Check out our review below to see what makes Plan F the most popular Medicare Supplement (Medigap) plan. You can also read some customer reviews to learn more about finding the best Medicare plan for your needs.
Plan F covers more out-of-pocket Medicare costs than any other Medigap plan. Only Plan G comes close to offering nearly as much coverage as Plan F.
This means that if you decide Plan F is the best Medigap plan for you when you shop for a Medigap plan, it’s important to consider the plan cost and the insurance company’s reputation.
We give Plan F from each of the following Medicare Supplement carriers an “A+” rating based on the company’s reputation and financial strength:
Please note that not all of the companies listed above may offer Medigap Plan F in your area. Learn more about Medigap plans by visiting MedicareSupplement.com, and find the best 2020 Medicare Supplement Insurance company and plan for your individual needs.
Learn about Medigap plans in your areaVisit MedicareSupplement.com
Medicare Plan F is the most popular Medigap plan partly because it covers more out-of-pocket Medicare costs (such as deductibles, copays and coinsurance) than any other standardized Medigap plan.
|Medicare Supplement Benefits||A||B||C||D||F||G||K||L||M||N|
|Part A co-insurance and hospital costs||✓||✓||✓||✓||✓||✓||✓||✓||✓||✓|
|Part B co-insurance or co-payment||✓||✓||✓||✓||✓||✓||50%||75%||✓||✓|
|First 3 pints of blood||✓||✓||✓||✓||✓||✓||50%||75%||✓||✓|
|Part A hospice care co-insurance or co-payment||✓||✓||✓||✓||✓||✓||50%||75%||✓||✓|
|Co-insurance for skilled nursing facility||✓||✓||✓||✓||50%||75%||✓||✓|
|Medicare Part A deductible||✓||✓||✓||✓||✓||50%||75%||50%||✓|
|Medicare Part B deductible||✓||✓|
|Medicare Part B excess charges||✓||✓|
|Foreign travel emergency||80%||80%||80%||80%||80%||80%|
|1. Plans C and F are not available to new beneficiaries who become eligible for Medicare on or after January 1, 2020.
2. Plans F and G also offer a high deductible plan which has an annual deductible of $2,340 in 2020. Once the annual deductible is met, the plan pays 100% of covered services for the rest of the year. The high deductible Plan F is not available to new beneficiaries who become eligible for Medicare on or after January 1, 2020.
3. Plan K has an out-of-pocket yearly limit of $5,880 in 2020. Plan L has an out-of-pocket yearly limit of $2,940 in 2020.
4. Plan N pays 100% of the Part B coinsurance, except for a copayment of up to $20 for some office visits and up to $50 for emergency room visits that don’t result in an inpatient admission.
View an image version of this table.
The out-of-pocket Original Medicare (Part A and Part B) costs covered by Plan F include:
The first eight items on the above list are covered by Medicare Plan F at 100 percent. The final item, foreign travel emergency care, is covered at 80 percent (which is the maximum allowed by Medigap plans).
Plan F benefits rating: With cost coverage offered in all nine Medigap benefits areas, Medicare Plan F earns an “A+” review in terms of its coverage.
Medicare Supplement Insurance Plan F benefits are standardized by the federal government. That means the basic out-of-pocket Medicare costs covered by Plan F sold in New York will be the same as Plan F sold in California.
Plus, Medicare Supplement Insurance plans are required by law to be accepted anywhere that Original Medicare is accepted. This means that if your doctor, hospital or other health care provider accepts Medicare, they will accept your Medigap Plan F.
There are no other network restrictions regarding where you can use your Medicare Supplement plan.
Learn more about the top 10 Medicare Supplement Insurance companies that may offer plans in your area.
Note: Medicare Supplement Plan F and Plan C will no longer be offered to new Medicare beneficiaries who became eligible for Medicare after January 1, 2020.
If you were eligible for Medicare before Jan. 1, 2020, you may still be able to enroll in Plan F if it’s available where you live. If you already had Plan F or Plan C before Jan. 1, 2020, you will be able to keep your plan.
When reviewing a Medicare plan, it helps to compare some of the pros and cons.
Here is a look at the pros and cons of Medicare Plan F.
|Medicare Plan F Pros||Medicare Plan F Cons|
You pay no out-of-pocket costs for health care that’s covered by Medicare (other than your monthly premiums)
Average premiums are among the more expensive average Medigap plan premiums
Covers more out-of-pocket Medicare costs than any other Medigap plan
No longer available to new Medicare beneficiaries who became eligible for Medicare after Jan. 1, 2020
Has a high-deductible option available in many areas
Widely available for purchase by a number of Medicare Supplement Insurance carriers
The average Medicare Plan F premiums cost $169 per month in 2018, which is among the more expensive Medigap plan premiums and higher than the overall plan average of $152 per month.1
However, it’s important to review the cost of a Medigap plan not only by its price tag but by its overall value.
While Plan F could have higher premiums than other Medigap plans, it also carries the potential to save you more at the point of receiving care, since your covered out-of-pocket Medicare costs are paid for.
For example, Plan F is one of only two standardized Medigap plans to cover the Medicare Part B annual deductible and also one of only two plans to cover Part B excess charges in full.
Plan F gives beneficiaries the peace of mind of having cost certainty and protection against surprise out-of-pocket medical bills.
And because it covers Part B excess charges, Plan F also allows beneficiaries some increased freedom to visit non-participating health care providers (providers who don’t accept Medicare reimbursement as payment in full for their services).
Plan F can also cover up to 80% of the cost for foreign travel emergency care.
As of 2017, 85 percent of insurance companies that sold Medicare Supplement Insurance plans offered Plan F as part of their selection.2 This was the largest percentage of any Medigap plan.
Additionally, there is a high-deductible version of Plan F that can offer consumers another option. High-deductible Plan F allows plan members to pay a smaller monthly premium in exchange for an annual deductible for covered services.
By the end of 2017, 55 percent of all Medigap members belonged to Plan F.2 The next most-popular plan (Plan G) held just 13 percent of Medicare beneficiaries.
Of the 13 million beneficiaries who had a Medigap plan in 2017, more than seven million were enrolled in Plan F.
However, because of the new rule barring new Medicare beneficiaries from joining Plan F, the market share for this plan will gradually decrease in the coming years.
Given just how many people are enrolled in Plan F, it’s fair to say there are a lot of happy customers with Plan F coverage.
At least seven states (NY, CT, MA, CA, OR, ME, MO) offer guaranteed issue rights for switching plans (meaning members can switch Medigap plans without undergoing any underwriting.)
Don’t just take our word for it! Watch the video below to hear some Medicare Supplement plan customer reviews, from MedicareSupplement.com.
Learn more about Medigap plans by visiting MedicareSupplement.com, and find the best 2020 Medicare Supplement Insurance company and plan for your individual needs.
Learn about Medigap plans in your areaVisit MedicareSupplement.com
1 TZ Insurance Solutions LLC internal sales data, 2019. This data is based on the Medicare Supplement Insurance policies TZ Insurance Solutions LLC has sold. It is not a comprehensive national average of all available Medicare Supplement Insurance plan premiums.
2 AHIP. The State of Medigap 2019. (May, 2019). Retrieved from www.ahip.org/wp-content/uploads/IB_StateofMedigap2019.pdff.