Medicare News
Compare Medicare Supplement Plans F and G

We Will Call You

Fill out some basic information and one of our Licensed Sales Agents/Producers will contact you.

Compare Medicare Supplement Plans F and G

Wednesday, December 27, 2017 12:04 PM

 Medicare Supplement Plan F or G

Are you weighing your Medicare options? Get help paying the costs that Original Medicare doesn’t cover by purchasing a supplemental insurance plan, called Medicare Supplement or Medigap, through a private insurer. Medicare Supplement Plans F and G are two of the most popular plans out of the 10 standardized Medigap plans (A, B, C, D, F, G, K, L, M, and N), and while they can help offer some Medicare beneficiaries peace of mind, they may not be right for everyone. Learn the subtle difference between the two plans and understand the factors to consider when choosing the right Medicare coverage for your needs.

What does Medicare Supplement Plans F and G cover?

Medicare Supplement Plans F and G are the only Medigap insurance plans that cover 100% of Medicare Part B “excess charges,” which are the costs a doctor can charge for a service or procedure, if they don’t accept assignment. Therefore, these plans will help protect you from additional out-of-pocket expenses should you need treatment that exceeds what Medicare will approve. In addition to excess charges, Medicare Supplement Plans F and G also cover:

  • Hospital costs: Part A coinsurance and hospital costs for 365 additional days after Medicare benefits are used up as well as coinsurance or copayments for hospice care.
  • Medical costs: Part B coinsurance or copayments which is generally 20% of the Medicare-approved amount for hospital outpatient services.
  • Blood: The first three pints of blood annually.
  • Nursing: Skilled nursing facility care coinsurance.
  • Travel Abroad: 80% of foreign travel medical emergency costs.

What is the difference between Medicare Supplement Plans F & G?

Medicare Supplement Plans F and G are identical with the exception of one thing: Plan G does not cover the Part B deductible (the Part B deductible for 2018 is $183). This means that you will have to pay $183 annually before Plan G begins to cover anything. However, once the Part B deductible for Plan G is paid for, you essentially have Plan F.  

Why would someone choose Plan G? Plan G monthly premiums are typically much less expensive than the Plan F premiums – sometimes half the cost. Therefore, even though you will have to pay a deductible, you can save money overall if Plan G has a lower premium than Plan F. However, because pricing varies among plans, states, and individuals, this isn’t always true – sometimes there will be minimal difference in the premium cost. Therefore, when you get a quote, compare the premium amount against the deductible to select the more cost-effective option.

Should I buy Medicare Supplement Plan F or G?

Your unique health insurance needs, budget, and individual quote will help you determine if Plan F, G - or a different Medigap plan - is right for you. Each Medigap insurance company has different rates, which are often based on gender, age, zip code, and tobacco status. If you rarely go to the doctor, Plan G may be an attractive option since you’re not spending money ($183) out-of-pocket towards the deductible. However, if the premium for Plan F is minimal compared to Plan G, it may be the better option. Another thing to consider is that in 2020, Plan F will be going away, however, those who already have Plan F can be grandfathered in to keep it.

If you’re looking for another similar option, consider High-Deductible Plan F. It typically has a lower premium than both Medigap Plans F and G, and essentially offers the same coverage; however, your deductible would be much higher than both Medigap Plan F and G. For example, your premium may cost less than $50 per month, but your deductible may be as high as $2,200, which you would have to pay out-of-pocket before your plan starts paying.

What else do I need to know about Medigap?

All Medigap policies of the same letter offer the same basic benefits, but some offer additional benefits and different rates. Medicare beneficiaries must be enrolled in Original Medicare (Part A and Part B) to qualify and cannot purchase a Medigap policy in addition to their Medicare Advantage Plan (Part C).  They would have to switch back to Original Medicare during the Annual Enrollment Period (October 15th – December 7th) or during the Medicare Advantage Disenrollment Period (January 1st – February 14th). However, your premium for a Medigap plan may be much higher later versus enrolling in a Medigap plan during your Initial Enrollment Period (IEP), which is the 7-month period when you first become eligible for Medicare.

Get an online quote for Medicare plans that fit your health care needs today! Or call (888) 815-3313 - TTY 711 to compare Medicare Supplement Plans F and G over the phone and get answers and guidance from an experienced licensed sales agent.

Related Information: 

What Is Medigap?

The Pros of Using a Medicare Agent to Find a Plan

10 Reasons to Consider a Medicare Advantage Plan

MULTIPLAN_GHHK3T9EN_Accepted

Medicare.org is a non-government site and is operated by HealthCompare Insurance Services, a licensed health insurance agency certified to sell Medicare products. It contains information about and access to insurance plans for Medicare beneficiaries, individuals soon eligible for Medicare and those advising on behalf of Medicare beneficiaries. Medicare.org is not endorsed by the Centers for Medicare & Medicaid Services (CMS), the Department of Health and Human Services (DHHS), or any other government agency.

If you're looking for the government's Medicare site, please navigate to www.medicare.gov.

HealthCompare Insurance Services, Inc. is a licensed and certified representative of Medicare Advantage HMO, PPO and PFFS organizations and Medicare Prescription Drug plans with a Medicare contract. Enrollment in any plan depends on contract renewal.

The purpose of this communication is the solicitation of insurance. Contact will be made by an insurance agent/producer or insurance company.

Limitations, copayments, and restrictions may apply. Benefits, premium and/or copayments/coinsurance may change on January 1, of each year.

The plans we represent do not discriminate on the basis of race, color, national origin, age, disability, or sex. To learn more about a plan’s nondiscrimination policy, please click on the carrier’s link below.

Aetna
Anthem
Blue Cross Blue Shield - Illinois
Blue Cross Blue Shield - Montana
Blue Cross Blue Shield - New Mexico
Blue Cross Blue Shield - Oklahoma
Blue Cross Blue Shield - Texas
Blue Shield of California
Capital Blue Cross
Cigna Health Spring
Global Health
Highmark
Humana
Humana
Premera Blue Cross
SCAN
Scott & White
United HealthCare
Vibra Health Plan

Last Revised 11/15/2017