Is Medigap Plan F Being Discontinued?

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Besides Medicare Plan G, Medicare Plan  F is one of  the most popular of the ten current MedSup policies available. Its popularity is mostly due to the fact that it is one of the most comprehensive. In other words, Plan F covers most of the gaps (out of pocket Medicare Co-Insurance and Co-pays)  in Medicare Part A and Part B. This means hardly any out-of-pocket costs, if any, when visiting a doctor.

As of January 2020 Medigap Plans sold to new people with Medicare are not allowed to cover the Part B deductible ($203 in 2021) because of this, Plans C & F are not available to people new to Medicare. If you already have one of these two plans, you will be able to keep your plan. If you were eligible for Medicare before January 1, 2020, but not yet enrolled, you may be able to buy one of these plans.  However, no need to worry, because Plan G is very similar and the only difference is that it does not cover the very small deductible for Part B.

Some of the coverage included in Part F is:

  • 100% Part A deductible 
  • 100% Part B deductible 
  • Covers Part A coinsurance and hospital costs and up to an additional 365 days after Medicare benefits are used up. 
  • Part B coinsurance or copayment 
  • Part B excess charges
  • Includes skilled nursing facility coinsurance 
  • Up to 80% of Foreign travel emergency treatment.

 

It is important to keep in mind that all policies, including Part F, cover the same benefits but can be sold at a different cost. Shop insurance providers to find the best price for you before committing. Unfortunately, as of January 1, 2020, MedSup Part F is no longer on the market. Only those that were eligible before the January 1st date may enroll or switch over to this plan.

So why is the most popular medicare supplement plan being phased out? According to congress.gov, any Medicare Supplement plans that cover Part B deductibles will no longer be sold to newly eligible recipients. The change came as a part of the Medicare Access and CHIP Reauthorization Act (MARCA) of 2015.

What is the next best option similar to Part F? For those that are newly eligible for Medicare, the most comparable plan on the market is Plan G. It generally has the same benefits, except Part B deductible coverage, of course. Plan G has most of the same benefits, and  a high deductible version of Plan G is currently on the market. Make sure to check with the Benefit Link  to find the best plans for your needs. The Benefit Link can help you compare different plans at the lowest cost to you. Book an appointment to get started!

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It can be difficult to know whether or not you have proper coverage, but we can help! It’s our passion to provide peace of mind and ensure that you are well informed of your options and receive the best possible rates. Please feel free to call us at anytime, even if it’s just to chat.

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