What is Medicare Supplement Plan F and is it still available?

Medicare supplement Plan F has been one of the most popular Medicare supplement insurance options. However, it’s being phased out, along with Medicare supplement Plan C.

Plan F and Plan C are only available to people who turned 65 before January 1, 2020 or were first eligible to receive Medicare benefits due to age, disability or end-stage renal disease (ESRD) before January 1, 2020.

Can I keep my Medicare supplement insurance Plan F or Plan C?

If you were eligible for Medicare before January 1, 2020, Plan F and Plan C are still options for you even after that cutoff date. If you’re already enrolled in one of these plans, the first and most important thing to know is that you aren’t going to lose coverage from your plan. You will keep it and continue to receive benefits as long as you continue to pay your monthly premium. You also won’t have to change providers or change plans.

Why are Plan F and Plan C going away?

These two plans are being discontinued because of The Medicare Access and CHIP Reauthorization Act of 2015 (MACRA). This law states that Medicare supplement policies that cover the Medicare Part B deductible can no longer be offered to people who become eligible for Medicare on or after January 1, 2020.

What about people who weren’t eligible for Medicare before Jan. 1, 2020?

If you weren’t eligible for Medicare until after the Plan F and Plan C cutoff date, you have other Medicare supplement plan options. There are two plans that provide close coverage to the departing plans. They might be worth considering if you are interested in Plan F or Plan C but aren’t eligible.

• Medicare Supplement Plan G:
  Plan G has all the same features as Plan F but doesn’t cover the Part B deductible.
• Medicare Supplement Plan D:
  Plan D has all the same features as Plan C but doesn’t cover the Part B deductible.

There are a variety of Medicare supplement plans you can choose from that can help provide the coverage you need while helping manage health care costs. If you have Plan C or Plan F now, you can keep your plans with no problem. But if you weren’t eligible before the 2020 cutoff date, you’ll need to consider an alternate plan.

Is it worth it to stay enrolled in Plan F?

If you’re already enrolled in Plan F, you don’t have to change plans, but you might wonder if it’s the right plan for you. When deciding to switch plans, there are several considerations to keep in mind:

• Medical underwriting:
  You may need to go through medical underwriting for the new plan if you’re outside of your initial enrollment period. If you don’t pass underwriting, you may not qualify for the new plan.
• Financial factors:
  Generally, plans with higher premiums offer the broadest coverage and fewer out-of-pocket costs. Plan F is the Medicare supplement plan that provides the broadest coverage. Plan F and Plan C are the only plans that cover the Part B deductible ($240 in 2024). Other plans, like Plan G and Plan D, offer similar coverage, but they don’t include the Part B deductible. Take into consideration your out-of-pocket costs compared to your premium when evaluating Medicare supplement plans.
• Waiting periods for pre-existing conditions:
  Some plans may impose waiting periods for coverage of pre-existing conditions if you switch outside of your open enrollment period.

How does Medicare Supplement Insurance work?

Your Medicare supplement plan is used alongside your Original Medicare (Part A and Part B) plan to help cover out-of-pocket costs that Original Medicare doesn’t. These costs may include copays, coinsurance and deductibles. You can apply for Medicare Supplement plans year-round, although it may be best to apply during your initial enrollment period. There are 10 different plans to choose from, all with different coverage that may help give you the cost-efficient health care that you need.

Choosing a Medicare plan is an important decision – and we’re here to help. Our Advice Center can provide a recommendation on what Medicare solution may be right for you when you answer a few questions about your specific needs.

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