subject: Medicare Supplemental Plan F - Make Your First Purchase Your Best! [print this page] Whether you are just turning 65, or are leaving an employer plan, choosing the right Medicare Supplemental Insurance plan is extremely important for your future. Access to high quality healthcare, financial stability, and affordable monthly premiums should all be considered when making a purchasing decision. Any mistake can directly affect your health and financial well being.
Your open enrollment period begins on the first day of the month in which you are both 65 years of age AND enrolled in Medicare Part B. It is extremely important to purchase a plan during this time as this may be the only time you have guaranteed issue. Should you try to switch plans at a later time, or wait to purchase a Medicare Supplement Plan, you will have to go through underwriting and can be denied coverage if you have any pre-existing health conditions. For these reasons, it is extremely important to make sure the plan you purchase is the plan you can live with for the rest of your life.
Medicare Advantage Plans may be less expensive on a monthly basis, but the benefits provided with these plans are inferior to those provided by original Medicare with supplemental insurance. In addition to having less benefits, man doctors and hospitals have stopped accepting patients who are enrolled in Medicare Advantage plans. Keep in mind if you purchase a Medicare Supplement Plan first, you can switch to a Medicare Advantage plan any year during the annual enrollment period. However, if you purchase a Medicare Advantage plan first, you may have to go through underwriting if you want to purchase a Medicare Supplemental Insurance Plan.
Medicare Supplemental Plan F is the most popular and the most comprehensive plan. This plan is recommended by all experts and doctors, and if you can afford it this is undoubtedly the best plan for you. Seniors who purchase this plan rarely have any out of pockets costs for any medical services. Furthermore, they can visit any doctor, specialist, or hospital without getting a referral. The key to finding an affordable plan is to get Medicare Supplement Quotes from all companies.
Medicare Supplemental Plan F also has a key benefit that is not offered by some other Medicare Supplement Plans. This benefits is called Part B excess charges. Doctors can charge 115% of the Medicare approved rate, and if your plan doesnt have this benefit you will be stuck paying these costs. As Medicare continues to reduce the amount they pay doctors, it is likely many will charge above the Medicare approved rate in order to maintain profitability.
When shopping for Medicare Supplemental Plan F, or any other type of plan, make sure your first purchase is your best. You may have to keep the same plan for the rest of your life and you want to be sure you have access to high quality healthcare. Furthermore, you want to be sure you will be financially stable throughout your retirement. Consulting a national Medicare Supplement Broker who will give you an honest opinion can be very beneficial.
by: Tyra Phillips
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