Top Plan F Add-ons

Important Note About Plan F Availability

Medicare Plan F is no longer available to new Medicare beneficiaries as of January 1, 2020. If you already have Plan F, you can keep it.

This guide is for existing Plan F holders looking to enhance their coverage with additional benefits.

Why Consider Add-ons to Plan F?

Plan F covers most Medicare gaps, but it doesn't address everything. Add-on coverage can fill remaining holes in your healthcare protection.

Since you already have comprehensive coverage, focus on benefits that Plan F and Medicare don't provide.

Top Add-on Options for Plan F Holders

1. Dental Insurance

Medicare and Plan F don't cover routine dental care. This is often the biggest gap for seniors.

What Dental Plans Cover

• Preventive care: cleanings, exams, X-rays
• Basic services: fillings, extractions
• Major services: crowns, bridges, dentures

Typical Costs

Monthly premiums: $25-$60. Annual maximums usually range from $1,000-$2,500.

2. Vision Coverage

Plan F covers eye exams related to medical conditions but not routine vision care.

Vision Benefits Include

• Annual eye exams
• Eyeglass frames and lenses
• Contact lenses
• Discounts on vision correction surgery

Typical Costs

Monthly premiums: $15-$30. Usually includes annual allowances for frames and lenses.

3. Hearing Aid Coverage

Medicare covers hearing tests but not hearing aids. Quality hearing aids can cost $2,000-$6,000 per pair.

Hearing Aid Benefits

• Coverage for digital hearing aids
• Hearing evaluations
• Fitting and adjustment services
• Batteries and accessories

4. Long-Term Care Insurance

Plan F doesn't cover long-term care costs. This is potentially the largest financial risk for seniors.

Long-Term Care Options

• Traditional long-term care insurance
• Hybrid life insurance with LTC benefits
• Annuities with care riders

Cost Considerations

Premiums vary widely based on age, health, and benefits. Expect $2,000-$5,000+ annually for meaningful coverage.

5. Cancer Insurance

While Plan F covers cancer treatment costs, it doesn't address income loss or non-medical expenses.

Cancer Insurance Benefits

• Lump sum cash payment upon diagnosis
• Transportation and lodging benefits
• Income replacement during treatment
• Experimental treatment coverage

Lower Priority Add-ons for Plan F

Hospital Indemnity Plans

Since Plan F already covers Medicare gaps, hospital indemnity provides limited additional value.

Consider only if you want extra cash for non-medical expenses during hospital stays.

Critical Illness Insurance

Plan F covers medical costs for critical illnesses. These plans mainly help with income replacement.

Accident Insurance

Plan F covers accident-related medical costs. Accident insurance might provide some cash benefits but isn't usually necessary.

How to Prioritize Add-on Coverage

Step 1: Assess Your Current Gaps

Look at expenses not covered by Medicare and Plan F:

• How much do you spend on dental care annually?
• Do you need glasses or contacts?
• Have you experienced hearing loss?
• What's your long-term care plan?

Step 2: Calculate Return on Investment

Compare annual premiums to potential benefits. If you pay $400/year for dental coverage with a $1,500 maximum, you need $400+ in dental expenses to break even.

Step 3: Consider Your Budget

Add-on premiums can quickly add up. Prioritize coverage for expenses you can't easily handle out-of-pocket.

Bundling vs Individual Policies

Advantages of Bundling

• Potential premium discounts
• Single bill and customer service contact
• Simplified claims processes

Advantages of Individual Policies

• Shop for best value in each category
• Flexibility to change individual coverages
• Avoid paying for benefits you don't need

Special Considerations for Plan F Holders

You're Already Well-Covered

Plan F provides excellent medical coverage. Focus add-ons on non-medical benefits rather than additional medical insurance.

Consider Future Availability

Since Plan F is no longer available to new Medicare beneficiaries, hold onto your coverage. It may become more valuable over time.

Budget for Premium Increases

Plan F premiums will likely increase over time. Make sure you can afford both Plan F and any add-ons long-term.

Enrollment Timing and Rules

Dental and Vision

Usually available year-round with immediate or short waiting periods.

Long-Term Care

Requires medical underwriting. Apply while you're healthy.

Cancer and Critical Illness

Often have waiting periods and health questions. Earlier enrollment is better.

Key advice: As a Plan F holder, you have excellent medical coverage. Focus add-ons on services Medicare doesn't cover rather than duplicating existing benefits.

Making Smart Add-on Decisions

Don't feel pressured to buy every available add-on. Plan F already provides comprehensive medical coverage.

Focus on the 1-2 add-ons that address your biggest gaps or concerns. Dental coverage is often the highest priority since it's expensive and commonly needed.

Remember that you can always add more coverage later, but it's harder to reduce coverage you don't need.

The Bottom Line for Plan F Holders

Your Plan F coverage handles most medical expenses well. Smart add-ons focus on services Medicare excludes entirely.

Dental coverage should be your top priority, followed by vision if you wear glasses. Long-term care coverage is important but expensive.

Avoid add-ons that duplicate your existing excellent medical coverage. Instead, focus on areas where you have genuine gaps in protection.