Medicare Supplement Plan F vs. Plan G
April 13, 2017 | Katie Haug, Individual Advisor
Are you familiar with Medicare Supplement Plan F? What do you know about Plan G? And do you know the difference between the two of them?
A lot of questions but if you’re Medicare-eligible, it’s essential to know the differences between all of the available plans. With Plan F and Plan G there is one difference: Plan F covers the $183 Part B (Medical Outpatient) deductible that Medicare does not cover, and Plan G does NOT cover this $183 annual deductible. While this is the only difference between the types of supplement plans and Plan G, knowing the difference could generally save you hundreds of dollars per year.
Below are two examples based on a nationwide insurance carrier’s non-smoking rates in our area.
Example 1: 65-Year-Old Female
- Plan F monthly premium: $208.45
- Plan G monthly premium: $130.54
- Monthly premium savings: $77.91
- Annual premium savings: $934.92
Even if we assume the full $183 annual deductible is spent, this is still a savings of $751.92 per year.
Example 2: 70-Year-Old Male
- Plan F monthly premium: $279.09
- Plan G monthly premium: $174.74
- Monthly premium savings: $104.35
- Annual premium savings: $1,252.20
Even if we assume the full $183 annual deductible is spent, this is still a savings of $1,069.20 per year.
If you are on a Plan F and would like options for Plan G, please contact a Caravus Senior Market consultant for more information.