Medicare Supplement Plan F

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Medicare Plan F is one of the most comprehensive supplement plans, covering 100% of all your cost-sharing. Plan F is for beneficiaries looking for full coverage for all out-of-pocket costs, including deductibles, coinsurance, and copayments. There are some important changes that impact newer beneficiaries regarding Plan F, we’ll explain below.

What is Medicare Plan F?

Plan F is a top dollar plan covering EVERY gap that Medicare leaves up to the beneficiary to pay. Once enrolled in this policy; you’ll have $0 cost-sharing, you’ll only be responsible for your monthly premium. Let’s discover more about what makes Plan F the best policy available for most beneficiaries.

What Does Medicare Plan F Cover?

Plan F is a first-dollar coverage plan. That simply means after Medicare pays its share, Plan F pays the rest. Thus, leaving you with $0 out-of-pocket expenses.

  • Full coverage for Part A and Part B deductibles
  • Coverage for Part A and Part B coinsurance or copayments
  • Covers the remaining 20% that Part B doesn’t cover
  • Coverage on Excess charges
  • Skilled Nursing Facility Coinsurance
  • Coverage on foreign travel emergency expenses

Medicare Supplement Plan F Comparison Chart for 2020

Medicare Supplement Plan F Comparison Chart for 2020

Plan F is The Ideal Plan for Beneficiaries Who:

  • Our switching to another Medicare Supplement plan outside their Initial Open Enrollment Period
  • See the doctor or visit the hospital somewhat frequently
  • Like to travel abroad
  • Are concerned about excess charges

How Does Medicare Plan F Work?

Let’s say you need a lung transplant. Part A covers the sourcing of the transplant organs as well as the surgical procedure itself. Then, Part B covers outpatient medical services such as doctors’ visits, preventive care, home and mobility equipment, home healthcare needs, etc.

The total price for both hospital and outpatient services comes to $80,000. Once Medicare pays its portion of the medical costs, the remaining $16,000 is billed to the Medicare Supplement insurance carrier. You pay nothing out-of-pocket.

Without a comprehensive supplement plan to fill in these gaps in coverage, such as Medicare Plan F, the remaining $16,000 is sent to you.

How Much Does Medicare Plan F Cost?

There are many factors that impact the cost of the premium. These factors include where you live, gender, age, etc. The average premium is usually somewhere around $150 per month. However, it could be more or less depending on the zip code as well as other factors.

Beneficiaries with two addresses are supposed to apply for coverage in the state that taxes are filed. However, those spending six months in both states should consider quotes from both.

Live in Iowa and Florida? Well, Iowa probably has lower rates, so enroll in a plan there. Although, between Texas and Florida, a Florida plan could be more affordable. It’s important to understand that insurance companies can adjust rates when moving full time to one location.

However, it’s essential to understand that premiums are different for everyone. For example, Plan F premiums are a bit higher for males than females.

Why is Medicare Plan F Being Discontinued?

In 2020, Plan F and C are retiring. CMS has discontinued all first-dollar coverage plans in 2020, including Plan F. This also includes the high-deductible Plan F. For those beneficiaries already on these plans, you’ll be grandfathered in and won’t be impacted by this change.

Who Can Still Enroll in Medicare Plan F After 2020?

As long as you become Medicare eligible by December 31st, 2019, you can still sign up for Plan F, Plan C, or HD Plan F after 2020. To clarify, if you turned 65 years old before 2020, you can still enroll in any of the three first-dollar coverage plans after 2020.

If you did not become Medicare-eligible until after 2020, you cannot enroll in Plan F. The plan with the most benefits that you’re eligible to enroll in is Plan G.

Does Medicare Plan F Come with Prescription Drug Coverage?

Plan F will cover the costs of prescription drugs administered at the hospital. However, Plan F will NOT cover prescription drugs that are prescribed by a doctor and taken at home. That’s where Part D comes in handy.

What is the Difference Between Medicare Plan F and Plan G?

Plan G offers excellent benefits and is sometimes more suitable than Plan F. The only difference between Plan F and Plan G is that you’ll have to pay the Part B deductible, but the lower premium is worth it. Some beneficiaries save more money by paying their Part B deductible.Frank-Plan-F-vs-Roger-Plan-G

When Can I Sign Up Medicare Plan F?

Beneficiaries enrolled in Medicare Part A and B can sign up for Medicare Plan F at any time. Medicare Supplements do not have enrollment periods like Medicare. Although the best time to sign up for Plan F is during your one time Medigap Open Enrollment Period. However, you can still apply after the 6-month mark of your Part B effective date. You’ll just have to answer some medical questions and wait for application approval.

Is there a difference between Part F and Plan F?

No, Part F and Plan F are the same things. The correct terminology is Plan F. When someone is referring to Medicare parts, they’re referring to Parts A-D.

