When Plan F is phased out in 2020, what happens to people who already have Medigap Plan F?
If you have Plan F, you can keep Plan F
While Plan F is being cancelled in 2020, there will be no impact on people who already have Plan F. Your Plan F will remain in force as long as you keep paying premiums. The new law only impacts the availability of Plan F to newly-eligible Medicare beneficiaries.
Does it make sense to switch from Plan F?
Even though you'll be able to keep your Plan F, should you? Plan F is the most comprehensive Medigap plan. If you have Plan F, you certainly know the comfort of having no out-of-pocket costs for your healthcare.
That said, it might make sense to look into switching to Plan G for a few reasons. For starters, Plan G is nearly as complete as Plan F. The only difference is that you'll have to pay your Part B deductible if you have Plan G. In 2019, the Part B deductible is $185.
We've noticed Plan F premium rates are growing at a quicker pace than premiums for Plan G and experts expect the Plan F premiums to increase even more when it's removed as an option for newly-eligible beneficiaries.
It makes sense to get a Plan G quote and see whether your premium savings surpass the Part B deductible. In most cases you can save significant money by switching to Plan G.