Understanding Medicare’s coverage can be complicated. The federal health insurance plan targeted at the elderly and disabled demographics comprises various parts and plans all indicated by letters. Plan F is a Medigap policy, which is a plan designed to cover things not already covered under the original parts of Medicare. Plan F on its own is one of the most comprehensive supplemental plans, but the premium cost can be prohibitive for some people. There is also a high deductible version of the plan, Medicare Plan F High Deductible, which is more affordable for some. The basic pieces of Medicare are hospital coverage (Part A) and doctors’ coverage (Part B). Many people also have a Part D plan that covers their prescription drug costs. Parts A and B have several deductibles, coinsurances, and copays that members are responsible for. Some people don’t mind that they will have to pay a certain amount out of pocket for any hospital or doctor visit. Others would rather pay a monthly premium and have these costs covered.
Plan F and Plan G leave members with very little costs outside their premiums, but the premiums tend to be much higher than other supplemental plans. One solution for some members is a Medicare Plan F High Deductible. The high deductible plan covers everything Plan F does, but the member must pay a certain amount of cost out of pocket before the plan will pay for anything. Once the out-of-pocket cost has been paid, the coverage is the same as the regular Plan F.
High Deductible Plan F Coverage Breakdown
High Deductible Plan F requires you to pay a yearly deductible of $2,800. After that is paid, coverage can include:
- Medicare Part A deductible
- Part A coinsurance
- 365 days of hospital coverage after Part A stops paying
- Medicare Part B deductible
- Part B coinsurance
- Part B excess charges (the difference between what your doctor charges and what Medicare pays)
- Hospice care
Money paid toward the Part A and/or Part B deductible counts toward the $2,800 deductible. The $2,800 is the maximum out-of-pocket for High Deductible Plan F.
Should you desire coverage in case of a disaster and don’t mind sharing certain health costs, the high deductible version might be ideal.