How to Apply for Medicare Plan F

It doesn’t cost you anything to have your own personal licensed Medicare agent in your back pocket. Medicare is constantly changing. Keeping up with all these changes, across all the states, is nearly impossible. But not for our agents! They can help you make an informed, educated decision based on all your healthcare options.

Plus, when you sign up for a Medicare plan through us, you’ll get unlimited, FREE support from our Client Care Team.

If you have any problems with the coverage, like a doctor putting in the wrong code for a service or Medicare denying a claim, we’re here to help at no additional cost!

Give one of our agents a call today. They’re here to help you learn about Medicare. Or, you can complete our online rate comparison form to see Medigap Plan F rates side by side of all the top carriers in your area.

10 Comments

  1. Hello, I just turned 68 last month, ,in good health. No underlying illness, no maintenance medicines, just taking over the counter supplements/ medicines. I just applied for Part B since I was working until April of this year. I travel out of the country often, except this covid-19 season. My question is which is better for me the Medgap or the Advantage and which one is better for me Plan F or Plan G. Will I be still accepted if I’ll enroll for it? I still can’t decide. Thanks

    • Hi Ella! Thank you for your question! So, if you travel, you’ll definitely want to go with a Medigap plan. If you’re healthy you shouldn’t have any issues enrolling in one. The only difference between Plan F and Plan G is the Part B deductible for $198. Plan F will cover it, Plan G will not. I would compare the premiums for both and then decide if you want to pay the premium for Plan F or the premium for Plan G knowing you have to pay the Part B deductible out of pocket. Give us a call, we can pull all the carriers in your area to let you know which one offers the lowest premium in your area. We also have a great article that compares Plan F, Plan G, and Plan N.

  2. My Sister on disability and needs a secondary insurance she has pre-existing condition and is only 44. So my question is can she get a secondary insurance? If yes which ones are available for her to sign up for?

    • Hi Dolores! The answer to this depends on your state. Not all states offer Medigap plans to those on disability under 65. If your state does, then she would have two Open Enrollment Periods for a Medigap plan where pre-existing conditions don’t impact your approval. These OEP periods only last 6 months. Her first OEP would’ve started with her Part B effective date, her second would start when she turns 65. Give us a call and we can look up the secondary insurance plans available to those under 65 in your state.

  3. I have been diagnosed with stage 3 COPD and am on disability. I am currently 63 years old, and will be eligible for Medicare in April of 2019. Can I still enroll in Plan F or G in April, and be covered for the pre-existing condition?

    • Hi Steve! Yes, you’ll be able to enroll in Plan F or Plan G in April. You’ll be granted guaranteed issue for 6 months after your Part B becomes in effect. During that 6 month time period, you cannot be turned down due to any pre-existing conditions. If your Part B effective date is in April, you’ll have until September 2019 to enroll with guaranteed issue.

  4. I have stage 4 COPD and was placed on disability 2 years ago. I’m 64 and am now on Medicare. Can I get plan F and what are the cost? I no longer qualify for Medicaid but can not afford copays and the 20% in medical expenses that Medicare A and B don’t cover. I have 3 different breathing machines and 7 meds I use daily. What are my options?

    • Hi Cheryl! Yes, you’re eligible for Plan F. The cost depends on many factors including your location, age, and if you’re in your Open Enrollment Period or not. Since you’re on disability, you’ll have two Open Enrollment Periods for Plan F. Your first enrollment period would be 6 months from your Part B effective date. However, since you’re under 65, the premium will be higher if you enroll now. Your second enrollment period would be 6 months from the 1st day of the month you turn 65. If you wait to enroll in Plan F until you turn 65, the premium will be less. To find out the cost of Plan F now vs after you turn 65, give us a call. Unfortunately, we can’t provide you with an accurate quote without gathering some more information from you.

  5. Im needing some help. my husband who is 48yrs old has type 1 diabetes got on disability 2016 Medicare A&B started Feb 2018. He developed ESRD Feb 2018 started dialysis, With all specialty Drs him unable to drive d/t vision problems and me working nights having difficulty getting him to all his appointments. (Live small town Darrouzett Tx & closest city with all specialty drs like 2-3hr drive one way) He moved to Jackson Tennessee in June to live with his mom and dad who are retired to help him get to all specialty drs & appt. Issue Im having is my insurance through my employer has dramatically increased to $1600/mo/family. I cant afford it. Im wanting drop my insurance plan through my employer. So since my husband moved to Tennessee can I drop him off my insurance get him supplementary insurance in Tennessee? I don’t want to drop my insurance until I know he has secondary or supplementary insurance to back up his Medicare. Im healthy and so are our kids. Im not worried about us its my husband im worried about. can you please lead me in the right direction on what to do or where I need to go to get insurance for him.

    • Hi Sherrie! There’s a lot more information we would need to gather from you regarding your situation to point you in the right direction. for starters, we would need to know what parts of Medicare your husband is currently enrolled in, when he enrolled, the size of your employer to determine primary and secondary coverage, etc. Give us a call and one of our agents will definitely be able to help you!

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