Clear and concise information about what is Medicare Part F providing answers to the most frequently asked questions about this supplemental insurance program.
Medicare Part F, officially known as Medicare Supplement Insurance Plan F, can be purchased as a comprehensive insurance plan to provide the recipient with additional coverage not afforded by Medicare Plans A and B. In order to better evaluate whether this plan is worth the cost, it’s important to know the many different facets of the coverage it offers.
Part F will pay for the deductible portion of your Part B expenses, in addition to all Part B excess charges. Supplemental Medicare coverage is also included for hospitalization costs once the patient has exhausted all benefits from Medicare Part A. This Part also includes coverage for medical services not covered by Part B such as diagnostic tests, physical therapy and certain necessary medical equipment whether it is provided in a hospital setting or on an outpatient basis. Part F also serves as a supplemental form of insurance to cover the costs of at home healthcare services, skilled nursing care in an approved facility or end of life hospice care. Medicare does not cover blood costs, but Part F includes coverage for the first three pints of blood used in any surgery or other procedure.
Many Medicare recipients opt for Part F because this supplemental insurance plan covers foreign travel emergency care up to an amount representing 80 percent with a lifetime cap not to exceed $50,000. Any foreign medical care must begin treatment within the first 60 days of traveling outside of the United States. This Part allows policy holders to receive treatment at any Medicare-eligible hospital of their choosing.
Medicare Part F cannot be cancelled if the condition of your health changes in subsequent years as long as the policy premium is paid on time. Before signing up for Part F in supplemental Medicare benefits, it’s a good idea to understand the renewal policy of this Part, the limitations of its coverage, and any benefits that are excluded. But overall, using Part F can be a financial lifesaver when it fills in those gaps not covered by Medicare Parts A and B or when the recipient does a fair amount of travel abroad.