Updated 2022 Information – Medicare supplement Plan F or Medicare supplement Plan G. Have you ever wondered which is better?
Do you currently have a Medicare supplement plan F? Have you ever thought about the possibility of changing to a Medicare supplement plan G the next time you are price shopping your Medicare supplement health insurance coverage?
This is a question we often get in our office. This post should help explain the difference between a Medicare supplement Plan F and a Plan G as well as give some ideas and recommendations about the possibility of making that change.
The first thing I want to do is provide a very quick review of the two different parts of Medicare.
We have Medicare Part A – which is called hospital
And we have Medicare Part B – which is called medical
Medicare supplement plan F and Medicare supplement Plan G work exactly the same under Part A of Medicare. Part A of Medicare covers you if you are officially admitted overnight in a hospital or some other similar facilities such as:
Skilled nursing facility
Rehab Center or hospice care
If you have a plan F or a Plan G, Medicare will be your primary coverage for any care covered under Part A. The Medicare supplement Plan F or plan G will pay for all your deductibles and all of your co-payments. You will not have any additional out-of-pocket Part A expenses.
Next we have Medicare Part B. Medicare Part B is any medical care that you need that is not a stay in a hospital or some other facility. Some of the common medical care you might receive under Part B would be things like:
Going to see your doctor
Any type of follow-up x-rays, blood work, testing, treatment, therapy
Emergency room, outpatient, home health care and so forth
If you have a Medicare supplement plan F, you also have no additional out-of-pocket expenses for medical care under Part B. If you were to consider changing to a Plan G, that is the one thing that is different.
On Plan G, you are responsible for your Part B deductible. The Part B deductible right now (which is the year 2022) is $233. If you have a Medicare supplement Plan G, each calendar year, starting on January 1st, you will be responsible for the first $233 of Part B medical care.
You are going to be responsible to pay that out-of-pocket costs to the medical provider that has provided that service to you. Once your Part B deductible has been paid for a particular year, then everything is covered 100% the rest of that year just as if you have a Plan F from that point on.
So this brings us to the original question, which is better, Plan F or Plan G? The answer to this question will vary for each person, based an a number of factors, but in most cases we see that choosing a Plan G will offer you the best value.
Both Plan F and Plan G offer very good coverage. However, very often when we are working with our customers and we compare the price, the lowest Plan F to the lowest Plan G, we see that the monthly premium on the Plan G is enough of a savings that it makes it a better value.
If we can help our customers save $30 or $40 or more per month on a Plan G, then it is a much better value long term. If you have a Plan F now, you can keep it forever, but the rate is going to continue to increase. If you are on a Plan F now and your rate has gotten high, it may be time to consider moving to a Plan G.
We would be very happy to talk to you about your options. We’ll look at all the different companies in your area that offer the Plan F and the Plan G. We will offer you the very best prices for both and give you some ideas and options that might be the best for you in the future.
Please give us a call at any time for a Free no obligation rate quote and consultation.
If you have any questions about this subject or would like to speak to us about any of your Medicare needs in regards to Medicare supplement, Medicare Advantage or Part D prescription drug plans, I would certainly be very happy to speak with you.
I am an independent agent specializing in the senior market. I would be very happy to look at your current coverage and compare it to the marketplace to make sure that you are still getting a good value. My services to you will always be FREE.
Billy Williams
800-499-1942
MedicareHealthInsuranceOptions.com
