Medicare Plan F is an example of a Medicare supplement insurance plan, also known as Medigap. This is extra insurance a person can buy from a private company to help cover out-of-pocket costs in Original Medicare.
However, Plan F is no longer available for people who turned 65 years old on or after January 1, 2020, and for some people under age 65 years.
People who were eligible for Medicare before January 1, 2020, but did not enroll may still be able to buy Plan F.
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People who have Original Medicare, otherwise known as Medicare Part A and Part B, may choose to buy a Medigap plan from a private insurance company as additional insurance.
Most states offer 10 different types of Medigap plans. Companies refer to these plans by letters: plans A to D, F, G, and K to N.
Despite costing more than the other Medigap plans, Plan F is popular because its comprehensive coverage leaves people with few out-of-pocket expenses.
However, as of January 1, 2020, Plan F is not available to new Medicare enrollees.
Individuals who already have this plan can keep it, and those who became eligible before this date but did not enroll may still be able to buy Plan F.
Glossary of Medicare terms
We may use a few terms in this article that can be helpful to understand when selecting the best insurance plan:
- Out-of-pocket costs: An out-of-pocket cost is the amount a person must pay for medical care when Medicare does not pay the total cost or offer coverage. These costs can include deductibles, coinsurance, copayments, and premiums.
- Deductible: This is an annual amount a person must spend out of pocket within a certain period before an insurer starts to fund their treatments.
- Coinsurance: This is the percentage of treatment costs that a person must self-fund. For Medicare Part B, this is 20%.
- Copayment: This is a fixed dollar amount a person with insurance pays when receiving certain treatments. For Medicare, this usually applies to prescription drugs.
The extensive coverage of Plan F includes the following:
- 100% of the deductibles for parts A and B
- 100% of the Part A coinsurance
- hospital expenses up to an extra 365 days after a person uses all available Medicare benefits
- 100% of the copayment or coinsurance for Part A hospice care
- 100% of the copayment or coinsurance for Part B
- the first 3 pints of blood.
- 100% of the coinsurance for skilled nursing facility care
- 80% of foreign travel emergency healthcare costs up to the plan limits
In addition, Plan F covers 100% of Part B excess charges. These expenses refer to amounts doctors may charge that are higher than Medicare-approved costs.
Some states offer a high deductible version of Plan F. This means a person must first pay all Medicare costs up to $2,800, which is the deductible in 2024.
Similar to other Medigap plans, Plan F does not cover prescription drugs or extra benefits, such as dental and vision.
Other Medigap plans are available as alternatives to Plan F. These include plans A, B, D, G, K, L, M, and N.
All of these plans provide the same primary benefits, and they may include some extra ones. The plans that offer more coverage usually have higher premiums.
Medigap plans can vary significantly in cost, and the premium price with one insurance company may differ from another, even though the plans have the same benefits.
Once an individual decides on a Medigap plan, they can consider comparing prices before buying.
Some states also offer Medicare Select plans. These plans can include any of the above Medigap plans but require a person to use in-network doctors or hospitals. The premiums are generally less expensive than those of other Medigap plans.
Find out more about the different Medigap plans on the Medicare website.
What is the closest alternative to Plan F?
Plan G has become a popular alternative because it is very similar to Plan F.
The only difference is that it does not pay the Medicare Part B deductible. If comprehensive coverage is important to a person, Plan G may be the best alternative to Plan F.
Plan G offers a high deductible version of the policy, where an individual pays a deductible of $2,800 before the Medigap benefits take effect.
Learn moreLearn more about Medigap plans F and G.
Other available Medigap options
When comparing plans, a person may find it helpful to check the copayments, coinsurance, and deductibles. Some individuals may prefer a policy with less coverage than Plan G.
These options could include:
- Plan D: provides all of the coverage of Plan G, except for Medicare Part B excess charges
- Plan N: similar to Plan D but does not cover the Medicare Part B deductible
Medigap also offers choices for a person who may require less coverage. These include:
- Plan L: pays 75% of certain costs
- Plan K: pays 50% of certain costs
To compare Medigap plans at a glance, this tool shows what plans are available in a particular area.
As Medicare parts A and B do not pay for all healthcare costs, some people buy a Medigap supplement insurance plan.
Medicare Plan F provides the most coverage but is no longer available to new enrollees. Plan G is the option that most closely resembles Plan F.
Before buying a Medigap plan, a person may wish to carefully examine the differences in their coverage, as insurance companies may offer the same plans but with different pricing.
Once a person decides on a policy, they can then compare the costs between insurance providers.