Should I Keep Plan F?
Who can keep Plan F?
Only Medicare beneficiaries who already have Medigap Plan F can keep it. Starting January 1st 2020, Medicare Supplement Plan F shall be discontinued for seniors turning 65 years old on or after January 1st, 2020. So you may keep Plan F if you have it.
However, you should really consider shopping more s affordable plan, such as Medicare Supplement Plan G. When you purchase Medigap Plan G during your initial open enrollment, you do not have to medically qualify. On the other hand, if you switch Medigap Plans, you will need to pass medical underwriting.
How does Plan F compare to Plan G
The Medicare Supplement Plan G is almost exactly the same and the Medicare Supplement Plan F. The only difference is that the Medicare Supplement Plan G doesn’t pay Medicare’s Part B annual deductible of $198 in 2020. After you meet that deductible, you have no medical bills, everything is covered the same as Plan F.
Why Choose Plan G over Plan F?
There are three main reasons Medigap Plan G is a better choice than Medicare Supplement Plan F.
- Simple Math: Medicare Supplement Plan F costs $600 more per year in premium than Medicare Supplement Plan G, so why pay Medicare Supplement plan F $600 more when the only difference in benefits is that Medicare Supplement Plan G has a small $198 deductible? That is just giving more money to these big insurance Carriers for no reason.
- Rate Stability: No one that turns 65 after 01/01/2020 will be able to purchase the Medicare Supplement Plan F. This will cause the Medicare Supplement Plan F premiums to increase quickly.
- The Part B annual deductible will likely continue to increase. This will also cause the Medicare Supplement Plan F premiums to increase at a higher rate than the Medicare Supplement Plan G.
Should I Buy Plan G?
You may be considering Plan G over Plan F. Get a side-by-side comparison of Plan F and Plan G, to help you decide which Medicare Plan is best for you. Find out how Medicare Plan G can save you by calling Senior Healthcare Direct at 1-855-368-4717 or get your quote.