What is Medigap Plan F?

Since the inception of Medicare, Medigap plans at help seniors save a great deal of money on their medical bills covering the gaps in Medicare part a and part B.  While there have been many changes in Medigap plans over the years, one plan has remained one of the most popular and a favorite amongst beneficiaries.  Medigap plan F is the most comprehensive plan offered by Medicare.  This plan covers 100% of any co-pays, deductibles, and it pays also 100% of the coinsurance that Medicare part A and B do not cover.

It is by far the most popular plan and several different insurance carriers offer this coverage.  This does not mean you should not look at other plans as there are a few others that have outstanding benefits with lower premiums than plan F.  However with these lower premiums comes cost-sharing options, meaning that you must pay either co-pays or deductibles to get these lower premiums with these plans.

Let’s take a quick look at what exactly Medigap plan F does come over, and then we will compare some other options to help you choose which coverage is best for you.

Medigap plan F

This plan pays the part a deductible the part B deductible, as well as coinsurance for both part a and part B.  The easiest way to consider what plan F actually is, would be to simply look at it as 100% coverage.  This means you can visit any Dr. or specialist in the United States provided they simply accepts Medicare and you will never receive a medical bill for all Medicare-approved expenses.

So while this is the best coverage, it also has the highest monthly premium.  A very important consideration when shopping for Medigap plan F is that while most insurance carriers offer this plan, they all have the same benefits.  This is because the plan is standardized by the governments, meaning that each carrier must offer the same benefits within each plan letter.  Therefore, a Medigap plan F from AARP, is identical to a plan F from AFLAC.  Their premiums however, can vary dramatically.  This is why it it is extremely important to shop all of the rates from the top carriers in your area using this website.

Are There Other Options?

Some other plans to consider might be a plan G or a plan N.  These plans are similar to F in the fact that they cover the 20%, however prior to Medicare paying anything you must pay the annual part B deductible yourself.  With plan G after this deductible is met the plan pays everything 100% with no other out-of-pocket expenses.  On plan N there are additional cost-sharing expenses that you must pay such as copays and part B excess charges if applicable.

Many people do not wish to pay any other additional expenses and simply want all of their medical bills paid in full.  Because a Medigap plan F pays all deductibles and coinsurance this would be the best option.

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