Plan F is a type of Medicare Supplement Insurance (also called Medigap) plan. Among all the Medicare Supplement plans available to citizens today, Medicare Supplement Plan F is the most popular, and for good reasons. It offers the most coverage and the lowest out-of-pocket expenses for Medicare-covered services. If you’ve enrolled in Original Medicare Part A and B, you might have considered buying the Medicare Supplement Plan F.
So, let’s discuss Plan F in detail and find out whether you can apply for the same or not.

What does the plan cover?

Original Medicare is divided into Part A (hospitalization) and Part B (regular medical insurance). Typically, it pays only up to 80% of your medical bills, and if you don’t want to pay the remaining amount from your pocket, Plan F covers that for you. Meaning, it takes care of all the “gap” in coverage associated with Medicare Part A and B. According to medicare.gov, Medicare Supplement Plan F fully covers for the following:

• Medicare Part A deductible
• Medicare Part B deductible
• Part A coinsurance and hospital costs
• Part A hospice care coinsurance or copayment
• Part B coinsurance or copayment
• Part B excess charge
• Blood (first three pints each year)
• Skilled nursing facility care coinsurance

The plan also offers up to 80 percent coverage for any medical care you receive while traveling outside the United States. However, it depends on your plan’s limit, so make sure you read through your plan details carefully.

How much does it cost?

Because Medicare Supplement Plan F in a comprehensive plan, it tends to be more expensive than other supplement plans. However, there’s no fixed price at which you can purchase Plan F. The cost varies depending on factors such as your zip code, the provider you’re applying with, your gender, and even whether or not you smoke cigarettes. Most insurance companies charge men more than women for Medicare Plan F. And men and women who consume tobacco products usually have to pay more to buy the plan.

It’s advisable that you contact several insurance companies in your area to find out the costs. No matter where you buy the plan from, the benefits of Plan F remain the same. So, make an informed decision only after comparing the offers of each insurance company. You can check out the Medicare website to find the Medicare Supplement Insurance policy in your area.

What are the new changes in the Medicare Supplement Plan F?
You may have heard that there has been a change in the Medicare Supplement Plan F this year. The change is that people newly eligible for Medicare will not be able to purchase Medicare Supplement Plan F, as of 1st January,2020. According to congress.gov, all Medicare Supplement plans that cover Medicare Part B deductible — which includes Plan F as well as plan C — will no longer be sold to new enrollees. So, you will be able to apply to or keep Plan F only if you have already enrolled in Medicare Part A before 1st January, 2020.

Is there an alternative to Medicare Supplement Plan F?

Fortunately, yes. Medicare Supplement Plan G is very close to Plan F in coverage, so there is no need to be concerned if you’re not eligible to purchase Plan F. The only difference between Plan F and Plan G is that the latter does not cover Medicare Part B deductible. The rest of the benefits of these two plans are the same. The deductible for Medicare Part B is only $198 in 2020. So, once you pay this amount, there is essentially no difference between Part G and Part F. Additionally, the premiums for Plan G are usually lower than Plan F, which means you can even save some money.