Medigap Plan F - Is it STILL the best choice?

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Chances are you’ve heard of Medigap Plan F. It’s known as the cadillac of all ten Medigap standardized plans. But even though Medicare Plan F has been popular for years, is it still the best plan?

But does that mean Medicare Supplement Plan F is still the best choice?

Today I’ll share 3 facts about Plan F and go over actual client cases and their average rate increases for the last three years.

So how do I know about Medicare and Medigap insurance? Let me tell you a little bit about myself. My name is Joann Quinn. I’m Co-founder of REMEDIGAP.com and a Medicare Supplement Specialist (aka insurance agent...but far from the stereotypical type). I’m also a former teacher and my passion for educating transfers over to Medicare.

Here are 3 facts about Plan F.

Fact #1 Medigap Plan F has the best benefits of all ten Medigap Plans. It’s the only plan to offer 100% coverage in all categories. In a nutshell, it covers all Medicare deductibles, co pays and coinsurance. If you go to the doctor and Medicare pays its portion of the bill, Plan F will pay the rest.

Fact #2 Medicare Supplement Plan F is first dollar coverage. That means it pays immediately including the Part B deductible that must be met before Medicare will begin paying its portion costs...which is 80%. In actuality, it’s the insurance carrier paying the part b deductible for you. But, just because it pays the deductible for you doesn’t mean you’re not paying it. Do you really think the insurance company is going to let you get away with a freebie? Most of the time, that deductible is incorporated into your premium.

Fact #3 Plan F is going away and staying around, so let’s clear up the rumor. Congress decided that insurance companies can longer sell first dollar coverage plans beginning Jan 1, 2020 to anyone newly eligible for Medicare. Don’t panic! If you’re enrolled in Medicare or were eligible for Medicare before that date...no worries...you can still buy Plan F after 2020 or keep the Plan F you already have.

[johnmedina]

I feel conformable with plan F. It takes away the worries for extra charges. Is there fitness coverage?

[gulmohammed]

I have plan F for more then 10 years and I’m paying close to $260.00 a month is that good deal. Mutual of Omaha don’t have fitness coverage. I’m pretty healthy accept I have mild diabetes type 2. What do you suggest considering my age at 77

[TheLionessjudah]

The price just quoted for both my spouse and I is over 600.00 a month for this plan F.

[dennisfrey]

All have plan f and all have different increases why

[jimster]

I am a bit confused with the alphabet soup of medicare but you've clarified it a bit. Would like to get prescription, vision and dental covered.

[dwaynewills]

Not sure about the math--Are you sure those premiums are for a year and not monthly. I understand that the average part B is around $135.00. Is this an additional payment or does this include the $135.00..

[darsk]

Looking at the Client A example you give, shouldn't that read "average Plan F Increase of $17.66 a 'month, ' instead of 'year' "? If so, then the yearly increase is actually $211.92?

[alvinstevens]

I have a plan f from Transamerican pay $140 a month live in Mo. pays everything have mail in Drugs from Humana $17 a month plus some drugs are $8 extra

[Miguel]

Why not look at Plan F High Deductible?

[SEaudiofan]

You refer to these as yearly rate hikes, are you sure you didn't mean, per month?

[aem]

I am on disability and have medicare A and B i am only 56 and need a supplemental insurance but dont qualify bc i am not 65?? HELP

[alvinstevens]

I wasn't referring to you, I have family that lives in Florida thank you

[Lysander-Spooner]

Thanks. Will Plan G rates increase more now that policy F is sunset for new subscribers after 2020?

[TheMedicareNavigators]

Great content! Part B Deductible has been pretty steady since you created this video. Good for your Plan G clients!

[Lysander-Spooner]

Hi again, in thinking about the sunset of Plan F in 2019 won't that mean the insurance pool will shrink as members die off. This will result in higher premiums for current F members, so I am thinking plan G is really a better choice for NEW enrollees, right?

[alvinstevens]

I think it all depends on where you live

[freedomwatchdog]

Best look'n ins. shill on here ...

[alvinstevens]

You might tell the people about where you live