Medigap Plan F
Out of all the available Medigap plans, Medigap Plan F is the biggest and offers the most benefits. It is very popular for this same reason, and seniors love how much coverage it provides them. For some people, just having all supplementary expenses covered means they get to enjoy peace of mind about their healthcare. Plan F might be able to do the same for you. Let’s look in depth at this health insurance plan and how it works.
If you want to look up quotes for Plan F at any time, you can do so completely free of charge here on our site. We have a free search tool that you can make use of, and you will be able to search for quotes for Plan F from a variety of different health insurance companies in your area. You can quickly see how they compare and who has the cheapest option for you. You can also use the site to look up quotes for other kinds of Medigap plans, and that will show you how they compare to Plan F. You might find a better deal or a better fit than this very popular Medicare Supplement plan.
Medicare Plan F Benefits
If you were to enroll in Plan F, what kind of benefits would you receive? It actually covers all of the Medicare supplemental expenses. These are healthcare services and costs that are associated with Medicare but not already covered by the Original Medicare plan. You can get them covered by Medicare Supplements, and only Plan F covers the entire list.
With Plan F, you get coverage for all of the following:
- Medicare Part A copays- You’ll be covered for per-visit expenses for your hospital stays
- Medicare Part A coinsurance- You get covered for the portion of hospice care you normally have to pay for.
- Medicare Part A annual deductible- Coverage for the yearly expense of $1,408 for Part A services
- Medicare Part B copays- Covering you for per-visit expenses for doctor’s office visits and emergency room care, among others
- Medicare Part B annual deductible- You will be covered for the yearly cost of Medicare Part B outpatient services
- Medicare Part B excess charges- Coverage for care received while at a doctor’s office where Medicare is not accepted.
- Nursing care- Coverage for coinsurance costs that would normally have to be paid at a skilled nursing facility for each visit.
- Foreign travel exchange- Taking care of 80% of the cost of being transported out of the country for emergency medical services, as well as $50,000 over your lifetime
- Blood- Coverage for the first three pints of blood you use for the year, with the rest already covered by Original Medicare
How to Enroll in Medicare Supplement Plan F
It’s usually easy to enroll in a Medicare Supplement plan, as they are available to anyone who is 65 or older. Once you are 65, you get access to a lot of different Medicare plans, including Medicare Advantage, Medicare Part D and Medigap, or Medicare Supplements.
If you are 65, there is usually not reason why you should not be able to enroll in the Medicare Supplement plan of your choice. That’s especially true if you enroll when you first become eligible, around your 65th birthday. You have a 7-month window there that is called Open Enrollment. This is the ideal time to sign up, since you get the best rates and guaranteed enrollment in any plan you apply for. If you want to apply later on during the Annual Enrollment period, from October 15th until December 7th, then you could pay a higher rate. Some insurance companies may also deny you approval based on your medical conditions. Your health could be the reason you pay more or are denied coverage. This is why we urge seniors to enroll at age 65 during Open Enrollment, if at all possible.
Medicare Supplements do not always stay as active plans. Sometimes, Medicare or the government will order plans to be delisted, which means that they cannot be sold to new subscribers. Medicare Supplement Plan F is one of those delisted plans. The order for that delisting came through a few years ago, but it has only recently gone into effect. Now, anyone enrolling in Medicare after January 2020 is no longer able to enroll in Plan F, as well as other delisted plans.
The reasoning for this is because Plan F can be quite expensive. It is considered a prestige plan with complete coverage. No other Supplement plan can do that, and because of this status, insurers have been able to charge a lot more for it than they do some of the other Medicare Supplements. However, if you look at the benefits among the Medicare Supplements and compare Medigap Supplement Plan F to some of the similar options, you will see that the benefits are almost identical. There isn’t a need for a major pricing disparity, and yet it exists. So, the government took action and ordered Plan F delisted.
Is Medicare Plan G Better Than Plan F?
We want to talk to you about an alternative to Plan F. That would be Medigap Plan G. This offers you similar benefits. If you enroll in Plan G, you can get covered for all of the copayments for Medicare parts A and B. You also get coverage for nursing care coinsurance when it is provided at a skilled nursing facility. You’ll be covered for foreign travel exchange costs as well, for the same 80% per incident. Coverage for the first three pints of the year is included as well. Plan G also covers the cost of Medicare Part B excess charges and the Medicare Part A annual deductible. It does not cover the Part B annual deductible of $198, though. The final bit of coverage is for Medicare Part A hospice coinsurance.
Altogether, these make a powerful set of benefits for the average consumer, and most of your common medical expenses will be covered between Medigap Plan G and Original Medicare.
The one bit of supplementary coverage missing, the Part B annual deductible, is not a major expense for most people. Plan G is one of many Medigap plans that does not bother to cover it because it isn’t seen as essential by most insurance experts. This is a medical expense that is usually cheaper to just pay on your own rather than to have a Medicare Supplement plan pay it for you.
That is something that seniors should watch for. There will be times where it is cheaper to just pay for a medical care cost out of pocket rather than to have a medical insurance plan provide coverage for it.
Should you enroll in Plan G rather than Plan F? You can look at their prices and see. When you compare rates on these two plans, keep in mind that the only difference in their benefits is one $198 charge each year. If you pay more than that for Plan F than you do for Plan G, then you are losing money by enrolling in Plan F. This is why we usually consider Plan G a better, more cost-effective option. It is simply a better value overall the majority of the time.
Plan G is not your only alternative. You can get other similar plans as well, such as Medigap Plan N. We think this one can save most people even more money, and you should take a look at its benefits and prices as well. Spend some time looking at rates for Medicare Supplement before you choose one to enroll in. You want to be sure you are getting enough coverage so that you don’t end up paying a bunch of money out of pocket and struggling to meet your medical bills each month. You also want to ensure that you can afford the health insurance plan that you are looking for. The price and the coverage the plan provides are important factors. You should also consider the kind of customer service experience you get and the perks that individual insurance companies will provide. These factors can help you to make an informed decision that you will feel good about later on in the year.
When choosing a health insurance plan, whether it is Plan F something else, you want to be certain that it covers you well or the coming year. Don’t just look at what kind of medical expenses you are paying for right now. Consider what you might be paying for in the coming year. Your doctor can help you get some idea of what those expenses might end up being. It is a good idea to consult with your doctor before you make a choice for Medicare supplementary coverage.
Is Medigap Plan F right for you? After you check some prices and compare medical benefits, you can make that decision and feel good about your choice. If you need any help, feel free to call us up and use our site as much as you want in order to source quotes on Plan F and other Medigap plans.