NW Florida Medicare Serving the Panhandle


Medicare Plan G: Save Money Over Time

When choosing a Medicare Supplement plan, you need to compare Medicare Supplement options. This process begins and ends with deciding which plan is best for you in both coverage and in cost. As a result of federal standardization, every Medicare Supplement plan letter is the same in terms of coverage, no matter which carrier you choose. The only difference from one carrier to the next is the monthly premium. Plan G is a popular choice.

 What is Medicare Supplement Plan G and what does it cover?

Plan G can covers almost every cost that remains after Original Medicare pays its part. As the chart below illustrates, the main difference between Plan G and the highest level of coverage, Plan F, is the Medicare Part B deductible. With Plan G you are responsible for this annual amount which is $183 in 2017.

Medigap Plans

Who should choose Plan G?

Plan G is one of the most popular options amongst our clients. This is due, in part, to the fact that Plan G offers similar coverage to Plan F, but can have lower premiums. Most people who choose Plan G do so after calculating the difference in premiums between Plan G and Plan F and then accounting for the annual deductible. Plan G historically has a much lower premium increase every two-three years of about 3%.

If the premium for Plan G is low enough to save you money even after having paid the deductible, it may be a better option.

Who shouldn’t choose Plan G?

There are two reasons why you may not opt for a Plan G.

1) Premiums for Plan G for you are not lower than Plan F after accounting for the annual deductible. (But, with premium increases averaging 9-12% every two-three years that difference will quickly skyrocket).

2) You are sure you will not visit the doctor’s office during the year and, thus, will not pay the Part B annual deductible. ( Not really a factor because you never know when you might go to a doctor).

Our recommendation:

Plan G is a superb option, giving you a great amount of coverage while likely saving you money over a Plan F. Before deciding which plan you think is the best fit for you, take careful consideration of your budget and healthcare needs. I personally like this plan the most and it is my personal choice and recommendation. Call us at 800-708-5810 to get a free consultation.

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