Medicare Supplement Plan F
Offering a comprehensive set of benefits, Plan F has long been the most popular Medicare supplement. It’s also usually the most expensive, but it will reduce medical care out-of-pocket expenses to a minimum after Original Medicare has paid its part.
All that is changing soon. For everyone joining Medicare from 2020 on, Plan F will no longer be available because of a federal law.* medigapcoverage.com powered by pollen recommends choosing Plan G as a replacement for Plan F since it offers the next best level of coverage and has lower costs.
What do I get from Plan F?
All the gaps in coverage under Medicare Parts A and B are taken care of, including:
- Both Part A and Part B deductible
- The 20% that you have to pay with Part B
- Part B surcharges — the standard 15% your doctor may charge
- Part B co-insurance for preventative care
- Part A hospital and co-insurance costs up to a full year after Medicare benefits are used up
- Part B co-insurance or co-payment
- Initial 3 pints of blood used in a medical procedure for a year
- Part A hospice care co-payment or co-insurance
- Skilled Nursing Facility (SNF) co-insurance
- Emergency medical care outside the U.S.
There are also no referrals required with Plan F — you can see any Medicare specialist you like. And your coverage is guaranteed renewable and can’t be canceled due to health conditions or the number of claims you file.
You also get standardization with Plan F, which is helpful when choosing a policy from various insurance companies. Their prices may vary, but the benefits they offer are the same.
With identical benefits, you get:
Doctor Network – There’s no need to comparison shop for the company with the best network of providers. In the Medicare Supplement world, insurers don’t offer networks. Their plans supplement Original Medicare, so your network is more than 800,000 doctors, statewide.
Claims-Paying Process – With automation, getting your claims into the Medicare system and paid is easier than ever. Your doctor will submit your claim to Medicare, and as soon as the claim is approved, your doctor will receive the portion due. Medicare will then contact your Medigap carrier to let them know what they need to pay out. The entire process is standardized, so as far as paying claims, it’s a level playing field.
What about my eligibility for Plan F?
First, you have to be enrolled in Original Medicare (Part A and Part B) to buy Plan F. You must be a U.S. citizen and meet one of these criteria or more:
- You’re 65 or older
- You have a disability
- You’ve been diagnosed with End-Stage Renal Disease (ESRD).
What disqualifies you is being enrolled in a Medicare Advantage plan, which you can’t have at the same time you have a Medigap policy. If you have one, be sure to cancel your Medicare Advantage plan before your new coverage starts.
Be aware that you’re entitled to switch Medigap plans every year, any time you want. In certain states you may be required to answer medical questions, and depending on your health evaluation, you could be denied coverage. This is when it could really pay to have a medigapcoverage.com powered by pollen specialist at your back.
Costs Associated with Medigap Plan F Coverage
Factors such as area, gender, zip code, and tobacco use play into the variable costs of Plan F. This most popular plan is offered by most insurers, so be sure to shop around for the best rate. You may be tempted to choose another plan that costs less, but if you need regular medical care, Plan F can pay for itself in copayment and deductible cost savings.
People sometimes make the mistake of hanging onto their Plan F insurance year after year because they’re afraid to switch and lose the outstanding coverage. Of course, Plan F offers the same benefits no matter which company is selling it. Do an annual search of Plan F rates where you live and look for the lowest-priced plan. Get in touch with one of our specialists to help you any time at 833-245-0614.
*According to congress.gov, all Medigap plans which pay the Part B deductible will be eliminated from January 1st, 2020 and after in order to discourage the overuse of medical services. The rationale behind the law is that by making people cover their own deductible out-of-pocket, they will be less willing to go to a doctor or health care facility unless it’s absolutely necessary.
Still confused? Call us!
We’re here at 833-245-0614 to answer any questions, and ready to help with any issues you might have with an insurer through the enrollment process.
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FAQs
Who is likely to get the most out of Medigap Plan F?
If you expect to have a lot of doctor’s visits and health care costs during the year, then Plan F makes sense for you. It offers comprehensive coverage, but at the trade off of a higher premium.
I have a Medicare Advantage plan and want to add a Medigap plan. Can I do this?
No, having a Medicare Advantage plan disqualifies you from enrolling in a Medicare Supplement policy.
What factors, other than the variable pricing of insurers, affect the cost of a Plan F policy?
Gender, age, zip code, and tobacco use can cause your premium to be higher than average.
Does it make sense for me to shop for a new Plan F every year since the benefits will be the same?
We highly recommend comparison-shopping annually to look for the lowest-price plan.
