Medigap Plan F

Medigap Plan F is the most common and comprehensive Medicare Supplement plan. It covers everything that Medicare doesn’t cover at the doctor and hospital so that you do not have any out of pocket costs. For this reason, it is the most popular plan in most areas. It eliminates the need for you to pay the Medicare deductibles and co-pays and fully fills in Medicare’s “gaps”.

Medigap Plan F Quotes

Medigap Plan F – What Does This Plan Cover?

Medigap Plan F covers the things not covered under Medicare Parts A & B. You do have to be enrolled in both parts of Medicare to sign up for any Medicare supplement, including Medicare Supplement Plan F. Here is a rundown of the “gaps” in Medicare that are filled by Medigap Plan F:medigap plan f

    • Plan F pays the 20% that Medicare doesn’t cover at the doctor and hospital. This is called coinsurance and it is picked up entirely by the Plan F.
    • Plan F also pays for the Medicare deductibles. For 2017, the Medicare Part A deductible is $1,316/benefit period and the Part B deductible is $183/year.
    • The Medigap Plan F covers the Part B Excess Charges. This occurs if a physician charges more than Medicare allows.

How Does Medigap Plan F Work?

Medigap Plan F works just like other Medigap plans. First and foremost, it can be used at any doctor or hospital that takes Medicare – there are no networks on Medigap plans. All doctors that take Medicare are required to accept your Medigap plan, regardless of what company insures you.

Also, Medigap plans pay claims through the Medicare “crossover” system. This system ensures timely and accurate processing of claims. Also, it standardizes claims payments across companies, making the comparison of Plan F rates the most important factor in picking the best Plan F for your situation.

Who Is Medigap Plan F Best For?

This plan is ideal for people in the following situations (and many other situations):

      • People who have some pre-existing conditions that require ongoing medication or treatment. In some cases, you will have to be underwritten when you apply for a Medicare supplement plan. However, if you are in an open enrollment period (i.e. turning 65) or guaranteed issue period (losing employer coverage, losing Medicare Advantage plan coverage, etc.), you are exempt from underwriting. And if you ARE in one of these periods and have pre-existing conditions, you should certainly look seriously at Plan F.
      • People who like the freedom of not having any out of pocket co-pays at the doctor/hospital.
      • People who like predictable medical expenses. You pay your monthly premium, then you don’t have any additional medical expenses.

Medigap Plan F Is Just What I Need – What Is My Next Step?

You can sign up for a Medicare Supplement plan (any plan) any time of the year. There are no special enrollment periods – this only applies to Medicare Part D and Medicare Advantage plans. So, you can sign up for a Medigap Plan F right now. If you have a Plan F currently or another Medicare Supplement plan, switching over is easy to do. Plan F can be a great Medigap option for predictable medical expenses and stability. However, it is important to understand the future of Medigap Plan F.

Medigap Plan F in the Futureplan g vs plan f

Legislation that passed in 2014 put the future of Plan F in jeopardy. This legislation eliminated “first dollar” coverage, which includes Medigap Plan C and Medigap Plan F. So, how does this affect you?

If you already have a Plan F, you are “grandfathered in” and you can still keep it after 1/1/2020. Whether you should or not is another question. Most analysts agree that Plan F rates will likely go up at a higher percentage as compared to other plan options after the 1/1/2020 date. This is because there will be no new/younger Medicare beneficiaries added to the risk pool after that date. Historical evidence supports this, as other plans that have been eliminated (such as Plan J in 2010) have seen, on average, higher rate increases once the plan is closed. Medigap Plan G can be a viable, comprehensive alternative.

If you are shopping for a Medigap policy, you may want to consider alternative options for the reasons outlined above. Plan F rates will likely not be as stable moving forward as some of the other plan options. For that reason, we recommend looking at other options such as Plan G or Plan N.

To get quotes on the plan or more information, go to Medigap Plan F quotes or you can reach us by phone toll-free at 877.506.3378.

We look forward to helping you compare plans and serving your Medicare Supplement insurance comparison needs.