Due to the discontinuation of the Plan F for the new customers from January 1, 2020 the customers have been looking out for worthy alternatives to the same. Plan F has been the most popular in the Medicare Supplement plans as it covers all the expenses including the deductible for Part B. Plan G is the next best alternative to Plan F and the new customers can plan to buy the Plan G. The article provides an overview of the features of the Plan F and Plan G and assesses if the Plan G can be a good alternative to the Plan F.
Features of Plan F
Plan F is the undoubted favorite among the citizens among all the Medicare Supplement plans. It offers the best coverage and benefits to them. The Plan F covers 100% expenses including the deductible of the Part B of the Original Medicare. Customers holding the Plan F do not have to worry about any out-of-pocket expenses as it covers the copayments, coinsurance, and the Part B deductible. It also covers the Part B excess charges and 80% of the expenses towards medical emergency care expenses during foreign trip. However, the Plan F will be discontinued for the new customers from January 1, 2020.
Features of Plan G
Plan G of the Medicare Supplement Plan comes closest to the Plan F in terms of the coverage and benefits offered. The Plan G covers all the expenses and provides all the benefits as the Plan F except the deductible for Part B. Plan F is the most expensive among all the Medigap plans due to its full coverage including the deductible for Part B. Plan G comes at a much lesser premium than the Plan F. The deductible for Part B for the year 2019 is $185 which is much less than the difference in premium between the Plan F and Plan G.
Is Plan G the Best Alternative to Plan F
Plan G is the closest alternative to Plan F. The only difference is the exclusion of the deductible for Part B in the Medicare Supplement Plan G. The Part B deductible for 2019 is fixed at $185 meaning once the customers pay their deductible of $185, they get complete coverage as under Plan F. The premium difference between the Plan F and Plan G is more than the deductible amount of $185. Hence, Plan G offers better value for money to the customers and they can buy the same instead of the Plan F.