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The Medicare supplement Plan F, I hear it will not be offered after 2020. Should I stay with this plan or change to another plan?

Great question! Some background for you. A provision in a 2015 law will disallow newly sold F Medicare supplement plans from repaying the Part B deductible starting in 2020. Currently, that deductible is $183 which the insurance company pays for you in Plan F. These policies may or may not still be sold. People who already have plans offering the Part B deductible repayments will be able to renew them and retain that provision.

But, there are two concerns with Plan F after 2020. We do not know how the new plan is going to be reconfigured. Will it have different deductibles, co-insurance payments or will it even exist after 2020? We just do not know at the present.

The second concern is that you must answer health questions when you change from one Medicare supplement plan to another. If you have any major health problems, you may not be able to change to another plan. You must stay with the “old” Plan F.

I have been recommending Plan G to everyone that can qualify for the coverage. It has the $183 deductible plus once you have met the deductible like Plan F it pays 100% of Medicare approved expenses. In addition, the monthly premium runs between 15 to 30% less than Plan F.

The premium difference is based on which zip code you live in. The premium on Plan G tends to increase at a lower rate over the years than Plan F. Also, there is concern that these plans will not draw very many new customers once the plans no longer cover the Part B deductible.

If this happens, the pool of people with Plan F will become smaller and older, and this will raise the odds that insurers will raise the premiums on remaining policyholders. For this reason, I am advising people to shop around and see if there are more acceptable Medicare supplement plans they would consider buying instead of Plan F.

What’s next? Well, get back in touch with me so we can go over those options that are available in your area. Why? Because – they are different in every zip code in America.