Medicare Supplement Insurance Plan F provides the most comprehensive benefits of all the 10 standardized Medigap plans sold by insurance carriers, however, like Plan C, this policy is also not available for new enrollees on/after January 1, 2020; this is covered more further down the page.
Because this insurance policy covers most of the gaps in Original Medicare (Parts A & B), many consumers are willing to put up the additional cost for Medigap Plan F rates. As with all Medigap coverage, you can secure the policy straight from health insurance carriers that offer Medigap. The key difference between policies sold by different carriers is the cost of their premium. Although some companies may offer extra benefits with their Medigap policies, the base benefits must be uniform across all companies.
*For general info on Medigap policies, coverage, deductibles, and coinsurance click here.
Medigap Plan F Eligibility
Before covering Medigap Plan F benefits, here are the general eligibility requirements for Part F:
You are at least 65 years of age and have been a US Citizen or permanent legal resident for at least five consecutive years
You are currently receiving retirement benefits
You are disabled and therefore receiving disability benefits
You have End-Stage Renal Disease
You have Lou Gehrig’s disease or ALS
Medicare Supplement Plan F Coverage
Coinsurance and hospital costs 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 pints of blood
Part A hospice care coinsurance & copay with room & board
Coinsurance for skilled nursing facilities
Limited foreign travel emergency care
Medicare Supplement Plan F will not cover the following medical costs:
Routine vision care
Routine dental care
Hearing aids and routine hearing tests
Many consumers may find that prescription drugs are a Medigap Plan F coverage detail lacked. If that is the case in your situation and you find prescription drug coverage essential, you should definitely consider Medicare Part D.
However, Medicare Plan F does cover injections and drugs given in a clinical setting but does not cover other prescriptions.
*Neither of the Medicare or Medigap policies provide coverage for dental care. For dental coverage, you would need to contact an insurance carrier for a standalone dental care policy.
Medigap Plan F Cost
Every year the government establishes the costs associated with Medicare. This includes your premiums, deductibles, and out-of-pocket costs. Because Medicare Supplement Plan F is the most comprehensive policy in terms of overall gap coverage, Medigap Plan F premiums are also a reflection of that. The exact cost, however, as with all Medigap plans, will vary from one insurance carrier to another and may depend on any other added benefits (above the base benefits) associated with the policy.
Medicare Supplement Plan F Deductible 2020
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 beneficiaries must pay out-of-pocket costs for the first $2,340 in 2020 before the policy begins providing any coverage.
Is Medicare Supplement Plan F Going Away? It all depends on your enrollment status. As of January 2020, new enrollees will not be allowed to buy this comprehensive policy. However, if before 2020 you were eligible for Original Medicare, then you would still be permitted to purchase and retain your Plan F Medicare Supplement policy. If not, you might want to consider Plan G as your next option.
Medigap Plan F vs G
Taking a look at a Medigap Plan F and G comparison, we’d find that they are closely similar with an exception. Although Medicare Plan G is not better than Plan F, it does provide for the same gap coverage across the board, with the exception of the Medicare Part B deductible. Medigap Plan F vs Plan N Medigap Insurance Plan F offers the same benefits as Plan N with the exception of the deductible for Medicare Part B and excess charges associated with Part B. Plan N pays for 100% of the coinsurance for Part B, however you would be responsible for copays on both office visits and emergency room visits for $20 and $50 accordingly using Plan N.