INSURANCE – JULIA RUSCITTI – In contrast to Plan F, there is also a “High Deductible” Plan F. Choosing this plan means you must pay for all Medicare covered costs up to the “high deductible” amount of $2,070 in 2012, before your plan pays for anything. So, unlike the Plan F, you would be responsible for the Medicare Part A hospital deductible ($1,156), the Part B deductible ($140), and the 20% that Medicare doesn’t cover after they pay 80% of approved charges. Keep in mind, that until you reach that out of pocket maximum, you are continuing to pay your monthly premium, as well. However, they are considerably much lower in cost than a traditional Plan F.
This plan is not for everyone. Unless you have an exceptionally catastrophic year, you will probably not meet the “high deductible”. None of the Medicare Supplement (or Medigap, as they are sometimes referred to) policies have a drug plan integrated within them. If you choose to opt for one of them, you will need to purchase a “stand alone” (Part D) drug plan. On my next blog we will discuss Part D, and some of the “ins and outs’ of this benefit, if you choose to purchase (or not purchase) a drug plan.