Old age is a great phase of your life. It is better if you do not have to worry about expenses incurred due to your health. The problem can be easily remedied if you are covered under a Medicare Plan which is complemented by a Supplement policy. Many people wonder if a supplement plan is actually essential. Is Medicare A or B not adequate? United Healthcare Medicare supplement plan F may be the answer.
Plans A and B provide good coverage for the majority of health problems, partial cover for some health issues and no cover for certain illnesses. As a remedy to this incomplete coverage, supplement plans have been initiated. In most cases they turn out to be extremely beneficial.
What are Medicare Supplement Plans?
Supplement plans, also known as MediGap, are meant to act as a “backup” for the main policy. It should be noted that these are not complete policies by themselves and are not applicable to people who are not beneficiaries of A or B plans. Supplement plans ensure that you have a more complete and comprehensive coverage.
There are different kinds of supplement plans that you can choose from. Among all these policies, United Healthcare Medicare Supplement Plan F is one of the most comprehensive. The major advantage of this policy is that it covers medical expenses in excess of the amounts approved by Medicare.
What does United Healthcare Medicare Supplement Plan F offer?
Here are the different benefits that you can enjoy by opting for United Healthcare Medicare supplement plan F.
- Provides coinsurance for Part A and hospitalization costs for one year after Plan A or B benefits mature
- Provides 20 percent coinsurance for Part B
- Covers expenses for three pints of blood every year
- Covers hospice care as coinsurance or copayment for Plan A
- Coverage for nursing care and emergency medical care requirements during travel in foreign countries
- Covers the difference between actual American costs and money sanctioned by Medicare Part B
- Covers deductibles for hospitalization under Plan A and outpatient expenses under Plan B
One of the features in Plan F is an optional high deductible. The advantage of choosing high deductible option is that you can enjoy lower premiums. The drawback is that you have to bear more out-of-pocket expenses when you fall sick. If you suffer frequent illnesses, you could use Medicare Select Plan F.
Only two plans, Plan F and Plan G, provide Part B excess cost cover. Both plans are offered by private insurance companies.
Is it mandatory by law to buy United American Medicare Supplement Plan F?
No, these policies are not mandatory by law. However, since expenses incurred in excess of what is provided under Part A or B can burn a big hole in your pension fund or old age savings, buying this plan is highly recommended.
Do you need another safety net in the form of Plan F? The answer depends on your health conditions. If you are generally healthy and do not need to pay out-of-pocket frequently on doctor visits and medication, you might not need this plan. But if your health does demand frequent medical care, purchasing Medical Supplement Plan F from United American can save a lot of money in the long run. The choice is personalized.