Learning About Medicare Part F

This is a Medigap F plan and is an across the board supplement plan to Medicare that people can buy. It will cover your Medicare deductibles, coinsurance and copays. You will not have to pay anything out of pocket.

Baby Boomers have been buying the Medicare Part F plan for years. Medicare Part B is not replaced by the Medigap plans. You need to still be enrolled in Part A and B to be eligible for the Medicare supplement Plan F.

Benefits of Medigap Plan F

You will get comprehensive coverage when you add the Medicare Supplement Plan F to the Medicare benefits that you already enjoy. This is what the Medigap Plan F covers:

  • an additional 365 days once you have exhausted your Medicare benefits for hospital costs and Medicare Part A Coinsurance
  • Part B Coinsurance of Copayment
  • First 3 Pints of blood if needed
  • Copayment or Coinsurance for Hospice Care with your Part A Plan
  • Coinsurance for skilled nursing facility
  • Medicare Part A and Part D Deductibles
  • Excess charges of Medicare Part B
  • Coverage for foreign travel emergencies, up to the limit of the plan

Coverage for Doctor’s Copays

You will never have to pay the gap that Medicare plans do not cover for outpatient and hospital deductibles. It will also pay the 20% that your Part B will not cover. This makes Medicare plans that are supplements to your Medicare extremely desirable.

Medigap F Costs

Medicare Plan F varies from one area to another and it considers your gender, tobacco status, and zip code. Cost is usually $120 to $140 per month for a female 65. It is important for you to get a local quote for Medicare Plan F in your area.

For males, most carriers will have a higher cost for Plan F. Tobacco users will also pay more. Some carriers will give discounts for household coverage for Medicare supplement plans.

You can save money by reviewing Medicare supplement Plan F rates with different companies each year. The benefits for a Plan F will be the same from one company to another so you need to compare Medicare cost of supplement plans each year to save some money.

Coverage with Medicare Supplement Plan F

After Medicare pays, your supplement Plan F will pick up and pay what is owed. It will cover:

  • Part A hospital deductible, Part B outpatient deductible
  • the 20% that you need to pay after the Medicare Part B pays
  • the 15% that is in excess that doctors are allowed to charge for services under Part B
  • you may choose any doctor you want
  • no referrals are required
  • coverage cannot be canceled just because you have to many claims or because of your health conditions

The benefits are the same from all companies and they are guaranteed renewable.

Example of Medigap F

If you do not have supplement insurance you would have a deductible of $1,384 for Part A. If you go to the hospital you would have to pay 20% of the cost for surgery because your Medicare cost Part B only pays 80% of the cost. Having a Medigap F plan means all those costs would be covered and you would pay nothing.