Why Is Medicare Supplement Plan F the Most Popular Plan?

Posted in Medicare Supplement

Medicare recipients looking for additional coverage above and beyond Original Medicare often turn to Medicare Supplement Plan F.

Why? Probably because it’s the most comprehensive. That means it offers a broad selection of benefits that supplement, or add to your Medicare Part A and Part B. Plan F offers “first dollar coverage”, meaning after Medicare pays its share of your claim, your Part F plan pays everything that remains. With zero out-of-pocket, you can get the care you deserve when you need it most.

Private Insurers in Colorado are Not Required to Offer Plan F, But Most Do

There are 10 Medicare Supplement plans available in Colorado, identified by different letters of the alphabet. Private insurance companies are not required to offer all 10 plans, and many don’t. However, there are rules around what each company must make available.

For instance, any company who chooses to sell Medicare Supplement insurance in Colorado must offer at least Plan A. If they want to sell more than Plan A, then they must offer Plan C or Plan F too. Because of its popularity, most insurance companies make Plan F available to their customers. Note: availability differs by location. Be sure to use your zip code to find specific coverage in your area.

The good news is, plans are guaranteed renewable in Colorado. Your coverage can never be canceled due to your health, or because of how much you use your policy. And, you can choose your own doctor, and never need a referral to see a specialist.

Provides Comprehensive Benefits, But Some Costs Remain

Plan F in Colorado  pays for all of the gaps in Medicare Part A and Part B, including your hospital and outpatient deductible. Seniors enjoy peace of mind and confidence in knowing that when they need medical attention, they can get it, no questions asked and no out-of-pocket costs to see the doctor.

However, even with comprehensive benefits, there are some costs that you will be responsible for. Monthly premiums for Plan F vary, and it’s important to compare a few different providers to secure a rate that works best for you.

If you are looking to pay a lower premium, a high deductible Plan F is available. However, while your monthly premium may be less, you will be required to pay the first $2,370 of deductibles, copayments, and coinsurance not paid by Medicare before your Plan F pays.

Finally, Medicare Part A is free for most people, but Part B is not. You should expect to pay your Part B premium each month in addition to your premium for Plan F.

Standardized Coverage in Colorado

Medicare Supplement plans are standardized in Colorado, meaning it doesn’t matter where you live or which company you buy from, you get the exact same benefits in Plan F as someone else. While coverage is the same across the state, prices are not. There are often differences between companies, even as the benefits are the same. 

Every Medicare Supplement Plan F in Colorado includes the following benefits:

  1. Medicare Part A hospital & coinsurance costs (up to an additional 356 days after Medicare benefits are used up).
  2. Medicare Part B coinsurance or copayment.
  3. Medicare Part A hospice care copayment or coinsurance.
  4. Medicare Part B excess charges.
  5. Medicare Part A deductible.
  6. Medicare Part B deductible.
  7. First three pints of blood used in an approved medical procedure.
  8. Skilled nursing facility coinsurance.
  9. Foreign travel emergency coverage (up to plan limits).

Note: Medicare Supplement Plan F is being discontinued in 2020. Seniors who purchase Plan F prior to this date will be allowed to keep their plans, with no changes in coverage or benefits.

Get your Free Quote on Medicare Supplement Plan F by clicking below and review multiple carriers in your local area.


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