Medicare Plan F (Medicare Supplement Plan F) | GoMedigap

Medicare Supplement Insurance Plan F

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Medigap Plan F

Many seniors that select Medicare Supplement Plan F do so because it offers the most comprehensive coverage. However, if you are not eligible for Medicare until 2020 or later, you will not have Plan F available to you. For these seniors, Medicare Supplement Plan G will offer the most coverage. Seniors that are eligible for Plan F may want to consider Plan G as well, as it is often more cost-effective.

What Does Medicare Supplement Plan F Cover?

Medigap Plan F Benefits

As you can see in the chart above, Medicare Supplement Plan F covers all the gaps in Medicare Parts A & B. This includes deductibles, coinsurance, copays, and excess charges. With a Plan F, you should not have any out-of-pocket expenses for Medicare-covered services.

Medicare Supplement Plan F Standardization

Medicare Supplement plans have been completely standardized since 1991. As you consider pricing from various insurance companies, you can feel comfortable that Plan F from each provider is identical in the following ways:

  1. Benefits – Medicare supplement Plan F will have the same coverage regardless of which company you choose. Some companies may offer additional perks for choosing them, but perks can be rescinded or changed at any time. We do not recommend that you select a company based off of a perk they provide for that reason.
  2. Doctor Network – You don’t have to worry about whether one company has a better doctor network than another. The various Medicare Supplement insurance companies do not have their own doctor networks, because their plans are only supplements to your primary Medicare Parts A & B coverage. Your network is the nationwide Medicare network.
  3. Claims-Paying Process – Medicare Supplement claims-processing is highly automated nowadays, so it is easy for you to use the coverage. When you receive your medical services from your physician, they will submit your claim to Medicare for you. Once Medicare approves your claim, they will pay the physician their portion. After, Medicare will notify your Medicare Supplement company of the amount that they need to pay. They must pay the amount due per Medicare’s instructions, so you don’t have to worry about whether one company is better at paying for claims than another. Due to the automation and standardization in this area, all companies are equal in their claims-paying history.

Choosing a Medigap Plan F Provider

Standardization provides peace-of-mind, so many seniors choose the Medicare Supplement provider that offers the lowest rate. In fact, that’s one reason so many Medicare recipients turn to GoMedigap. We represent over 30 trusted providers, to ensure that you are able to find the right carrier for you.

When Can I Get Medicare Plan F?

As long as the Part A start date on your Medicare card is before January 1st, 2020, you will be eligible for Medicare Supplement Plan F.  You can switch Medigap plans or carriers at any time of the year. Depending on the state that you live in,  you may need to answer medical questions. In these cases, carriers can choose to accept or decline your application based on your health. It is crucial to have an expert at your side during this process.

GoMedigap Can Help

At GoMedigap, our agents put you first. We will evaluate your needs to help you select the plan that is best for you, and sign you up with the carrier of your choosing in one easy phone call. Our services are free, and our Rate Watch team will check in with you every year to ensure that you are satisfied. To speak with an expert, call us today at 866-894-3258.

Compare Your Medicare Supplement Rates Immediately!

16 Replies to “Medicare Supplement Insurance Plan F”

    1. Hi Mr. Murray,

      Excellent question. This is one we get asked fairly frequently.

      We do track company rate increases over the years and there really isn’t any one company that consistently offers the lowest rates and lowest rate increases across the country. The rate increases vary each year from company to company and from state to state. We have noticed that AARP and Blue Cross Blue Shield tend to have stable rate increases in the 5% range year-to-year (which is slightly lower than the average rate increase) in most states. However, they also tend to be among the more expensive plans to begin with in most states.

      Trying to guess future rate increases for various Medicare supplement companies is a bit like betting on stock performance. Past performance does not predict future rate increases. We have seen some companies take small rate increases several years in a row only to take an unusually large rate increase after a few years. Conversely, although more rarely, we have seen companies that have taken moderate increases several years in a row take a large rate decrease.

      There are so many risk pool cost mechanisms involved (underwriting requirements, analytics, reinsurer pricing, overhead management costs, medical claims forecasting, system automation, etc.) that even experienced actuaries have a hard time predicting the need for a rate increase.

      Contrary to what many people might believe, the insurance companies don’t tend to play games with pricing. As an example, we often hear from people that they’re concerned that insurance companies might offer introductory or teaser rates and then significantly raise premiums a year or two later. The insurance companies cannot single individuals out for rate increases and, when they do have a rate increase, it has to be applied to everyone on that policy in that state. Because of this, you can hopefully understand that the last thing an insurance company wants to do is take rate increases. They can price themselves out of position and not be able to pick up many new clients as their rates rise.

