Plan F
What is Plan F?
Coverage Details
MEDIGAP PLAN F
MEDIGAP PLAN F COVERS:
- Part A coinsurance and up to an additional 365 days of hospital costs after Medicare benefits are exhausted
- Part B coinsurance/copayment
- Blood (3 pints)
- Part A hospice coinsurance/copayment
- Skilled nursing facility care coinsurance
- Part A deductible
- Part B deductible
- Part B excess charge
- 80% of foreign travel exchange
- No out-of-pocket limit
Medigap Plan F Premiums
The premium for Plan F will differ between carriers and in which state the plan member resides. There are other individual factors that go into setting the premium like age, gender, tobacco use and more, but the average cost for Plan F is between $130-$230 each month.
Plan F has one of the higher premiums because of the comprehensive coverage it provides. Selecting a different Medigap plan will reduce your premium, but there will not be as much coverage.
How can my Plan F premium be reduced?
If you would like to enroll in Plan F, but the premiums are more than you’d like to spend, the high-deductible Plan F may be a great option. This plan offers the same coverage, but does have a higher deductible that plan members must meet before the coverage begins. The premium is less than those seen in the original Plan F.
Will Plan F premiums increase in 2023?
Medigap plans often increase each year, but the increase will depend on which pricing method your insurance carrier uses. Generally speaking, the premium usually increases with age. In the last five years, Plan F rate increases have averaged between 3% and 6%.
When first enrolling in a Medigap plan, it’s important to look at the history of rate increases with each carrier. One insurance company might be offering a lower rate now, but if they have a history of increasing their rates at rapid speed, they may quickly become more expensive than other carriers. Our agents will look at the history of rate increase with any of the insurance companies we recommend. It’s just another part of our service that we offer completely free of charge.
What has Medigap Plan F been discontinued?
Beneficiaries who were already enrolled in these plans can continue their coverage, but will likely see a dramatic rate increase over the next few years.
Medigap Plan F Eligibility
To be eligible for Plan F, individuals must already be enrolled in Medicare Parts A and B which then allows them to be enrolled in any Medicare supplement plan. Those who would like to enroll in Plan F must have been eligible for Medicare prior to January 1, 2020.
Plan F and Prescription Drug Coverage
Medigap Plan F does cover prescription drugs administered while under inpatient care. However, it does not cover medications that have been prescribed by a doctor and are administered at home. Medigap plan members will need to enroll in a stand-alone Part D plan to get prescription drug coverage.
Differences Between Plan F and Plan G
Enrolling in Medigap Plan F
How to Compare
MEDIGAP PLAN F RATES
There is a lot of information about each plan online, but to get an accurate quote, you’ll need to enlist the help of a licensed Medicare agent. Instead of calling each insurance carrier to get a quote, we can compare premiums across many different carriers, ensuring that you enroll with one that gives you the best rate.
We’ll need to collect some information from you in order to provide quotes since your premium is based on your information and health history, but our services come at no additional cost to you! If you choose to enroll in a Medigap plan through our agency, we also offer unlimited support. If you have problems with your coverage or have questions about how your plan works, we will be here to help.
