Medigap Plan F

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While Medicare plans A and B are relatively easy to understand, the number of Medigap policies can be confusing. If you are eligible for Medicare, you are also eligible to add a Medigap policy to cover all or nearly all of the expenses not covered by Medicare. Plan F is one of your options and comes in two versions, one of which may meet your needs. However, this option will be going away soon, so you need to act quickly.

Plan F Benefits

Medigap plans must follow state and federal regulations, so the benefits should be the same no matter which insurance company you choose. Plan F pays for the following:

  • Part A coinsurance and hospital costs for up to 365 additional days after your regular Medicare benefits are exhausted.

  • Part B Coinsurance or copayment

  • First 3 pints of blood

  • Part A hospice care coinsurance or copayment

  • Skilled nursing facility care coinsurance

  • Part A deductible

  • Part B deductible

  • Part B excess charge

  • 80% of foreign travel exchange (Applies when you receive medical treatment in a foreign country)

Plan F offers a high degree of coverage for expenses not paid by Medicare A and B. You can take advantage of a high-deductible Plan F if you want to lower your monthly premiums. In this version, you are responsible for paying a $2300 deductible before your Medigap insurance kicks in.

2020 Changes

After January 1, 2020, those new to Medicare will not be able to purchase Plan F or C since Medigap plans will no longer be permitted to cover the Part B deductible. However, anyone already having one of the two Plan F versions will be able to retain it. Also, anyone acquiring Plan F coverage before January 1, 2020, will be allowed to keep it. You may also be able to get Plan F if you were eligible for Medicare before January 1 but had not purchased coverage as of yet.

You will still have several Medigap options after the first of the year, but if you want to take advantage of Plan F benefits, you need to act now if you are not already enrolled. If you have Plan F, you don't need to worry. You will be allowed to keep your current excellent coverage.