Medicare Supplement Plan F – Humana (2024)

FAQs

Why is Plan F being discontinued? ›

Why is Medicare Plan F no longer an option for most people? In short, Medicare Plan F is being phased out because of the first dollar coverage that made it so popular. As federal lawmakers saw it, that kind of coverage has the potential to be overused at the expense of the Medicare program.

According to Medicare.gov, Plan F covers: Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up. Part A deductible.

Humana received a 74% from the American Customer Satisfaction Index in 2021 and has an A+ rating and accreditation from the Better Business Bureau. “In 2021, Humana's Medicare Supplement medical loss ratio was 80%,” says Roth, which means 80% of Humana's premiums were paid out in medical claims.

As of 2024, Medicare Plan F is no longer available for new enrollees. However, if you were eligible for Medicare before January 1, 2020, you can still enroll in or keep your existing Medicare Plan F coverage. To be eligible, individuals must be enrolled in both Medicare Part A and Part B.

Plan F covers the most benefits compared to all other Medicare Supplement Insurance plans. Depending on the state where you live, you could get 6% off your monthly premium if you enroll online. (Discount not available in CA, CT, OH and PA.)

It was phased out at the start of 2020. Medigap Plan F is no longer offered as a new policy to those eligible for Medicare after January 1, 2020. However, if you're already enrolled in Plan F or were eligible for Medicare before 2020, you still have access to Plan F. You are grandfathered in.

The average premium for Medicare Supplement Insurance Plan F in 2023 was roughly $186.49 per month, or $2,237.88 per year. 41% of Medicare Supplement beneficiaries have Plan F. Here is how the average estimated premiums of Plan F compared with that of other Medicare Supplement Insurance plans in 2023.

Plan F, Plan G and Plan N are the most popular types of Medicare Supplement plans. Medicare Supplement Plan F is the most comprehensive Medigap option available, providing beneficiaries with 100% coverage of Medicare-covered medical expenses after Original Medicare pays its portion.

Medicare Supplement Insurance Plan F offers the most coverage out of Plans F, G, and N and more coverage than any other Medicare Supplement insurance plan. Plan F usually covers all of what Plan N and G cover plus 100% of the Medicare Part B deductible.

Who is the largest medicare supplement provider? ›

Who is the largest Medicare Supplement provider in the United States? UnitedHealthcare is the largest Medicare insurance provider in the nation. Their product offerings include Medigap coverage, Medicare Part D prescription drug plans, and Medicare Advantage plans.

The 2024 Part A deductible is $1,632 for each inpatient hospital benefit period before Original Medicare starts to pay. The 2024 Part B annual deductible is $240 before Original Medicare starts to pay. You pay this deductible once each year.

You can keep your plan as long as you want. However, if you become eligible for Medicare after January 1, 2020, you can't purchase a Plan F. Your new go-to plan is Plan G. So, Plan F is being phased out, but clients often ask us, "why?"

No plan completely replaces Medicare Part F, but the closest available is Medicare Supplement Plan G. Like Plan F, Plan G covers 100% of many benefits, including: Part A coinsurance and hospital costs. Part B copays/coinsurance (not deductibles)

Medicare Supplement plans, such as Plan F, do not include coverage for routine dental care. They are designed to cover out-of-pocket expenses for Original Medicare. Plan F covers all cost-sharing services for Plan A and Plan B.

If you turned 65 on or after January 1, 2020: Plans C & F aren't available. You might be able to get Plans C & F if you were eligible for Medicare before then, but hadn't signed up. If you were new to Medicare on or after January 1, 2020: You have the right to buy Plans D & G instead of Plans C & F.

null. This plan has been saved to your guest profile. This will help you keep track of plans and get cost estimates based on your drugs and doctors. Plan F is only available to those first eligible for Medicare before 2020.

How Should You Choose Between Plan F or Plan G? It is a pretty straight-forward mathematical calculation. If the premium savings on 'G' are greater than the deductible amount, then 'G' makes more sense than 'F'. Often, the premium differences between these two plans are $300/year or more.

You only need one policy, and it is illegal for an insurer to sell you more than one. By law, companies can only offer 10 standardized Medigap policies, known as plans A-N. (These plans are labeled A, B, C, D, F, G, K, L, M and N. Previous plans labeled E, H, I and J are no longer sold.