February 2

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Medicare Part F – Doesn’t exist.

By Paul Bennett

February 2, 2018

Medicare Supplement, Part F, Plan F

Wait…There’s no Part F Medicare Supplement? That’s right, but there is a Plan F Medicare Supplement. It’s OK we know what you mean, but you need to be clear on the difference between the Parts and Plans of Medicare.

Just remember that Original Medicare has four parts. Here’s a very simple chart of those four Parts of Medicare.

Original Medicare Parts What are they for How much do they cost
Medicare Part A Hospitalization Usually Free
Medicare Part B Doctors $134 for most
Medicare Part C Medicare Advantage Starting at $0 monthly premium
Medicare Part D Prescription Drugs Starting around $20 to $100+

 

Now let’s review the plans that are available under the banner of Medicare Supplement Plans. Remember they are sometimes referred to as Medigap Plans or Medigap Insurance.

To make things just a little more complicated, the Centers for Medicare & Medicaid Services (CMS) and the States have chosen to burden you and I with not just one or two Medicare Supplement choices but ten in all. From Plan A right through to Plan N, including a high deductible Plan F.

Here’s another very simplified chart of all the Medicare Supplement plans available for insurance companies to offer.

Plan A Plan B Plan C Plan D Plan F* Plan G Plan K Plan L Plan M Plan N

 

*Plan F also has a High Deductible option in some states. If Medicare Supplement High Deductible Plan F is what you want just remember that you are responsible for paying up to $2,240 in 2018.

Choosing a Medicare Supplement Plan

Which Medigap plan is right for you? Well let’s just say it’s probably one of three out of the ten plans available. In our experience the most popular plans sold today are Plan F, Plan G and Plan N. If, we had to choose a forth it would most likely be Plan D. We know of nobody who has ever purchased a Plan M!

Making your final decision will come down to premium cost, amount out-of-pocket you are willing to absorb and the recommendation of your trustworthy insurance agent upon other factors. See our Blue Cross Medicare Plan F comparison here.

Have questions about Medicare?

Our team of independent agents are here to talk with you about finding the best insurance plan to meet your needs.

Call us at (800)405-4802 to talk about your Medicare options.

Paul Bennett

About the author

Our founder, Paul Bennett, grew up in the insurance business. In recent years he became increasingly concerned watching seniors wade through the confusing and complex world of Medicare just to find the right plan. Who could they trust to help them navigate the waters with their best interests in mind? Without an independent agent, there was little help to be found. Paul knew he could do better, and MediGap Select was born. He built a team of independent agents who shared his commitment to ensuring that people have the information and guidance they need to make the best decision regarding their insurance. Paul and his team bring clarity, simplicity, and transparency to the Medicare enrollment process, making it easy for you to find the right plan.

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