If you are turning 65 and a Florida resident, you are certainly familiar with the AARP Plan F Medicare Supplement (Medigap Plan). The plan is underwritten and administered by UnitedHealthCare Insurance Company. In most areas of Florida, it is very often the plan with the lowest price, but before purchasing, there are other options you will want to consider.
Medicare Supplement, or Medigap Plan F
Medigap Plan F is the most popular of all the ten standardized Medicare Supplement Plans. It is also the most expensive. However, once you pay your premium, your annual healthcare expenses are predictible and easy to budget. Also, like all Medicare Supplements, as long as you pay your premium your plan will remain in-force and can’t be canceled for any reason.
Medigap Plan F is the Most Comprehensive Medicare Supplement Plan
Medigap Plan F covers all nine of the Medicare Supplement benefits. Once you pay your premium, you will have first dollar coverage for all Medicare approved expenses. There are no copays or deductibles. it will even cover excess charges above the Medicare approved limits. It is often referred to as the “Cadillac Plan.” Although it covers everything it isn’t neccesarily the best value. Especially if you are paying for benefits you don’t need.
Medigap Plan F is being phased out.
Due to new legislation Medigap Plan F is being phased out in 2020. Because of this, along with other reasons it might not be your best coverage option. For more information I recommend reading our post “Say Good Bye to Plan F.”
Medigap Plan G or Medigap Plan N may be a better option.
Your situation is unique. When shopping for health insurance plans it is important to compare all of your options. It is my opinion some of the other Medicare Suppplement Plans represent a better value. Please read “Medigap Plan F or Plan N.” for more information.
Before choosing a Medicare Supplement Plan speak with one of our licensed advisors. They will help you decide on the plan that is right for you.
Medicare Supplement or Medigap Plan F has been the popular choice since it was first introduced in 1990. Over the years, over 50% of all new Medicare Supplement sales were with a Plan F, and for a long time, that decision made sense. The times they are a changing.
Plan F has long been the most popular of the standardized plans, and it does have a purpose. However, you should explore all of your options and make yourself aware of the potential pitfalls before owning one.
If you are shopping for a Medicare Supplement and trying to decide between purchasing a Medigap Plan F or a Medigap Plan C, I can help. In fact, this question is a quick an easy one.
Soon your favorite Medicare Supplement Plan F will no longer be available. Congress has passed legislation that prevents companies from covering the Part B Deductible starting January 1, 2020, making Plans C and F obsolete.
Medigap Plan F or Plan N, which is right for you? Ever since it was introduced in 2010, the Plan N Medicare Supplement has been a favorite recommendation of mine. Unfortunately, when shopping, most people don’t even consider it. They tend to gravitate towards the more popular Plan F because of it’s seemingly more comprehensive coverage.