Choosing the right Medicare plan can be confusing, especially when you have to decide between options like Medicare Plan F vs Plan G. While both plans offer a lot of coverage, there are some key differences that could affect your out-of-pocket costs. Let’s break down what each plan offers and what sets them apart so you can make an informed choice.
What are Medicare Supplement Plans?
Medicare is a health insurance program for people 65 and older or those with certain disabilities. However, Original Medicare (Parts A and B) doesn’t cover everything. That’s where Medicare Supplement plans, also known as Medigap, come in. These plans help pay for things that Original Medicare doesn’t cover, like deductibles, coinsurance, and copayments.
Medigap plans are offered by private insurance companies, and each plan covers the same things no matter where you buy it. But the price can vary depending on the insurance company. There are several Medigap plans, and they are labeled with letters (A, B, C, D, F, G, etc.).
Medicare Plan F and Medicare Plan G are two of the most popular choices, but they have a few important differences that can affect your decision.
What is Medicare Plan F?
Medicare Plan F is known for being the most comprehensive Medigap plan. It covers almost everything that Original Medicare doesn’t. Here’s what it includes:
- Medicare Part A coinsurance and hospital costs (even after Original Medicare benefits are used up).
- Medicare Part B coinsurance or copayments (covering the 20% that Medicare doesn’t).
- The first three pints of blood for a transfusion.
- Skilled nursing facility care coinsurance.
- Medicare Part A and Part B deductibles.
- Foreign travel emergency care (up to a limit).
Plan F is great because it covers all of your out-of-pocket costs. However, there’s one important thing to know: Plan F is no longer available for new Medicare enrollees as of January 1, 2020. If you were already eligible for Medicare before that date, you can still get Plan F if it’s offered in your state.
What is Medicare Plan G?
Medicare Plan G is similar to Plan F, but with one key difference: Plan G doesn’t cover the Medicare Part B deductible. The Part B deductible is what you pay for Medicare services before Medicare starts to pay. For 2025, the Part B deductible is $257.
Aside from this, Plan G covers almost everything else that Plan F covers:
- Medicare Part A coinsurance and hospital costs.
- Medicare Part B coinsurance or copayments.
- The first three pints of blood.
- Skilled nursing facility care coinsurance.
- Foreign travel emergency care.
So, with Plan G, you’ll still have great coverage, but you’ll need to pay the Part B deductible yourself.
Key Differences Between Plan F and Plan G
The main difference between Medicare Plan F vs Plan G is whether or not the Part B deductible is covered:
- Plan F covers the Part B deductible. This means you don’t have to pay anything out-of-pocket for Part B services until your plan kicks in.
- Plan G doesn’t cover the Part B deductible, so you’ll need to pay that $257 out-of-pocket before your plan starts covering your medical expenses.
Aside from this difference, both plans are very similar and offer almost identical coverage.
How Much Do Medicare Plan F and Plan G Cost?
The premiums for Medicare Plan F and Medicare Plan G can vary depending on where you live, your age, and which insurance company you choose. However, in general:
- Plan G typically has lower premiums than Plan F because it doesn’t cover the Part B deductible.
- Plan F generally has higher premiums because it covers more, including the Part B deductible.
So, while Plan F gives you more comprehensive coverage, you’ll usually pay more for it. On the other hand, Plan G might be more affordable, but you’ll have to pay the Part B deductible out of your own pocket.
Prescription Drug Coverage
Neither Medicare Plan F nor Medicare Plan G covers prescription drugs. If you need help with medications, you’ll have to sign up for a Medicare Part D plan. Many people who choose Plan F or Plan G also enroll in Part D for complete coverage of both medical services and prescription drugs.
Eligibility and Availability
- Medicare Plan F is no longer available to people who became eligible for Medicare after January 1, 2020. However, if you were eligible before that date, you can still enroll in Plan F if it’s offered in your state.
- Medicare Plan G is available to everyone who is eligible for Medicare, whether you were eligible before or after 2020.
So, if you’re new to Medicare, Plan G is your only option. If you’ve been eligible for Medicare for a while, you may still be able to choose Plan F.
Which Plan Should You Choose?
Deciding between Medicare Plan F vs Plan G depends on your personal healthcare needs and your budget. Here are some things to consider:
- Plan F is perfect for those who want the most comprehensive coverage and don’t want to pay out-of-pocket costs for any Medicare services, including the Part B deductible.
- Plan G is a good option if you’re looking for a more affordable plan and are okay with paying the Part B deductible yourself.
Both plans cover most of the costs that Original Medicare doesn’t, including hospital stays, skilled nursing, and emergency care while traveling. The decision comes down to whether you prefer to pay a little more for Plan F’s all-inclusive coverage or save on premiums with Plan G and pay the Part B deductible yourself.
Final Words
Both Medicare Plan F and Medicare Plan G offer great coverage for people who want help with the costs that Original Medicare doesn’t cover. The biggest difference is that Plan F covers the Part B deductible, while Plan G does not. Depending on your preferences and budget, either plan could be a good fit for you.
If you’re not sure which plan to choose, it’s always a good idea to speak with a licensed insurance agent. They can help you compare the costs and benefits of each plan based on your needs and help you make the best decision for your healthcare coverage.
