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Medicare Supplement Plan F Overview

In addition to the coverage provided by Medicare, consumers have the option to purchase Medicare Supplement Plan F to provide enhanced coverage. One of the most popular Medicare Supplement plans on the market today.

Medicare Supplement Plan F

As a Supplement to Part A and Part B, Medicare Plan F provides comprehensive health coverage. As such, it is by far the most widely used Medicare Supplements. A 2015 AHIP report shows that 57% of Supplement policies are F plans. With Plan F, you will likely have no costs associated with any health services you use, whether it’s a visit to the doctor or a lengthy hospital stay as long as Original Medicare pays first.

Medicare Supplement Plan F Benefits With Part A

One of the main advantages of Medigap insurance, in general, and Medicare Supplement Plan F, specifically, is the expansion of hospital coverage. If you are hospitalized, Part A will cover the cost of a 60-day hospital stay, after you pay a deductible. With the addition of Plan F, not only will the deductible be covered, you will also have an additional 30 days of hospitalization paid for. Also, for a serious illness that requires a lengthier hospital stay, you will have up to 60 lifetime days covered in full. If those benefits are ever exhausted, you will be eligible for coverage of an additional 365 lifetime days.

Medicare Plan F also includes coverage for a stay in a skilled nursing facility if it is needed after you’ve been hospitalized. You will have the ability to remain in a skilled nursing facility for up to 100 days, the first 20 being covered by Part A and the remainder covered by your Medicare Supplement insurance.

Medicare Supplement Plan F Benefits with Part B

Part B, which covers costs from doctors and other health care providers is also enhanced with the addition of Plan F. With just Part B; you would be responsible for paying 20% the cost of any medical care you receive outside of a hospital. Medigap insurance, including Medicare Plan F, will cover the 20% co-insurance. There is an annual Part B deductible that would also be paid by Plan F, so you would see no bills coming to you as a result of any medical services.

Plan F also covers what are called “excess charges.” Doctors who see patients can agree to accept Medicare assignment, meaning that they agree to accept whatever Medicare will pay them for their services. If a doctor opts not to accept Medicare assignment, however, he or she can charge you up to 15% more than what Medicare will reimburse them for. These extra costs or “excess charges” are completely covered by Plan F.

Medicare Supplement Plan F Provides Freedom of Choice

One of the most appealing features of Plan F is the flexibility that it allows. Unlike MA’s, which are another way to get coverage, there is no network of doctors and hospitals to worry about and no need for referrals to see a specialist. You can see any doctor, anywhere in the country, that accepts Medicare. If you are happy with your current health care provider, as long as he or she accepts Medicare, you can stay right where you are.

Is Medicare Supplement Plan F Right For You?

So how do you know if the F plan is a good choice for you? If you want to think about Medicare Supplement insurance as little as possible, then Medicare Part F is likely to be a good option. It is also a good choice for someone with a chronic health condition that requires frequent doctor visits or tests. Rather than have to worry about copays adding up or even skipping necessary tests because of the extra costs, F picks up the cost of every visit and every test, so you don’t ever have to put your health at risk.

Let’s look at Betty and Sam, two recent enrollees in Medicare Supplement Plan F. They are snowbirds, living in Massachusetts in the summer and Florida in the winter, and they love to travel outside the US whenever they can. They are thrilled with their Plan F because, whether they are in Boston or Boca, they can go to any doctor, anywhere, and don’t have to worry if something goes wrong.

Enrolling in Medicare Supplement Plan F

When you turn 65, there are a lot of decisions to be made and purchasing Medicare Supplement insurance is one of them. Remember that you need to have Part A and Part B in order to purchase a Medicare Plan F. Once you have enrolled in Part B, you have a six-month open enrollment period in which to decide on the best Medicare Supplement.

Medicare Supplement Plan F Costs

We’ve discussed the fact that the Medicare Supplemental plans are standardized, meaning that every Plan F, regardless of the company selling it, is the same. Plan F rates, however, will vary from company to company, sometimes quite dramatically. Let’s say that 65-year old Sally is trying to decide where to live when she retires. She’s a non-smoker and is looking into Medigap policy costs from top-rated, national insurance companies in three different parts of the country.

                           Texas         Pennsylvania                  Florida

Company A      $142                   $141                         $297

Company B      $158                   $177                         $277

Company C      $126                   $138                        $356

Rates are not endorsed or sponsored by any insurance company; we provide information based on our professional opinion.

Many Medicare Plan F Providers to Choose From

Wherever you live, there are many companies selling Medicare Supplement Plan F policies. But when you are new to Medicare, it’s hard to know which company has the best Medicare Plan F for you. Having worked in this field for as long as we have, our agents can help you find the company that will be the best fit. Based on our experience, some companies that stand out as providing high-quality service to customers are:

These are not just some of the largest insurance companies in the world; they are some of the largest companies of any type in the world. Which means that they have the resources, technology, online presence, and staff to satisfy even the most demanding customer. Our agents can give you more information on these companies and their Medicare Supplement Plan F rates and offerings.

Looking to the Future with Medicare Plan F

One important benefit of Medicare Supplement plans is that they automatically renew each year, giving you one less thing to worry about. So, if you feel like you’ve found the company with the best Medicare Supplement Plan F rates and service, you’ll never have to think about it again. One caveat to that, however, is that the premiums may go up. The companies can’t charge you more if you get sick but they can raise the rates for everyone who owns a particular policy, so it is important to pay attention to any communication you receive from the insurance company.

You can get information on supplement policies and use our online quote tool to find out what a Medicare Supplement Plan F would cost in your state. Just put in your zip code and birthdate, and you will be able to request quotes from top insurance providers. If you have questions, we have licensed insurance agents who can help you make the choice that is right for you.