What Is the Annual Deductible Amount?
The only difference between regular Medigap Plan F and High Deductible Plan F is the deductible. With this plan, you have to pay Medicare-covered costs like coinsurance and copayments up to the deductible amount before your plan will bear the expense. In 2023, the deductible amount for High Deductible Plan F is $2,700. Therefore, you are obligated to cover all out-of-pocket expenses before you get 100% covered. The first out-of-pocket you are obligated to pay is an annual Part B deductible which is 226$ in 2023. Medicare adjusts this deductible each year, so it increases a little over time.
How Does This Plan Work?
Like all Medigap plans, this High Deductible counterpart increases your Original Medicare benefits. So, Medicare will pay its share, and you will pay yours. Medicare still pays 80%.
Once you hit the deductible for this plan, you will get the same coverage as a standard Plan F . Since the deductible is so high, expect to pay a lower premium for a High Deductible Plan F plan. Essentially, you are paying more out-of-pocket costs upfront so that you pay less each month (your monthly premium costs are lower). The average cost may range from 40$ to 80$ a month.
Medigap High Deductible Plan F Benefits
After you pay the first $2,700, you get these benefits:
- First three pints of blood
- Part A deductible
- Medicare Part B copayment
- Part A hospice care copayment
- Part B Deductible and excess charges
- Skilled nursing facility care coinsurance
- Foreign travel emergency (up to plan limits)
- Medicare Part A coinsurance and hospital costs (up to an additional 365 days after Medicare benefits are used up)
Those are the same benefits that are normally included in Medicare Supplement Plan F.