Medigap Plan F and G are two of the most popular Medicare Supplement Insurance options, designed to help cover the healthcare costs that Original Medicare doesn’t fully pay for, such as deductibles, copayments, and coinsurance. Both plans offer extensive coverage, making them appealing choices for those who want to minimize out-of-pocket medical expenses. However, there are key differences in coverage, cost, and eligibility that can significantly impact which plan is best for you. Understanding these differences is essential for making an informed decision. This guide explores the features of Medigap Plan F and G, comparing their benefits to help you choose the right plan based on your healthcare needs and budget.
What is Medigap Plan F?
Among all the Medigap plans in the market, Plan F offers the most comprehensive coverage. It may cover all (or virtually all) out-of-pocket Medicare cost-sharing for items like deductibles, copayments and coinsurance, allowing policyholders to pay little or nothing beyond their monthly premium in medical costs. As such, it has become especially favored by those who appreciate uniformity in their healthcare costs and wish to prevent surprise medical expenses. But Plan F is no longer available to Susania and other new Medicare enrollees. Only those who were ever eligible for Medicare before January 1, 2020, can buy or keep Plan F, so this eligibility restriction has played a role in slowly phasing out Plan F. However, for those who are eligible, Plan F is (and will remain) one of the most high-powered options available!
What is Medigap Plan G?
Like Plan F, Medigap Plan G has all the same benefits, but with one major exception — it does not cover the Medicare Part B deductible. Policyholders must pay this deductible out of pocket annually. After you have met the deductible, Plan G covers almost all Medicare-approved expenses, including coinsurance and excess charges. It is an attractive option for those who did not meet the eligibility cutoff for Plan F, or for those who want to pay a lower premium and are willing to pay out-of-pocket up to a reasonable amount annually. Also, as Plan F is being phased out for enrollees currently eligible for Medicare, Plan G is still available to all new Medicare enrollees, so it’s more accessible to a larger group of people entering the Medicare system.
Difference Between Plan F and Plan G
When it comes to comparing Medigap Plan F and G, the key differences are coverage, price, and availability. Plan F has full coverage, which pays 100% of Medicare-approved charges, including the Part B deductible. This means policyholders pay no out-of-pocket costs other than the premium. Plan G offers almost identical coverage but does not cover the Part B deductible, which you must meet every year before your coverage goes into full effect.
As far as the cost is concerned, Plan F has higher premiums due to its extensive coverage, making it suitable for people who want predictable costs. By contrast, Plan G typically has lower premiums, but members have to pay the Medicare Part B deductible every year, making it a cheaper option for those willing to pay some out-of-pocket costs.
The two plans also differ in availability. Plan F was available to new Medicare enrollees until Jan. 1, 2020, after which, only those who were already eligible for Medicare before Jan. 1, 2020, can purchase or hold Plan F. Conversely, Plan G is still available for any new or current Medicare enrollees, which means its generally more accessible for those who might be signing up for Medicare after the cutoff date.
Pros and Cons
Plan F:
| Pros | Cons |
| ✅No out-of-pocket medical costs | ❌Higher monthly premiums |
| ✅Ideal for those wanting predictable expenses | ❌Not available to new Medicare enrollees |
Plan G:
| Pros | Cons |
| ✅Lower premiums compared to Plan F | ❌Must pay Part B deductible annually |
| ✅Similar coverage after Part B deductible |
Who Should Choose Which?
The choice between Medigap Plan F and Plan G largely depends on individual healthcare needs, financial preferences, and eligibility status.
Plan F is best suited for those who prioritize full coverage and want to avoid any out-of-pocket medical expenses. It is ideal for individuals who frequently visit healthcare providers or require ongoing medical treatments, as it covers all Medicare-approved costs, including the Part B deductible. However, because it is no longer available to new Medicare enrollees after January 1, 2020, only those who qualified for Medicare before this date can choose or retain this plan. For eligible individuals who value peace of mind and predictable healthcare expenses, Plan F remains an excellent option despite its higher premiums.
Plan G is a better fit for those who are comfortable paying the annual Medicare Part B deductible in exchange for lower monthly premiums. It is an attractive option for individuals who are generally healthy or have fewer medical needs but still want comprehensive coverage once the deductible is met. Additionally, Plan G is open to all Medicare enrollees, making it a practical and widely accessible choice. For those looking to save on premiums while maintaining substantial coverage, Plan G offers a balanced and cost-effective solution.
Read more: Medicare Advantage vs. Supplement
Conclusion
Choosing between Medigap Plan F and G comes down to personal healthcare needs, financial preferences, and eligibility. Plan F offers full coverage with no out-of-pocket expenses beyond the monthly premium, making it ideal for those who value complete cost predictability. However, it is only available to individuals who were eligible for Medicare before January 1, 2020. On the other hand, Plan G provides nearly the same comprehensive coverage but requires paying the Medicare Part B deductible, offering lower premiums and greater accessibility for new enrollees. Understanding these key differences can help you make a well-informed decision that ensures both financial security and peace of mind when it comes to managing healthcare costs.
