Finding the right Medigap policy does not have to be difficult. Although there are 10 different plans available most people only choose between a few of them due to their outstanding coverage and low premiums. Plan F Medigap coverage is the very best you can get and it is also the most popular plan. Which only to decide is if the plan meet your needs and budget.
What is Plan F?
Because Medicare part a and part B have coverage gaps, meaning that there are expenses they do not pay, many people choose to enroll in one of the Medigap plans to supplement their coverage. The most popular plan by far is a plan F Medigap because it pays 100% of the costs or gaps that Medicare part A and B do not.
There are no deductibles, no co-pays, and no coinsurance. All of your Medicare approved expenses will be paid 100% by Medicare and the plan F Medigap. It’s easy to see why this is the most popular plan however it does cost the most as well.
Who is Eligible?
Anyone age 65 and older as well as those who qualify for social security disability and Medicare may enroll in a plan F Medigap. Most people choose to enroll at the time they are turning 65 or first eligible for part B Medicare. This is because they have six months to enroll without having to go through medical underwriting. This means that all preexisting conditions will be waived if they are guaranteed enrollment into the plan. They may choose from any company to get their coverage with no questions asked.
Others who are working past the age of 65 and enrolled in part B Medicare may also enroll a plan F when their group coverage ANS and be eligible for guaranteed issue with no medical underwriting. This must occur within 63 days of their employer group coverage ending. They may choose other plans however they may not qualify for guaranteed issue so check with us to see which plan you qualify for.
None of the Medigap plans offer prescription drug coverage at this time. This means you will have to enroll in a separate part D drug plan if you want coverage for your prescriptions. The best place to see which plans are available in your area is at www.Medicare.gov.
The most important thing to consider when shopping for plan F Medigap coverage is that every insurance carrier has the exact same plan F. There is absolutely no difference in coverage from company to company however the premiums can and do very extensively. This means you’ll want to get quotes from multiple companies to see who has the best rates in your area. Simply enter your zip code below to compare plans and rates instantly.