High Deductible Plan F
High Deductible Plan F
Medigap Plan F has a high deductible option that is identical to regular Plan F but has a different payment structure. Read on to learn more about High Deductible Plan F.
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The specifics of the High Deductible option for Plan F
The high deductible option for Plan F means that you must meet the deductible in order to begin coverage. In 2021, the deductible is $2,370. This means you pay Medicare costs like coinsurance, copayments, and deductibles. After you pay $2,370 out-of-pocket, the plan pays for your care.
Original Medicare vs. High Deductible Plan F Hospital Inpatient Costs
Hospital Inpatient Costs
Original Medicare
- Day 1-60 of an inpatient stay: Your annual deductible is $1484 with coinsurance
- Days 61-90: your cost of coinsurance per day is $371
- After Day 90: you pay a lifetime reserve day of $742
Medigap Plan F
- 100% of Medicare Part A coinsurance and hospital costs, up to an additional 365 days after Medicare benefits are used.
Part B Coinsurance
Original Medicare
- You are usually expected to pay 20%
Medigap Plan F
- 100% of Medicare Part B coinsurance or copayment
Blood
Original Medicare
- If the hospital has to buy blood for you, you must pay for the first 3 units of blood you get in a calendar year
Medigap Plan F
- 100% of first 3 pints of blood
Hospice Care Coinsurance/Copayment
Original Medicare
- You pay a copayment of up to $5 per prescription for outpatient prescription drugs for pain and symptom management.
- You pay 5% of the Medicare-approved amount for inpatient respite care.
Medigap Plan F
- 100% Part A Hospice Coinsurance or copayment
Skilled Nursing Facility (SNF) Care Coinsurance
Original Medicare
- Days 1-20 at SNF facility: no cost
- Days 21-100: you pay $185.50 per day
- Day 101 and after: You assume all costs
Medigap Plan F
- 100% SNF Coinsurance
Part A Deductible
Original Medicare
- Annual deductible: $1484 with coinsurance for days 1-60 of each benefit period.
- After Day 60: See Hospital Inpatient costs, above
Medigap Plan F
- Covers 100% of Part A Deductible
Part B Deductible
Original Medicare
- In 2021, the deductible for part B is $203. After you meet your deductible, Medicare generally covers 80% of the cost and you cover 20%.
Medigap Plan F
- Covers 100% of Part B Deductible
Part B Excess Charges
Original Medicare
- No out of pocket expense yearly limit
- After you meet your deductible, Medicare generally covers 80% of the cost and you cover 20%.
Medigap Plan F
- Covers 100% of Part B Excess Charges
Bonus: Up to 80% of coverage for foreign travel emergency
It is important to note that the high deductible option differs by state. Minnesota and Wisconsin are two states that have different High Deductible Plan F options. Be sure to check the High Deductible options in your state.
Plan F is not offered for people newly eligible for Medicare beginning January 1, 2020. To learn more about High Deductible Plan F, contact us at Medicare With Jake today!
