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What Is the Average Cost of Medicare Supplement Insurance Plan F?

Christian Worstell by Christian Worstell    |    Published Oct 03, 2019    |    Reviewed by John Krahnert

Medicare Supplement Insurance (Medigap) Plan F offers the most benefits of any of the 10 standardized Medigap plans available in most states.

Some Medicare beneficiaries might assume that Plan F is also the most expensive, but an examination of the average cost of Medigap plans reveals otherwise.

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How much does it cost for Medigap Plan F?

The average premium for Medicare Supplement Insurance Plan F in 2018 was $169.14 per month, or $2,030 per year.1

The average cost of Plan F in 2018 was the fourth highest among the 10 Medigap plans used for analysis.

  • Plan M ($218.75), Plan A ($192.33) and Plan C ($189.88) all had higher average premiums than Plan F in 2018.
  • Plan J ($160.07) and Plan D ($157.33) had average monthly premiums that were slightly lower than Plan F in 2018. Medigap Plan J is no longer available for sale. If you bought Plan J before June 1, 2010, you may keep the plan.

Here is how the average cost of Plan F compared with that of other Medicare Supplement Insurance plans in 2018.

Plan Monthly Premium Annual Premium
A $192.33 $2,308
B $141.24 $1,695
C $189.88 $2,279
D $157.33 $1,888
F $169.14 $2,030
High deductible F $57.16 $686
G $122.78 $1,473
J $160.07 $1,921
K N/A N/A
L N/A N/A
M $218.75 $2,625
N $111.28 $1,335

The average cost of Medigap Plan F by age

Based on our analysis, Medicare Supplement Insurance Plan F premiums in 2018 were lowest were lowest for beneficiaries at age 64 ($146.55 per month) and highest for beneficiaries at age 82 ($236.53 per month).

Below is a chart that shows the average cost of Medicare Supplement Insurance Plan F by age.

Age in years Average monthly cost of Plan F Average annual cost of Plan F
64 $146.55 $1,759
65 $148.88 $1,787
66 $147.81 $1,774
67 $149.26 $1,791
68 $150.84 $1,810
69 $153.28 $1,839
70 $158.82 $1,906
71 $163.34 $1,960
72 $171.61 $2,059
73 $170.24 $2,043
74 $174.07 $2,089
75 $186.48 $2,238
76 $182.56 $2,191
77 $193.75 $2,325
78 $194.63 $2,336
79 $202.12 $2,425
80 $221.05 $2,653
81 $226.93 $2,723
82 $236.53 $2,838
83 $220.81 $2,650
84 $225.56 $2,707
85 $234.20 $2,810

It’s important to note that each type of Medigap plan offers a different combination of standardized benefits. Plans with fewer benefits may offer lower premiums.

Other factors such as age, gender, smoking status, health and where you live can also affect Medigap plan rates.

Medicare Supplement Insurance plan premiums could be more expensive for older beneficiaries for a few reasons, such as:

  • If you wait until after your Medigap Open Enrollment Period to sign up for a Medigap plan, insurance companies can charge you a higher premium based on your health.

    Your Medigap Open Enrollment Period (OEP) is a 6-month period that starts as soon as you are at least 65 years old and enrolled in Medicare Part B.

    During your Medigap OEP, Medicare Supplement Insurance companies cannot use medical underwriting to determine your Medigap plan costs.

  • There are three different age-related pricing models that Medicare Supplement Insurance companies use to determine their Medigap plan rates. Each type of cost model can affect the average price of a given plan.
    • Community-rated
      With community-rated Medigap plans, every member of the plan pays the same rate, regardless of age.

      For example, an 82-year-old who enrolls in a community-rated Plan G will pay the same Medigap premiums as a 68-year-old beneficiary who has the same Plan G in the same market.

    • Issue-age-rated
      With issue-age-rated Medigap plans, premiums are based on your age at the time you enrolled in the plan.

      You will typically pay less for an issue-age-rated plan if you enroll in the plan when you’re younger. Your premiums also won’t increase based on your age.

    • Attained-age-rate
      Attained-age-rated Medigap plans set their premiums based on your current age. As you age, your Medigap plan premiums will gradually increase each year.

