Medigap Monday: Difference between Medicare Supplement Plan F and Plan G

There is only one difference in coverage between the Medicare Supplement Plan F and the Plan G. That’s right, only ONE. The Plan F pays for Medicare’s Part B annual deductible of only $183.00 and the Plan G does not. However, the Plan G is the most cost-effective plan and I’ll explain why. There are three main reasons Plan G is a better choice than Plan F. 1) Simple Math: Plan F costs, on average, $600 more per year in premiums than the Plan G. Why pay Plan F $600 more when the only difference in benefits is that Plan G has a small $183.00 deductible? That is just giving more money to these big insurance carriers for no reason. 2) Rate Stability: No one that turns 65 after 01/01/2020 will be able to purchase the Plan F. This will cause the Plan F premiums to increase quickly. 3) The Part B Deductible is likely to continue increasing. This will also cause the Plan F premiums to increase at a higher rate than the Plan G.