With no new Medigap Plan Fs available after 2020, we are constantly asked if Medicare Supplement F or G is the right way to go. 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 we do know. It may require a little math but don’t worry, we will help you calculate which is the better deal.
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 $185. So Medigap Plan F pays the $185 while Plan G does not. The big difference is the price
Click to see our Plan F and Plan G Prices
Medigap Plan G Vs F Benefit Details
Below is a chart we put together 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 $1,364*||You pay $0||You pay $0|
|Hospital days Coinsurance||You pay $335 per day for days 61-90, $670 per day for 60 lifetime reserve days||You pay $0||You pay $0|
|Skilled Nursing Facility Coinsurance||You pay $170.50 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 $185||You pay $185||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%***|
|More Info||Learn More about Original Medicare||Learn More about Plan G||Learn More about Plan F|
Get quote: Click here to see prices for Plan G and F
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 $185 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.
- Anyone who is applying during a Medigap Special Enrollment Period (SEP). Plan F has guaranteed issuance during SEP whereas Plan G does not.
Who Should Choose Medigap G?
Everyone consider enrolling in Medicare Supplement Insurance who does not fall under the three bullets above should consider Plan G. Basically if you can find a Plan G’s that will save you more than $185 a year over the best priced Plan F plan, Plan G might be right for you. These days that is not hard to find. Often times 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 $185 the plan requires. See we told you we would help you with the math!
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.
Get Instant Plan F and Plan G Prices
If you need assistance or are ready to enroll, give us a call.
What About Plan F Going Away?
First of all, Plan F is not going away. Anyone who is Medicare eligible before 2020 can purchase it at any time in the future and those currently on it, will be able to stay on it in perpetuity.
There has been a lot of speculation that F will go up in price after 2020 as those younger members who are new to medicare will not be able to join it. While there is some logic to this thinking, no one knows for sure what will happen. F is the most popular Medigap plan and has the most active members by far, so it is doubtful that prices will skyrocket overnight.
The team here at Senior65 is the first to admit that we have no idea what future F (or G) prices will look like. We don’t like to engage in wild speculation. If you are worried about future prices of F, the good news is that there is probably a G plan that is a better deal right now to purchase. Check out the prices and then give us a call.
Here is the fine print details for the chart above. If you have questions, please 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 ($1,364).
***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.
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