Medicare Supplement Plan F was the Supplement that offered the most comprehensive coverage out of all the supplements.
However, because of the Medicare Access and CHIP Reauthorization Act of 2015, those who turn 65 after January 1, 2020 are not allowed to purchase the plan because it covers Medicare Part B’s deductible.
What is covered under Medicare Supplement Plan F?
Medigap Plan F covers 100% of the costs Medicare expects you to pay for:
- Coinsurance
- Medicare deductibles
- Hospital costs after you run out of Medicare-covered days
- Skilled nursing facility costs after you run out of Medicare-covered days
- Part B excess charges
- Blood transfusions
It also covers 80% of a foreign travel emergency.
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What if I’m not eligible for Plan F?
If you are not eligible because you turned 65 in 2020 or later, Plan G is now your most comprehensive coverage option available. The only thing covered under Plan F that is not under Plan G is Medicare Part B’s deductible.
When can I enroll?
You can enroll in a Medigap plan when your Part B plan becomes effective. Once that happens, you’ll have six months to enroll in a Medicare Supplement with no medical underwriting. This means you’ll be guaranteed acceptance and premiums will not vary based on your health.
After those six months are up you may still be eligible, but your acceptance and premiums will be based on your health.
The only difference between companies is price
Don’t forget: Medicare Supplements are standardized. This means the same letter plan provides the same coverage at all insurance carriers. The only difference will be price. So, shopping your policy among all carriers is the only way to get the best deal.
If that sounds time consuming, don’t worry! We do all the shopping for you and it won’t cost you anything. So, give us a call and let us find the best Medicare Supplement plan for you!
