Underwriting is the process assessing risk of issuing insurance. Undewriters evaluate applications,
Our clients often ask us for help comparing Medicare Plan F vs Plan G. We understand – it can be tough to decide between the two. First, let’s take a look at what each plan covers.
Medicare Plan F vs Plan G Benefits
Overview of Medigap Plan F Benefits
Of the ten Medicare Supplement plans, Medicare Supplement Plan F offers the most comprehensive coverage. Plan F covers the gaps in both Part A and Part B. This includes:
- Part A hospital deductible and coinsurance
- Hospital costs up to an additional 365 days after Medicare benefits are exhausted
- Part A Hospice care coinsurance or copayment
- Blood (the first three pints)
- Other Medicare approved expenses associated with Part A hospitalization
- Medicare Part B coinsurance and copayment
- Medicare approved doctor’s office fees
- Part B deductible
- Medicare Part B excess charges
- Other Medicare approved expenses associated with Part B coverage
- 80% of your foreign travel emergency
Many people choose Medigap Plan F because of its full coverage. Plan F policyholders will essentially only pay their monthly premium. Seniors with this plan will not incur any out-of-pocket costs for medical expenses, but Plan F premiums are generally the most expensive.
Plan F will not be available to beneficiaries that become eligible for Medicare in 2020 or later. However, seniors that were Medicare-eligible before 2020 can keep or pick up Plan F.
Overview of Medigap Plan G Benefits
Medicare Supplement Plan G is almost identical to Plan F, except for the Part B deductible. Once Medigap Plan G policyholders pay their Part B deductible ($185 for 2019), they have no other out-of-pocket costs, just like the Plan F. In addition to the similar coverage, Medigap Plan G monthly premiums are typically much less expensive than the Plan F premiums. The difference in premiums means that even after paying the yearly deductible, many people still save money by choosing Plan G.
Ultimately, Plan G has the same benefits as the Plan F, minus coverage for the Part B deductible ($185 for 2019). Once you pay the Part B deductible, the coverage is the same for both plans.
Which Medicare Supplement Plan Is Best for Me?
Your monthly Medigap premium depends on many factors such as your zip code, age, and the company you choose for your Medicare Supplement Insurance. Premiums for Plan F tend to be more expensive, so many people will select Plan G to have strong coverage and to save money. If you currently have Plan F, you should consider switching now.
To understand all of your options and which plan best fits your health and lifestyle, we recommend that you speak with an expert. At GoMedigap, we review your rates from over 30 of the top Medicare Supplement Insurance providers, including AARP and Mutual of Omaha. GoMedigap is also an authorized agent for many Blue Cross Blue Sheild Companies. Our agents are professional, friendly, and treat their clients respectfully with unbiased advice and recommendations.