of $250 a year for a foreign travel emergency (in addition to the $2,070 in 2010).
For specifics on what these plans cover, click on the comparison chart below.
To learn more about high-deductible Medigap plans in your area, call your Florida Health Agency.
Here are the details of High Deductible Plan F Plans.
Medicare Plan F High Deductible is a plan for those who are in excellent health and have resources to withstand paying the first $2070 (based upone 2012 numbers) in medical expense out of their pocket in any given calendar year. This High Deductible plan pays the same benefits as plan F but only after satisfying the $2070 calendar year deductible. Benefits from High Deductible Plan F will not begin until out-of-pocket expenses exceed $2070. Out of pocket expenses for this high deductible plan are medical expenses that would normally be paid by the plan or insurance policy certificate. These expenses include the Medicare deductibles for Part An and B, but do not include the plans separate foreign travel emergency deductible.
Plan F High deductible plan can be priced as low a $50 and up to $150 per month premium depending upon state, county and/or age of beneficiary. A cost benefit analysis will show those who stay healthy over time would save considerably with this type of policy. However the risk lies in a sudden change of your health where year after year you would be responsible to meet this $2070 high deductible plans out of pocket expenses before the plan begins paying for your gap coverage.
Caution and understanding should be used prior to a final decision to purchase this plan. If your health begins to deteriorate and you want to change to a plan without a high calendar year deductible, you will normally be confronted with an underwriting situation that may not allow you to switch from the current plan you own. Of course, this will be determined by state statues that guide eligibility requirements and pre-existing conditions in each state.
Medicare Plan F High Deductible Coverage Includes:
Satisfaction of Maximum $2070 Deductible (based upon 2012 numbers) for each calendar year
. Medicare Part A Co-insurance for Hospitals
. All costs when hospital benefits have exhausted
. Part B Co-Insurance Paying the 20% Outpatient Expenses
. 3 Pints of Blood & Hospice Benefit
Additional Benefits
. Part A Hospital Deductible
. Skilled Nursing Facility Co-Insurance
. Part B Deductible
. Part B Excess Charges
. Foreign Travel Emergency Benefit
At least two companies currently offer these plans in South Florida. For all of Miami-Dade, Broward, and Palm Beach you can find Plans from Humana and United American. According to United American only a small percentage of people actually use the $2070 during a calendar year, so the likihood is that you'll save money over traditional Plan F type plans with the unparallelled flexibility that Medicare Supplement Plans have over Medicare Advantage Plans.
Before buying one of these plans, think over if it is worth a lower premium to take the risk of having to pay the deductible if you need a lot of health care services. But keep in mind that even if you are healthy now, you may need more care in the future. If you need a lot of Medicare-covered health care, your out-of-pocket costs will be higher with these high-deductible plans. In addition, you may not be able to change plans later.
Keep in mind that both plans F also have an additional deductible of $250 a year for a foreign travel emergency (in addition to the $2,070 in 2010).
For specifics on what these plans cover, click on the comparison chart below.
To learn more about high-deductible Medigap plans in your area, call your Florida Health Agency.
Here are the details of High Deductible Plan F Plans.
Medicare Plan F High Deductible is a plan for those who are in excellent health and have resources to withstand paying the first $2070 (based upone 2012 numbers) in medical expense out of their pocket in any given calendar year. This High Deductible plan pays the same benefits as plan F but only after satisfying the $2070 calendar year deductible. Benefits from High Deductible Plan F will not begin until out-of-pocket expenses exceed $2070. Out of pocket expenses for this high deductible plan are medical expenses that would normally be paid by the plan or insurance policy certificate. These expenses include the Medicare deductibles for Part An and B, but do not include the plans separate foreign travel emergency deductible.
Plan F High deductible plan can be priced as low a $50 and up to $150 per month premium depending upon state, county and/or age of beneficiary. A cost benefit analysis will show those who stay healthy over time would save considerably with this type of policy. However the risk lies in a sudden change of your health where year after year you would be responsible to meet this $2070 high deductible plans out of pocket expenses before the plan begins paying for your gap coverage.
Caution and understanding should be used prior to a final decision to purchase this plan. If your health begins to deteriorate and you want to change to a plan without a high calendar year deductible, you will normally be confronted with an underwriting situation that may not allow you to switch from the current plan you own. Of course, this will be determined by state statues that guide eligibility requirements and pre-existing conditions in each state.
Medicare Plan F High Deductible Coverage Includes:
Satisfaction of Maximum $2070 Deductible (based upon 2012 numbers) for each calendar year
. Medicare Part A Co-insurance for Hospitals
. All costs when hospital benefits have exhausted
. Part B Co-Insurance Paying the 20% Outpatient Expenses
. 3 Pints of Blood & Hospice Benefit
Additional Benefits
. Part A Hospital Deductible
. Skilled Nursing Facility Co-Insurance
. Part B Deductible
. Part B Excess Charges
. Foreign Travel Emergency Benefit
