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Medigap Plan F


Medigap Plan F is the most comprehensive Medigap plan, covering 100% of your cost-sharing. Plan F is for beneficiaries looking for full coverage for all out-of-pocket costs, including deductibles, coinsurance, and copayments. However, it is not available to everyone who is eligible for Medicare. We’ll help you understand when Plan F is the best choice for you and whether you’re eligible.

What is Medigap Plan F?

Plan F is the Medigap plan that covers EVERY gap Medicare leaves the beneficiary to pay. Once enrolled in this policy, you’ll have $0 cost-sharing and will only be responsible for your monthly premium.

What Does Medicare Plan F Cover?

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

Medicare Supplement Plan F covers:

Medicare Supplement Plan F Comparison Chart for 2021

Medicare Supplement Plan F Comparison Chart for 2021

How Much Does Medicare Plan F Cost in 2022?

The average cost of Medigap Plan F is around $130-$230 per month. There are many factors that impact the premium price.

These include your location, gender, age, tobacco use, and more. However, it could be more or less depending on your zip code as well as other factors.

A major factor that influences your monthly Medicare Supplement premium rates is the plan you select. With more benefits come higher monthly premiums. Thus, since Plan F offers the most comprehensive benefits, premium prices tend to be higher.

Is there a Lower Premium Option for Plan F?

Are you interested in enrolling in Plan F but find that the premium rates are more than you want to spend? High Deductible Plan F is a potential option for you to consider. If you are comfortable with reaching the higher deductible prior to receiving full coverage for this plan, the lower premium could be worth it.

Will Plan F Rates Go Up in 2022

Each year, Medigap plans are subject to rate increases. The pricing method used partially determines this, as well as your age when you enroll.

When choosing a plan, researching rate increase histories is beneficial. On average over the past five years, Plan F rate increases have been between 3% and 6%.

Ask your agent what the rate increase history is for the carriers with which you are considering enrollment. You’ll want to research carrier reviews before making a choice.

Why is Medicare Plan F Being Discontinued?

Plan C and Plan F are no longer available to newer beneficiaries. CMS discontinued all first-dollar coverage plans.

This includes standard Plan F, High Deductible Plan F, and Innovative Plan F. Beneficiaries already on these plans are grandfathered in and won’t be impacted by the change.

Who Can Enroll in Medicare Plan F?

To enroll in Plan F, you must first have Medicare Part A and Part B. You must also be eligible for Medicare prior to 2020.

Does Medicare Plan F Include 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. You’ll want to enroll in a Part D prescription drug plan to receive the coverage you need for such prescriptions.

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. Yet, the lower premium with Plan G is often worth it.

Some beneficiaries save more money by paying their Part B deductible.Medicare Plan F vs Plan G

When Can I Enroll in Medicare Plan F?

You can sign up for a Medicare Supplement plan at any time, as long as you are eligible. Although, the best time to sign up for Plan F is during your one-time Medigap Open Enrollment Period. If you apply outside of this window or do not have guaranteed issue rights, you’ll need to answer underwriting eligibility questions and wait for application approval.

FAQs

Is there a difference between Part F and Plan F?
No, Part F and Plan F are the same thing. The correct terminology is Plan F. When someone is referring to Medicare parts, they’re referring to Parts A-D.
What happens to your Medicare Plan F when you move to a new state?
You’ll generally be able to keep your Medigap Plan F when you move to a new state. In fact, the same plan might be less expensive where you move.
Are all Medigap Plan F the same?
The federal government standardizes Medigap plans to offer the same benefits regardless of carrier. Thus, Plan F is the same across all carriers, although the monthly premiums will vary for individuals.
Is Medicare Plan F still available?
Plan F is still available to beneficiaries who were Medicare-eligible prior to the plan’s elimination.
Is Plan F the best Medicare Supplement plan?
The best Medicare Supplement plan for you is the plan that provides you with the best value. For some, Plan F does this by covering all cost-sharing.
Is Plan F better than Plan G?
Plan F offers the most coverage of all Medigap plans. Yet, it isn’t available to all beneficiaries and the Part B deductible you save with Plan F might be less than the premium savings you get with Plan G.
Is Medicare Advantage better than Plan F?
The answer is different for each person. Your health care coverage goals will determine which is better for you. For example, if you don’t want to deal with restrictive doctor networks, Plan F is the better choice. But if keeping monthly premiums low is more important to you, an Advantage plan would be more suited to your needs.

How to Get a Medicare Supplement Plan F Rate Comparison

If you're interested in a cost comparison of Medigap policies near you, call the phone number above. A Medicare agent licensed in your state will help guide you through the process of choosing coverage. Don't have time to call now? Complete our rate comparison form online and we'll prepare quotes from top carriers near you.

Our services are free and no obligation. 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!

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Jagger Esch

Jagger Esch is the Medicare expert for MedicareFAQ and the founder, president, and CEO of Elite Insurance Partners and MedicareFAQ.com. Since the inception of his first company in 2012, he has been dedicated to helping those eligible for Medicare by providing them with resources to educate themselves on all their Medicare options. He is featured in many publications as well as writes regularly for other expert columns regarding Medicare.

6 thoughts on “Medigap Plan F

    1. Hi Theresa – yes, all doctors who accept Medicare also accept any Medicare Supplement plan to pay the balance.

  1. Hello,
    I am assisting my husband sign up for a Medicare Supplement. We are interested in Bankers Fidelity Plan F. I do not know how to enroll him into the current desired plan. He was recently eligible for Medicare on 11/01/2020. Where do we begin? Thanks

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