What is Medicare Supplement Plan F?

Learn what Medicare Supplement Plan F costs, what benefits are covered and when you should enroll.

Medigap Plan F is the most comprehensive Medicare Supplement insurance plan ever offered. It was designed to maximize coverage for beneficiaries, reducing health care costs while making health insurance more accessible for senior citizens. Beneficiaries benefited by paying one monthly premium for a plan that would pay for virtually all expenses not covered by Original Medicare.

Now that Medigap insurance companies are no longer authorized to cover the Part B deductible, there are eligibility restrictions for Medigap Plan F. We’ll discuss those restrictions and more in this convenient guide.

How Medigap Plan F Works

Plan F is only available to Medicare beneficiaries eligible to enroll in Original Medicare before January 1, 2020. Most beneficiaries have already enrolled in Part A and Part B in addition to the supplemental plan of their choice. Therefore, most beneficiaries enrolling in Medicare today are not eligible for Plan F and will not see rates for Plan F when requesting quotes online.

Medicare Plan F Coverage

Medigap Plan F was created to cover the Part B deductible. It was designed to eliminate copayments and coinsurance for beneficiaries, but that perk comes with higher monthly premiums for Medicare benefits. Most medical bills are fully covered up to the Medicare-approved amount for beneficiaries enrolled in this plan.

Medicare Supplement Plan F covers the following:

  • 100% Medicare Part A coinsurance
  • Up to an additional 365 days of hospital care
  • 100% Part B coinsurance and copayments
  • First 3 pints of blood
  • 100% Part A hospice care coinsurance and copayments
  • 100% skilled nursing facility care coinsurance
  • Part A deductible
  • Part B deductible
  • Part B excess charges
  • 80% foreign travel emergency care

What’s not covered:

  • Hearing
  • Vision
  • Dental services
  • Prescription drugs
  • Long Term Care

Beneficiaries often choose Medicare Supplement Plan F because they don’t want to keep up with coinsurance, copays, excess charges, and other out-of-pocket expenses that come with inpatient and outpatient healthcare. Medigap Plan F brings peace of mind that beneficiaries can afford the medical care they need as long as the Medigap monthly premium is within their budget.

Plan F Cost

Medigap Plan Premium Gender/Age State
Plan F $165.00 Male age 65 TX
Plan F $195.00 Female age 70 OH
Plan F $171.00 Female age 65 PA
Rates are subject to Medicare Part B start date and or medical underwriting.

Plan F is the most expensive Medigap policy because it offers the most comprehensive coverage. It eliminates most out-of-pocket expenses for beneficiaries, so you pay for all of your medical expenses through a higher monthly premium.

Your Plan F monthly premium is influenced by a variety of factors, including:

  • Gender
  • Zip code
  • Age at enrollment
  • Tobacco use

Not all insurance companies offer Plan F so you may have limited or no availability in your area. On average, you can expect to pay between $100 and $200 per month for Plan F. Some insurance companies may offer high-deductible Plan F, which offers much lower premiums and a significantly higher annual deductible.

When and Where to Buy Medicare Plan F

You can buy Medicare Plan F after enrolling in Medicare Part B, assuming you are at least 65 years old. Once you enroll in Part B, you have six months to buy a Medigap policy. That six-month period is known as your Medigap Open Enrollment Period. During that period, you have guaranteed issue rights that ensure the insurance company accepts you into the plan of your choice without medical underwriting.

You will get the lowest Plan F monthly premiums when enrolling during your Open Enrollment Period. Outside of that period, the insurance company will ask questions regarding your health and may deny you coverage.

Medigap plans are sold through private insurance companies. You can work with a licensed insurance agent to consider your options and calculate all possible Medigap Plan F costs.

Is There an Alternative to Plan F?

Suppose you don’t qualify to enroll in Medicare Plan F. In that case, the following most comprehensive policy is Medicare Plan G. It offers the same coverage as Plan F but doesn’t cover the Part B deductible. For beneficiaries eligible to enroll in Medicare after January 1, 2020, Plan G is the most comprehensive Medigap plan available.

Plan N is another alternative to Plan F. The monthly premiums are lower because the plan doesn’t cover the Medicare Part B deductible or Medicare Part B excess charges. It also requires a small copayment of up to $20 for doctor’s office visits and up to $50 for emergency room visits.

Ready to learn more?

Choosing between Medigap insurance companies is not an easy decision. However, educating yourself about the differences between the two types of insurance coverage, comparing different plans and policies, and talking to a licensed insurance agent will help you make the right choice.