Medigap Plan F

If you're anything like most people trying to figure out Medicare, it can feel like you’re decoding a secret language. With all the letters, plans, and options, it’s easy to get overwhelmed. One plan that gets a lot of attention for its comprehensive coverage is Medicare Supplement Plan F. But what exactly is it, and how do you know if it’s the right choice for you? Let’s break it down in a way that makes sense and feels a bit more relatable.

What is Medicare Supplement Plan F?


Medicare Supplement Plan F, often called Medigap Plan F, is one of the 10 Medicare Supplement plans available in most states. These plans are designed to "fill the gaps" left by Original Medicare (Part A and Part B), helping cover out-of-pocket costs such as deductibles, copayments, and coinsurance.

Plan F is popular because it offers the most comprehensive coverage of all the Medigap plans. In fact, it covers 100% of Medicare-approved expenses that you're normally responsible for, leaving you with no out-of-pocket costs for medical services.

What Does Plan F Cover?


Here's a quick breakdown of what Medicare Supplement Plan F takes care of:
  • Part A hospital coinsurance and hospital costs (up to an additional 365 days after Medicare benefits are used)
  • Part A hospice care coinsurance or copayment
  • Part A deductible
  • Part B coinsurance or copayment
  • Part B excess charges (any amount a doctor charges above what Medicare will pay)
  • Part B deductible
  • Skilled nursing facility care coinsurance
  • First 3 pints of blood each year for medical procedures
  • Foreign travel emergency care, up to plan limits
Essentially, if Medicare covers it, Plan F covers your share too. It’s peace of mind knowing that most, if not all, of your medical bills will be paid for.

What Medicare Supplement Plan F Doesn't Cover?


Here’s what Medicare Supplement Plan F does not cover:
  • Prescription drugs are not covered by Plan F; you’ll need a separate Medicare Part D plan for that.
  • Routine dental, vision, and hearing care like checkups, glasses, and hearing aids are not included.
  • Long-term care, such as nursing home or assisted living stays, is not covered under Plan F.
  • Private-duty nursing, for extended in-home care, is not covered by Plan F.
  • Cosmetic procedures are not included in Plan F’s coverage.
  • Healthcare outside the U.S., beyond emergency services, is mostly not covered.
  • Alternative treatments like acupuncture or holistic therapies are not covered by Plan F.
  • Routine podiatry or foot care (unless medically necessary) is not covered.

Types of Medicare Supplement Plan F


While Medicare Supplement Plan F is essentially one comprehensive plan, there are two variations of it that you might come across:

1) Standard Medicare Supplement Plan F:
Think of this as the full-package, worry-free option. With the standard version of Plan F, almost all your healthcare costs are covered. It’s like having a VIP pass that means you don’t have to think about paying for doctor visits, hospital stays, or any other out-of-pocket expenses. Everything’s taken care of—you just pay your monthly premium, and that’s it.

This is the most popular version because of its simplicity and peace of mind. If you like to know exactly what you're paying and don't want any surprise bills, this is the way to go.

2) High-Deductible Plan F:
Now, this is for the budget-conscious folks. Imagine you’re booking a trip and you choose a cheaper hotel, knowing you’ll spend a little more on meals and activities once you’re there. The high-deductible Plan F works similarly. You pay a much lower monthly premium, but you have to cover more of your medical costs upfront until you hit a deductible.

In 2024, the deductible for this plan is $2,850. That means you’ll need to pay out-of-pocket for your medical expenses until you hit that amount. Once you reach the deductible, the plan covers 100% of the Medicare-approved costs, just like the standard Plan F.

Key Differences Between Standard and High-Deductible Plan F:
  • Premiums: High-deductible Plan F has much lower monthly premiums compared to the standard Plan F. However, it requires you to cover more of your medical costs upfront before the plan pays for anything.
  • Out-of-Pocket Costs: While the high-deductible plan saves you money on premiums, you’ll need to be prepared to pay for your healthcare costs up to the deductible limit.

Who’s Eligible for Medicare Supplement Plan F?


Medicare can be a bit confusing, and with so many different plans, it's easy to feel lost. One of the plans that used to be incredibly popular was Medicare Supplement Plan F. It offered nearly complete coverage, which is why many people wanted it. But here’s the catch—it’s not available to everyone anymore. Let’s break down the eligibility for Plan F so it’s a little easier to understand.

Key Eligibility Requirement


The most important thing to know about Plan F is that it is no longer available to new enrollees after January 1, 2020. This means that only people who were eligible for Medicare before January 1, 2020 can still sign up for or keep Plan F.

Are You Eligible for Plan F?


1) If you became eligible for Medicare before January 1, 2020: You can still enroll in Plan F or keep it if you're already enrolled. This includes anyone who was already 65 or had a disability that qualified them for Medicare by that date.

