Medigap Plan G is one plan that is commonly overlooked for the more-popular Plan F. However, Plan G is similar to Plan F and typically has lower monthly premiums. Additionally, Plan F is not available to Medicare beneficiaries who became eligible for Medicare on or after January 1, 2020.
The only benefit Plan F includes that Plan G does not include is the $266 annual Medicare Part B deductible (in 2023).
If you’re getting a quote for Plan F, it may be smart to also get a quote for Plan G. If the Plan F monthly premium is at least $19 higher than the Plan G monthly premium, you would be overpaying for the Part B deductible benefit, and Plan G may be the better deal.
[Click here to compare prices for Plan F & Plan G]
When comparing Medigap plans, benefits and premiums are two of the most important deciding factors. Keep reading to compare these factors for Plan F vs. Plan G.
Both Plan G and Plan F provide similar benefits. Plan F includes all 9 Medigap benefits. Plan G has the same coverage except it does not cover the Medicare Part B deductible, which is $233 in 2022.
The following chart compares benefits for the two plans.
|
Medicare Supplement benefits |
F |
G |
|---|---|---|
|
Part A hospital care co-insurance & costs |
✓ |
✓ |
|
Part A hospice care co-insurance or co-payment |
✓ |
✓ |
|
Part B co-insurance or co-payment |
✓ |
✓ |
|
First 3 pints of blood |
✓ |
✓ |
|
Part A deductible |
✓ |
✓ |
|
Part A skilled nursing care co-insurance |
✓ |
✓ |
|
Part B deductible |
✓ |
|
|
Part B excess charges |
✓ |
✓ |
|
Foreign travel emergency |
✓ |
✓ |
This small difference in benefits between Plan G and Plan F makes a huge impact when consumers choose a Medigap plan.
Plan F usually comes with higher monthly premiums than Plan G.
However, the price gap between Plan F and Plan G may not always be so large. The prices you are quoted will differ depending on the insurance company and your personal details.
On a national scale, Plan G is still less expensive than Plan F, but only by about $12 a month, according to a statistical report from the Kaiser Family Foundation (KFF).
Premiums can vary widely depending on the insurance company and the state in which you live.
[Find out which plan option best fits your budget. Click here.]
Despite the fact that Plan G can potentially save Medicare beneficiaries hundreds of dollars per year, nearly 10 times more people choose Plan F compared to Plan G.
Plan F’s popularity creates a snowball effect that further increases its enrollment. So if you're shopping for a Medigap plan, be sure to get all the facts and compare plans with a licensed insurance agent.
[Could you save by choosing Plan G? Click here to find out]
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