Medigap premiums can increase over time due to inflation and other factors, regardless of the pricing model your insurance company uses.

The average cost of Medigap Plan F by state

Location is another factor that can affect the cost of a Medigap plan, as market competition and the local cost-of-living can affect Medigap premiums.

The chart below shows the average cost of Medicare Supplement Insurance Plan F by state in 2018.

State Monthly Cost
Alabama $156.12
Alaska $254.62
Arizona $181.66
Arkansas $163.40
California $193.61
Colorado $169.34
Connecticut $310.09
Delaware $241.28
Florida $213.23
Georgia $166.96
Hawaii $247.88
Idaho $166.18
Illinois $165.45
Indiana $173.25
Iowa $141.04
Kansas $156.08
Kentucky $160.85
Louisiana $181.44
Maine $222.58
Maryland $198.57
Massachusetts N/A
Michigan $161.46
Minnesota N/A
Mississippi $153.79
Missouri $200.72
Montana $178.50
Nebraska $180.99
Nevada $183.02
New Hampshire $206.88
New Jersey $204.64
New Mexico $142.26
New York $183.02
North Carolina $154.12
North Dakota $266.83
Ohio $158.62
Oklahoma $156.48
Oregon $205.22
Pennsylvania $165.40
Rhode Island N/A
South Carolina $150.36
South Dakota $188.23
Tennessee $167.49
Texas $167.98
Utah $153.42
Vermont N/A
Virginia $155.84
Washington $226.29
West Virginia $160.55
Wisconsin N/A
Wyoming $165.58

Are all Medicare Supplement Plan F plans the same?

Medicare Supplement Insurance Plan F is standardized by the federal government. This means that the 9 basic benefits of Plan F will be the same, no matter where you live or what Medicare Supplement Insurance company you buy it from.

Medicare Supplement Insurance is the only plan to provide coverage for each of the following 9 benefit areas.

  1. Medicare Part A coinsurance and hospital costs (100% coverage)
  2. Medicare Part B coinsurance and copayments (100% coverage)
  3. Medicare Part A deductible (100% coverage)
  4. Medicare Part A deductible (100% coverage)
  5. Medicare Part B excess charges (100% coverage)
  6. Medicare Part A hospice care coinsurance and copayments (100% coverage)
  7. Skilled nursing facility care coinsurance (100% coverage)
  8. First three pints of blood used for a transfusion (100% coverage)
  9. Foreign travel emergency care (100% coverage)

Standard-deductible Plan F vs. high-deductible Plan F

Medicare Supplement Insurance Plan F also offers a high-deductible option (and is the only Medigap plan to do so).

The high deductible Plan F comes with an annual deductible of $2,300 in 2019. This means you must spend $2,300 out of pocket on covered services before the plan coverage kicks in.

In exchange for the higher deductible, the average premium for high-deductible Plan F was just $57.16 per month in 2018 ($686 per year), as noted in the chart above.

Find Medigap Plan F in your area

The average cost of Medicare Supplement Insurance Plan F can differ based on plan selection, insurance carrier, location, pricing model and more.

Starting on January 1, 2020, Plan F will no longer be available to new Medicare beneficiaries. However, if you already have Medicare, you can still enroll in Plan F if it’s available in your area.

A licensed insurance agent can help you compare Medigap plan options available where you live so that you can find a plan that works for your health coverage and budget needs.

 

Compare Medigap plan costs in your area.

Find a plan

Or call 1-800-995-4219 to speak with a licensed insurance agent.

 

1 TZ Insurance Solutions LLC internal sales data, 2019. This data is based on the Medicare Supplement Insurance policies TZ Insurance Solutions LLC has sold. It is not a comprehensive national average of all available Medicare Supplement Insurance plan premiums.

2 AHIP. State of Medigap 2018 Trends in Enrollment and Demographics. (June, 2018). Retrieved from www.ahip.org/wp-content/uploads/2018/06/State_of_Medigap18_FINAL.pdf.


 

Christian Worstell is a health care and policy writer for MedicareSupplement.com. He has written hundreds of articles helping people better understand their Medicare coverage options.

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