It’s hard to wade through the murky online waters of health insurance.
Trying to get affordable but adequate coverage tends to involve a lot of quotes, calls, and struggle.
If you’re not happy with your current Medicare plan, you probably need a Medicare Supplement plan.
But then you might realize that there are so many different Medicare Supplement plans in Concord, CA.
Which plan is the best to enroll in if you live in Contra Costa County?
That is for you to decide since everyone’s situation is different.
But if you want to see what’s the most popular and is probably the best option for you, that’s where Plan F comes in.
What is Plan F?
Plan F is the most popular of all Medicare Supplement plans in Concord.
It’s one of the 10 Medicare Supplement options that people who have Original Medicare can opt into if they feel they need additional coverage.
Plan F is by far the most popular because it offers the most comprehensive coverage out there. More than half of Americans who want a Medical Supplement plan choose Plan F.
The usual Medicare Part A and Part B aren’t bad insurances per se, but they do leave some gaps that could hurt.
Unexpected and frustrating out-of-pocket costs can still occur with the other supplement plans.
You might need to seek medical assistance and realize only afterward that you need to pay a hefty amount, or you straight up avoid doctors so you don’t risk paying too much.
Plan F can help you avoid all that. Buyers of this plan will usually never have to pay out-of-pocket, which means a lot less stress.
Who should get Medicare Supplement Plans like Plan F?
Those who want predictable out-of-pocket medical costs, international travelers, and those who expect a lot of medical expenses. Those who need hospice care now or in the future are also recommended to get Plan F to reduce their out-of-pocket costs.
Plan F is limited to those who have already qualified for Medicare prior to January 1, 2020.
Lucey Wealth Advisors are a team of financial experts who are always happy to help you with your financial decisions, including whether you should get Plan F or a different plan. If you need services from Lucey Wealth Advisors you can contact us at 888-828-3394.
What does Plan F cover?
Long story short, having Plan F allows you to be able to walk into a doctor’s office and leave without needing to pay.
This is obviously a great financial help. In America, health concerns often coincide with financial concerns just because emergency hospital costs can be absolutely devastating.
Medical expenses are the #1 reason for bankruptcy! Yikes.
According to Medicare.gov, for 2021 the Medical Supplement Plan F covers:
In addition, Plan F also covers the first three pints of blood each year. Each pint costs around $150 in Contra Costa County, so that’s a nice bonus.
Medicare Part A and Part B have other gaps that can prevent you from getting adequate coverage. They don’t cover foreign travel emergencies or skilled nursing facility coinsurance, but Plan F does!
Plan F covers 80% of medical costs during foreign travel.
As a refresher, each plan’s insurance deductible is the amount of money you have to pay before insurance kicks in and covers the costs.
Typically, health plans with lower monthly premiums have higher deductibles.
Coinsurance is the price you pay after you have paid the deductible. If you have 0% coinsurance, that means you pay nothing after the deductible.
What does Plan F NOT cover?
Health insurance is usually completely separate from a certain list of services. This is the same for Medicare Supplement plans in Concord, CA.
Plan F does not cover dental, vision (including glasses), hearing aids, private nursing care, or long-term care.
Typically, it is recommended to get additional insurance for dental, vision, etc. because those costs can be just as high if not higher than a regular doctor visit.
How do I enroll in Plan F?
For Plan F, you have to be first enrolled in Original Medicare or Medicare Parts A and B. That’s because Plan F focuses on covering the gaps in those other plans.
After you’ve enrolled, Medicare will first pay for whatever it will usually cover for you, and then your Medical Supplement plan policies will follow up with their own payments.
Note that Plan F is limited to those who qualified for Medicare prior to January 1, 2020. If you only qualified for it after Jan. 1st, 2020, you won’t be eligible for Plan F in Contra Costa County.
To get Plan F, you’ll need to connect with a health insurance company that sells Medical Supplement Plans in Concord, CA.
How much does Plan F cost?
Where you’re located when you buy Plan F can affect the price. Plan F in California, for example, costs an average of $190 a month (not including your current Medicare coverage costs).
The price for Plan F in Concord, CA also depends on your gender and whether you smoke or not.
Where to get financial advice for health insurance?
Lucey Wealth Advisors are here to help you with all your financial questions.
Don’t hesitate to contact us at 888-828-3394. We know that the stress from financial concerns can be exacerbated by health concerns, which is why we offer affordable prices and reliable help from our professionals.
Together, let’s figure out which Medicare Supplemental Plan is optimal for you and whether you need Plan F.
Because we are a team of top financial advisors, we also help with issues such as estate tax, retirement plans, stock market volatility, and more. You can make the most out of your savings with us.
Concord is the largest city in Contra Costa County, California. According to an estimate completed by the United States Census Bureau, the city had a population of 129,295 in 2019 making it the 8th largest city in the San Francisco Bay Area. Founded in 1869 as Todos Santos by Don Salvio Pacheco II, a noted Californio ranchero, the name was later changed to Concord. The city is a major regional suburban East Bay center within the San Francisco Bay Area, and is 29 miles east of San Francisco.
The valleys north of Mount Diablo were inhabited by the Miwok people, who hunted elk and fished in the numerous streams flowing from the mountain into the San Francisco Bay. It is important to note Miwok and other indigenous people still live within city limits. In 1772, Spanish explorers began to cross the area but did not settle there. In 1834, the Mexican land grant Rancho Monte del Diablo at the base of Mount Diablo was granted to Salvio Pacheco (for whom the nearby town of Pacheco is named).
Concord was founded under the name of Todos Santos (‘all saints’; a name still borne by the central city plaza and park between Willow Pass Road and Salvio Street), on the initiative of Pacheco in 1869. It achieved prominence in the 19th century, when most residents of Pacheco relocated to Concord to avoid the devastation of fire and flood which crippled Pacheco’s formerly booming economy. Concord was incorporated on February 5, 1905.
The area around Concord in the surrounding Ygnacio and Clayton Valleys was a large agricultural area. Crops that were grown included grapes, walnuts, almonds, wheat, hay, and even tomatoes. The area to the east (now the site of the Concord Naval Weapons Station) was the site of a few enormous wheat ranches over 5,000 acres (20 km2), and was almost a sea of wheat all the way to the marshes bordering Suisun Bay. During Prohibition, many vineyards were removed and replaced with walnut orchards. The town of Cowell, now incorporated into Concord, produced cement.