Medicare Supplement Plan F is by far the most poplar supplement that seniors recognize. Plan F picks up all the gaps that Medicare Part A and B leave behind. With Plan F, 100% of all your expenses are covered. You will simply give your Provider your Medicare Card (Red White Blue Card) and then give them your Supplement Insurance Card. As long as it is a Medicare Approved Claim you are covered 100%.
Plan F Covers: Part A Deductible ($1,408) and Hospital Coinsurance & Part B Deductible ($198.00) and 20% of Medicare approved amounts.
Plan F Outlook: POOR: Beginning in 2020 Plan F will no longer be offered for sale. If you have Plan F now you can keep it but this may not be a wise decision. With Plan F not being offered to new recipients, premiums are likely to spike and become expensive.
Medicare Supplement Plan G was the most over looked supplement by Seniors even though it can save you hundreds of dollars over the years. The only thing that Plan G doesn't cover that Plan F does is the $198.00 Part B Deductible. Once the Part B deductible is paid Plan G and Plan F are identical. So here is the kicker, the Part B deductible has to be paid. Either you pay the insurance company to pay it for you by paying higher premiums or you simply pay the deductible yourself and save save save.
Plan G Covers: Part A Deductible ($1,408) and Hospital Coinsurance & 20% Medicare approved amounts after Part B deductible is paid.
Plan G Outlook: Good For Now While there is still a Plan F, Plan G will always be a better option. However it is likely that once Plan F is phased out Plan G will become the guarantee issue plan which will eventually start to creep up rate increases.
Remember, weather you stay with Plan F or move to the Plan G or Plan N, all these plans are standardized. This simply means that all Plan F's are the same and all Plan G's are the same and all Plan N's are the same no matter what company you choose. The only difference is the premium you pay. So make sure that you work with a broker to get multiply quotes for your area.
Medicare Supplement Plan N only differs from Plan G slightly. First you are still responsible for the ($198) Part B deductible. However you are now responsible for co-pays. The co pay at the doctors office can be as low as $0 but no more than $20. The co pay at the emergency room can be as low as $0 but no more than $50. (The emergency copay is waived if you are admitted.) Also with Plan N you are responsible for Excess Charges if your doctor does not accept Medicare assignment. (This should not be a deterrent because 96% of doctors accept Medicare assignment)
Plan N Covers: Part A Deductible ($1,408) and Hospital Coinsurance & 20% Medicare approved amounts after Part B deductible is paid.
Plan N Outlook: Excellent In my opinion Plan N will become the most poplar plan for healthy seniors who are already have a supplement plan and are looking to keep their cost down. It will also become poplar among those individuals turning 65 who are coming off their employer plan and are use to having copay's. If you are someone that is active and healthy and rarely see the doctor this may be the plan for you.