Find out whether Medicare Supplement Plan F or Plan G is the best deal! The most popular Medigap plans go head to head as compare the prices and benefits to find out which Supplemental plan is the best!
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Choosing the right Medicare Supplement plan (also referred to as Medigap Plans) can often be a confusing process. Our goal today is to help our readers gain some insight into the two most popular Medicare Supplement Plans available, Plan F and Plan G.
During this video we will discuss Medicare supplement Plan F vs Plan G now this is one of the most common questions we received from clients on a daily basis in our office. This video will explain in real-world terms what the difference in insurance coverage really is and then take you behind the scenes and show you our live quoting software that insurance companies never want you to see. This behind the scenes look is going to reveal the price that each insurance company is currently charging for both Plan G and Plan F. Finally we're going to take the difference in price we discovered together and weighed it against the difference in benefits to see if Plan F or plan G is the best and most valued Medicare supplement Plan.
Now the first thing I want you to know before we get into the benefits of these two plans is that Medicare pre-designed 10 Medicare supplement plans and they named him with letters so that it's easy for you the consumer to shop and find the best price. This means simply that any company that you see that offers Plan F, plan G, or any other plan off on here is offering absolutely identical benefits to any other company offering you the exact same plan after plan G. so it doesn't matter if you select united healthcare, Bluecross Blueshield, Aetna, Cigna, Mutual of Omaha, New Era or any other company… they all offer the exact same coverage at the exact same doctors and they'll pay exactly the same way so the bigger question here is which plan is best to go with and which company is going to offer us the best price. Now with that said I want to show you why out of these ten Medigap plans available to be sold the conversation still always boils down to plan f vs plan G. So we'll start with Plan F because it's the easiest to understand and it provides the most coverage. You'll notice every box going down the screen is checked. It's that easy! What this means is with Plan F your Medicare coverage turns into 100% percent coverage so you will never open your wallet or pay a dime out of pocket anywhere for your Medicare card is accepted. There's no co-pays or deductibles, all of your Medicare coverage is simply one hundred percent coverage. You just pay your monthly premiums and you are done for the year. Now with Plan G you will notice that the only difference is one box that is not checked and that is the part b deductible. The Medicare Part B deductible is only a $183 deductible, so if you're not familiar with the deductible what that means is with plan G you pay the first $183 out of pocket once per year. You pay that deductible at your doctor's office or wherever you receive healthcare services. Once you have paid $183 out of pocket then Plan G basically turns into Plan F where everything is one hundred percent covered. So the only difference in coverage between Plan F and plan G is that simple $183 deductible. Now when we get outside of Plan G the benefits of the other plans drop much more then their price does making them hard to recommend. You'll notice if we look at Plan K we have about fifty percent coverage on a lot of items, with no coverage for the Part B deductible, excess charges, or foreign travel. plan L only provides 75% coverage. Plan A and Plan B provides such little benefits that nobody even enrolls in them. They just don't provide enough coverage at all. That's why the focus remains on Plan F or plan G.
Now since we know that the absolute only difference between plan G and Plan F is a one time per year deductible of $183 we can safely assume that as long as we can save more than $183 per year in our premiums then we're going to be better off with plan G.
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