Medigap Plan F - Simply the Best! Better than All the Rest

Have you heard the late Tina Turner's song entitled, "The Best" with the lyrics "Simply the best, better than all the rest"? We love that song. These lyrics are a great description of Medigap Plan F. It is better than all the other Medigap Plans. Why? It has 100 percent coverage for the following:

• Medicare Part A coinsurance and hospital costs

• Medicare Part B coinsurance or copayment

• Blood (first 3 pints)

• Part A hospice care coinsurance or copayment

• Skilled nursing facility care coinsurance

• Part A deductible

• Part B deductible

• Part B excess charge; and,

• 80% percent coverage for Foreign travel emergency (up to plan limits)

Plan F was considered the best plan available by most Medicare enrollees. Unfortunately, "Medigap Plan F is no longer available for adults who turned 65 on or after Jan. 1, 2020. However, you may still be able to enroll in Plan F if it’s available in your state and ZIP code and you meet one of the following criteria:

• You turned 65 before Jan. 1, 2020

• You’re under the age of 65 and enrolled in Medicare Part A prior to Jan. 1, 2020

Additionally, if you had Medigap Plan F coverage prior to this January 2020 deadline, you can keep your plan." And people are keeping their Plan F coverage. See the data provided by AHIP (formerly called American Health Insurance Plans). In December 2021, there were 5,749,712 people enrolled in Medigap Plan F. In the state of Maryland, there were 112,995 enrollees and the state of North Carolina, there were 223,072 enrollees.

If you turned 65 after January 1, 2020, you will need to select another option. If you want to select a similar Plan, Plan G would probably be your best option. We will discuss Plan G briefly in our next post.

To help you select the best Plan option, we recommend that you do business with an Insurance Agent that has great leadership qualities. Here are some leadership qualities that we recommend that you look for in your Insurance Agent--these principals are reflected in a book entitled "Leadership with a Servant's Heart" by Kevin Wayne Johnson. Mr. Johnson stated that these principals were provided by his Economics 301 professor, Dr. George Coffer. Along with the list of leadership qualities by Dr. Coffer, see Benefits-4-Retirees highlighted remarks below.

1. Make sure that all can see that you thoroughly enjoy your work. [We are passionate about providing quality insurance products to our clients.]

2. Work hard to simiplify what appears to be complex (until you become familiar with the content) [We understand that Medicare and Medigap Plans and other insurance products such as life insurance and short-term care can be difficult to navigate or understand. We are here to simplify the process.]

3. It's okay to laugh at yourself. [In addition, we believe that a sense of humor is a great quality to have to ease stress in making big decisions.]

4. Have a real concern for others. Our fulfillment comes from our service toward others. [This is exactly how we feel when we provide quality service to you!!!]

"You can get everything in life you want if you will help other people get what they want." Zig Zaglar (1926 - 2012), World Renowned Motivational Speaker

Resources:

1. 2023 Choosing a Medigap Policy

2. Medicare Plan F: What is it and How does it work?

3. The State of Medicare Supplemental Coverage

4. Johnson, Kevin Wayne. Leadership with a Servant's Heart. First edition, Writing for the Lord Ministries. 2019