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Which is Better Medigap Plan F or Plan G

Which is better Medigap Plan F or Plan G

If you compare Medicare Plan F vs Plan G, you can quickly see why these are the two most popular Medicare Supplement plans among beneficiaries today. If you’re like most people, you want your plan to cover as many of your healthcare expenses as possible.

Plan F pays the annual Medicare Part B Deductible, while Plan G does not. The Part B deductible is $185 for 2019. With Plan F Medicare Supplement, you never pay anything out of pocket for doctors, hospitals, or any of the other services covered by Medicare insurance Parts A and B. The only payment you make is the monthly premium. Plan G Medicare Supplement, you must pay the Part B deductible out of your own pocket one time per the calendar year. After you’ve met the deductible, Plan G will cover all the out of pocket expenses, just like Plan F.

What Plan is Better, Plan F or G?

Most people can safely expect that as they age, they will spend at least the Part B deductible amount per year in doctor bills and other Part B costs.

With Plan F, complete coverage comes at a cost. Premiums are usually higher compared to the premiums for Plan G.

Over 50% of all active Medigap insurance plans are Plan F. However, Plan G is currently experiencing one of the largest increases in enrollment over the last few years.

If you expect to visit your doctor(s) 3-5 times each year, and the premium for Plan F is $30 a month more than the premium for Plan G ($30 x 12 =$360) + $185 Part B Deductible you will save $174 that year ($360-$185 =$175).

In Summary Plan G will normally save you around $360 if you don’ go to the Doctor that year, if you go 3-5 times each year your savings will go down to $175 that year.

Is Plan F going away?

Yes it is, not yet, you can still enroll in Plan F the remainder of 2019.

Why is Plan F being discontinued?

As a result of legislation passed by Congress in 2015, starting in 2020 Medicare Supplement (Medigap) insurers will no longer be allowed to offer plans that cover the Medicare Part B deductible – Plans F and C.

People currently on Plan F pay no copay for their Medicare-related doctor visits. No deductible either.  Lawmakers fear that this lack of cost-sharing results in people running to the doctor for minor issues that may not really require medical care. Plan F won’t be available only for new Medicare enrollees starting in 2020. People eligible for Medicare prior to 2020 will continue to have Plan C and F options in the future. Other popular Medigap plans like Plan G and Plan N will continue to be available for everyone in their current format. A New High-Deductible Plan G will be created and made available for both newly eligible and previously eligible applicants.

Should you change from your current Plan F to Plan G?

If Plan F feels best to you, then keep it. You’ll be grandfathered if you choose to keep that plan past 2020. As long as you are aware of the potential for rate increases with Plan F, then you are an informed buyer. If you would rather choose Plan G or Plan N that’s fine too. In fact, Plan G offers some great potential savings and gets great reviews. Like we mentioned above, Plan G is usually cheaper than plan F and only have to pay $185 for the Part B Deductible.

Moving to Plan G now will make the Medicare Plan F 2020 changes irrelevant to you.

You can use our online rate comparison tool to see rates in your Zip Code right now.

Can I change from my current Medicare Advantage plan to a Supplement Plan G or Plan F?

Yes, you can change from a Medicare Advantage plan to a Medigap plan at any time. However, GI rights would only apply if you changed within the first 12 months of enrolling into a Medicare Advantage plan.

Is there a difference in benefits between carriers when enrolling in Plan F vs Plan G?

All Medicare Supplement (Medigap) Plans are standardized. It says so on your Medicare & You book, Section 5 page 69 of the 2019 Medicare & You book. Regardless of the carrier you choose, the benefits are going to be the same. The only difference between the carriers is the rate they use to determine your premiums. The only difference between Company 1 Plan F vs Company 2 Plan F is the monthly premium.

Can I switch to plan G from plan F If I had plan F since 2014?

Just remember that in most states you will you have to answer health questions to do so. An underwriter will review your application and decide whether or not to approve it. If you have never switch Medicare Supplements (Medigap) plans before, you will need to answer questions like:

► List of all your medications

► Name of your Doctors and the last time you visited them and what was the outcome of each visit.

► When was the last time you were admitted to a Hospital for an emergency, operation, treatment, or other.

► Any Cancer, Heart Attack, Stroke, Diabetes, or other diseases?

Compare Rates for Medicare Supplement Plans F and G

It’s important to understand all your Medicare Supplement plan options to find the best plan for your individual needs. We are committed to helping you choose the Medigap policy that’s best for you. Your monthly Medicare Supplement premium depends on many factors, such as your zip code, age, and the company you choose for your Medicare Supplement insurance.

Selecting a company can be confusing, but there are two factors that can help you narrow down your decision. We recommend that you check the AM Best ratings for the companies you are comparing to ensure that the company has a positive standing, and then select the company that offers the lowest premium.

Since we work with Top Medicare insurance carriers, we can provide you with unbiased expert advice. Contact us and compare rates for all Medigap policies, including Plan F, G, N or other with top insurance companies.

We will answer your questions and help you get a policy that works for you. If you prefer, you can use our online Medicare Supplement (Medigap) rate comparison tool to see rates in your Zip Code right now.


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