Plan F or G? Look Closely and You Might Choose G - Medicare Consumer - Medicare Consumer

Plan F or G? Look Closely and You Might Choose G

Share on FacebookShare on Google+Tweet about this on TwitterEmail this to someone

Medicare Supplement Plan F has become by far the most popular Supplemental plan of all, chosen by over 50 percent of plan holders.   It offers the longest list of benefits of all the Medigap plans and includes coverage of the Part B Deductible (which is $147 in 2015) and coverage for Medicare Excess Charges.

Medigap F plan G plan

But Plan G is often less expensive than Plan F, and it offers precisely the same benefits as Plan F, except for the Part B deductible benefit (see accompanying table). That’s the only distinction between the two plan types and the benefit is worth at most $147 per year.

So if you can find a Plan G with annual premium that $147/year less than a Plan F, you should choose the Plan G and pocket the savings.

It shouldn’t be hard to find one:  Looking at a June, 2015 database of Medicare Supplement rates in Indiana, there’s a Plan F offered by Colonial Penn that costs $3117.27 annually for a 65-year old non-smoking female.   That same buyer could buy Plan G from Colonial Penn for $2173.62, saving $943.64 per year in premiums — more than enough to pay for the $147.00 Part B deductible.

MedicareConsumer Tip:   If you’re attracted to the long list of benefits available from Medicare Supplement Plan F, ask your agent to also quote you a Plan G option. As long as the Plan G option is cheaper by at least $147/year, you should take it.

Medicare Supplement Plan BenefitPlan FPlan G

Pays Part A co-insurance for up to 365 days of additional hospital stay after Medicare benefits are exhausted

Yes

Yes

Pays Part B preventative care co-insurance

Yes

Yes

Pays Part B co-payment or co-insurance

Yes

Yes

Pays for the first three pints of inpatient blood per year that Medicare Part A doesn’t pay for

Yes

Yes

Pays the Part A co-pay/co-insurance for hospice care

Yes

Yes

Pays the Part A deductible

Yes

Yes

Pays for the skilled nursing care co-pay that Part A charges after 21 days

Yes

Yes

Pays for foreign travel emergency

Up to 80%

Up to 80%

Pays the Part B deductible

Yes

No

Pays for Part B “Excess Charges”

Yes

Yes

 



Get your free Medicare consumer guide

Compare Medicare Plans