Medigap Insurance 2018: Which Medicare Supplement Plan is Best? Plan F vs Plan G
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The 2 most popular Medicare Supplement (Medigap) plans are Plan F & Plan G. Should you choose Medigap Plan F or Plan? For those with Medicare, Medicare Supplement Insurance (also called Medigap) can help ease the burden of potentially high out-of-pocket costs such as deductibles, coinsurance and other fees. When comparing Medigap Plan F and Plan G, you'll see there's only one major difference in benefits — Plan F covers the Medicare Part B deductible and Plan G doesn't.
Medigap Plan F Coverage
With Medigap Plan F, you get coverage on all nine basic benefits listed above. In fact, 56% of Medicare beneficiaries enrolled in a Medigap policy in 2014 were enrolled in Plan F. A Medigap Plan F policy could cost more in monthly premiums than some other Medigap plans that offer fewer benefits.
Newly eligible Medicare beneficiaries won't be able to purchase Medigap Plan F or Plan C starting in 2020. Until that time, you can still likely purchase Plan F in your area if it is available and if you qualify.
So how does Plan F compare vs. Plan G?
Medigap Plan G Coverage
Medigap Plan G has almost all of the same basic benefits as Plan F, except for coverage of the Medicare Part B deductible ($183 in 2018). This means that once your Part B deductible is paid in full, a Medigap Plan G policy would offer the same coverage as Plan F.
Opting for Medigap Plan G coverage could equal lower monthly premiums depending on your location, your insurance provider and other factors. Deciding which plan is right for you could come down to availability, the cost of monthly premiums and whether or not you want coverage for the Medicare Part B deductible.
Deciding on Medigap Plan F vs. Plan G
How much your monthly premium costs could be determined by several factors. Your current health, age, gender, your location and your Medicare Supplement Insurance company could all influence your premiums, depending on when you buy your policy.
The best time to buy a Medigap plan is during your Medigap open enrollment period. Insurers can't use your health against you during this time. You can't be denied coverage or charged higher premiums due to your health history. Your Medigap open enrollment period begins the month you are 65 years old and enrolled in Part B.
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