Home » Medicare Supplement » Medicare Supplement Plans » Medicare Supplement Insurance Plan F

Medigap Plan F

Medicare Supplement Plan F

For years, Medicare supplement Plan F has been among the most frequently purchased Medicare supplement plans throughout the country. Medicare beneficiaries have favored it because it’s the most comprehensive plan currently available on the market.

Plan F covers the following:

  • Medicare Part A coinsurance and hospital costs (up to an additional 365 days after Medicare benefits are used)
  • Medicare Part B coinsurance or copayment
  • Blood (first 3 pints)
  • Part A hospice care coinsurance or copayment
  • Skilled nursing facility care coinsurance
  • Part A deductible
  • Part B deductible
  • Part B excess charges
  • Foreign travel emergency (up to plan limits)

As you can see in the chart below, Medicare supplement Plan F covers all the deductible, coinsurance, copay and excess charge gaps in Medicare Parts A & B. So, with a Plan F, if you see a physician who accepts Medicare and your treatment is a Medicare-covered expense, you should not have any out-of-pocket medical expenses for those services.

Medigap Plan F Benefits

Medicare Supplement Plan F Standardization

Before you consider rates for Plan F from different companies, it is important to understand that Medicare supplement plans have been completely standardized since 1991. So, as you consider Plan F pricing from various insurance companies, you can feel comfortable that a standard Plan F from each company will be identical in the following ways:

  1. Same Benefits – Medicare supplement Plan F will have the same comprehensive coverage listed above, regardless of the company you buy it from. So, you don’t have to worry about whether one company’s Plan F is going to have more or less benefits than another company. It doesn’t matter which company you buy your plan from, the Plan F benefits will be identical.
  2. Same Doctor’s Network – The various Medicare supplement insurance companies do not have their own doctor’s networks. Their plans are only supplements to your primary Medicare Parts A & B coverage. Your network is the nationwide Medicare network. A recent Kaiser Family Foundation study shows 93% of primary care physicians still accept Medicare. So, you don’t have to worry about whether one company has a better doctor’s network than another. They will all share the same network – the Medicare network of doctors.
  3. Same Claims-Paying Process – Medicare supplement claims-processing is highly automated now-a-days, making it easy for you to use the coverage. When you receive your medical services from your physician, they will only submit your claim to Medicare and not to your Medicare supplement insurance company. Medicare uses a clearinghouse that knows which Medicare supplement plan and company you use. Once Medicare approves your claim, they will pay the physician their portion and will notify your Medicare supplement company, through the clearinghouse, of the amount due to the physician from your Medicare supplement insurance company. The Medicare supplement company cannot decide they don’t want to, or shouldn’t have to, pay their portion of the claim. They have no choice. They must pay the amount due per Medicare’s instructions. This is automated and completely standardized from company to company. 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, they’re all equal in their claims-paying history.

Knowing about the areas of standardization above makes it extremely easy to consider rates for Medicare supplement Plan F from any company.

So, it really comes down to who is going to offer the best rate from a company you can trust for your Plan F.

That’s one reason so many Medicare recipients turn to a GoMedigap agent. We care about educating our clients through the buying process and ensuring they have options from over 30 providers nationwide. This ensures that you’ll know what you’re buying and have the choices available to find the best value.

Medicare Supplement Plan F Pricing

While Plan F tends to be among the higher priced plans, the pricing for it versus other Medicare supplement plans with lesser coverage tends to not be too significant in many situations, especially between the ages of 65-70. Because of this, many people will prefer to spend a little bit more to get the comprehensive coverage in order to know they won’t have to pay for any medical bills when they see a doctor and receive medical treatment.

As you’re considering various Medicare supplement plans, a question you’ll want to ask yourself a couple of questions:

  1. “Do I want to get the most comprehensive plan at the best rate available from the various companies, even if it’s not the absolute best value?” Or,
  2. “Do I just want to get the plan that offers the best value, even if I might have some acceptable out-of-pocket exposure for medical services?”

These questions will make it easier to decide if you would want to concentrate on a Plan F, or if one of the other plans may be a better option for you.

GoMedigap Can Help

GoMedigap agents are very well-versed at helping you make these decisions. The service from our highly-regarded agents won’t cost you anything, and we’re confident you’ll enjoy the conversation.

If you would like to discuss your Medicare supplement Plan F options, or options from any other plan, please complete the online form to compare Medicare supplement rates, or call us directly at (866) 894-3258 during normal business hours.

Compare Your Medicare Supplement Rates Immediately!

10 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 (866) 894-3258, 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 (866) 894-3258 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 (866) 894-3258. 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 (866) 894-3258. We’re here for you during this decision making process.

      Have a great day!

Leave a Reply

Please note that once you post a comment to this website, it will be visible to the public, so be careful not to include any personal or confidential information in your comment.

Your email address will not be published. Required fields are marked *