Medicare Supplement Insurance Plan F and Plan G offer more benefits than many of the types of Medicare Supplement Insurance plans (Medigap) that are available in most states.
|To get help comparing Medicare Supplement Insurance Plan F vs. Plan G and to find plans in your area, visit MedicareSupplement.com today.|
It’s understandable why you might consider choosing one of these two Medigap plans. This guide compares and contrasts Medicare Supplement Insurance Plan F vs. Plan G, including what they cover and some of the costs associated with each plan.
|Medicare Supplement Benefits||A||B||C||D||F1||G||K2||L3||M||N4|
|Part A co-insurance and hospital costs||✓||✓||✓||✓||✓||✓||✓||✓||✓||✓|
|Part B co-insurance or co-payment||✓||✓||✓||✓||✓||✓||50%||75%||✓||✓|
|First 3 pints of blood||✓||✓||✓||✓||✓||✓||50%||75%||✓||✓|
|Part A hospice care co-insurance or co-payment||✓||✓||✓||✓||✓||✓||50%||75%||✓||✓|
|Co-insurance for skilled nursing facility||✓||✓||✓||✓||50%||75%||✓||✓|
|Medicare Part A deductible||✓||✓||✓||✓||✓||50%||75%||50%||✓|
|Medicare Part B deductible||✓||✓|
|Medicare Part B excess charges||✓||✓|
|Foreign travel emergency||80%||80%||80%||80%||80%||80%|
|1. Plan F offers a high-deductible plan. This plan requires you to pay a $2,300 deductible in 2019 before it covers anything.
2. Plan K has an out-of-pocket yearly limit of $5,560 in 2019. After you pay the out-of-pocket yearly limit and yearly Part B deductible, it pays 100% of covered services for the rest of the calendar year.
3. Plan L has an out-of-pocket yearly limit of $2,780 in 2019. After you pay the out-of-pocket yearly limit and yearly Part B deductible, it pays 100% of covered services for the rest of the calendar year.
4. Plan N pays 100% of the Part B coinsurance, except for a copayment of up to $20 for some office visits and up to a $50 copayment for emergency room visits that don’t result in an inpatient admission.
View an image version of this table.
Plan F and Plan G both offer coverage for most of the nine Medicare costs that can be covered by a Medicare Supplement Insurance plan. The main difference is that Plan F covers the Medicare Part B deductible, and Plan G does not.
Plan F and Plan G both offer 100 percent coverage for the following 2019 Medicare costs:
Medicare Supplement Insurance Plan F and Plan G both cover 80 percent of the costs for qualified emergency care received outside of the U.S. Original Medicare only covers foreign emergency care under limited circumstances.
In 2016, 55 percent of all Medicare Supplement Insurance beneficiaries were enrolled in Medigap Plan F, which was by far the most popular type of Medigap plan.1
Plan G was the second-most popular type of Medigap plan, with 10 percent of all Medigap enrollees.
In addition to the large difference in enrollment rates, there are three differences you might find between Medicare Supplement Plan F and Plan G:
As mentioned above, Medicare Supplement Insurance Plan F offers coverage for the Medicare Part B deductible ($185 per year in 2019), and Medicare Plan G does not. This is the primary difference in coverage between these two types of Medigap plans.
Medicare Supplement Plan F and Plan G are sold by private insurance companies who are free to set their own costs.
Because plans offering more coverage can often cost more than plans with less coverage, Medicare Supplement Plan F may cost more than Plan G in some areas.
Each type of Medicare Supplement Insurance plan may not be available in every location.
Some people may have access to Plan F but not Plan G, while others may be able to purchase Plan G but not Plan F. Just as with plan costs, the availability of these two plans may differ from one area to the next.
As of 2016, 84 percent of insurance companies selling Medicare Supplement Insurance offered Medigap Plan F, while only 57 percent of companies sold Medigap Plan G.1
By law, if an insurance company sells Medicare Supplement Insurance, they must offer at least Plan A. If they choose to offer any additional plans, they must also offer at least either Plan C or Plan F.
How do you decide between Medicare Supplement Plan F vs. Plan G?
First, decide how costly the Medicare Part B deductible is for your health care budget. If you currently have Part B, how often do you use it? Having the Part B deductible covered by a Medicare Supplement Insurance plan may be more important to some people than others.
Next, compare prices. The $185 annual deductible for Part B in 2019 averages out to a little more than $15 per month. If having coverage for the Part B deductible is important to you and you can find Medigap Plan F in your area that is no more than $15 more expensive than Medigap Plan G, the extra monthly premium cost may be worth it.
If it is not critical for you to have coverage for the Part B deductible, or if your only Plan F options are at least $15 more expensive per month than Plan G, you may actually save money by opting for Plan G and paying the Part B deductible yourself.
It’s worth noting that there is also a high-deductible Plan F option. This Medigap option offers a lower monthly premium, but beneficiaries must first meet a $2,300 annual deductible in 2019 before the plan covers any costs.
One great way to get help on deciding between Medicare Supplement Insurance Plan F vs. Plan G is to visit MedicareSupplement.com.
A licensed agent can help you compare the Plan F and Plan G options that may be available in your area so that you can find the best plan for your needs.
Beginning in 2020, newly eligible Medicare beneficiaries will not be allowed to enroll in Medigap Plan F because of a new federal law that prohibits plans from covering the Medicare Part B deductible.
Those who are already enrolled in Plan F prior to 2020 will be allowed to keep their coverage. If you become eligible for Medicare before Jan. 1, 2020, it may be possible to buy Plan F after the law goes into effect if it's available where you live.
1 AHIP. State of Medigap 2018 Trends in Enrollment and Demographics. (June 2018). Retrieved from https://www.ahip.org/wp-content/uploads/2018/06/State_of_Medigap18_FINAL.pdf.