Medicare Supplement
Plan F is a specific type of Medicare Supplement and is the most comprehensive
of the standardized Medicare Supplement plans available in most states. This Medicare Supplement,
also called Medigap insurance may help pay for out-of-pocket costs of Medicare
Part A and Part B. These costs can be coinsurance, copayments, or in some cases
deductibles.
Note: Medicare Part A
and Part B make up the federal government’s Original Medicare
program. Medicare Supplement plans are also named with letters but they are not
the same thing.
In 47 states, there
are up to 10 Medicare Supplement plans that are standardized with lettered
names and each standardized plan has the same set of basic benefits.
This is what Medicare
Supplement Plan F may cover:
- Inpatient hospital costs and
coinsurance under Medicare Part A for an additional 365 days after
Medicare coverage runs out
- Coinsurance for skilled nursing
care facilities
- Medicare Part B
coinsurance/copayments
- Part A deductible
- Part B deductible
- Limited emergency medical care
overseas (80% up to plan limits)
- Hospice care
coinsurance/copayments under Part A
- First three pints of blood
- Part B excess charges
There’s also a high-deductible version of Medicare Supplement Plan F in which you
generally have to pay an annual deductible before Plan F pays your Medicare
out-of-pocket costs.
Like all Medicare Supplement
plans, Plan F is sold by private insurance companies.
Will Medicare
Supplement Plan F being discontinued?
According to
congress.gov, Medicare Supplement plans that pay the Medicare Part B deductible
will no longer be sold to those newly eligible. This change is part of the
Medicare Access and CHIP Reauthorization Act of 2015 (MACRA).
However, there is quite an exception;
- If you already have Medicare
Supplement Plan F (or Plan C, which also covers the Part B deductible),
you can generally keep it.
- If you were eligible for
Medicare before January 1, 2020, you may be able to buy Medicare
Supplement Plan F or Plan C.
- If you qualify for Medicare on January 1, 2020, or later, you may not be able to buy Medicare Supplement Plan F or Plan C.
How much is the deductible?
The Medicare Part B
deductible can change every year. In 2020, it’s $198. That’s the amount you have to pay
before Part B pays for covered services.
Is there another
Medicare Supplement plan that may be comparable?
If you become eligible
for Medicare in 2020 or later, although you may not be able to buy Medicare
Supplement Plan F or Plan C, you may be able to buy a very similar plan.
Medicare Supplement
Plan G generally has the same basic benefits as Plan F, except for the Part B
deductible. A high-deductible version of Plan G might become available in 2020,
according to Oregon.gov. If you live in
Massachusetts, Minnesota, or Wisconsin, contact your state health insurance
assistance program (SHIP) to learn about Medicare Supplement plan details in
those states. Go to https://www.shiptacenter.org/ and
select your state.
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