If you are a Medicare recipient or are about to become one, you may have noticed that Original Medicare (Parts A and B) does not cover all of your medical costs. Therefore, you will likely need a Medicare Supplement Plan to help cover out-of-pocket expenses. The good news is, you have plenty to choose from, there are 10 different plans available all with different levels of coverage. However, Plan G and Plan N are currently the most popular. Choosing between these two plans can be hard because they do have a lot in common, in fact they have more similarities than differences. It is essential to understand what each plan covers. Being misinformed can leave you with extra unnecessary out-of-pocket costs. So, let’s compare these plans so you can get an idea of which one fits you better.
What Both Plans Cover
Medicare Part A deductible– In 2023, if you are hospitalized for inpatient care, you have to pay the Part A deductible of $1,600 per each 60-day benefit period. The Benefits period restarts after you have been out of the hospital for 60 consecutive days. This is not an annual deductible, you could end up paying this deductible more than once in a single year. Having these plans cover this deductible means it’s not coming out of your pocket.
Part A hospital care and coinsurance – Part A partially covers hospice care leaving you copays or coinsurance. Certain prescription drugs will also have a copayment. However, you will be responsible for all of these copayments without a Medicare Supplement Plan that covers them.
Part B coinsurance – Medicare Part B requires a coinsurance payment for each covered service. Meaning Part B will pay 80% of the Medicare-approved amount for each covered service. Leaving you to pay the remaining 20% as your coinsurance payment (after you meet your annual Part B deductible). Plans N and G will both cover 100% of the Part B coinsurance.
Blood – If you need a blood transfusion for any reason, Original Medicare will only start covering the pints of blood after you have already paid for the first 3. Plans G and N will cover those first 3 pints for you so you’ll never have to pay for blood.
Skilled Nursing Facility Care – Medicare Part A will require you to pay a daily coinsurance if you are admitted for more than 20 days. As of 2023, your coinsurance could reach up to $200 a day. Thankfully, Plans G and N cover this coinsurance entirely.
Foreign Travel Emergencies – Typically, Original Medicare does not cover any medical care that you receive outside of the U.S. Plans G and N will both cover 80% of the costs of qualifying emergency medical care if you need it outside of the country.
What Neither of Them Cover
The only benefit that both of these plans will not cover is the Part B deductible. This is because of the Medicare Access and CHIP Reauthorization Act, or MACRA. This law altered Medicare with a modification to regulations that say plans are not allowed to offer any first-dollar coverage. This is also why Plans C and F are no longer available to new Medicare beneficiaries because both plans offered the Part B deductible coverage.
The Coverage Differences
Now that we know what benefits these plans both have in common, let’s look at the differences between them.
Benefits
Doctor Visit Copays – While Plan G will cover 100% of doctor visit copays, Plan N will not. With Plan N you will still have a $20 copay for each doctor’s visit. Therefore, if you visit your doctor fairly often this could really add up over the course of the year.
Emergency Room Copay – First, keep in mind that visiting the emergency room and being admitted are two different things. Just coming to the emergency room and then being released will cost you a $50 copay with Plan N. However, with Plan G there are no additional costs or copays for an emergency room visit.
Medicare Part B excess charges – Doctors and other healthcare providers can sign an agreement to accept “Medicare Assignment”. Which is essentially a fee schedule between Medicare and the provider saying that Medicare believes services should cost a specific amount and the doctor agrees to accept those prices. If the healthcare provider does not sign this agreement then they are allowed to charge up to 15% more than the Medicare-approved amount. That 15% is what is known as the Part B excess charge. Excess charges are one of the most significant coverage differences between Plan N and G as it could leave you with significantly higher medical expenses if it’s not covered. Plan G covers 100% of these excess charges whereas Plan N doesn’t cover them at all.
Costs
Cost is another difference, obviously even though the coverage differences are slight any plan with more benefits will be more expensive even if it’s only by a small margin. The price of Medicare Supplement Plans vary based on your location, age, and smoking status. In areas with higher costs of living, monthly premiums are generally more expensive. In general, Medicare Supplement Plans are priced in three ways: community-rated, issue-age-rated, and attained-age-rated.
Community-rated
Everyone, regardless of age, who has the same Medicare Supplement Plan pays the same monthly premium under this pricing structure. Your premiums may increase due to inflation and other factors but never due to your age.
Issued-age-rated
With this structure, your Medicare Supplement Plan premium is baked on your age at the time you purchase it. The younger you are the lower your premiums will be, and they will not increase with your age. Just like with community-rated, these plans will only ever become more expensive due to inflation and other outside factors but not your age.
Attained-age-rated
This type of pricing will calculate your premium based on your current age and does increase as you get older. Your premiums will be lower when you’re younger, but will steadily rise with your age. Increases can also happen due to inflation and other factors as well as your age.
