Medicare Supplement Plans G and F are the front-runners for most Medicare-eligible persons. Why is this when there are other plans that cover similar benefits but may cost less? There’s one main reason, and that’s excess charges.
What are Part B Excess Charges?
Excess Charges are charges that can be accrued when you see a provider who does not accept assignment. You can be charged up to 15% more than the approved Medicare cost.
Only Plan F and G cover excess charges.
Why Choose Medigap Plan F or G?
Excess charges. Okay, we know we sound like a broken record, but those costs can really add up. But, of course, these plans cover much more than just excess charges. Plan F covers all the benefits offered by Medigap, and Plan G covers all but one benefit -the Part B deductible. But to understand why excess charge coverage is so important here are two examples:
- 1) Some facilities and doctors don’t accept assignment. If this is the best care available, you don’t want to worry about extra costs when you’re worried about your health.
- 2) If you’re hospitalized, you many times do not have a choice on the doctor you see, and that doctor may not accept assignment.
Other Plans are cheaper than F and G. Why not Those?
We are not saying that in some cases other plans might fit more into your monthly budget better than Plan F or G, but with the nickel and diming that can happen from copays, coinsurance, excess charges, and deductibles, you can end up shelling out a lot more than you planned each year. You can compare Medigap plans side by side to see their coverage, to get a further understanding of each plan.
For further questions please call 800-930-7956.
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