Medicare Supplement Plan F
Medicare Supplement Plan F is the most comprehensive plan out of the 10 available Medigap policies. The expansive coverage makes this a popular plan, though it is also the most expensive. Plan F leaves a beneficiary with no out-of-pocket expenses because it covers all remaining hospital and doctor costs after Original Medicare (Part A and/or Part B) has paid its portion.
What is covered under Plan F?
Because of its popularity, most Medigap carriers sell Plan F. The details of the plan will remain the same no matter where it is purchased though the cost might vary.
The following is a list of costs and benefits covered by Medicare Supplement Plan F:
- Part A deductible
- Part B deductible
- Part B excess charges
- Preventative care Part B coinsurance
- Part A hospital and coinsurance costs up to an additional 356 days after Medicare benefits are exhausted
- Part B coinsurance or copayment
- First three pints of blood used in an approved medical procedure (annually)
- Part A hospice care copayment or coinsurance
- Skilled Nursing Facility (SNF) coinsurance
- Foreign travel emergency
Medicare Supplement Plan F may offer expansive coverage, but it does not cover everything. Under Plan F, beneficiaries are still required to pay their Medicare Part B premium payments each month. Additionally, it is possible to have Medicare Part A without a monthly premium if the beneficiary has worked and paid Social Security taxes for at least 40 calendar quarters (10 years). Otherwise, a monthly premium for Part A coverage is also required. These costs are not covered under Medicare Supplement Plan F.
What are the costs associated with Plan F coverage?
Plan F costs will vary depending on the carrier.
There is also an additional high deductible Plan F option. This variation on the standard Plan F requires beneficiaries to pay out-of-pocket expenses for the first $2,180 in charges, after which Plan F will kick in and start paying for coverage. There is no change to the list of coverage under this high deductible plan; it is simply a cheaper alternative to the standard Plan F.
Other Medicare Supplement plans are available at lower costs, but the details of Plan F make it an attractive option for those facing high out-of-pocket costs and need regular medical attention.