Plan F vs Plan G
Plan F and Plan G are Medicare Supplements and are considered the most comprehensive options for beneficiaries to enroll in. Although it is the most expensive, Plan F gives the most coverage. All Medicare beneficiaries are not eligible for Plan F either. Plan G, however, is available to any Medicare beneficiary and offers almost the same amount of coverage.
Am I Eligible to Enroll in Plan F?
The eligibility of Plan F beneficiaries who were eligible for Medicare before Jan. 1, 2020, are eligible to enroll in Plan F. You could keep your Plan F if you enrolled in it prior to 2020, and you may even be eligible to enroll in Plan F if you kept your employer coverage when you became Medicare eligible before 2020.
Conversely, Plan G is available for any Medicare beneficiary.
Differences in coverage between Plan F and Plan G
The only difference in coverage between the two plans is Plan F covers the Medicare Part B deductible ($226 in 2023). No other Medicare Supplement plan offers coverage for the deductible. Otherwise, Plan F & Plan G have the same coverage.
Benefits of Plan F and Plan G
Part A
- Coinsurance and hospital costs up to 365 days after Medicare benefits are used up
- Deductibles
- Hospice care coinsurance or copayments
Part B
- Coinsurance or copayments
- Excess charges
Other Benefits
- First three pints of a blood transfusion
- Skilled nursing facility care coinsurance
- Medically necessary emergency health care service for the first 60 days when traveling outside the United States. Deductibles and limitations still apply.
Costs associated with Plan F and Plan G
The costs of Plan F and Plan G can vary by carrier, but generally, a carrier’s Plan F will have a higher premium than the same carrier’s Plan G.
Does Plan F make sense to enroll in?
Because the only difference between the two plans is the Medicare Part B deductible, the cost difference will help you decide if it is worth it. If the difference between what you would pay for Plan F over Plan G annually is less than $226, your Plan F is worth keeping. However, if Plan F is more than $226 more expensive annually, it may be worth it to consider enrolling in Plan G.
Whether you are shopping for Plan F or any Medicare Supplement plan, there are some extra perks you can look for when choosing a Medigap plan. Some plans will offer additional benefits such as gym memberships or discount programs.
it’s also important to understand that there is also the possibility that your premium may rise over time depending on your insurance company.
Seniorstar Insurance Group can help you search for Medicare Supplement plans that meet your needs and budget and get you the best plan for the coverage you need. Contact us today for a free no, obligation review of your current coverage.
