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Medigap Plan G vs. Medigap Plan F

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If you’ve chosen to enroll in a Medigap plan to supplement your coverage with Original Medicare, you know you still have a few choices to make. There are currently ten Medigap plans on the market, and you will need to decide which of those plans offers the best coverage for you.

Enrollment numbers in all ten plans are high, but the two most popular plans today are Medigap Plan G and Medigap Plan F. Let’s discuss these two plans and what kind of coverage they can offer their members.

Plan F Coverage Details

Plan F has the most comprehensive coverage of all the Medigap plans. Other than the monthly premium for the plan, Plan F policyholders have virtually no out-of-pocket expenses for any services that are covered by Medicare.

Plan F includes:

  • Part A coinsurance and up to an additional 365 days of hospital costs after Medicare benefits are exhausted
  • Part B coinsurance/copayment
  • Blood (3 pints)
  • Part A hospice coinsurance/copayment
  • Skilled nursing facility care coinsurance
  • Part A deductible
  • Part B deductible
  • Part B excess charge
  • 80% of foreign travel exchange
  • No out-of-pocket limit
Happy senior couple at dinner as they discuss Medigap plan G vs plan F
Any individual who is eligible and enrolled in Medicare Parts A and B is eligible for Plan G.

Plan G Coverage Details

Plan G is nearly identical to Plan F, with one exception. It does not pay the Medicare Part B deductible. However, it is still a popular, comprehensive Medigap option.

Plan G includes:

  • Part A coinsurance and up to an additional 365 days of hospital costs after Medicare benefits are exhausted
  • Part B coinsurance/copayment
  • Blood (3 pints)
  • Part A hospice coinsurance/copayment
  • Skilled nursing facility care coinsurance
  • Part A deductible
  • Part B excess charge
  • 80% of foreign travel exchange
  • No out-of-pocket limit

Eligibility and Premiums for Medigap Plan F

Plan F is not available to all Medicare beneficiaries. To enroll in Plan F, you must have turned 65 prior to January 1, 2020. Changes were made at that time that no longer allow Medigap plans to include payment for the Medicare Part B deductible. Those who were already enrolled or who have delayed enrollment but still turned 65 prior to January 1, 2020, can continue with Medigap Plan F coverage.

Because Plan F offers the most comprehensive benefits, it also has the highest premiums. Premiums vary by the insurance carrier, but overall, they are higher than other Medigap plans. Plan F premiums are expected to rise more quickly than other plans since the pool of members will begin dwindling.

Eligibility and Premiums for Medigap Plan G

Any individual who is eligible and enrolled in Medicare Parts A and B is eligible for Plan G. Even those who are eligible for Plan F may want to consider switching to Plan G as it will have lower premiums. The difference in premiums may even completely offset the fact that individuals with Plan G will have to pay the Part B deductible.

Both of these Medigap plans offer excellent coverage and there is no wrong choice when it comes to choosing a Medicare supplement. Essentially, you will make a choice between coverage and premiums.

You don’t have to make this decision alone. We have trained, licensed Medicare agents who can assist you in sorting through all the pros and cons of each Medigap plan. Plus, we can compare the premiums and history of rate increases across many insurance carriers. We’ll make sure you find a great plan at the best possible premium.

Give us a call today and schedule your complimentary consultation!

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