Medicare Supplement Insurance: Plan F
Medicare Supplement Plan F offers the most comprehensive basic benefits out of all Medicare Supplement (Medigap) policies. As a result of providing a complete benefits list, Medigap Plan F is often the most expensive plan option out of all other Medigap plans, yet it remains a popular choice among Medicare beneficiaries. Medigap Plan F leaves enrollees with minimal out-of-pocket expenses by covering the remainder of hospital and doctor costs after Original Medicare (Part A and Part B) has paid its portion.
Medicare Supplement (Medigap) Plan F Covered Benefits
The following is a list of costs and benefits covered by Medigap Plan F:
- Part A deductible
- Part B deductible
- Part B excess charges
- Preventative care Part B co-insurance
- Part A hospital and co-insurance costs up to an additional 356 days after Medicare benefits are exhausted
- Part B co-insurance or co-payment
- First three pints of blood used in an approved medical procedure (annually)
- Part A hospice care co-payment or co-insurance
- Skilled Nursing Facility (SNF) co-insurance
- Foreign travel emergency
Costs Associated with Medigap Plan F Coverage
There is an additional high deductible Medigap Plan F option that requires beneficiaries to pay out-of-pocket expenses for the first $2,300 in 2019 before the plan will begin paying for coverage. This plan is a cheaper alternative to the standard Medigap Plan F, since the beneficiary is responsible for higher out-of-pocket costs from the start.
Medigap Plan F is offered through most insurance companies, so you may want to shop around. Other plans may be available at lower cost but Plan F generally represents a great value for those facing increased copayments and deductibles because of regular medical attention.