Medicare Part F is optional medical coverage offered by insurance companies to supplement the Medicare benefits paid for by the federal government. These plans are purchased to cover medical expenses the patient might be billed, the difference between the doctor’s fee and the amount Medicare actually pays.
Supplemental Part A
Medicare Part A pays for hospital care. Typically, Medicare Part F will pay Part A coinsurance and, after benefits from Part A end, will pay for 365 additional days of hospitalization.
Supplemental Part B
Medicare Part B pays for medical expenses, such as those billed by doctors and laboratories. Generally, Medicare Part F will pay the coinsurance, usually 20 percent of the fee, and co-payments for services received as a hospital outpatient.
Medicare Part F can also pay for Part A and Part B deductibles. Moreover, it can help with co-payments for stays in a skilled nursing facility. And it will also cover emergency medical treatment while traveling abroad.
High Deductible Plans
Medicare Part F plans are also available as high deductible policies. This makes the premiums lower, but it means higher medical costs up front until the plan deductible is met.