Medicare coverage is broken down into different parts, which are assigned letters. For example, Original Medicare is made up of Part A (Hospital) and Part B (Medical), while Medicare Advantage plans are referred to as Part C.
Not to be confused with these parts of Medicare, but there are additional plans available to help cover any remaining out-of-pocket expenses. These plans, known as Medigap or Medicare Supplements, are also assigned letters A-N to differentiate between them. If desired, one of these plans would be purchased in addition to your Original Medicare policy, depending on how much coverage you need.
How Does Medigap Plan F Work?
The most popular Medigap plan is Plan F. This plan offers some of the highest coverage available to its participants. There are two different versions of this particular plan available, one with a higher deductible and one with a higher monthly premium.
With its extended coverage for expenses like copayments, coinsurance, and other out-of-pocket costs, it’s safe to say that Plan F is more costly than other Medigap options. After the deductible is met, Plan F covers things like your Part A and Part B deductibles, Part B copays, hospitalization, emergency travel care, coinsurance for hospice and skilled nursing facilities, and up to three pints of blood.
Part B Deductible Coverage
Due to changes made to Medicare laws, Medicare Part B deductibles are no longer covered by Medigap policies. As a result, those eligible for Medicare as of January 1, 2020, will not be able to enroll for Plan F. If you qualified for Medicare before January 2020 but did not apply, you still may be eligible for Plan F. Otherwise, you will have to select an alternative Medigap policy.
A comparable alternative to Plan F is Medigap Plan G. For those not eligible for Plan F, Plan G serves as a great option for comprehensive coverage. It has the exact same coverage and a high deductible option. The only cost it will not cover is the Part B deductible.
Those already enrolled in Plan F will be able to keep their policies.
Need Help Finding a Medigap Plan? Give Us a Call
We understand the importance of having the right amount of coverage. If you call us today, we will walk you through your Medigap options to help you determine which plan will work best for you.
