Medicare Plan F: A Detailed Look At The Most Comprehensive Plan Option On The Market
Medicare Plan F is one of 10 standardized Medigap or supplemental Medicare plans. These plans are available to people enrolled in both Medicare Parts A and B.
Medicare’s standardized of these plans means that plans are designed to offer the same benefits. This is regardless of which company you choose to buy your plan. A Medicare Plan F from Aetna is the same Plan F that you can buy from Mutual of Omaha.
Medicare Plan F is the most popular Medigap plan, it provides the most comprehensive coverage.
“According to the Association for Medicare Supplement Insurance, 66 percent of Medicare beneficiaries choose Medicare Plan F.”
Medicare Plan F is the only plan that covers all the gaps in Original Medicare. The following are the benefits available with Medicare Supplement plans.
In Massachusetts, Minnesota, and Wisconsin where plans are set up differently.
URGENT: On January 1, 2020, Medicare Plan F will no longer be SOLD. Those who purchase a Medicare Plan F before this date will be able to keep it.
Whats Not Covered by Medicare Plan F
Prescription Drug Coverage: You enroll in a seperate Medicare Part D prescription drug plan.
“The Extras”: Medicare Plan F doesn’t include coverage for hearing aids, vision and dental care, long-term care. Other types of policies such as Medicare Advantage plans may offer these benefits. Keep in mind you are paying more out of pocket for your basic medical services. You may also be restricted to certain hospitals and doctors. Often time those “extras” aren’t really extra benefits at all
How to Enroll in Medicare Plan F
Open Enrollment Period:
The Open Enrollment Period – sometimes called the Annual Election Period or Annual Coordinated Enrollment Period – runs each year from October 15 to December 7. During this time,
A person with Medicare Parts A & B can switch to a Part C plan.
Anyone with Medicare Part C can switch back to Parts A & B.
Someone who has or is signing up for Medicare Parts A or B can join, drop or switch a Part D prescription drug plan.
Anyone with Medicare Part C can switch to a new Part C plan.
Your coverage will start on January 1 of the following year.
Initial Enrollment Period:
The Initial Enrollment Period (IEP) is the first time you can sign up for Medicare. You may join Medicare Parts A, B, C and D during this time:
The 3 months before your 65th birthday,
The month of your birthday, and
The 3 months after your birthday.