Medicare Supplement Plan F - Why So Popular?

By Author: Tyra Phillips
Total Articles: 78
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As an insurance broker, one of the questions I get asked almost every day is "What plan does everyone else buy?" or "What plan is the most popular?".  This is a very good question as the most popular plan is often the best plan, and if everyone else is buying it, then why shouldn't you!  Fortunately, in this case, the most popular Medicare Supplement Plan is also the most comprehensive and best plan available to seniors over the age of 65.

The reason Medicare Supplement Plan F is the most popular plan is because it is the most comprehensive and offers the most complete benefit package.  This plan not only covers both the Part A and Part B deductibles, but also covers the 20% co-insurance Medicare does not pay and "Part B excess charges".  Altogether, this is the best plan money can buy, and it isn't much more expensive than the lesser plans.  Most people notice they actually have lower out-of-pocket expenses when they purchase Medicare Supplement Plan F because they rarely pay for any medical services. 

In addition to being the most comprehensive Medicare Supplemental Plan, this option is offered ...
... by nearly every insurance company.  This means that prices for Plan F are often very low as companies will compete with each other for your business.  You will also be able to choose a quality insurance company with a good history of providing great customer service.   Shopping all insurance companies to make sure you receive the best price is the easiest way to ensure you purchase the best plan available. 

Just because Medicare Supplement Plan F is the most popular plan doesn't mean you have to jump on the bandwagon.  There are several other good plans available, many of which are more affordable on a monthly basis.  For example Medicare Supplement Plan G is a very good plan and is often $10 to $30 per month cheaper than Plan F.  However, with Plan G you will have to pay the Medicare Part B deductible, which is $155 for 2010 and is subject to change in future years. Other popular plans include Plan N, and Plan C.  
Knowing which Medicare Supplement Plan you want to buy is only half the battle.  You also need to find the best company from which to purchase.  Medicare Supplement Plan F is standardized by the Center for Medicare Services, which means every company must offer the same exact plan and they cannot change any of the benefits.  Since the benefits are the exact same regardless of which company is offering you the plan, the most important factor when choosing your company is price.  Often times, the company with the lowest price will and should win your business.  

Fishing for the perfect Medicare Supplement Plan in the sea of health insurance options can be quite challenging, especially if you are just turning 65 or are eligible for Medicare for the first time. Medicare Supplement Plan F is hands down the most popular and best option available.  However, getting advice from a knowledgeable expert who specializes in Medicare Supplemental Insurance can shed some light on other important factors including customer service and financial stability.  Keep in mind that when shopping for the perfect plan, purchasing the most popular plan is often a great decision.