Medicare Supplemental Insurance Plan G Overview
Medicare Supplement Plan G
Here's a few things you should know about plan "G" compared to Plan "F".
Simple math can set you free in most cases. In general, plan "G" costs around $35.00 less per month than "F", and there is only one difference in benefit. Plan "F" pays the part B deductible ($162 annually) on your behalf, while plan G requires you to write that check yourself. But take a close look: You'll be paying an average of $420.00 per year for the convenience of having a $162 check written for you. Not every carrier offers plan G however, so you might have to poke around.
Everyone likes a plan that leaves no bills behind, and that alone is the number one reason plan F is far and away the most written policy each year. The benefit pays both part A and Part B deductibles, all co-insurance costs from part B (20%), and also covers any excess charges that may be incurred from a non-participating doctor. Basically, you pay your premium to the carrier…and you'll never see a bill from a Medicare approved charge….not to shabby. Medicare Supplemental Plan G however requires you to pay "out of pocket" for part B.
Remember this: You can't assume you will be healthy enough to move between plans or carriers in the future. While a plan F may look attractively priced and sound convenient...the price may go up dramatically. Take a good look at plan "G" before settling down.