Having Said that Plan G premiums range between $100 and $300 on average. Now, if you’re interested in a Plan G plan but the premium is a bit too expensive there is an alternative. Plan G also has a high-deductible version that offers all the same benefits with a lower premium. In exchange for the lower monthly cost you have to meet a higher deductible than you would with the standard Plan G. As for Plan N the average premium is between $120 and $180 as of 2023. When you factor in all the variables that can affect your premium Plan N can cost as low as $70 or be as expensive as $400.
So Which One Is Better?
The answer to this all depends on you. But in our opinion Plan G is the most valuable. Compared to Plan N, it provides the most coverage and saves you a significant amount of money. However, if you don’t need to visit your doctor frequently, you may easily be better off with Plan N. Overall if you’re a healthy person on a tight budget Plan N does have fantastic benefits. Although, even if you only visit the doctor a few times a year, Plan G does offer that extra bit of protection for only a little bit more money. With Plan G the only out-of-pocket Medicare cost you have to worry about is the $226(2023) Part B deductible.
How To Enroll
The best time for you to enroll is during your Medicare Supplement Open Enrollment Period. This is because if you enroll during this time you automatically receive guaranteed issue rights. Meaning you can’t be denied coverage or charged more due to your health or any pre-existing conditions. You only get one Medicare Supplement Plan Open Enrollment Period, so it is important to make use of it while you have it. The Medicare Supplement OEP begins once you turn 65 and enroll in both Medicare Part A and Part B; it continues for 6 months.
Need Some Help?
Financial planning and figuring out which benefits you need and don’t need can be time-consuming and frustrating. That’s what EZ.Insure is here for. A Medicare agent can do all of that research and compare plans for you. As well as take the time to get to know your budget and explain everything that will affect you personally. This means you’ll have professional help ensuring you get the best coverage. EZ.Insure provides you with your own personal agent. You’ll never have to worry about bouncing from agent to agent, yours will always be there to answer your questions, compare plans, and enroll you all for no extra cost. They can even help you after you’ve enrolled by reviewing your coverage annually or helping submit claims. To get started with your agent today simply enter your zip code in the bar below or give us a call at 877-670-3602.
Original Medicare, which is made up of Medicare Parts A and B, pays for a portion of the health care services you may need. However, it does not cover the cost of everything, and you may have to pay some things out of pocket. Thankfully, Medicare Supplement plans can help with this. These plans fill in some of the “gaps” in Original Medicare and will help you save money in the long run by paying for certain Medicare deductibles, copays, coinsurance, and other costs. Two of the most comprehensive Medicare supplement plans are Plan F & Plan G. In order to decide if one of these plans might be a good fit for you, you will need to explore what they cover and how much they cost.
Medicare Supplement Plan F
Medicare Supplement Plan F is one of the most popular Medicare Supplement Plans because it offers the most coverage out of all of them. But unfortunately, it’s no longer available to everyone on Medicare.
When compared to the other Medicare Supplement Plans that are currently available, Medicare Supplement Plan F has the most benefits and fills the coverage “gaps” left by Medicare Parts A and B best. For a low monthly premium, this plan lets you go to a doctor’s office or hospital, get approved treatment, and leave without paying anything out of pocket.
Plan F also covers other Medicare-approved expenses that aren’t related to Parts A or B. This includes coverage for emergencies that happen while you’re traveling abroad and coinsurance for skilled nursing facilities. Plan F is also notable because it is one of only two plans that covers Medicare Part B excess charges.
Plan F can only be bought if you had qualified for Medicare before December 31, 2019. Anyone who has become eligible after that date is unable to purchase Plan F. Even if you qualify, it can be a lot more expensive than other Medicare Supplement Plans, so you may end up spending more than the value of the extra coverage you’d get.
What Plan F Covers
As was said above, Medicare Supplement Plan F covers all of the services that Medicare Parts A and B cover, but with less out-of-pocket costs. If your doctor accepts Original Medicare and it is your main insurance, Medicare Supplement Plan F will cover everything that Original Medicare doesn’t. That includes:
Part A hospital deductible and coinsurance
Hospital costs up to an additional 365 days after Medicare benefits are exhausted
Part A hospice care coinsurance or copayment
Blood (the first 3 pints)
Other Medicare-approved expenses associated with Part A hospitalization
Medicare Part B 20% coinsurance and copayments
Medicare-approved doctor’s office fees
Part B deductible
Medicare Part B excess charges
Other Medicare-approved expenses associated with Part B coverage
Plan F Costs
Medicare Supplement Plan F may have higher premiums than other Medicare Supplement Plans, but that’s because it has the most benefits compared to the plans. Medicare Supplement Plan F costs about $230 per month on average, but premiums can be anywhere from $150 to $400 per month or more. This is because many things can affect the price of your premium, such as your zip code, gender, age, whether or not you smoke, and so on.
Medicare Supplement Plan G
Plan G is one of the best options for people who don’t qualify for Plan F. Medicare Supplement Plan G is a top choice for anyone who has Medicare. If you choose Medicare Supplement Plan G, your out-of-pocket costs will usually be a fraction of what they would be if you only had Original Medicare, since you will only be paying one low premium price. Then, once you’ve paid your annual Part B deductible, the rest of your health care costs for the rest of the year will be covered in full.
