Independent Agent & Medicare Supplement Specialist, reMEDIGAP, USA
There are two differences:
1) In Plan G, you have to pay the annual $147 Part B deductible yourself. Once it's met, you are covered with the same benefits as Plan F.
2) The only other difference is the price. Plan G is usually less expensive because you are paying the Part B deductible instead of the insurance company.
Please let me know if I can be of further assistance. 1-888-411-1329
Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
These two plans are nearly identical as there is only 1 difference between the benefits - coverage of the Medicare Part B deductible ($147 in 2014).
Plan F is the most comprehensive plan as it covers all available Medigap benefits at 100% from day 1 including the Part B deductible - Plan G does not cover the deductible and must be paid out-of-pocket.
When comparing the two plans, you want to look at the price differential at the carrier(s) offering them at the lowest cost. If the difference in annualized premiums between plan F and plan G is more than $147, than plan G will be the plan you should select - if it's less than $147, then you should select plan F.
Please note, Medigap plans are standardized meaning the benefits are exactly the same regardless of which insurance company you buy your Medigap plan from. Every carrier has to pay the benefits the same way.
If it's your first time buying a Medigap plan or you already have one and want to lower your monthly premium, you should consult with an independent Medigap insurance broker who can shop the case for you among many companies to ensure you're paying the lowest possible price for your plan.
I hope the information is helpful - please feel free to contact me for help with your Medigap plan and if you have any other questions. Thanks very much.
Medigap Plan F and Plan G are the two most popular Medigap Plans on the market. There is only one difference in benefits but potentially could save you a lot of money. Plan G does not cover the Part B annual deductible which currently (2014) is $147. However, in a lot of cases Plan G is considerably less expensive than Plan F. In addition, insurance carriers have had a history of having smaller premium increases over time on Plan G. It could be a good way to save money now but also save more money down the road with smaller increases in your premium.
A good independent agent will be able to show you all the plans in your area and help you to determine if Plan G or Plan F is a good fit for you. They will also help you to find the carrier that has the lowest premium for the plan you want.
I would be happy to answer any other Medigap questions you have.
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1) In Plan G, you have to pay the annual $147 Part B deductible yourself. Once it's met, you are covered with the same benefits as Plan F.
2) The only other difference is the price. Plan G is usually less expensive because you are paying the Part B deductible instead of the insurance company.
Please let me know if I can be of further assistance. 1-888-411-1329
Plan F is the most comprehensive plan as it covers all available Medigap benefits at 100% from day 1 including the Part B deductible - Plan G does not cover the deductible and must be paid out-of-pocket.
When comparing the two plans, you want to look at the price differential at the carrier(s) offering them at the lowest cost. If the difference in annualized premiums between plan F and plan G is more than $147, than plan G will be the plan you should select - if it's less than $147, then you should select plan F.
Please note, Medigap plans are standardized meaning the benefits are exactly the same regardless of which insurance company you buy your Medigap plan from. Every carrier has to pay the benefits the same way.
If it's your first time buying a Medigap plan or you already have one and want to lower your monthly premium, you should consult with an independent Medigap insurance broker who can shop the case for you among many companies to ensure you're paying the lowest possible price for your plan.
I hope the information is helpful - please feel free to contact me for help with your Medigap plan and if you have any other questions. Thanks very much.
A good independent agent will be able to show you all the plans in your area and help you to determine if Plan G or Plan F is a good fit for you. They will also help you to find the carrier that has the lowest premium for the plan you want.
I would be happy to answer any other Medigap questions you have.