Finally, it's time to actually get serious about picking the right Medicare Supplement plan.
Your mailbox and phone have probably been getting abused by people who are to excited about telling you you're getting old.
Trying to sort through the desperate sales tactics can be exhausting, especially when you just want someone to help you not have to think about your Medicare supplement anymore.
Well, that's exactly what I want to help you do today.
We're going to take a look at all the moving parts of you Ohio Medicare supplement plan F, what it covers and how you can expect it to work when you need it most.
We'll even talk about the difference between that pesky high deductible Plan F.
Let's get started.
What Does Medicare Plan F Cover?
First things first, it's easiest to think of the different plans and parts of Medicare as building blocks. Each plan or part builds on from one another and occasionally removes a piece here or there.
Starting at the beginning, Plan F is going to cover the deductible for Medicare Part A and B.
Part A handles anything related to being admitted to the hospital, where Part B deals with only outpatient procedures.
It's also going to cover your Medicare Part B Excess Charges (at 100 percent). That simply means if there is a charge under Medicare Part B that isn't covered fully, your plan F will step up and fill the gap.
Then it will move on to everything covered by Medicare Plan C, which includes:
- Hospitalization copayments and coinsurance
- Hospitalization benefits for 365 additional days after Original Medicare benefits end
- Hospice care
- The first three pints of blood you receive from a blood bank each year
- Other medical expenses for Medicare-approved services/supplies
- Up to 100 days of coverage for skilled nursing facilities
- Benefits for emergency medical care while traveling abroad
- Coverage for your Original Medicare (Part A and Part B) deductibles
Now let's break each of these down in more detail.
What are Medicare Part B Excess Charges?
Your Original Medicare is going to set the "reasonable" costs for all medical services.
There are some doctors who accept what is called "Medicare assignment," or basically the amount Original Medicare approves as full payment.
However, there are some doctors who want to reach for a little extra in the cookie jar and charge more than the amount Original Medicare approves.
This will stick you with bigger bill from your doctor, or in more fancy insurance terms, Medicare Part B Excess Charges.
Your Medicare Supplement Plan F will cover those "excess" charges at 100 percent. Or again, in less fancy terms, no money comes out of your pocket for those bills.
Hospitalization Copayments and Coinsurance
This is pretty straight forward, all of your hospital bills, copays and coinsurance will be handled through this plan.
Hospitalization benefits for 365 additional days after Original Medicare benefits end
If you need an extra year of hospital coverage after you've used up your Original Medicare limit, you plan C coverage will help extend it 365 days.
Obviously, you have bigger things to worry about if you need this coverage. Maybe not bigger things, but you're definitely more concerned with squeezing in as many good times as you have left when someone starts talking about hospice.
Knowing that you don't have to worry about these expenses should help maximize those final good times.=
The first three pints of blood you receive from a blood bank each year
This is again pretty straight forward as the first three round of blood are on Medicare Plan C you're on your own for the fourth.
Other medical expenses for Medicare-approved services/supplies
This is going to handle any additional equipment you might need to manage your conditions.
This durable medical equipment includes, but isn't limited to:
- Air-fluidized beds and other support surfaces (these supplies are only rented)
- Blood sugar monitors
- Blood sugar (glucose) test strips
- Canes (however, white canes for the blind aren't covered)
- Commode chairs
- Continuous passive motion (CPM) machine
- Hospital beds
- Infusion pumps and supplies (when necessary to administer certain drugs)
- Manual wheelchairs and power mobility devices
- Nebulizers and nebulizer medications
- Oxygen equipment and accessories
- Patient lifts
- Sleep apnea and Continuous Positive Airway Pressure (CPAP) devices and accessories
- Suction pumps
- Traction equipment
Up to 100 days of coverage for skilled nursing facilities
As you've probably noticed by now, time periods and numbers are pretty important when it comes to your treatment under Medicare.
You just want to be sure to keep this number in mind if you ever find yourself needing extensive skilled nursing facilities.
Benefits for emergency medical care while traveling abroad
This is one of the more popular questions and or concerns people have when I talk to them about their coverage.
The key word in this benefit is "emergency" as this will exclude any non emergency services while in another country.
That means if fall down some stairs and break your ankle during a trip to Italy with your granddaughter, you have some coverage. If you just run a doctor around the corner for a sinus infection, not so much.
In reality, that's the way you want it, because the big time money comes from those emergency services, not a random doctors visit.
Coverage for your Original Medicare (Part A and Part B) deductibles
As I mentioned earlier Medicare Part A and B each have their own separate deductibles. Your Plan F supplement will make sure you don't have to pay any money out of your pocket for either of them.
What About the High Deductible Plan F?
If we're being honest, with the current state of health insurance in the country, calling this a "high" deductible is a bit of stretch.
Essentially this plan puts you on the hook for the first $2,200 of medical bills each year. That might sound like a lot of money, but if you're healthy and/or prefer a lower monthly payment, this is not a bad route to go.
That $2,200 also counts to your Part A and B deductible. That means if you landed in the hospital for a couple days, you will ended up hitting your Part A deductible of $1,316. That amount can be subtracted from your Plan F deductible leaving you with only $884 left on your deductible.
The high deductible plan is going to be one of your most affordable options.
The Bottom Line
Plan F is pretty solid option all the way around for limiting a majority of the medical expenses you'll face on Medicare.
This supplement has been one of the more popular/attractive options since is was rolled out. The only other option you want to consider in it's place is plan G.
Let's answer your final questions about getting a Medicare Supplement Plan F in Ohio.