Medicare Supplement (Medigap) Plan F

Of the 10 plans, Medigap Plan F provides the most coverage, so it is one of the most popular plans. It covers both Original Medicare Part A and Part B deductibles, plus all copays, and all coinsurance. With Plan F, you have zero out-of-pocket expenses. This plan truly leaves its beneficiaries with peace of mind, but unfortunately, like Plan C, is no longer available to beneficiaries new to Medicare. Due to MACRA, from the 1st of January, no Medigap plans offer coverage for Part B deductible. Alongside Medigap plan F, there is another option for this plan and it is called a High-Deductible Plan F.

What Does Medigap Plan F Cover?

As mentioned earlier, Plan F offers the most complete benefits package among all Medicare Supplement policies. It covers:

Original Medicare Part A deductible
Part B deductible
Part B excess charges
Part B copayments
The first three pints of blood used in a medical procedure
Skilled nursing facility care coinsurance
80% of foreign travel emergency coverage, up to plan limits
Part A coinsurance and hospital expenses up to an additional 365 days after Medicare’s benefits are exhausted

This plan doesn’t offer prescription drug coverage,

Because plan F is no longer available to new Medicare beneficiaries, the second good option for new Medicare beneficiaries is plan G. Only thing that plan G doesn’t cover is a Part B deductible, which is 226$ in 2023. So, if you want to have peace of mind with comprehensive coverage, you should consider Plan G as a good replaceable option.

Plan F cost

The only cost of plan F is a monthly premium which can be very high in comparison to other Medigap plans, but it provides all amount of coverage one beneficiary can get. The monthly premium can be from 150$ to more than 400$ a month. There are several factors that can affect the cost of monthly premiums, like ZIP code, age, and gender, so before purchasing a policy check with an insurance agent what your costs will be. If you determine that your costs are too high you can check a High Deductible plan as an alternative. This plan has a deductible that beneficiaries are obligated to pay before the policy starts to pay for everything, but monthly premiums may be lower. In 2023, the deductible amount is 2700$, but monthly premiums range from 20$ to 40$.

Remember that those plans are only available to beneficiaries who were eligible for Medicare before the 1st of January 2020.

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Why a Medicare Supplement Plan Is Worth It

Examine Medigap Plan F’s coverage above. It could save you a great deal of money if you see a doctor often or have multiple, lengthy stays in a hospital. Besides having no out-of-pocket expenses, you get to choose your own doctor and no referrals are required to visit specialists. Plus, your coverage is guaranteed renewable, meaning it can’t be canceled due to your health or the number of claims. Out-of-pocket costs whit Original Medicare don’t have a cap on how much you can spend on services, so there is no doubt that good Medigap policies can save you a great amount of money.

How Much Can I Save With a Medicare Supplement Plan?

Medicare Part A’s deductible is currently $1,600 each benefit period, when you are admitted to the hospital, and it is a large amount of money you can save on hospital costs. Besides Part A deductible it pays Part B deductible too, plus 20% of coinsurance for any hospital and medical needs that are covered under Original Medicare. Because all of it is paid through this plan, you get the most complete coverage and don’t need to worry about any out-of-pocket costs.

Medigap policies are purchased through private insurance companies, so if you buy a plan through us, you will get a competitive rate that most major carriers cannot match. For questions or assistance, call Turning 65 Solutions at 830-308-8953. We look forward to helping you!

830-217-6711