With no new Medigap Plan Fs available after 2020 for most people, whether to get Medicare Supplement F or G is one of the biggest questions. Our clients also want to know if Plan F will increase in price after 2020. While no one can answer the second question with certainty, we can help guide you to a smart decision with the information available.
What is the difference between Plan F and G?
This part is easy to answer because there is only one benefit difference between Medigap plan G and F. Plan F covers the Medicare Part B deductible and Plan G doesn’t.
The Part B deductible is a one time deductible you must play each year when you see the doctor for non-preventive visits. The current part B deductible cost is $198. This means Medigap Plan F pays the $198 while Plan G does not. The other difference is price, and it is a considerable one.
Medigap Plan G Vs F Benefit Details
We put together a chart with the main benefits covered by Medicare Supplement Plans G and F. As you will see, they mirror each other in all benefits except for how they handle the Part B deductible cost. Check it out then meet us at the bottom for our recommendations.
|Benefits||Original Medicare Alone||Original Medicare With Medigap Plan G||Original Medicare With Medigap Plan F|
|Doctor Network||All Doctors that accept Medicare||All Doctors that accept Medicare||All Doctors that accept Medicare|
|Part A Hospital Benefit Period Deductible||You pay $1,408*||You pay $0||You pay $0|
|Hospital days Coinsurance||You pay $352 per day for days 61-90, $704 per day for 60 lifetime reserve days||You pay $0||You pay $0|
|Skilled Nursing Facility Coinsurance||You pay $176 per day from Day 21-100||You pay $0||You pay $0|
|First 3 Pints of Blood||You pay 100%||You pay $0||You pay $0|
|Part B Annual Deductible||You pay $198||You pay $198||You pay $0|
|Part B Copays/Coinsurance||You pay 20% (Part B deductible applies)||You pay $0 after Part B deductible||You pay $0|
|Part B Excess Charges||You pay 100% (Part B deductible applies)||You pay $0 after Part B deductible||You pay $0|
|Foreign Travel Emergency||You pay 100%||You pay 20%***||You pay 20%***|
Who Should Choose Medigap F?
Everyone looking into Medigap policies should consider Plan F since it offers the most benefits. But who should pick F over G?
- Anyone who can find a Medigap Plan F with an annual premium that is not $198 more than Plan G’s annual premium. So if the best priced F is only $100 more a year than the best priced G then it’s probably a good deal.
- Anyone who lives in a state such as CA, MO, NY and OR that allows you to switch plans without medical review. Going with a Plan F will almost always give you more options than G should you want to switch in the future.
Who Should Choose Medigap G?
Everyone considering enrolling in a Medicare Supplement Insurance who does not fall under the two bullets above should consider Plan G. Basically if you can find a Plan G that will save you more than $198 a year over the best priced Plan F plan, Plan G is right for you.
That is usually not hard to find. Often Plan G can save you $30 or more a month. That would mean you would save $360 a year ($30 x 12), which would more than pay for the $198 the plan requires. Plan G is priced so well that we currently help 4 people enroll in G plan for every 1 F plan.
Compare prices for yourself. If you need assistance or are ready to enroll, give us a call.
*Medicare Part A deductible is broken down into 60 day benefit periods. You have to pay the deductible if you reenter the hospital after 60 days from discharge. Example: If you enter the hospital March 1st you’ll pay the Part A deductible. If you leave the hospital 5 days later and return to the hospital on July 6th, you will be charged the Part A hospitalization benefit again.
**For Skilled Nursing you must have a 3-day qualifying stay in the hospital to qualify for Skilled Nursing Facility care AND you’ll still pay the benefit period Part A deductible ($1,408).
***Foreign Travel Emergency requires a deductible of $250. You will have to have your emergency within the first 60 days of travel, and the plan has a lifetime coverage amount of $50,000.