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What is the difference between Plan F and Plan G?

Coverage

Medicare Supplement Insurance Plans F and G (sometimes incorrectly referred to as “Part F” and “Part G”) are very similar and are both popular choices among Medicare beneficiaries. These are the two most comprehensive Medicare Supplement Plans available, both offering coverage for Medicare Part A coinsurance and hospital costs up to a year after Medicare benefits have been used up, Part B coinsurance or copayments, blood transfusions up to three pints annually, Medicare Part A hospice care coinsurance or copayments, skilled nursing facility care coinsurance, the deductible for Medicare Part A, the Medicare Part B excess charge, and 80% of foreign emergency care (up to a certain limit). However, while Plan F provides coverage for your Medicare Part B deductible, Plan G does not.

Availability

The Medicare Part B deductible benefit mentioned above is being discontinued at the beginning of 2020. Once this happens, Plan F will no longer be open to new enrollees, making Plan G the most comprehensive Medicare Supplement Insurance Plan on the market. You may still enroll in Plan F any time prior to January 1st, 2020, and you may even be able to enroll after that date so long as you qualified for Medicare before that point. The discontinuation of Plan F will not impact anyone who enrolls in it while it is still available. It is also worth noting that while Plan F is one of the three plans that insurers selling Medicare Supplement Insurance are required to offer, Plan G is not. Thus, there may be more insurers selling Plan F in your area than Plan G, meaning more options for you to choose from.

Cost

Because it offers one more benefit than Plan G, Plan F is usually the more expensive of the two, with monthly premiums generally falling in the $160-$240 range. You may be able to purchase a special type of Plan F which offers lower premiums in exchange for a higher deductible. Premiums for this type of plan may be a third or less of what you would pay with a standard version. If Plan F is not particularly affordable in your area, you may be better off purchasing Plan G and simply paying the deductibles for Medicare Part B as needed. In the end, which option is best for your budget will depend on a variety of factors, including age, location, and which company is providing the coverage. Be sure to shop around and get quotes for your specific situation from multiple insurers before making a purchase.

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