Medigap Plan F
For the past decade Medigap Plan F is by far the most popular Medigap plan chosen by Baby Boomers. In fact, roughly 57% of all people who purchase a Medigap plan purchase a plan F.
Why? Because, Medicare Supplement Plan F is most the comprehensive plan.
This is the reason some people call it the “Cadillac Plan”, because it covers all the bells-and-whistles that Original Medicare Parts A and B doesn’t.
What does Plan F Cover?
Medigap Plan F offers first-dollar coverage. So, after Medicare pays its share of expenses (roughly 80%), Medigap Plan F pays the rest.
That means $0 dollars in out-of-pocket costs. No bills, no hassles.
Here are the benefits of enrolling in a Plan F:
- Plan F pays both your Medicare Part A and Part B deductibles.
- Plan F pays the Medicare Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are extinguished.
- Plan F pays your Medicare Part B coinsurance, which is typically the 20% that is NOT covered by Original Medicare.
- Plan F covers the Medicare Part B Excess Charges.
- Plan F gives you the freedom to choose any doctor or provider that accepts Medicare in the United States.
- Plan F has $50,000 lifetime foreign travel benefit.
- Plan F is also Guaranteed Renewable. Meaning, your coverage can NEVER be cancelled due to health conditions or an excess number of claims. As long as you pay your monthly premiums, you’re good to go.
What doesn’t Plan F Cover?
Medigap Plan F doesn’t cover Preventative Care or At Home Recovery Care, these are typically covered by Medicare.
Did You Know Plan F is Going Away?
Effective January 1st, 2020, Medicare will no longer allow new Medicare beneficiaries the option of enrolling in Medigap Plan F or Plan C.
In 2015, Congress passed the Medicare Access and CHIP Reauthorization Act which will outlaw the sale of Medigap plans (on or after January 1st, 2020) that pay for the Part B deductible for newly eligible Medicare beneficiaries.
Since Medigap Plan C and Plan F both pay for this Part B deductible, they will no longer be available to new Medicare beneficiaries.
The reasoning behind this new law is that Congress doesn't want people to have Medigap plans that pay for “literally” everything because that might encourage people to access medical care more often.
So, what do I do if I already have Medigap Plan F, will I lose my benefits? Don’t worry, if you are already enrolled in a Plan F you will be “grandfathered” in and not lose your coverage due to the change.
Wow, that’s a lot of information to digest in one sitting . . .
So, if you’re like most people when it comes to choosing a Medicare Supplement plan, you may feel like your “spinning-your-wheels” just trying to figure it all out.
If so, you’re not alone . . .
Give us a call at 1 (844) 280-0785 and let us do all the heavy lifting for you . . .
|Medicare Supplement Insurance Plans (Medigap)|
|Part A coinsurance and
hospital costs (up to an
additiona 365 days after
Medicare benefits are used)
|Part B coinsurance or
|Blood (first 3 pints)||100%||100%||100%||100%||100%||100%||50%||75%||100%||100%|
|Part A hospice care
coinsurance or copayment
|Skilled nursing facility care
|Part A deductible||100%||100%||100%||100%||100%||50%||75%||50%||100%|
|Part B deductible||100%||100%|
|Part B excess charges||100%||100%|
|Foreign travel emergency
(up to plan limits)
* Plan F is also offered as a high-
dedutible plan by some issuers in
some states. If you choose this
option, this means you must pay for
Medicare-covered costs (coinsurance,
copayments, deductibles) up to the
deductible amount of $2340 in 2020
before your policy pays anything. Plan C and plan F are only available to those who are not new to Medicare.
** Plan N pays 100% of the Part B coinsurance, except for a copayment of up to $20 for some office visits and up to a $50 copayment for emergency room visits that don't result in an inpatient admission.
*** For Plans K and L, after you meet your out-of-pocket yearly limits and your yearly Part B deductible ($198 for 2020), the Medigap plan pays 100% of covered services for the rest of the calendar year.