2) If you became eligible for Medicare after January 1, 2020: Unfortunately, Plan F is no longer an option for you. However, you can consider other Medigap plans like Plan G, which offers similar benefits but doesn’t cover the Medicare Part B deductible.

Why Did They Change the Rules?


You might be wondering, why stop offering such a great plan? The change was part of a larger effort by Congress to control Medicare costs. They decided that Medigap plans (like Plan F) that cover the Medicare Part B deductible should be phased out for new enrollees. This was done to ensure that everyone contributes a little bit towards their healthcare costs, rather than relying on full coverage.

How to Buy Medicare Supplement Plan F?


  • Compare prices from different insurers since coverage is standardized, but premium costs vary between companies.
  • Decide between standard and high-deductible Plan F, based on your budget and healthcare needs.
  • Shop during your Medigap Open Enrollment Period to avoid medical underwriting and guarantee acceptance without higher premiums for pre-existing conditions.
  • Choose a reputable insurance provider by reading reviews and checking for any added perks or discounts.
  • Fill out the application online, by phone, or by mail, providing your Medicare number and Part A/B effective dates.
  • Confirm your coverage once approved, and keep your Medicare Supplement ID card ready for use at doctor visits.

What Happens If You’re Already Enrolled in Plan F?


If you’re already enjoying Plan F’s comprehensive coverage, you don’t need to worry—nothing changes for you. You can keep your plan as long as you continue to pay your premiums. There’s no need to switch unless you feel like exploring other options.

If You’re New to Medicare, What’s the Best Alternative?


If you’re new to Medicare and missed out on Plan F, don’t panic! Medicare Supplement Plan G is a great alternative that offers very similar coverage. The main difference? Plan G doesn’t cover the Medicare Part B deductible, which means you’ll have to pay that small deductible yourself. After that, it covers pretty much everything else just like Plan F, and it often comes with slightly lower premiums.

Why Was Plan F So Popular?


Think about how nice it feels to know exactly what your healthcare costs are going to be, no matter what happens. That’s why people loved Plan F. It’s hassle-free, stress-free coverage—you just pay your monthly premium, and Plan F handles the rest. No need to calculate out-of-pocket expenses, no bills sneaking up on you. It’s peace of mind in a very complicated healthcare world.

Changes to Plan F: Can You Still Enroll?


Here’s where things get a little tricky. As of January 1, 2020, Medicare Supplement Plan F is no longer available to new enrollees. This means that if you weren’t eligible for Medicare before 2020, you can no longer purchase Plan F.

However, if you were already enrolled in Plan F or eligible for Medicare prior to 2020, you can still keep or purchase Plan F. Those who are grandfathered in can continue to enjoy its comprehensive benefits.

How Much Does Plan F Cost?


  • Standard Plan F premiums: Usually range from $150 to $400 per month, depending on your location, age, and other factors.
  • High-deductible Plan F premiums: Lower, at about $50 to $100 per month, but you’ll have a $2,850 deductible.

Pros of Medigap Plan F


  1. Complete coverage: Plan F covers all the costs that Original Medicare doesn’t—no surprise medical bills.
  2. No out-of-pocket expenses: Once you pay your monthly premium, you’re done. You won’t pay a cent more for covered services.
  3. Simplicity: You don’t have to worry about juggling deductibles or calculating how much you owe for healthcare. Plan F takes care of it.

Cons of Medigap Plan F


  1. It’s no longer available to new Medicare enrollees: If you became eligible for Medicare after 2020, you can’t sign up for Plan F.
  2. Higher premiums: All that peace of mind comes at a price—Plan F tends to have higher monthly premiums compared to other plans.
  3. Potential for premium increases: Since Plan F is closed to new enrollees, the pool of people on the plan is shrinking, which could mean higher premiums down the line.

Should You Consider Medicare Supplement Plan F?


If you’re already enrolled in Plan F or were eligible for Medicare before 2020, you’ve still got the option to stick with it. The big draw is knowing your healthcare costs are completely covered—no guesswork, no hidden fees. For those who really like having things all-inclusive and hassle-free, Plan F can be a great option.

However, if you’re looking to save a bit on premiums and don’t mind handling a small out-of-pocket cost (like paying the Part B deductible), Medicare Supplement Plan G might be a good alternative. It covers almost everything Plan F does, with the exception of that one deductible.

Conclusion:
Medicare Supplement Plan F is like the ultimate safety net. It gives you the peace of mind that you won’t have to deal with any out-of-pocket expenses for your Medicare-covered services. While it’s no longer available to new enrollees, those who still have access to it might find it’s worth keeping, especially if you don’t want to stress about healthcare costs.

If you’re not eligible for Plan F anymore, Plan G could be a strong contender for you. At the end of the day, the best choice is the one that makes you feel secure, comfortable, and confident in your healthcare coverage.

Have questions about Medicare or considering a switch? Drop them in the comments below! We'd love to help you figure out what plan works best for your situation.