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Valued Social Butterfly

Re: Plan F

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Message 1 of 7

@ReTiReD51

 

Closest thing I could find which is considered credible

 

PBS - March 2017 - What to expect from the major changes coming to popular Medigap plans

 

I will try to search through MedPac when I get to my big computer with better searches.

 

My Mom's premiums seemed to rise higher than just inflation.  Her plan was already aged and I believe it was a combination of factors including inflation but also the number of people who dropped the plan and went somewhere else and those that were passing away thereby still reducing the number of beneficiaries in the plan.

 

With Plan F and C being so popular per the article, it will just depend on how many decide not to take the plans at 65 until 2020 and the number which might leave the plans for another.  

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Recognized Social Butterfly

Re: Plan F

1,088 Views
Message 2 of 7

@GailL1

 

My tutors point to plan J as well as a couple of other letter plans no longer sold but people still have and pay premiums on. They maintain that these plans have increased their premiums due to inflation at the same rate as the current letter plans.

 

Plan J included the “at home recovery” and “preventative care” benefit. Could plan J have raised premiums beyond the inflation rate due to the increased cost of these two benefits that plan F didn’t have?

 

I think that’s why everyone I’ve talked to tells me to use caution and not suggest premiums will rise because plan F will no longer be offered. Unless the Medicare part B deductible (the difference between plan F and G) rises steeply, annual premium increases due to inflation could be enough to sustain the plan. Time will tell.

 

I always appreciate and respect your knowledge and accuracy about Medicare. You take a backseat to no one on these boards.

 

From my research I have never found a credible source who can say with certainty what plan F premiums will do other than the normal inflationary price increase after 2020. That’s why my challenge to show me a link that says differently or be cautious in suggesting prices will increase.

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Valued Social Butterfly

Re: Plan F

1,095 Views
Message 3 of 7

gbzhouse wrote:

I have been told that Plan F will no longer be available when I sign up for Medicare.  I will be 65 in 2018.  I want to be able to get Plan F in place before I sign up. Is that a possibility?


See page 81 of "Medicare and You, 2018." You cannot sign up for a Medigap plan until you first have Medicare Parts A and B if that is your question. Also double check on the timing of when Plan F is no longer available (or if they even implement the new law that way--they might keep the designation F but just change the template).

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Valued Social Butterfly

Re: Plan F

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Message 4 of 7

@ReTiReD51

 

This old but it perfectly describes what happened to Plan J when it was discontinued from being sold in 2010.

 

GoMedigap blog - (from 2014) - Plan J vs Plan F - should I switch ?

 

The reason I know is that my mother had Plan J and it also had some prescription drug coverage in her plan so she kept it.  Plus at her age and health, the premiums would have been higher than what she was paying for Plan J since she had had it since 1987.

 

Premiums stayed about the same until about 2012 or so and then they did escalate - from about $ 200 per month to $ 350 per month in the last year of her life in 2015.

 

 

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Recognized Social Butterfly

Re: Plan F

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Message 5 of 7

MelissaKay wrote:

From what I understand, Plan F will still be available to purchase until 2020, but the rates will increase at a higher rate than the other plans. Those who already have it will be grandfathered in. Medicare beneficiaries that are newly eligible are being recommended Plan G instead. It's supposed to have a lower premium than Plan F. The only difference is it doesn't cover your Medicare Part B deducitbile, which is $147 for 2017. You can compare Medicare Supplement Plans F and G here.


@MelissaKay 

Please provide a link that actually states that Plan F rates “will increase” at a higher rate than the other lettered plans after 2020.

 

Not a link that says probably increase, or might increase but one that states “will increase” like you stated.

 

I have asked folks at both the federal and state level who are paid professionals and know all facets of the Medicare system if the premiums will rise faster for Plan F after 2020 than for other lettered plans. They have all said not necessarily and caution against telling a Medicare recipient that premiums will rise faster. I’ve even talked to insurance salespeople who are cautious to say that plan f premiums will rise faster than other letter plans.

 

Other than people assuming they will rise, No one can say for certain that they will rise.

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Bronze Conversationalist

Re: Plan F

1,186 Views
Message 6 of 7

From what I understand, Plan F will still be available to purchase until 2020, but the rates will increase at a higher rate than the other plans. Those who already have it will be grandfathered in. Medicare beneficiaries that are newly eligible are being recommended Plan G instead. It's supposed to have a lower premium than Plan F. The only difference is it doesn't cover your Medicare Part B deducitbile, which is $147 for 2017. You can compare Medicare Supplement Plans F and G here.

Melissa Kay
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Info Seeker

Plan F

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Message 7 of 7

I have been told that Plan F will no longer be available when I sign up for Medicare.  I will be 65 in 2018.  I want to be able to get Plan F in place before I sign up. Is that a possibility?

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