About Plan F and Plan G

Plan F and Plan G Are the Two Most Popular Plans.

Medicare Supplement Insurance plans have letter designations (A-N) indicating the benefits included with each plan. Under federal law, all Medicare Supplement plans (A-N) benefits are the same with all companies. The ONLY difference among plans is the price. The two most popular plans are Medicare Supplement Plan F and G. Plan G became more popular beginning June 1, 2010. On that date, Plan G benefits were increased to be exactly like Plan F except for the Medicare Part B calendar-year deductible. Plan F pays the Medicare Part B calendar-year deductible and Plan G doesn’t. That is the ONLY difference between the two plans. The Medicare Part B calendar-year deductible is $147 for 2013. Understanding this difference is the first step to comparing these two plans.

Two Major Reasons Why Plan G May Be a Better Value.

First and foremost is the difference in price.

Depending on your age and gender, the premium savings for Plan G can be quite significant when compared with Plan F. For example: If you save $64 a month ($768 a year) on Plan G premiums and you spend 100% of the Medicare Part B deductible, you still save $621. When you compare Plan F and Plan G rates among the top insurance carriers in North Carolina, the savings are quite significant. Also, the older you are the greater the savings potential. Savings up to 65%. Do the math yourself and see how much you can save.

The second major reason is that Plan G premium rates are historically more stable than Plan F rates.

Federal law requires Plan F to be offered on a “Guaranteed Issue” basis when an individual loses his employer group or Medicare Advantage plan coverage. Insurance companies cannot require you to answer health questions in this situation; therefore, people applying for Plan F coverage are, on average, less healthy than those applying for coverage that requires medical underwriting. Less healthy people tend to have more medical claims, leading to larger premium rate increases in the future. Insurance companies are NOT required to offer Plan G on a “Guaranteed Issue” basis; therefore, people applying for Plan G coverage in the above situation are, on average, more healthy. PLEASE NOTE: If a person is applying for coverage during their open enrollment period, they are not required to answer health questions for any Medicare plan offered by any insurance company.

Plan F and G Include All These Benefits:

• Freedom to choose any doctor or hospital that accepts Medicare patients.
• Benefits start immediately with no waiting period for pre-existing conditions.
• No networks and no referral needed.
• No cancellation for age, health or the number of claims you file.
• Covers 100% of the Medicare Part A deductibles and co-insurance.
• Covers 100% of Medicare Part B excess charges.
• Coverage that expands automatically with any future change in Medicare.
• Virtually eliminate all claims paperwork.
• 30-day, no-risk free look from the date your policy becomes effective guarantees your satisfaction or money back.