Is it true Plan F is being eliminated as of January 1st, 2020?
Yes, due to changes in federal law, Plans F and C will no longer be available. To discourage people from overusing the health care system, plans which pay the Part B deductible will get cut from Medicare.
What are the best Medicare supplement plans?
- Best overall Medicare supplement for new enrollees: Plan G.
- Best overall Medicare supplement before 2020: Plan F.
- Best low cost Medicare supplement: Plan K.
- Best alternative to Plan G Medicare supplement: Plan N.
What is a Medicare supplement plan?
Medicare Supplement policies are private health insurance designed to cover gaps in Original Medicare. They are also known as Medigap plans. These take care of costs such as copays, coinsurance, and deductibles which can become expensive if you need regular care from a doctor or hospital. If you need medical care while traveling outside the U.S., you can buy Medigap policies to help cover those costs. As a supplement to Original Medicare, you’re required to have Part A and Part B before you canget a Medigap policy. This way, Medicare is responsible for the Medicare-approved costs of the covered care, and the remainder is covered by your Medigap plan.
What is the most expensive Medicare supplement plan?
Optimal coverage comes with higher costs, making Plan F the most expensive Medigap plan. Plan F is known as “first-dollar coverage” and it takes care of everything provided during a doctor or hospital visit. Your only responsibility is for dental, vision, medications, and equipment, such as hearing aids.
Why is Plan F being discontinued?
The Federal government ended the Plan F option for new enrollees last year to keep the healthcare system from being overused by patients who had their deductibles covered. The next best coverage after Plan F is Plan G.
Is Plan G better than Plan F?
Medigap Plan G offers every advantage of Plan F except for the deductible, which you have to cover. Because it isn’t as comprehensive as Plan F, Plan G is more affordable.
What is the best and cheapest Medicare supplement insurance?
For people who don’t go to the doctor often, Plan K is worth considering. It is the most affordable because it provides just 50% of Medicare Part B coinsurance, the Part A deductible, blood, skilled nursing, and Part A hospice costs. For comparison, Plan G and others offer full coverage of these expenses, and more.
Is Medicare supplemental insurance worth it?
It’s hard to argue against plans which cut your traditional Medicare costs. For most people, having the extra coverage these supplemental plans provide is common sense, unless they want the specific features of a Medicare Advantage plan.
Do I really need supplemental insurance with Medicare?
Most people would benefit from not having to pay out-of-pocket to stay healthy. Medicare supplement insurance or a Medicare Advantage plan offer vital savings now, but are indispensable should a catastrophic health issue occur.
What is the most popular UnitedHealthcare Medicare Supplement plan?
Of the 10 Medicare-approved Medigap plans, Plan G and Plan N are the most popular. Plan F is no longer available to new Medicare enrollees as of 2020, but it is still popular among people who bought this plan prior to 2020.
How much does Medigap insurance cost?
- Plan F$128–$342
- Plan F (high deductible)$22–$88
- Plan G$106–$325
- Plan G (high deductible)$29–$58
Who qualifies for Medigap?
Before getting a Medicare supplement plan, you need to be enrolled in Medicare Part A (hospital insurance) and Part B (medical insurance). People with Medicare Advantage Plans who want to go back to Original Medicare can buy a Medigap policy prior to switching.
Is Medigap insurance worth the cost?
The security of having lower or no out-of-pocket healthcare costs can offset the premiums you’ll have to pay for whichever Medigap plan you choose, which vary depending on the benefits offered.
How Much Is Medigap per month?
The national average cost for Medicare Supplement Plan F is $1,824 annually, which is $152/month; Medigap Plan G will cost you around $143 per month.
Is Plan G the best Medigap plan?
Since Plan F was discontinued for new enrollees as of 2020, Plan G offers the most coverage for people 65 and older. It has a lower premium than Plan F and duplicates its benefits, except for the Part B deductible.
Is it better to have Medicare Advantage or Medigap?
It depends on your specific needs, but for most people a Medigap plan is very useful in supplementing the coverage of Medicare Part A and Part B. A Medicare Advantage plan is an affordable way to get healthcare coverage not offered by Original Medicare.
What is the most popular Medicare supplement plan?
Historically, Plan F has been the most popular because it covers all the out-of-pocket costs Medicare does’t pay for. This includes the 15% extra charge billed by providers who do not take Medicare as full payment.
Does Medigap cover prescription drugs?
Since January 1, 2006, no Medigap policy came with prescription drug coverage. You have two options to get covered, enrolling in either a Medicare Prescription Drug Plan (Part D) or a Medicare Advantage plan.