Medicare Part F is one of ten Medigap policies that Americans can buy if they want health coverage beyond Original Medicare (or if they want help paying for their Medicare Part A and Part B coverage).
Medicare Plan F is one of the most popular Medicare supplement policies on the market. It covers a wide range of medical expenses and is offered by many health insurance providers.
If you’re wondering exactly what your Medicare benefits will look like under Plan F, or which private health insurance companies sell the Plan F Medicare supplement insurance plan, look no further.
What Is Medicare Supplement Insurance?
Medicare supplement plans (also known as “Medigap”) are private health insurance plans that supplement Original Medicare.
You can purchase Medicare supplement insurance at any point after you become eligible for Medicare Part A and Part B coverage.
The Federal Medicare Program
Medicare Supplement Vs. Original Medicare
Original Medicare refers to Medicare Parts A & B. It covers inpatient and outpatient medical services. However, it does not cover some key health care needs, including prescription drugs, dental care, vision care, or eye care.
Supplementary insurance can be purchased to fill in the gaps that Original Medicare doesn’t cover, such as copays and deductibles, which leave you with pockets of uncovered costs after your medical expenses are taken into account.
Depending on the plan purchased and what type of medical coverage is desired rather than just medically necessary coverage, different supplemental policies will focus on various parts of healthcare expenses such as prescription drug benefits or vision benefits.
What Do Medigap Plans Cover?
There are a variety of Medigap plans (as of 2021, there are ten different plans). You can buy Medical Supplemental Insurance from a private health insurance company, such as Aetna, UnitedHealthcare, Cigna, and Humana.
They cover, among other items, the co-insurance and deductibles for hospitalization, hospice care, or skilled nursing services that Medicare does not cover.
For some seniors, these extra benefits can make the cost of Medicare worth the investment. Others may be able to get help paying their medical bills through Medicaid or a different program.
What Is Medicare Supplement Plan F?
Medicare Supplement Plan F provides the most comprehensive coverage of all Medigap plans. Notably, it provides coverage for:
- Medicare Part A and B deductibles
- International medical emergency services
- Skilled nursing facility care
Medicare Plan F is a highly cost-effective option for people over 65 years of age. While the premiums will be higher than other Medigap policies, there are little to no out-of-pocket expenses, except for prescription drug costs.
Medicare Supplement Plan F is one of only two Medicare Supplement insurance plans covering 100% of Medicare Part B excess charges (the other being Medicare Supplement Plan G).
Medicare Plan F Eligibility
Plan F is only available to Medicare beneficiaries who were eligible for Medicare before Jan. 1, 2020.
Plan F is going away due to new legislation that no longer allows Medicare Supplement plans to cover Medicare Part B deductibles.
Since Plan F (and Plan C) pay this deductible, private insurance companies can no longer offer these plans to new Medicare enrollees.
Medigap Plan F Benefits Cheat Sheet (Printable PDF)
If you’re like me and understand things better on paper, we’ve put together a printable, one-page cheat sheet to help you get your head around Plan F.
In the sections below, we’ll go through each of these benefits in more detail.