Underwriting is the process assessing risk of issuing insurance. Undewriters evaluate applications,
Many seniors that select Medicare Supplement Plan F do so because it offers the most comprehensive coverage. However, if you are not eligible for Medicare until 2020 or later, you will not have Plan F available to you. For these seniors, Medicare Supplement Plan G will offer the most coverage. Seniors that are eligible for Plan F may want to consider Plan G as well, as it is often more cost-effective.
What Does Medicare Supplement Plan F Cover?
As you can see in the chart above, Medicare Supplement Plan F covers all the gaps in Medicare Parts A & B. This includes deductibles, coinsurance, copays, and excess charges. With a Plan F, you should not have any out-of-pocket expenses for Medicare-covered services.
Medicare Supplement Plan F Standardization
Medicare Supplement plans have been completely standardized since 1991. As you consider pricing from various insurance companies, you can feel comfortable that Plan F from each provider is identical in the following ways:
- Benefits – Medicare supplement Plan F will have the same coverage regardless of which company you choose. Some companies may offer additional perks for choosing them, but perks can be rescinded or changed at any time. We do not recommend that you select a company based off of a perk they provide for that reason.
- Doctor Network – You don’t have to worry about whether one company has a better doctor network than another. The various Medicare Supplement insurance companies do not have their own doctor networks, because their plans are only supplements to your primary Medicare Parts A & B coverage. Your network is the nationwide Medicare network.
- Claims-Paying Process – Medicare Supplement claims-processing is highly automated nowadays, so it is easy for you to use the coverage. When you receive your medical services from your physician, they will submit your claim to Medicare for you. Once Medicare approves your claim, they will pay the physician their portion. After, Medicare will notify your Medicare Supplement company of the amount that they need to pay. They must pay the amount due per Medicare’s instructions, so you don’t have to worry about whether one company is better at paying for claims than another. Due to the automation and standardization in this area, all companies are equal in their claims-paying history.
Choosing a Medigap Plan F Provider
Standardization provides peace-of-mind, so many seniors choose the Medicare Supplement provider that offers the lowest rate. In fact, that’s one reason so many Medicare recipients turn to GoMedigap. We represent over 30 trusted providers, to ensure that you are able to find the right carrier for you.
When Can I Get Medicare Plan F?
As long as the Part A start date on your Medicare card is before January 1st, 2020, you will be eligible for Medicare Supplement Plan F. You can switch Medigap plans or carriers at any time of the year. Depending on the state that you live in, you may need to answer medical questions. In these cases, carriers can choose to accept or decline your application based on your health. It is crucial to have an expert at your side during this process.
GoMedigap Can Help
At GoMedigap, our agents put you first. We will evaluate your needs to help you select the plan that is best for you, and sign you up with the carrier of your choosing in one easy phone call. Our services are free, and our Rate Watch team will check in with you every year to ensure that you are satisfied. To speak with an expert, call us today at 866-894-3258.