Spotts Insurance Services, LLC Blog
Do you have family members who are turning 65 years old, soon? If you, your parents or grandparents will be requiring Medicare Supplemental Packages in the near future, read on and the person you might help save money can even be yourself.
A Medicare Supplement Insurance (Medigap) is a policy that’s offered by private companies that can help pay some of the health care costs that Original Medicare doesn't cover, like coinsurance, copayments and deductibles.
Difference Between Plan G and F Benefits
Simply put, Plan G and F have similar coverage. The only item not covered by Plan G is the Part B Annual Deductible ($187 as of 2017). The part B deductible is a one time fee you must pay each year when you see the doctor for non-preventive visits. The current part B deductible cost is $183. So Medigap Plan F pays the $183, whereas Plan G does not.
Who Should Buy Medigap F?
Everyone looking into Medicare Supplemental policies should consider Plan F since it offers the most benefits. But who needs to choose Plan F over Plan G? Anyone who can find a Medigap Plan F with an annual premium that does not cost $183 more than Plan G’s annual premium. So if the best priced F is only $100 more a year than the best priced G, then that would be a good deal.
Anyone who is applying during a Medigap Special Enrollment Period (SEP). Plan F has guaranteed issuance during SEP while Plan G does not.
Who Should Buy Medigap G?
Anyone enrolling in Medicare Supplement Insurance who does not fall under the above-mentioned two bullets should consider Plan G. If you can find a Plan G that will save you more than $183 a year over the best-priced Plan F plan, Plan G is perfect for you. With the right company, Plan G can save you $30 (or even more) a month. That would mean you would save $360 a year ($30 x 12) which would pay more than the $183 the plan requires.
Getting the most for you or your loved one’s hard-earned money is very important. To get the best Medigap Plans for your family, we at are ready to patiently explain the available options that best suit your needs and budget. At Spotts Insurance Services, LLC, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. To learn more about how we can help you, please contact our agency at (570) 742-4500 or Click Here to request a free quote.