Broker Check

Medicare Plan F today… and in 2020

January 28, 2019

Plan F is the most comprehensive true Medicare Supplement plan available. Part A and B deductibles are fully covered, as are the coinsurances after Medicare has paid, including excess charges up to 15% of approved doctor charges. Hospital costs after Medicare is exhausted are also paid up to an additional 365 days. The plan also provides for international coverage for emergency situations (see policy for details). As long as a physician accepts Medicare patients, the client may choose any hospital or doctor they wish to see -- no networks are involved.

Plan F has a sister called High-Deductible Plan F (HDF). Once deductible and coinsurance amount reach $2,240 (2018), the balance of costs are paid at 100% by this plan. No network needed. The cost is substantially lower for this plan.

The Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) included significant changes to who can purchase Medicare plans C, F and HDF for those aging into Medicare after 12/31/2019. These plans will no longer be available to be sold to newly eligible beneficiaries. Instead, the plans available to those new to Medicare will be plans D, G and possibly high deductible G. Plan N is unaffected by MACRA.

Those who already enrolled in C, F or HDF plans will not be affected. They can change from F to HDF or C, if the carrier offers it, subject to underwriting in most states. If one is Medicare-eligible prior to this date but has not elected it (e.g., on a group plan or other coverage), they will still have ability to get plans C, F and HDF. Expect to see many new repriced plans later this year as carriers prepare for MACRA, which takes effect January 1, 2020.