Medicare Plan F

with HealthPlusLife

medicare part f
January 30, 2024 | Johanna Karlsson

Medicare Plan F, often referred to as the ‘Cadillac of Medigap plans’, offers the most comprehensive coverage among all Medicare Supplement plans. It’s designed to provide seniors with extensive coverage, minimizing out-of-pocket healthcare costs. For many beneficiaries of Original Medicare, Plan F has been the go-to choice for its thorough coverage, including copayments, deductibles, and coinsurance that Medicare Parts A and B don’t cover.

Key Features of Medicare Plan F

Plan F stands out for its extensive range of benefits. It covers all deductibles for Medicare Parts A and B, ensuring that beneficiaries do not pay out-of-pocket for hospital stays or doctor visits covered by Medicare. It covers the 20% coinsurance that Part B doesn’t pay, and it covers hospital and outpatient services at 100% after Medicare coverage. It also includes coverage for skilled nursing facility care, Part A hospice care, and excess charges that occur when a doctor charges more than what Medicare approves. Additionally, Plan F offers a foreign travel emergency benefit, providing coverage for medical emergencies that occur outside the U.S.

Who Is Eligible for Medicare Plan F?

Eligibility for Medicare Plan F is exclusive to those who became eligible for Medicare before January 1, 2020. This means if you were eligible for Medicare due to age, disability, or illness before this date, you can enroll in Plan F. However, it’s no longer available to people who became eligible for Medicare on or after January 1, 2020, due to changes in federal law.

Comparing Medicare Plan F with Other Medigap Plans

When comparing Plan F to other Medigap plans, its comprehensive coverage becomes evident. Unlike other plans, Plan F covers both Part A and B deductibles, which can result in significant savings. Other plans might require a copayment or coinsurance for certain services or have a lower cap on out-of-pocket expenses. For instance, Plan G, similar to Plan F, doesn’t cover the Part B deductible. Plan N requires copayments for some doctor visits and doesn’t cover excess charges.

Understanding the Costs Associated with Medicare Plan F

The cost of Plan F varies based on several factors, including the provider, geographic location, and sometimes, the enrollee’s age and health. Plan F usually commands higher premiums compared to other Medigap plans due to its comprehensive coverage. This means while you might pay more in monthly premiums, your out-of-pocket expenses for covered services are significantly reduced, often to zero.

The Pros and Cons of Choosing Medicare Plan F

The primary advantage of Plan F is the peace of mind it offers. With no out-of-pocket costs for covered services, it simplifies budgeting for healthcare expenses. However, the higher premiums can be a drawback, especially for those on a fixed income. Since Plan F is not available to new Medicare enrollees after 2020, current policyholders may face rate increases as the pool of enrollees in Plan F ages.

medicare part f benefits

How to Enroll in Medicare Plan F

Enrollment in Plan F is available during your six-month Medigap Open Enrollment Period, which begins on the first day of the month you’re both 65 or older and enrolled in Medicare Part B. During this period, you have a guaranteed right to buy any Medigap policy without medical underwriting. After this period, you may still apply for Plan F, but you could be subject to health screening, and acceptance is not guaranteed.

Future of Medicare Plan F: What Enrollees Need to Know

With Plan F closed to new enrollees after 2020, there are concerns about its long-term viability and potential cost increases. As the current enrollee pool ages, the premiums could increase. It’s important for current and potential Plan F enrollees to stay informed about legislative changes and consider alternative plans if necessary.

How HealthPlusLife Can Assist with Your Medicare Plan F Choices

At HealthPlusLife, we understand the complexities of Medicare and Medigap plans. Our team can help you understand the nuances of Plan F and compare it with other available options, guiding you through the enrollment process, and ensuring that your Medigap plan aligns with your healthcare needs and budget. Contact us online or call 888-828-5064 to learn more.

FAQs on Medicare Plan F

Is Medicare Plan F the most expensive Medigap plan?

Typically, yes. Due to its comprehensive coverage, Plan F often has higher premiums than other Medigap plans.

If I’m already enrolled in Plan F, can I switch to another plan?

Yes, you can switch Medigap plans, but you may be subject to medical underwriting and increased premiums, depending on your state’s regulations.

Does Plan F cover prescription drugs?

No, Plan F does not cover prescription drugs. You would need to enroll in a separate Medicare Part D plan for prescription coverage.

Can I enroll in Plan F if I start Medicare in 2021 or later?

No, Plan F is not available to those who became eligible for Medicare on or after January 1, 2020.

What happens if I move to a different state while on Plan F?

You can take your Plan F coverage with you, but your premiums may change based on your new location.

How does Plan F compare to Plan G in terms of coverage?

Plan F and Plan G offer similar coverage, but Plan G does not cover the Part B deductible and might have lower premiums.

Understanding Medicare Plan F is crucial for making an informed decision about your Medigap coverage. While it offers extensive coverage, considering your individual health needs and financial situation is key. HealthPlusLife is here to guide you through this process, ensuring you choose the Medigap plan that best suits your needs.

Johanna Karlsson
Johanna Karlsson is a veteran health and life insurance professional licensed in 50 states. She relocated from the countryside in the south of Sweden and has not looked back. After coming to the United States to attend university, she gained her degree in Public Relations. She brought her public relations skills to a local international health insurance where she discovered a new passion in insurance. After years with that company, Johanna now joins HealthPlusLife to help build a team of licensed insurance agents ready to meet your insurance needs.