High Deductible Plan F offers the same level of coverage as standard Medicare Supplement Plan F, except that you must pay your deductible first. This is the amount you are required to pay in out-of-pocket expenses before your Medicare Supplement plan begins its coverage. The plan is only available for those who first became eligible for Medicare before January 1, 2020. If you did not become eligible for Medicare before this date, this high deductible plan and its standard counterpart will not be available to you.
However, if you were already enrolled in this plan before January 1, 2020, you can still stay enrolled.
Explore Medigap OptionsHow High-Deductible Plan F Works
High Deductible Plan F is slightly different than other Medigap plans. When it comes to High Deductible Plan F, Medicare pays its share first. Then, you are required to pay the $2,950 deductible (as of 2026). Once it is paid, High Deductible Plan F works just like the standard Medicare Supplement Plan F. It'll cover 100 percent of your share on all Medicare Part A and B services.
High-Deductible Plan F Coverage Details
When it comes to benefits, High Deductible Plan F provides the same coverage as the regular Medicare Supplement Plan F once you meet the required annual deductible. The coverage provided by the High Deductible Plan F includes:
- Medicare Part A deductible
- Part A hospice care copayment or coinsurance
- Medicare Part A hospital costs and coinsurance
- Medicare Part B copayment or coinsurance
- Medicare Part B excess charges
- Medicare Part B deductible
- First three pints of blood
- Coinsurance for skilled nursing facility
- 80 percent of foreign travel emergency costs
Benefits of High-Deductible Plan F
High Deductible Plan F usually has lower premiums than standard Medigap plans because of its high deductible cost-sharing. For those who do not foresee a lot of medical expenses for the upcoming year, reducing their monthly premium with a High Deductible Plan F policy can be a solid choice. Plan F and its high deductible option provide comprehensive coverage available in a Medicare Supplement. If you are looking for extensive coverage and have retirement savings to cover the deductible, this might be a plan to consider.
However, understanding the amount of coverage you need is beneficial in determining which supplement plan fits your needs most. If you cannot afford the deductible and out-of-pocket costs, you could end up in medical debt, making it even more difficult to pay your bills.
Exploring High-Deductible Plan F Options
While a high-deductible policy is not appropriate for everyone, the advisors at Simple Retirement Benefits can help you review your medical needs and retirement budget. We are contracted with many Medigap insurers in multiple states and can provide rates over the phone. Contact us today to explore your options.