Plan F vs Plan G

Do you ever feel like shopping for Medicare Supplements is like shopping for a cell phone plan? There are so many options to choose from, but when you try to compare one plan to another, inevitably you forget what you were looking for in the first place.  The ads say, “Plan 1” is better than “Plan 2”, “Plan 3” is less expensive than “Plan 6”, “Plan 5” offers more, but “Plan “2” is not available with “Plan 7”.  It’s enough to turn you upside down, isn’t it? Lets learn a little about the difference between Plan F vs Plan G!

We get it! Who needs to go through all that confusion just to buy a Medicare Supplement plan?  That’s why MWG Senior Services wades through the Medicare abyss for you.  Your circumstances are unique to you, so let us help you find the plan best suited for your needs.

Here are a few simple truths we have discovered. Historically, Plan G has lower monthly rates than Plan F.  If you do not visit the doctor frequently, we typically recommend purchasing Plan G due to the less expensive monthly premiums. Below, we provide an example of the savings you can receive by using Plan G instead of Plan F.

What follows is a quote for a 65-year-old female from Dallas, Texas who does not use tobacco:

Plan F rate: $124.25        Plan G rate: $97.26

The monthly difference for choosing Plan G over Plan F is $27.00

The annual difference for choosing Plan G over Plan F, which includes a $183 deductible, is a savings of $140.88. Plan G is the most popular plan with our clients and they have enjoyed the savings.

Please note, after 2020, you will not be able to purchase Plan F, however it will not affect any current policyholders. The only difference between Plan F vs Plan G is the Part B deductible which is $183 for 2018. Once the deductible is met, Plan G works just like Plan F. Plan F and Plan G are the most frequently sold plans in the market for anyone on Medicare.

To request rates for Plan G, click the following link and fill out the form: CLICK HERE FOR PLAN G QUOTES or give MWG Senior Services a call at 877-759-5760.  One of our knowledgeable advisors would be more than happy to provide a side-by-side comparison of Plan F vs Plan G. We would love to help you find a plan that fits YOUR needs and help you save money.

Do you already have a Medicare Supplement? No worries! We can still help you find a cheaper option. MWG Senior Services is here to help you navigate the Medicare maze.

 

Medicare Supplement Plan F

Understanding Medicare Supplement options can be confusing.  That’s why MWG Senior Services is dedicated to helping you navigate the Medicare maze!

You may be familiar with the Medicare Supplement Plan F.  Although Plan F is the most popular plan because it pays everything after Medicare pays, historically it has higher rate increases.  In addition, Plan F will be phasing out in 2020 along with Plan C.

Plan G is another popular plan and can even save you money!  Everyone likes to save money, right?  What follows is a comparison of how you can save money should you choose Plan G over a Plan F.

Plan F

Plan G

Covers Part B Deductible Doesn’t Cover Part B Deductible
Historically higher rate increases Historically lower rate increases
Higher premiums More affordable premiums
Phasing out in 2020 Will still be on the market in 2020

The Medicare Supplement Plan F is a great plan to have if you go to the doctor frequently, because it picks up the remaining 20% after Medicare pays.  However, if you are a healthier individual, Plan G can not only save you money each month, but also in the long run.

Plan F and Plan C are going away in 2020 for any new Medicare beneficiaries, therefore, we predict, this will cause higher rate increases for those that already have either of these plans.  If that happens, call MWG Senior Services and let us help you find a cost effective alternative.

Yes, the Medicare Supplement Plan F may be the most popular plan, but it may not be your best option.  We can help you find a plan that fits your needs. The team at MWG Senior Services will be happy to help you change your current Medicare Supplement or even assist you in signing up for a Medicare Supplement for the first time!

Call MWG Senior Services at 877-759-5760 or email us at seniorservices@morganwhite.com.  To request a Medicare Supplement rate now, click HERE!

 

 

Medicare Health Insurance

We are MWG Senior Services and we want to tell you about Medicare Health Insurance and what they pay, and what you can expect to pay if you are ever admitted to the hospital. Medicare Health Insurance, Parts A and B, covers 80% of your medical expenses, leaving you responsible for the remaining 20%. For example, if you are admitted as an inpatient at a hospital, 20% would be equivalent to $335 per day for days 61-90 of each benefit period. For days 1-60, there is no cost for coinsurance for each benefit period.  For days 91 and beyond, the cost is $670 per each “Lifetime Reserve Day” after day 90, for each benefit period (up to 60 days over your lifetime). Beyond the lifetime reserve days, you will pay all cost. The Part A hospital inpatient deductible and coinsurance for 2018 is $1,340.

Medicare Health Insurance Part A and B and what they cover:

Part A covers:

  • Hospital Care
  • Skilled Nursing Facility Care
  • Nursing Home Care (as long as custodial care isn’t the only care you need)
  • Hospice
  • Home Health Services

Part B Covers things like:

  1. Ambulance Services
  2. Durable Medical Equipment
  3. Mental Health
  4. Inpatient
  5. Outpatient
  6. Partial Hospitalization
  7. Limited Outpatient Prescription Drugs

Since original Medicare only covers 80%, you can get a Medicare Supplement policy which would cover the cost of the other 20% you are responsible for.

Medicare Health Insurance/ Medicare Supplements:

  • Covers some of the health care cost that original Medicare doesn’t cover such as copayments, coinsurance, and deductibles.
  • Some Medigap policies also offer coverage for services that original Medicare doesn’t cover, like medical care when you travel outside the U.S.
  • Medigap policies generally DO NOT cover long-term care, vision or dental care, hearing aids, eyeglasses or private-duty nursing.

If you are in the market for a Medicare Supplement to help cover your 20%, we are here to help. Just click this link and to see rates in your area. Click here to view Medicare Supplement rates in your area.

Our advisors are always here to answer any questions you have, you can call MWG Senior Services at 877-759-5760 or email us at seniorservices@morganwhite.com.