What is Medicare Supplement Plan F?

Medicare Supplement Insurance Plan F is the most comprehensive of all 10 standardized Medicare supplement plans. These plans are sold by private insurance companies, however, like Plan C, as of January 1st, 2020, new enrollees cannot purchase this plan.

Medigap Plan F is associated with a high premium compared with other plans, which most Original Medicare (Part A & B) beneficiaries are willing to put up with since the plan covers most of the gaps in their Original Medicare coverage and leaves them with little to no out-of-pocket amounts to pay. Medigap plans are sold by private insurance companies and they are standardized nationwide; meaning these plans offer the same base benefits regardless of where they are sold. The key difference between policies sold by different companies at different locations is the cost of their premium. Some companies may offer extra benefits with their Medigap plans for a higher price, however, the base benefits must stay uniform regardless of who sells the plans or where they are sold.

Medigap Plan F Eligibility
Before going into the details of Medigap Plan F benefits, here are the eligibility requirements for Plan F:

– You are at least 65 years old, a U.S. citizen or legal resident for at least five consecutive years
– You are currently receiving retirement benefits.

OR

– You are disabled and receiving disability benefits
– You have End-Stage Renal Disease (ESRD)
– You have Lou Gehrig’s Disease (ALS).

Medicare Supplement Plan F Coverage

– Hospital costs and coinsurance for Medicare Part A
– Deductible for Medicare Part A
– Coinsurance and copays for Medicare Part B
– Deductible for Medicare Part B

– Excess Charges for Medicare Part B
– The first three (3) pints of blood
– Part A hospice care coinsurance & copay with room & board
– Coinsurance for skilled nursing facilities
– Limited foreign travel emergency care

*For general information on Medigap plans, coverage, coinsurance, and deductibles; click here.

Medicare Supplement Plan F will not provide coverage for:

– Routine vision care
– Routine dental care
– Hearing aids and routine hearing tests
– Cosmetic surgery
– Acupuncture
– Prescription drugs

If prescription drugs are one of your main needs, you should consider Medicare Part D, which helps with that aspect specifically. 

Medicare Plan F, also known as Part F covers drugs and injections given in a clinical setting but does not cover other prescriptions

Neither Medicare nor supplement Medigap policies provide dental coverage. Such coverage can be acquired from insurance carriers that specialize in that aspect.

Medigap Plan F Cost

Plan F Medicare Supplement premium varies from one insurance company to another, however, one thing that is uniform across all companies is that Medigap Plan F rates are high, which is a reflection of the comprehensive coverage it provides, since it fills most of the gaps in Original Medicare coverage. While purchasing a policy, it is important to understand that the policy premium is not the only cost you should consider. Deductibles and out-of-pocket expenses that your plan will leave you responsible for paying are also some of the factors you should keep in consideration while making your choice. This is why most people prefer to put up with Medigap Plan F premiums, knowing they have most of their coverage gaps filled and they are secure.

Medicare Supplement Plan F Deductible 2021

There is a less expensive alternative to this comprehensive policy, where the beneficiary must meet a higher deductible. Medigap Plan F high deductible dictates that policyholders must pay out-of-pocket costs for the first $2,370 in 2021 before the policy begins providing any coverage. For a better understanding of how Plan F works compared to other Medigap plans, check the Medigap plan comparison chart below