Medicare Plan F: What You Need to Know

Sherrie Johnson Sherrie became a professional writer in 2014. An expert in all things Medicare, you can find her work across a number of publications. When she’s not writing, you can find her fixing up her farm in Kentucky where she lives with her husband.
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What is Medicare Plan F and Is It Going Away?

Choosing a Medicare Supplement insurance plan is an important part of your health care. It’s essential to choose the right plan so you have enough coverage when you need it. But with so many options, deciding which supplement plan is right for you can be time-consuming and frustrating. This article will simplify things. You’ll learn what Plan F is, what it covers, and whether you are eligible for Medicare.

What is Medicare Plan F?

Medicare Supplement Plan F helps cover out of pocket costs from Original Medicare, also known as Part A and B plans. These costs include coinsurance, copayments, and deductibles. Each Medicare Supplement plan is endorsed by the US government. 

What and how much does Plan F cover?

All plans cover different costs associated with Part A and Part B plans. Medicare Plan F provides the most comprehensive coverage available. Below is a table that breaks down typical coverage of Medicare Supplement Plan F:

Inpatient hospital costs not covered by Medicare Part A for an additional 365 days after Medicare coverage runs out 100%

 

Coinsurance for skilled nursing care 100%
Coinsurance and copayments not covered under Part B 100%

 

Part A deductible 100%
Part B deductible 100%
Overseas emergency health care Up to 80%
Hospice coinsurance and copayments not covered by Part A 100%
First three pints of blood 100%
Medicare Part B excess charges 100%
Prescription Drug Coverage No
Dental No
Hearing No
Vision No

 Medicare Supplement Plan F is favored by many due to its high coverage and nearly nonexistent out of pocket costs.

Medicare Plan F does not cover prescription drugs, dental, hearing, vision, or long-term care. For a plan that includes drug coverage, look into a Medicare Advantage Plan, also known as Medicare Part C.

If you need dental, hearing, or vision insurance, you’ll need to purchase a stand-alone plan from the private healthcare sector.

Is Medicare Plan F Going Away?

The short answer to this question is both yes and no. Here’s what this means:

IF THEN
If you already have Medicare Supplement Plan F Nothing changes. You continue paying the monthly premium and receive your regular coverage.
If you are eligible for Medicare through December 31, 2020 You may apply for Medicare Supplement Plan F, and you will be accepted.
If you are eligible for Medicare starting January 1, 2020 You may not apply for Medicare Supplement Plan F.

 

In short, if you qualify before January 1, 2020, you can enroll in Medicare Plan F during your Medigap Open Enrollment Period.

Your Medigap Open Enrollment period begins the first day of the month you turn 65 and continues for six months. If your birthday is in May, you have May, June, July, August, September, and October to sign up.

MAR APR *MAY* JUN JUL AUG SEPT OCT NOV DEC

 During your Open Enrollment Period, you are guaranteed acceptance into the Medigap plan of your choice, even with pre-existing conditions. If you sign up for a Medigap plan after this period, insurance companies will ask you to report on health questions and may deny your application.

Is there a Medicare Supplement Plan that Compares to Plan F?

Medicare Plan G is the closest to Plan F. It includes all the same benefits, except the Part B deductible. Here’s what Medicare Plan G covers:

Inpatient hospital costs not covered by Medicare Part A for an additional 365 days after Medicare coverage runs out 100%
Coinsurance for skilled nursing care 100%
Coinsurance and copayments not covered under Part B 100%
Part A deductible 100%
Part B deductible No
Overseas emergency health care Up to 80%
Hospice coinsurance and copayments not covered by Part A 100%
First three pints of blood 100%
Medicare Part B excess charges 100%
Prescription Drug Coverage No
Dental No
Hearing No
Vision No

Which Medicare Plan Should You Choose?

If you are not able to qualify for Medicare Plan F in 2020, there are still many other plans you can choose. Here is a breakdown of each plan and the coverage they provide:

Benefit: Plan A B C** D F** G K L M N
Inpatient hospital costs not covered by Medicare Part A for an additional 365 days after Medicare coverage runs out 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Coinsurance for skilled nursing care 0% 0% 100% 100% 100% 100% 50% 75% 100% 100%
Coinsurance and copayments not covered under Part B 100% 100% 100% 100% 100% 100% 50% 75% 100% 100%
Part A deductible 0% 100% 100% 100% 100% 100% 50% 75% 50% 100%
Part B deductible 0% 0% 100% 0% 100% 0% 0% 0% 0% 0%
Overseas emergency health care 0% 0% 80% 80% 80% 80% 0% 0% 80% 80%
Hospice coinsurance and copayments not covered by Part A 100% 100% 100% 100% 100% 100% 50% 75% 100% 100%
First three pints of blood 100% 100% 100% 100% 100% 100% 50% 75% 100% 100%
Medicare Part B excess charges 0% 0% 0% 0% 100% 100% 0% 0% 0% 0%
Prescription Drug Coverage 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Dental 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Hearing 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Vision 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%

**Plans C and F will both be discontinued starting January 1, 2020. If you want to apply for Plan C, follow the same guidelines as outlined in this article for Plan F.

Choosing a Medicare Supplement Wisely

Choosing a Medicare Supplement plan should not be taken lightly. Take time to compare plans and decide how much coverage you need. While Medicare Plan F is a comprehensive plan, it does come with a higher deductible than other Medicare Supplement plans, and it may not be the best fit. If you need help figuring out which plan is best for you, talk to a licensed insurance agent and get a Medicare quote today.

 

 

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