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Thinking Of Switching To Medicare Supplement Plan F?

How easy is it to switch to Medicare supplement Plan F from Plan G?Questions About Medicare Supplement Cost?

Quite often I get questions about whether or not it is advisable to switch to a different Medicare supplement plan.

Most often the plan that people want to switch to is Plan F. This is typically due to a realization that the plan originally chosen requires more out-of-pocket costs than Medicare supplement Plan F. In this case the reader had medicare supplement Plan G.

In the following video, I answer a reader’s question about switching plans and discuss some of the things to consider. The assumption I made was that the individual was not entitled to Guaranteed Issue Rights nor were they in their Medicap Open Enrollment Period.



Comparing Plan F to Plan G

 

As you review the benefits chart for all Medicare supplements, you can see that the only difference between Plan F and Plan G is that with plan G you will be required to pay the Part B deductible.

The other difference, which you will find out when you compare the same plan from different companies, is the monthly premium. Often the premium can vary over $100 per month between companies.

 

Medicare Supplement Plans Benefit Checklist
A
B
C
D
F*
G
K
L
M
N
Basic Plan (Part A Coinsurance up to an additional 365 days)
x
x
x
x
x
x
x
x
x
x
Basic Plan (Part B Coinsurance/ Co-payment; 1st 3 Pints Blood; Part A Hospice Care Coinsurance/ Co-payment)
x
x
x
x
x
x
50%
75%
x
100% except up to $20 co-pay for office visits and $50 co-pay for ER visits
Skilled Nursing Co-payment ($148/day for days 21 – 100 for 2013)
x
x
x
x
50%
75%
x
x
Part A Deductible ($1,184 for 2013)
x
x
x
x
x
50%
75%
50%
x
Part B Deductible ($147 for 2017)
x
x
Part B Excess Charges (additional 15% for providers not accepting Medicare assignment)
x
x
Foreign Travel Emergency
x
x
x
x
x
x
Out-of-Pocket Maximum
$4,660
$2,330

* Plan F includes a high deductible option where $2000 is required before benefits are paid.


5 comments

  1. What is the biggest drawback of buying F high deductible as opposed to Plan F or plan G besides the $2100 something deductible? Let’s assume I can afford the deductible. The plan I am considering has a premium of $70/mo for high deductible F, $221 for plan F.

  2. Bob, As long as the deductible is not an issue there isn’t any.

  3. Thank u for quick response! Another question if I may…any thoughts when choosing a standard or select plan as part of plan g or N?

  4. Bob, You would really want to research the provider network and decide if it would fit your lifestyle especially travel plans.

  5. Thank you once more.

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