Here are some of the reasons to switch from Plan F to G. Plan G is significantly less costly than Plan F. You could save as much as $50 a month switching from F to G. Even though you have to pay the one-time $198 for the Part B deductible on Medigap G, the monthly savings will be worth it, long-term.
If you enrolled in Plan F before 2020, you will be “grandfathered” into the plan. This gives you the choice to keep the plan past 2020.
The goal of discontinuing these plans is to make all Medicare beneficiaries have some out-of-pocket spending when they use healthcare services. Both Medigap Plans C and F cover Medicare's Part B deductible, which in 2019 is $185. This makes these plans into something called “first dollar coverage.”
Policies C and F are the most comprehensive, but they generally cost more. See the Medigap Plan Benefits Chart for a fuller explanation of what each policy covers.
Summary: Medicare Supplement Plan F is the most comprehensive of the standardized Medicare Supplement plans available in most states. These plans are being phased out, starting in 2021.
Over the years we've heard from many providers that do not like them because, they say, their payments come slower than they do for Original Medicare. Many Medicare Advantage plans offer $0 monthly premiums but may mean more out-of-pocket costs at the doctor.
Since Medicare Advantage is plenty different from Original Medicare, you're entitled to a risk-free trial during your first year in the Medicare Advantage program. At any point during your first year in a Medicare Advantage plan, you can switch back to Original Medicare without penalty.
What is the deductible for Plan G in 2021? The only deductible that is involved when you have Plan G is the Part B annual deductible, which is $203 in 2021.
The national average cost for Medigap Plan F is $1,712 annually, which is around $143 a month.
The Best Medicare Advantage Plans of 2021
- Best User Quality: Cigna.
- Best User Experience: Humana.
- Best in Educational Content: Aetna.
- Best for Bonuses: AARP.
- Best for Simplicity and Clarity: Blue Cross Blue Shield.
Medicare Supplement (Medigap) insurance Plan C is one of the most comprehensive of the 10 standardized Medigap insurance plans available in most states. Out of the 10, only Medigap Plan F offers more coverage. Medigap Plan C covers most Medicare-approved out-of-pocket expenses.
Medicare Supplement plan cost comparison
| Washington, D.C. | Aurora, CO |
|---|
| Plan C | $124–$335 | $159–$406 |
| Plan D | $118–$209 | $137–$259 |
| Plan F | $125–$338 | $157–$464 |
| Plan F (high deductible) | $27–$86 | $32–$96 |
Medicare Advantage Plans, sometimes called “Part C” or “MA Plans,” are offered by private companies approved by Medicare. Medicare Advantage Plans may offer extra coverage, such as vision, hearing, dental, and/or health and wellness programs. Most include Medicare prescription drug coverage (Part D).
Medigap Plan C is a supplemental insurance coverage plan, but it's not the same as Medicare Part C. Medigap Plan C covers a range of Medicare expenses, including the Part B deductible.
Is Medigap Plan G guaranteed issue for those new to Medicare in 2020? The answer is yes. Medigap Plan G will still be guaranteed issue for “newly eligible” members of Medicare.
Medicare Part C has not been discontinued. However, Medigap Plan C is no longer available to new Medicare enrollees from January 1, 2020. Medicare is a federal insurance plan for people aged 65 and older.
Medicare Supplement Plan G is almost identical to Plan F, except for the Part B deductible. Ultimately, Plan G has the same benefits as the Plan F, except for coverage for the Part B deductible ($203 for 2021). Once you pay the Part B deductible, the coverage is the same for both plans.
Since the Plan F will no longer be an option after January 1, 2020, what will replace it? The answer is Plan G. Plan G will be the new go-to Guaranteed Issue plan. Also, there was a High-Deductible Plan F that's also going away, and a High-Deductible Plan G will be replacing it.
Plan G also covers some of the expenses related to your Medicare policy. For example, Medicare Part A has a deductible of $1,408. If you don't have Plan G, then you'll pay that deductible out of pocket. But with Plan G coverage, your health insurer would pay for the entire deductible.
Are all Medigap Plan G the Same
Because the federal government standardizes Medigap plans, Plan G provides the same benefits regardless of the carrier. However, monthly premium rates vary per state & carrier.Is Medigap Plan G Going Away? No, Plan G is not going away. Newly eligible enrollees can no longer get Plan C or Plan F because of the elimination of first-dollar coverage plans. Plan G is not a first-dollar coverage plan and is here to stay.
Medigap Plan N covers 100% of the Medicare Part B coinsurance costs, with the only exception being that it requires a $20 co-payment for office visits and up to $50 for emergency room visits. Medigap Plan N includes the following benefits: Part A hospice care copayment or coinsurance.
Plan F will cover the costs of prescription drugs administered at the hospital. However, Plan F will NOT cover prescription drugs that are prescribed by a doctor and taken at home. You'll want to enroll in a Part D prescription drug plan to receive the coverage you need for such prescriptions.
