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Medicare Supplement Plan F

The Most Comprehensive Medicare Supplement Plan

CMS Medsup Comparison Chart

As you can see from the chart above, there are 10 Medicare Supplement plans. Medicare offers Plan F, which is considered the most comprehensive supplement plan available. Medicare Supplement Plan F is also the most popular plan.

Before you decide to buy Medicare Supplement Plan F, let’s look at the important things you need to know about it.

Medicare Part B covers healthcare you might receive from general practitioners, family doctors, specialists, and other physicians. It also takes care of some of the costs associated with medical equipment, home healthcare, and hospital outpatient services.

In some cases, even though a doctor accepts Medicare, he or she will charge more than Original Medicare covers. Medicare Supplement Plan F covers the difference that you would otherwise have to pay out-of-pocket.

This same coverage applies to preventative services. For instance, screenings for specific diseases and checkups to evaluate your overall health will remain covered in full under Plan F, even if your physician charges in excess of what Medicare Part B agrees to pay.

If you want to limit out-of-pocket expenses related to doctors’ visits, consider one of the two Medicare Supplement plans for Medicare that cover excess charges: Plans F and G.

    Medicare Part B (Medical Insurance) helps cover:

  • Services from doctors and other health care providers, hospital outpatient care, durable medical equipment, and home health care
  • Preventive services to help maintain your health and to keep certain illnesses from getting worse

More Coverage Comes With Higher Premiums

While Medicare Supplement Plan F offers more comprehensive coverage, including Part B excess charges and your Part B deductible, it also costs more per month. The insurance company you choose will tell you how much you have to pay for Plan F.

The higher premiums might be worth the extra coverage, especially if you suffer from pre-existing or chronic health problems. For instance, if you have to visit your family doctor once per week for checkups, blood work, or other services, choosing Medicare Supplement Plan F might help offset your total costs.

There’s a High-Deductible Option for Part F

One way to offset the high premium costs for Medicare Supplement Plan F is to choose the high-deductible option. For 2018, the deductible is $2,240, but your insurance company can increase your deductible each calendar year.

Paying a higher deductible will reduce your premiums, but you’ll have to pay out-of-pocket until you’ve satisfied the deductible. Consider your current health status and your household budget to determine what option will work best for you.

Some states have Medicare SELECT plans, which are slightly different from Medicare Supplement plans in that they limit you to using providers within a network. Consider investigating these if you want to lower your deductibles.

L Medigap supplemental plan.
Medciare supplement plan coverage

Supplement Plans F and G Are Very Similar

Many seniors who consider Medicare Supplement Plan F compare it against Medicare Supplement Plan G. They’re nearly identical except that Plan G doesn’t cover the Medicare Part B deductible.

For consumers who want extensive Medicare coverage, Plan G might become a better option for the budget. Premiums decrease considerably with Plan G, but without many differences in coverage.

Plan F Disappears in 2020

Medicare Supplement plans sometimes get discontinued. Plan F will go away in 2020, though seniors who already have the plan will get to keep it.

If you’re nearing age 65, consider buying Plan F so you don’t miss your opportunity. Compare different Medicare Supplement plans based on their average premiums, your specific quotes, and coverage levels. That way, you can make an informed decision.

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