Understanding Medicare Supplement Plan F
Medicare Supplement Insurance plans, also called Medigap, work alongside Medicare Parts A and B (Original Medicare). Medicare Supplement Plans F (also known as Medigap Plan F) has the highest level of coverage among the standardized Medicare Supplement insurance plans available in most states. (Massachusetts, Minnesota, and Wisconsin have their own standardized Medigap plans).
What does Medicare Supplement Plan F cover?
If you have Medicare Supplement Plan F, you can expect to have zero out-of-pocket expenses when utilizing Medicare Parts A and B. You will have to pay your Medicare Part B premium payments each month and you may owe a premium for Part A if you haven’t worked enough quarters to qualify for premium-free Medicare Part A.
Hospital Expenses: 100% Part A Hospital Coverage – all coinsurance and deductible expenses.
100% Part A Hospital Coverage – all coinsurance and deductible expenses.
Medical Expenses: Pays 100% of Original Medicare Part B coinsurance (20% of Medicare-approved expenses).
Pays 100% of Original Medicare Part B coinsurance (20% of Medicare-approved expenses).
Transfusions: Pays for the first three pints of blood you receive in a medical procedure.
Pays for the first three pints of blood you receive in a medical procedure.
Hospice Care: Pays Original Medicare Part A coinsurance or copayment.
Pays Original Medicare Part A coinsurance or copayment.
Skilled Nursing: Pays facility care coinsurance.
Pays facility care coinsurance.
Part B Deductible: Pays 100% of the Original Medicare Part B deductible for hospital outpatient services and other services and items ($226 in 2023).
Part B Deductible
Pays 100% of the Original Medicare Part B deductible for hospital outpatient services and other services and items ($226 in 2023).
Foreign Travel Medical Emergencies: Pays travel-abroad medical emergency expenses (80% of approved costs up to plan limits).
Foreign Travel Medical Emergencies
Pays travel-abroad medical emergency expenses (80% of approved costs up to plan limits).
Excess Charges: Pays Original Medicare Part B excess charges. (Doctors are allowed to charge up to 15% more than what Medicare pays – and they can pass that along to the patient. With Plan F, you don’t have to worry about that!)
Pays Original Medicare Part B excess charges. (Doctors are allowed to charge up to 15% more than what Medicare pays – and they can pass that along to the patient. With Plan F, you don’t have to worry about that!)
Preventive Care: Pays Original Medicare preventive care.
Pays Original Medicare preventive care.
Prescription Drugs: Medigap Plan F does not cover prescription drugs. However, you can buy an additional Medicare Prescription Drug plan to cover prescription drug costs.
Medigap Plan F does not cover prescription drugs. However, you can buy an additional Medicare Prescription Drug plan to cover prescription drug costs.
Medicare Changes: Medicare Plan F Going Away
Effective January 1, 2020, Medicare Supplement Plan F as well as its high deductible alternative are no longer available to purchase due to new federal laws. Anyone enrolled in a Medigap Plan F as of December 31, 2019, will be grandfathered and will be able to continue to use the plan as long as the premiums are paid.
Enrollment Options for Medicare Supplement Plan F
Medicare Supplement Plan F is not available to Medicare beneficiaries who became eligible after December 31, 2010. However, those who became eligible for Medicare before January 1, 2020 are able to keep Plan F coverage or enroll in a new Plan F.
New to Medicare?
If you are new to Medicare, you won’t be able to enroll in Plan F. However, there are other supplement plans with similar covered, such as Medicare Supplement Plan G.
Enrolled in Medicare before January 2020.
If you were enrolled in Medicare before January 2020, you may still have the opportunity to purchase Plan F.
I already have Medigap Plan F.
If you currently have Plan F, you have the opportunity to keep your plan or compare your options and change plans.
Alternative Medicare Supplement Plans to Medigap Plan F
Although Medigap Plan F is no longer available, there are other supplement plans with similar coverage.
Medicare Supplement Plan G
Medicare Supplement Plan G offers the same basic benefits as Medicare Supplement Plan F, the only difference is that it does not cover the Medicare Part B deductible. Plan G also has a high-deductible plan option. With a high-deductible plan, you must pay for Medicare-covered expenses—copayments, coinsurance, and deductibles—up to the deductible amount of $2,490 in 2022 before your plan pays for anything.
Ready to get started? Let us shop Medicare Supplement plans for you.
Save yourself the time and hassle of comparing Medicare plans on your own by working with SelectQuote. In just minutes we’ll compare all of the options available for you.
How much does Medicare Supplement Plan F cost?
The cost of Medicare Supplement Plan F varies by the company your location, age, health status, and various other factors. For those who don’t mind paying out-of-pocket costs up front also have the high deductible Plan F option.
How Pricing Works For This Plan
Pricing for Medicare Supplement Plan F varies by insurance carrier. Medigap policies can be priced in three ways: community-rated, issue-age-rated, and attained-age-rated.
- Community-rated: Generally for community-rated policies, the same monthly premium is charged to everyone who has the Medigap plan, regardless of age. Premiums may go up because of inflation and other factors, but not because of your age.
- Issue-age-rated: For issue-age-rated policies, your premium is based on the age you were when you bought the Medigap plan. Premiums are lowered for people who buy at a younger age and won’t change as you get older. Premiums may go up because of inflation and other factors, but never because of your age.
- Attained-age-rated: The premiums for attained-age-rated policies are based on your current age, with your premiums increasing as you get older. Premiums are lower when you are younger, but will continually increase as you age. Premiums may also increase because of inflation or other factors.2
FAQs About Medicare Supplement Plan F
Have questions about Medicare Supplement Plan F? Here are answers to common questions:
What are the benefits of having Medicare Supplement Plan F?
Medicare Supplement Plan F pays for all the gaps in Original Medicare. Not only does it cover your Medicare Part A and Part B deductible and your coinsurance, but it also covers Medicare Part B excess charges, meaning you’ll have no out-of-pocket costs when you visit the doctor.
How can I lower the costs of my Medigap Plan F?
Since the cost of Medigap plans vary by company, it’s important to shop around. By working with SelectQuote, we can compare all of your Medicare coverage options to find the right plan at a price that fits your budget.
Do Medigap plans vary by state?
Medigap plans are standardized, meaning they offer the same benefits, across most of the states, except for Wisconsin Medicare Supplement Plans, Minnesota Medicare Supplement Plans, and Massachusetts Supplement Plans.
Do Medicare Supplement plans cover pre-existing conditions?
While insurance companies can’t make you wait for your coverage to start, they may make you wait for coverage for a pre-existing condition. Coverage for pre-existing conditions can be excluded if the condition was treated or diagnosed within 6 months before the coverage starts under the Medicare Supplement plan. After the 6-month period, the Medicare Supplement plan will cover the condition that was excluded.
However, it is possible to avoid or shorten the waiting period for a pre-existing condition if you buy a Medicare Supplement plan during your Medigap open enrollment period to replace “creditable coverage” Medigap plan.3
Compare Medicare Supplement Plans
Whether you are unable to enroll in Plan F or not sure if it’s the right plan for you, there are a variety of other Medicare Supplement plans available. Learn more about other standardized Medicare Supplement plans below.
Find the Right Medicare Supplement Plan For You With SelectQuote
It’s easy to be overwhelmed by all of the Medicare options available. At SelectQuote, we make finding the right Medicare coverage easy. We’ll walk you through the process, helping you find a plan that meets both your healthcare needs and budget.