Plan F is one of the letter plans if you purchase a Medicare Supplement plan. Plans F and G are the only Medicare Supplement insurance plans that cover costs known as Medicare Part B excess charges. An excess charge is the difference between what a doctor or provider charges and the amount Medicare will pay. These plans will help protect you from additional out-of-pocket expenses should you need treatment that exceeds what Medicare will approve. Plan F also has a high-deductible option*. Plans F and G cover 100% of the Medicare Part B excess charges.
With Medicare Supplement Plan F, you get the most complete coverage available. Because the plan covers costs in excess of Medicare-approved amounts, you may have no out-of-pocket costs for hospital and doctor's office care with this plan.
Medicare Supplement Plan F covers:
Basic Medicare benefits including
- Hospitalization: pays Part A coinsurance plus coverage for 365 additional days after Medicare benefits end
- Medical Expenses: pays Part B coinsurance — generally 20% of Medicare-approved expenses — or copayments for hospital outpatient services
- Blood: pays for the first three pints of blood each year
- Hospice care: pays Part A coinsurance
In addition to the basic benefits, Plan F also provides coverage for:
- Skilled nursing facility care
- Medicare Part A deductible for hospitalization
- Medicare Part B deductible for medical and hospital outpatient expenses
- Medicare Part B excess charges (this is the difference between what a doctor or provider charges and the amount Medicare will pay up to Medicare's limiting amount)
- Travel-abroad medical emergency help
But did you know that in 2020, companies and insurance agents will no longer be allowed to sell plan F, although people who currently are enrolled in plan F, and who enroll for another few years, will be allowed to keep plan F. So in essence, no, plan F is not going away, but after 2020 no Medicare participant will be able to enroll in it. Plan G will most likely be the plan of choice, as the only difference currently between Plan F and Plan G are that Plan F pays the part B deductible (currently in 2017 is $183).
Contact me if you want more information on the differences between the different supplement plans and what they mean for you.