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Is Medicare Plan G Better than Plan F?

With the phase out of Plan F scheduled for January 2020, many people are considering Plan G as an alternative. Plan F is "better" than Plan G in that it's more complete, but let's explore the differences and help you decide which plan makes most sense for you.

Medicare Plan G or Plan F
Comparing Medicare Plan G and Plan F

What is the Difference Between Medicare Plan G and Plan F?

Plan F is the most comprehensive Medigap plan. As far as closing the gaps in Medicare, Plan F leaves you with no out-of-pocket costs.

Plan G is identical to Plan F, with one exception: it does not cover your Part B deductible. In 2019, the Part B deductible is $185. After you've hit your deductible, there's no difference between Plan F and Plan G.


Which Medigap Plan Makes Most Sense for You?

While the only difference in benefits between Medicare Plan G and Plan F is the Part B deductible you'll have to hit with Plan G, there's one other difference you'll definitely notice: premium cost. Plan G has lower premiums than Plan F. Since the only difference between the two plans is the Part B deductible, one easy way to decide on a plan is to compare the annual premiums savings of Plan G versus the Part B deductible savings of Plan F.


How will the 2020 Phase-Out of Plan F Impact Things?

In January of 2020, Plan F will no longer be available to newly-eligible Medicare beneficiaries. If you already have Plan F, you'll get to keep your plan. Unfortunately, you might not want to. Experts expect the premiums savings with Plan G to be even more significant once Plan F is phased-out for new enrollees. As a result, it may make sense to look into switching from Plan F to Plan G if you're currently healthy. The savings likely already make sense and the expectation is that it'll only make more sense in the future.


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