      What we feel is right for our parents, and therefore our clients, is to find the absolute best rate for the coverage you prefer, and from a company you feel comfortable with, and then review it each year. We find that about every 3-4 years, due to rate increases on existing policies and new offerings in the market, it makes sense to switch to get a meaningfully better rate.

      At GoMedigap, we are known for our Rate Watch program, which proactively monitors your rates on a consistent basis, and notifies you any time you face a rate increase. Then, our expert agents use our proprietary quoting system to review plans and rate to determine if it might be time to consider going with a new policy. If you’d like, give us a call at (800) 310-2550, and one of our agents will be sure to give unbiased advice and recommendations.

      Have a great day!

    1. Good morning, Nancy. We can certainly help you consider plans and rates from different companies. As you research our company, you’ll find that our clients love the way our agents walk them through the shopping process for Medicare supplement and part D coverage. It looks like Jacob from our office has reached out to you and likely left you a couple of voicemails. If you feel comfortable doing so, I would encourage you to call him back. I’m confident you’ll enjoy the conversation and his approach to helping you find the best plan and rates for your situation and preferences. You can read more about Jacob, including his specific reviews, at https://www.gomedigap.com/jacob-hinojosa/. We look forward to serving you.

    1. Hi Ms. Sullins,

      You are correct. For people who join Medicare Part A on or after January 1, 2020, you will unfortunately not have the ability to purchase a Plan F (or Plan C).

      For those who join Medicare Part A prior to January 1, 2020, Medicare supplements Plan F and Plan C will still be available. These beneficiaries will be able to continue to shop for and pick up or change companies for your Medicare supplement Plan F or Plan C after this date as long as you qualify medically, or are in an Open Enrollment or Guaranteed Issue situation.

      Why? Well, in an attempt to control costs by reducing claims, Congress decided it made sense to have Medicare recipients be responsible for more of their out-of-pocket medical expenses.

      If you’d like to learn more, this blog covers the reasons and explanations for Plan F going away: Is Plan F Going Away?

      The most comprehensive plan available to Medicare beneficiaries is now Medicare supplement Plan G. Plan G works identically to Plan F, with the only difference being that Plan G does not cover the Part B deductible (in 2018, this is $183). Outside of this one difference, they work the same.

      So, if you own a Medicare supplement Plan F or Plan C when January 1, 2020 comes around, you don’t have to do anything as your coverage will still work; however, if you decide you do want to shop the market at that time to determine if you might be able to find a better rate for your coverage, you can view your rates for other plans online, or call us directly at (800) 310-2550 to speak with a friendly a knowledgeable GoMedigap agent.

  1. Many of the plans I looked at said the premium would remain the same until age 70 when they will increase. What kind of an increase are made for people this year? I will be looking at a Plan F or perhaps Plan G. If I understand you correctly, Plan G’s premium is less and the policy is identical except for $183 deductible in Part B.

    1. Hi Vickie,

      There are many different reasons a Medigap price will increase. Unfortunately, there’s no perfect way to tell when the price increase will happen or how much it will be. There are three different premium pricing methods (issue-age, community-rated, and attained-age) that also affect these price increases.

      However, you are correct, a Plan G’s premium is typically cheaper than a Plan F, and they are identical except for the Part B deductible, which Plan F covers.

      Please let us know if you have any additional questions during this shopping process. Our friendly agents would love to talk to you. We can be reached at (800) 310-2550. Have a great day!

    1. Hi Ms. Hayes,

      There are many different companies who offer a high deductible Plan F. To find out which ones are available to you, feel free to reach out to one of our agents at (800) 310-2550. We’re here for you during this decision making process.

      Have a great day!

  2. Does Bankers Fidelity Medicare Supplement Plan F include Silver Sneakers?
    What other insurance companies offering Plan F include Silver Sneakers?
    Thank you.

    1. Hi Ms. Ross,

      SilverSneakers eligibility depends on the state you are located in. You can use this tool on the SilverSneakers website to discover which insurance plans in your state covers SilverSneakers. https://tools.silversneakers.com/Eligibility/HealthPlans

      Let us know if you need any help during your Medigap selection process, and we’ll be happy to help you! We can be reached at (800) 310-2550. Have a great day!

  3. Is the Plan F High Deductible being eliminated and will not be able to be purchase after 1/1/20 as the Plan F & C are. I have heard yes it is and also no it is still available to purchase after Jan 1 2020.
    I am getting too many different answers on this Plan F High Deductible plan.

    Thanks
    Carole

    1. Hi Carole,
      If you were eligible for Medicare before 2020, you will still be able to pick up Plan F or Plan C from any carrier that offers it. That includes Plan F High Deductible.

  4. I am a retiree currently on medicare A and B and TFL, my wife however is only 62…and still under tricare Prime..We both have significant prescription drugs, does it make sense to get an additional plan?…
    If we sign up with Plan F, do we still pay for B?

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