Medigap Plan F

Medigap Plan F

Medigap Plan F, also called Medicare Supplemental Insurance Plan F, is the most popular Medigap option as it is one of only two plans that cover Medicare Part A and B excess charges.  Once a Medicare enrollee reaches a certain cap on their health coverage, they are responsible to cover all remaining costs for medical services.  Medigap Plan F covers the cost of medical services should you exceed your allotted limited that Medicare covers.

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Medicare Supplemental Insurance Plan F is the most popular Medigap option as it provides complete peace of mind when visiting the doctor’s office or when hospital treatment is necessary.  Policy holders do not need to worry about paying extra money out of pocket to cover services that Medicare won’t pay for.

Coverage Provided by Medigap Plan F

Medigap Part F covers excessive costs that go beyond the limits of coverage provided by Medicare.  These coverage benefits include:

  • Hospital Stays – Medicare Part A only covers a limited amount of expenses incurred by hospital stays.  Medigap Plan F pays for hospital services for an additional 365 days after Medicare coverage maxes out.
  • Medicare Coinsurance – Medicare Part B has a 20% coinsurance requirement that is paid by the policy holder.  Medigap Plan F takes care of the required copayment for Medicare-approved services.
  • Blood Transfusions – Medicare only covers the cost of blood after the patient pays for the first three pints.  Medigap Plan F covers the cost of the first three pints of blood.
  • Hospice Services – Medicare Part A has a required copayment for hospice care services.  Medigap Plan F pays this copayment.

Medigap Plan F goes beyond just paying for the portions that aren’t covered by Medicare.  In addition to covering the copayment and coinsurance requirement, Medigap Plan F also covers:

  • Nursing Care – Services provided by a skilled nursing facility are covered
  • Travel Insurance – Basic needs will be provided for should an overseas emergency occur
  • Medicare Part A – Plan F covers the cost of the deductible required for hospital services
  • Medicare Part B – Plan F covers the cost of the deductible required for outpatient services
  • Additional Charges – Any fees above the cap provided by Medicare Part B are covered
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Medicare Plan F High Deductible Option

Because Medigap Plan F offers extensive coverage, it is the most expensive Medicare supplemental insurance plan.  Often the monthly premium is more than many people can afford (plan prices will vary depending on each individual’s circumstances).  To offset the high cost and encourage Medicare enrollees to purchase Medigap Plan F, many insurance companies offer a high-deductible version of this plan.

High-deductible means that the monthly cost of the Plan F will be much lower than a regular deductible option, but policy holders will be required to pay $2,110 in deductible payments and fees before Medigap Plan F will begin covering the cost of medical services.  With a normal deductible plan, coverage starts immediately with no out-of-pocket costs to the policy holder.

Medigap Plan F Costs and Enrollment

Medigap Plan F offers the most extensive and complete statutes of coverage out of all Medicare supplemental insurance plans available.  Because of its almost limitless coverage, it is the most expensive policy available as well.

Cost for Medigap Plan F will vary depending on each enrollee.  Age, location, health history, and current health are just some of the factors that are considered when an insurance policy is considering issuing you a policy.  To get a free quote on a Medicare supplemental insurance Plan F policy, fill out the zip code form to view available plans in your area.

Enrollment limitations also apply.  Each applicant for a Medigap Plan F policy will be considered individually and coverage will depend on a variety of factors. Each insurance company has their own coverage requirements, costs, and limits, so speaking to a variety of companies and comparing costs and coverage will help you find the best policy available.  To view companies in your area, fill out the zip code form.

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