What's So Good About the Medicare Plan F?

Medicare Insurance has never been this complicated! With so many changes in Healthcare Reform over the past 18 months, seniors today have to become experts to know which plan is best for them. Will it be around next year? Can I switch if I'm not happy with the benefits? These are all great questions to ask and better yet, know the answer to. The safest way to go when it comes to your healthcare in your "golden years" is to protect yourself with a Medicare Supplement Plan. This means that the you will have Original Medicare, Parts A & B, as your primary medical insurance. A Medicare Supplement or Medigap insurance plan will cover the costs that Medicare does not cover. This includes co-pays, co-insurance and other expenses. Plan F of the Medicare Supplements has recently become the "Cadillac" choice for seniors today. Essentially it covers almost all of your potential out-of-pocket expenses that Medicare does not. Other plans such as Plan N or Plan G still leave some gaps that could potentially be devastating financially. For this reason the Medicare Plan F is your best choice when considering your options of a Medicare Supplement. The greatest part is that the Plan F is the same no matter which carrier you decide to choose. In any city, county or state - the benefits remain the same! My advice is to shop around and make sure your getting the best price for the plan as each carrier sets their own price for their service. Some carriers even add Silver Sneakers or other health and wellness benefits that others do not, usually at no additional cost. Now that you have your Supplement insurance squared away, make sure you also procure a Medicare Part D, better known as a Prescription Drug Plan. Neither Medicare nor your supplement plan will cover your monthly prescriptions and it is imperative that you seek the best plan for you based on your needs and budget. If you fail to do so, penalties may be imposed on you later and you will pay a higher rate for as long as you are on Medicare. Lastly, a common misconception is that when you have a Medicare Plan F, regardless of your carrier, you are not bound by their network of providers. Remember, you have Original Medicare as your primary insurance and thus you can see any provider who accepts Medicare! Your supplement just covers the difference, so they don't care who you have as your Supplement carrier as long as they get paid.