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Medicare Plan F vs. Plan G
With so many Medicare plan options available, it’s hard to know which plan will meet your medical needs, especially when it comes to coverage. By comparing Medicare Plan F vs. Plan G, you can determine which plan can better supplement your existing coverage.
Plans F and G are known as Medicare (or Medigap) Supplement Plans. They cover the excess charges that original Medicare does not, such as out-of-pocket costs for hospital and doctor's office care.
You may be asking yourself this question: What really is the difference between these two plans? When comparing Medicare Plan F and Plan G, it's important to note their similarities. These two plans offer the same basic benefits of coverage, which include:
- Part A coinsurance and hospital costs
- Part B coinsurance or copayment
- Blood (first 3 pints)
- Part A hospice care coinsurance or copayment
- Skilled nursing facility care coinsurance
- Part A deductible
- Part B excess charges
- Up to 80 percent of foreign travel
- No-out of-pocket limit
With this much similarity, you'd think they were the same plan. However, the differences between Plan F and Plan G make them virtually polar opposites.
Spot the Difference in Plan F vs. Plan G
With Medicare Plan F, you're getting the plan with the most coverage available. In addition to the above coverage, Plan F covers Medicare Part B deductible payments. Plan G does not.
This much coverage means that Plan F may come with a higher premium. However, choosing a high-deductible option for plan F could help keep your premium down. If you select a Plan F high-deductible option for 2019, you are required to pay for Medicare-covered costs up to the deductible amount of $2,300 before your Medigap plan begins to cover any expenses.
Even though Plan G doesn't cover Part B's deductible, the annual premium savings can help offset out-of-pockets expenses. Because of this and the amount of coverage you receive, Plan G could be considered as the more affordable of the two Medigap plans.
So Which One Is Right?
When you're stuck comparing two or more plans, it can feel like a game of tug-of-war with you in the middle. At HealthMarkets, we want to make sure you get the right Medicare Supplement Plan for your needs. Best of all, there is no cost to you for our service.