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 Novato, CA.
Which plan is the best to enroll in if you live in Marin 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 Novato.
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 Marin 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 Novato, 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 Marin County.
To get Plan F, you’ll need to connect with a health insurance company that sells Medical Supplement Plans in Novato, 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 Novato, 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.
Novato is a city in northern Marin County, in the North Bay region of the San Francisco Bay Area, in the U.S. state of California. At the 2010 census, its population was 51,904. Novato is located about 10 miles (16 km) northwest of San Rafael and about 30 miles (48 km) north of San Francisco on U.S. 101.
Novato has been called one of the best places to live in the U.S.
What is now Novato was originally the site of several Coast Miwok villages: Chokecherry, near downtown Novato; Puyuku, near Ignacio; and Olompali, at the present-day Olompali State Historic Park.
Historic Landmark. Rancho Olompali
In 1839, the Mexican government granted the 8,876-acre (35.92 km2) Rancho Novato to Fernando Feliz. The rancho was named after a local Miwok leader who had probably been given the name of Saint Novatus at his baptism. Subsequently, four additional land grants were made in the area: Rancho Corte Madera de Novato, to John Martin in 1839; Rancho San Jose, to Ignacio Pacheco in 1840; Rancho Olompali, awarded in 1843 to Camilo Ynitia, son of a Coast Miwok chief; and Rancho Nicasio, by far the largest at 56,621 acres (229.1 km2), awarded to Pablo de la Guerra and John B.R. Cooper in 1844. Novato, along with the rest of California, became part of the United States on February 2, 1848. Early pioneers included Joseph Sweetser and Francis De Long who bought 15,000 acres (61 km2) in the mid-1850s and planted orchards and vineyards.
The first post office at Novato opened in 1856; it closed in 1860, and a new post office opened in 1891.