Medigap Plan F vs. Plan G: Is More Really Better?

By Kendra Knouff
eMedicareSupplements Senior Writer

What Are The Differences in Plans F and G?

For seniors who choose to enroll in Medicare, finding the right supplemental insurance policy is important. But with so many options, choosing the right one can seem like a burden. The two most popular types of Medigap policies are Plan F and Plan G, and it can be difficult to tell the two apart. What is the difference? Which one is right for you?

Medicare Supplement Plan F stands out from the many other plans available because it offers Medicare excess charges and the Medicare Part B deductible — two types of expenses that most supplement plans don't cover.

Plan G is popular because it covers many high-risk situations not taken care of by Medicare, and it is a pretty affordable plan. Plan G covers things like hospitalization coverage extension, hospital co-insurance, skilled nursing co-insurance, hospital care and Medicare excess charges, among other things.

The only thing Plan G doesn't cover that Plan F covers is the Part B deductible, which in 2014 is $147 per year.

In order to decide which plan is best for you, it is important to examine these plans side by side. Plan G is relatively less expensive than Plan F. But becuase Plan F covers 100 percent of the Part B deductible, which is $147 for 2014, a Plan G with a premium that saves $12 or less than Plan F would not be beneficial if you expect to see your doctor because you would do better to pay the slightly higher Plan F premium than pay the $147 deductible.

But if the Plan G you're looking at saves $13 or more per month compared to Plan F, it could be worth going with Plan G — especially if you may not see your doctor much — because you would pay less in premiums and Part B deductible than you would with your Plan F premium.

The only caveat to consider in all of this is your overall health and whether you think you will see your doctor enough to burn through your Part B deductible. If you don't think you'll touch your deductible, Plan G is a no-brainer. But if you expect to see your doctor regularly, a Plan F that comes within $12 of your Plan G is the best bet.

If you think you are exceptionally healthy for your age, you may want to look at a high deductible Plan F policy. Under this type of policy, you are required to pay all fees until your annual deductible has been met. After meeting the deductible, Medicare will cover any other charges incurred. This deductible is $2,140 per year as of 2014. This type of plan helps protect against high out-of-pocket expenses if you need any extensive medical care and treatment.

To sum up, because coverage is so similar between plans F and G, it is best to compare premiums before making a decision. It's important to note that premiums vary in price depending on location and other factors. If you need help choosing between a Plan F and Plan G Medigap policy, please contact one of our insurance agents (at no extra charge) to help you make the best choice.

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