A Medicare Supplement Insurance plan can help pay for the things that Medicare Part A and Part B (Original Medicare) don’t cover, such as coinsurance, copays, and deductibles.

There are a variety of Medicare Supplement plans and it goes without saying that you want to choose the best option.

Plan F and Plan G are the most popular policies, as they provide the most coverage.

• What’s the difference between these two plans?
• What do they cover?

Below, you’ll find the answers to these questions and more so that you can choose the best Medicare Supplement plan for you.

Original Medicare is comprised of two separate parts:

• Part A, commonly referred to by Medicare beneficiaries as “hospital coverage”, covers costs that are associated with the medical care you would receive in an inpatient setting, such as hospital, hospice, or short-term care in a skilled nursing facility, as well as limited home healthcare.

• Part B, sometimes called “medical insurance”, covers the cost of health-related care and services you would receive on an outpatient basis; doctor appointments, outpatient therapy, and durable medical equipment, for example.

While Original Medicare does provide coverage for a lot of the health-related care and services Medicare beneficiaries receive, it doesn’t cover everything. That’s where supplemental insurance comes in.

Medicare Supplement Insurance is designed to cover the costs that Part A and Part B don’t cover; in other words, it’s intended to make the cost of healthcare more manageable.

Medicare Supplement Insurance is also referred to as Medigap, as it covers the “gaps” in Original Medicare.

There are 10 different Medigap policies that are sold by private insurance companies. All policies are standardized, which means they must provide the same coverage, no matter which state they’re purchased in or which private health insurance company they’re provided by.

The coverage Medicare Supplement plans provide varies. Plan F and Plan G are the most popular options, and therefore, can be considered the best, as they offer the most comprehensive coverage.

What is Medicare Supplement Plan F?

Plan F is considered the best Medicare Supplement plan overall, as it’s the most inclusive Medigap policy.

It provides 100 percent coverage for the following Original Medicare out-of-pocket expenses:

• Part A deductible
• Part A copay or coinsurance
• Part B deductible
• Part B premium
• Part B copays or coinsurance
• Part B excess charges (the amount providers who don’t accept Medicare charge over the amount Medicare has approved for a specific service)
• First three pints of blood transfusions for medical procedures

Plan F also covers 80 percent of the expenses that are associated with emergency medical care received within the first 60 days while visiting a foreign country.

Who is Eligible for Plan F?

In order to enroll in Plan F, you will need to be enrolled in both parts of Original Medicare. While Medigap Plan F offers the most inclusive coverage, as of January 1, 2020, new Medicare enrollees can no longer purchase this policy.

If, however, you were enrolled in Original Medicare before this date and you already had Plan F, you can keep it and your benefits will still be accepted.

If you were eligible for Original Medicare before this date but you have not yet enrolled, you may still be able to purchase Plan F.

Medicare Supplement Plan G is the most inclusive policy that newly enrolled Medicare beneficiaries can purchase.

In other words, if you were eligible for Original Medicare after January 1, 2020 and are no longer eligible to purchase Plan F due to the changes in Medicare Supplement enrollment rules, Plan G will cover most of your out-of-pocket expenses.

Plan G provides the same coverage as Plan F, with the only exception being the Part B deductible. This plan covers 100 percent of the following out-of-pocket expenses that are associated with Original Medicare:

• Part A deductible
• Part A copays or coinsurance
• Part B copays and coinsurance
• Part B excess charges
• Part B excess charges (the amount providers who don’t accept Medicare charge over the amount Medicare has approved for a specific service)
• First three pints of blood transfusions for medical procedures

Plan G also covers 80 percent of the expenses that are associated with emergency medical care received within the first 60 days while visiting a foreign country.

Since Medigap Plan G doesn’t cover the Part B deductible, you will have to cover it yourself. The Part B deductible changes each year. In 2023, the cost was $226, which was lower than the previous year, and the cost is expected to be similar in 2024.

Who is Eligible for Plan G?

Like Plan F, you need to be enrolled in both parts of Original Medicare in order to purchase Medigap Plan G.

The ideal time to purchase this coverage is during the Medicare Supplement Open Enrollment period, the 6 month period that starts on the month you turn 65 and you’re enrolled in Part B.

During this period, you will not be subjected to medical underwriting; in other words, private insurance companies cannot consider your current health status or medical history when determining your eligibility.

If you enroll after this 6 month period, medical underwriting can be imposed and insurance companies may charge you more for coverage, or they may deny your application.

How Much Does Medicare Supplement Plan F and Plan G Cost?

Like all Medigap policies, the cost of Medicare Supplement Plan F and Plan G varies.

Private health insurance companies determine the prices they charge for the policies they offer, and they take several factors into consideration when setting rates; your age, where you live, and your sex are just some of the factors that may be considered.