Medicare Supplement Plan F

What is Medicare Supplement Plan F?

Medicare Supplements are sometimes known as Medigap plans because they cover expenses and costs (the 'gaps') of Original Medicare. Medicare Supplement plans can help minimize your out-of-pocket costs for healthcare services.

Medicare Supplement plans are denoted by a plan letter (e.g. A, B, C, D, F, G, K, L, M, N).

What are the Benefits of Medicare Supplement Plan F?

The benefits of Medicare Supplement plans include predictability, nationwide networks anywhere that Medicare is accepted, and flexibility to choose your providers.

• Payment for coinsurance, deductibles and copayments

• No referrals needed for specialists

• Automatic claims filing

Medigap plans may cover your coinsurance or copayment costs for Part B medical services and medical supplies such as:​

• Physician Visits

• Outpatient Procedures

• Durable Medical Equipment

• Lab Work

See Plans in your Area

What does Medicare Supplement Plan F cover?

Medicare Supplement Plan F covers:

• Medicare Part A Coinsurance and hospital costs (up to 365 days after Medicare benefits are used up)

• Medicare Part B Coinsurance or Copayment

• Blood (first 3 pints)

• Part A Hospice Care Coinsurance or Copayment

• Skilled Nursing Facility Coinsurance

• Medicare Part A Deductible

• Medicare Part B Deductible

• Medicare Part B Excess Charges

• Foreign Travel Emergencies

How does Medicare Supplement Plan F Compare to Other Supplement Plans?

When considering your options for Medicare Supplement plans, it is important to review and understand all of your options.

Many beneficiaries compare Medicare Supplement Plan F to these alternative plans:

• Medicare Supplement Plan G

• Medicare Supplement Plan N

Medicare Supplement Plan G provides the same comprehensive coverage as Plan F except that Plan G does not cover your Medicare Part B annual deductible ($240 in 2024). 

Medicare Supplement Plan N also provides extensive coverage; however, beneficiaries may have certain copayments fr services such as outpatient doctor visits and emergency room admissions.

How much does Medicare Supplement Plan F Cost?

The average cost for a Medicare Supplement Plan F is approximately $250/month for 2024. The cost for a Medicare Supplement plan is essential when considering your options. The cost of a plan can vary on

• Age (at time of plan enrollment)

• Location

• Tobacco Use

Your monthly plan premium can increase based on certain factors including:

• Inflation

• Healthcare costs

• Market rates

Medicare Supplement Plan coverage is Federally regulated which means that coverage is the same within a given plan regardless of the insurance company you choose. A Medicare Supplement Plan F with one company will provide the same coverage as a Plan F with another company. However, when choosing a company it is important to consider their financial stability and history of premium increases.​

Eligibility

Medicare Supplement Plan F is not available if you turned 65 on or after January 1, 2020. There are limited circumstances where individuals may be eligible to enroll if you were eligible for Medicare before January 1, 2020 but did not yet enroll.

Because Medicare Supplement Plan F has significant restrictions on enrollment eligibility, many beneficiaries are reporting significant and frequent rate increases. Our team of licensed agents can help you review other Medicare Supplement plan options.

Medical Underwriting

For coverage starting January 1, 2022, Medicare Advantage (Part C) plans accept all health conditions, including End-Stage Renal Disease (ESRD).

Medigap (supplement) plans may require medical underwriting; however, you can enroll without medical underwriting if you apply during your initial Open Enrollment Period. The initial Open Enrollment Period includes:

• The three (3) months before your turn age 65

• The month you turn 65

• The three (3) months after your turn 65

Example: If your birthday is 07/15/1957 and you turn 65 on 07/15/2022, you can enroll from April-October 2022.

Important: To avoid coverage gaps, we recommend enrolling in Medicare at least one month prior to the month that you turn age 65. If you wait until the month you turn 65 to enroll, your coverage may be delayed. Additionally, if you do not enroll in Medicare Part B when you are first eligible, you may be subject to a late enrollment penalty.

How do I Enroll in Medicare Supplement Plan F?

To enroll in a Medigap plan:

• Enroll in Medicare Part A and B (New to Medicare? Learn how to complete your initial enrollment here).

• If you are new to Medicare, you must pay Part B monthly premiums (the standard premium in 2024 is $174.70 per month). You will also be responsible for paying a premium associated with your Medigap plan

• Contact us at (833) 379-1951 to enroll in a Medigap plan to meet your needs

To find a Medicare Supplement plan that meets your needs, please contact us for a free consultation with a licensed agent at (833) 379-1951.​