Understanding Medicare Plans F and G: Which Is Right For You?
Navigating the world of Medicare can be overwhelming, but understanding the differences between the available plans is essential in choosing the best coverage for your needs. Two of the most popular Medigap plans—Plan F and Plan G—are often at the top of the list. Both of these plans provide comprehensive coverage for out-of-pocket costs not covered by Original Medicare, but there are some key differences that can impact your decision.
At ProCompare Medicare, we understand that choosing the right plan can be a daunting task for both you and your patients. That’s why we’re here to simplify the process and take the guesswork out of Medicare. We provide expert guidance to help you make informed decisions, ensuring your patients stay with the right plan and receive the best possible care. Let’s break down the differences between Medicare Plan F and G to help you understand your options.
What Is Medicare Plan F?
Medicare Plan F is often referred to as the “gold standard” of Medigap plans due to its extensive coverage. Plan F covers 100% of the out-of-pocket expenses that Medicare doesn’t pay for, including:
+ Part A Coinsurance and Hospital Costs
+ Part B Coinsurance or Copayments
+ The first 3 pints of blood needed for a transfusion
+ Part A Hospice Care Coinsurance or Copayments
+ Skilled Nursing Facility Care Coinsurance
+ Part B excess charges (the difference between what a Doctor charges and the Medicare-approved amount)
+ Foreign travel emergency care (up to plan limits)
For individuals who want the most comprehensive coverage and the least amount of out-of-pocket expenses, Plan F is an excellent option. However, Plan F is only available to those who were eligible for Medicare before January 1, 2020. If you become eligible for Medicare after that date, Plan F isn’t an option for you.
What Is Medicare Plan G?
Medicare Plan G is another popular choice, and it is often considered a slightly more affordable alternative to Plan F with almost the same level of coverage. The key difference is that Plan G does not cover the Medicare Part B deductible. However, once that deductible is met, Plan G covers nearly everything else, including:
+ Part A Coinsurance and Hospital Costs
+ Part B Coinsurance or Copayments
+ The first 3 pints of blood needed for a transfusion
+ Part A Hospice Care Coinsurance or Copayments
+ Skilled Nursing Facility Care Coinsurance
+ Part B excess charges (the difference between what a Doctor charges and the Medicare-approved amount)
+ Foreign travel emergency care (up to plan limits)
For those who don’t mind paying the Part B deductible out-of-pocket, Plan G is often seen as a more cost-effective option while still offering almost identical coverage to Plan F.
Comparing Medicare Plan F and G
Coverage Area
Part A Coinsurance
Part B Coinsurance
Part A Hospital Costs
Part B Excess Charges
First 3 Pints of Blood
Hospice Care Coinsurance
Skilled Nursing Facility Coinsurance
Foreign Travel Emergency Care
Part B Deductible
Eligibility
Plan F
Covered
Covered
Covered
Covered
Covered
Covered
Covered
Covered
Covered
Available to those eligible before 2020
Plan G
Covered
Covered
Covered
Covered
Covered
Covered
Covered
Covered
Not Covered
Available to all eligible after 2020
