Medigap Plan F, Pros and Cons

Medigap_FAs with everything, the Medigap Plan F (better known as Medicare Supplement Plan F), has pros and cons. Regardless, this is the most popular supplement to Medicare available. We’re going to take a moment and investigate the reasons this particular plan is so appealing and why or why it might not be best for you as a health care consumer.

Let’s start with the one negative aspect of the F Plan, if for nothing else, than to get it out of the way. The F Plan is one of the more costly plans available. Even though prices vary from one insurance carrier to the next, this plan will be at the top of their price chart. As we discuss the otherwise great aspects of this plan, you’ll see why it can be costly. With more benefit comes greater cost.

At the same time, all of the cost accumulated with the F Plan is up front. What does this mean for you? It means that all of the expense is built into your monthly premium instead of in high deductibles, co-pays and other methods of cost sharing (i.e. sharing a percentage of the final bill, usually as much as 50%).

Typically. Medicare subscribers have Part A, dealing with your hospitalization, long and short term and Part B, covering your medical expenses. The Medigap Plan F covers all of both Part A and B. Completely! This may not seem significant until you factor in the cost of co-pays, and cost sharing that other plans are subject to.

This plan is often times referred to as the ‘Cadillac’ of Medicare Supplement plans. With the F Plan nothing other than your monthly deductible will ever come out of your pocket. With that being said, its always best to understand what is covered and what isn’t.

For the discerning health care consumer, its always important to weigh cost vs. benefits. Ask yourself, does the cost equal benefits? Can I afford some cost sharing or a yearly deductible? As great as the F Plan is, not everyone can afford a Cadillac.

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