About Medicare
Medicare Plan F vs Plan G
Dear AMAC,
I have a Plan F, but my friend has been telling me to check out the Plan G because her premium is much lower than mine. I would consider Plan G if I could save some money.
Can you tell me what the difference is between Medicare Plan F vs Plan G?
-Susan (Sarasota, FL)
Hello Susan,
Plan F has long been a popular choice among Medicare beneficiaries since it pays all your Medicare approved out-of-pocket expenses. Therefore, many people are apprehensive about leaving their Plan F because the coverage is so robust. Although it is the most comprehensive option for those who can get on Plan F, there is another plan letter you should consider: Plan G.
Now, did you know there’s only ONE difference between Plan F and Plan G?
It’s true! Plan F covers your Part B Deductible (which is $226 for year 2023) and Plan G does not. So, if you are comfortable paying copays until you reach the Part B Deductible, you could be in for a boatload of savings by switching to Plan G.
Not to worry, you will still be able to see any provider in the US and its territories who accepts Original Medicare and every other service covered by Plan F will be covered by Plan G (besides the Part B Deductible). In most areas, Plan G is more cost-effective than Plan F, even when you include the deductible in your calculations, making this decision a no-brainer!
Check out the chart below to see a full comparison between Plan F and Plan G:
|
|
Plan F* |
Plan G* |
|
Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up |
Yes |
Yes |
|
Part B coinsurance or copayment |
Yes |
Yes |
|
Blood (first 3 pints) |
Yes |
Yes |
|
Part A hospice care coinsurance or copayment |
Yes |
Yes |
|
Skilled nursing facility care coinsurance |
Yes |
Yes |
|
Part A deductible |
Yes |
Yes |
|
Part B deductible |
Yes |
No |
|
Part B excess charge |
Yes |
Yes |
|
Foreign travel exchange (up to plan limits) |
80% |
80% |
|
Out-of-pocket limit** |
N/A |
N/A |
* Plans F and G also offer a high-deductible plan in some states. With this option, you must pay for Medicare-covered costs (coinsurance, copayments, and deductibles) up to the deductible amount of $2,700 in 2023 before your policy pays anything. (Plans C and F aren’t available to people who were newly eligible for Medicare on or after January 1, 2020.)
Overall, if you’ve had Plan F for some time and find the premiums are getting out of hand, you may want to consider Plan G. You’d still have access to any doctor that accepts original Medicare and all the other great benefits you already enjoy- but at a lower monthly rate than Plan F.
Want to check if you can save money by switching to Plan G?
Give us a call at 855-611-4856 and one of our licensed Medicare Advisors can let you know in just a few minutes!
(Please note that we do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.)
