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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.

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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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