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Medicare Supplement High Deductible Plan F
High Deductible Plan F works the same way other Medigap plans work. The only difference is you agree to pay the deductible first. Once you reach the deductible, your plan covers the left-over costs going forward, keeping the monthly premium low. High Deductible Plan F is the alternative version of the standard Plan F.
Medicare Supplement High Deductible Plan F – First Dollar Coverage
Many beneficiaries like the benefits of first-dollar coverage plans, like the standard Plan F. However, those Medicare beneficiaries who are mindful of cost might choose the high deductible version of Plan F.
High Deductible Plan F is Perfect For Those Who:
- Need a lower monthly premium
- Are okay with paying a higher deductible before coverage kicks in
- See the doctor or visit the hospital semi-frequently
- Live in states that allow excess charges
- Like to travel outside the United States
What is the Deductible for High-Deductible Plan F?
For example, let’s say it’s time for your routine colonoscopy cancer screening. Part B covers colonoscopies every four to ten years for those at average risk.
The average cost of a colonoscopy is around $3,000, depending on your geographic region. You’ll be responsible for the Part B deductible plus the remaining 20% coinsurance that’s left after Medicare pays their portion.
Once you reach the deductible, your plan will pay 100% of your remaining medical costs.
Each year Medicare adjusts the deductible amount; it slowly increases year over year. Aside from the deductible, the costs for this plan is the monthly premium.
What Does High Deductible Plan F Cost?
The average premium for High Deductible Plan F is around $50. Depending on your state of residence, it could cost a little less or a little more. Many factors come into play when it comes to premiums. Factors include location, age, gender, etc.
What Carries Offer High Deductible Plan F?
Each carrier offers different plans in different states. One company might offer this plan in one region, but not another. Regardless of the company you go with, the benefits and deductible amount will remain the same. The difference between carriers is the premium.
When to Enroll in High Deductible Plan F
Medicare Supplements don’t have specific enrollment periods like Original Medicare, you can join anytime. However, the best time to enroll is within the first six months your Part B is in effect. During this time, you get Guaranteed Issue, which means that regardless of any pre-existing conditions, a carrier must approve your application.
Again, you can still enroll after this time. You’ll just have to answer health questions during the application process.
High Deductible Plan F Medicare Supplement Plan Chart 2021
Why is High Deductible Plan F Being Discontinued?
Many Medicare beneficiaries have probably heard the news about first-dollar coverage plans. Recently, Medicare changes went into effect, and all first-dollar coverage plans are discontinued. The discontinuation also includes Plan C and the standard Plan F
However, this change will not impact beneficiaries who already have one of these plans. They’ll be grandfathered in, and the benefits will remain the same.
Can I Still Enroll if I was Medicare Eligible Before 2020?
Is there an Alternative to High Deductible Plan F?
Does High Deductible Plan F Make Sense?
How to Sign Up for Medicare High Deductible Plan F
Our licensed Medicare agents are here to help at no cost to you. It’s like having your Medicare planner in your back pocket. When you sign up for any Medicare Supplement through us, we’re in it with you for the long haul. You’ll get on-going support from our expert Client Service Team.
If you have any problems with your coverage or submitting a claim, we’re here to help. Give us a call now at the number above. You can also see a comparison, side by side, of all the rates in your area by using our online rate comparison tool here.