What Plan G Covers
Medicare Supplement Plan G covers a wide range of services and helps you save money when you use Medicare-approved medical services. As previously mentioned, one of the best things about Plan G is that it pays for all Medicare-related costs after your Part B deductible has been met. Many other Medicare Supplement Plans, on the other hand, require you to pay more out-of-pocket costs after you’ve paid your Medicare Part B deductible.
All of this means that because Medicare Supplement Plan G covers a great quantity, it helps you keep your out-of-pocket costs low. Here’s a breakdown of exactly what’s covered:
Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up
Part A deductible
Part A hospice care coinsurance or copayment
Part B coinsurance or copayment
Part B excess charges (if a provider is permitted to charge more than Medicare’s approved amount and does so)
Blood transfusion (first 3 pints)
Plan G Costs
Plan G costs different amounts depending on where you live, your age, whether or not you smoke, and your gender. For example, the monthly premiums for Medicare Supplement Plans are usually higher in places where the cost of living is higher. So, the monthly premiums for Medicare Supplement Plan G are usually between $100 and $300.
How They Compare
Plan F and Plan G are two of the most popular Medicare Supplement plans that people who qualify for Medicare can choose from. Both plans cover costs in addition to what Original Medicare does, but there are some differences between them that you should think about when deciding which one is best for you. Looking above you’ll notice they cover a lot of the same things:
Part A deductible
Part A coinsurance
Part B coinsurance or copayment
The first three pints of blood used in a transfusion
Skilled nursing facility coinsurance or copayment costs
Hospice care coinsurance or copayment costs
Medicare excess charges (up to 15% more than the amount Medicare says a service is worth)
Foreign travel emergencies
Plan F covers the annual Medicare Part B deductible, but Plan G does not. This is the main difference between the two plans. Even though Original Medicare Part B deductibles are getting more expensive over time, it may still make financial sense to choose Plan G because it usually has a lower monthly premium than Plan F.
Plan F and Plan G have similar coverage, but Plan G is the most complete Medicare Supplement plan for new Medicare recipients. This is another important difference between the two.
Plans F and C are no longer available to new Medicare recipients because of new laws passed by the federal government. You can still apply for Plan F if it’s available where you live and if you were eligible for Medicare before 12/31/19. You are able to keep using Plan F if you obtained it before 2020.
Pros and Cons
As with all insurance options, Plan F and Plan G come with both advantages and disadvantages. So let’s take a look at what these are.
The pros:
Plan F is the best Medigap plan because it covers more Medicare-approved costs at 100% than any other plan. It also gives you the option of choosing a high deductible, which lets you pay lower premiums while still being covered for all approved costs once you’ve met your deductible.
Plan G covers almost all of the same approved Medicare health care costs as Plan F, except for the annual deductible for Medicare Part B. Before your insurance pays for Part B, you will have to pay for it out of your own pocket. Still, the premiums may be cheaper than Plan F, depending on where you live and how much coverage you want. Plan G also has a version with a high deductible that usually has even cheaper monthly premiums.
The cons:
Unfortunately, both plans don’t cover prescription drugs. Original Medicare recipients can add a Medicare Part D prescription drug plan, which only covers prescription drugs, or they can sign up for a Medicare Advantage plan (also called Medicare Part C), which covers their Original Medicare health benefits and may cover prescription drugs.
If you choose the version of either plan with a high deductible, you may have to pay more due to the need for more money up front before any coverage is able to begin.
FAQs
Which is better?
Plan F covers a little bit more than Plan G, but not by much. Its premiums and deductibles are higher than those of Part G. In the end, the best choice will depend on what you need and how much money you are able to spend. If you are thinking about either plan, you should talk to a Medicare agent to find out which one they feel is best for you.
Should I switch from Plan F to Plan G?
It can be a good idea to switch from Plan F to Plan G depending on your needs. If you switch to Plan G, which is usually less expensive than Plan F, you may save money on premiums. In the end, it depends on what you need and how much money you have. You can switch plans at any time, but if you don’t have “guaranteed issue rights,” the insurance company can use “medical underwriting” to figure out how much your premiums will be and may even refuse to cover you.
Why Is Plan F Discontinued?
Federal law says that Medicare Supplement plans can no longer pay for the Medicare Part B deductible. The goal of the change is to cut down on visits to the doctor that might not be necessary, which will save money on health care.
Working With EZ
When looking for a Medicare Supplement Plan, it’s important to compare the costs and benefits of each one. That means you’ll have to do a lot of research. Which can be time consuming as you’ll have to call multiple insurance companies to get price quotes. However, if you work with an agent from EZ, you can compare prices in half the time. Working with a licensed agent gives you access to many Medicare Supplement Plan carriers and plans in one place. In addition to giving you price comparisons, your agent can tell you how each plan is different. Also, your agent can help you compare out-of-pocket costs with premium costs to figure out which plan will save you the most money over time. Call us today at 877-670-3602. Or enter your zip code in the bar below to start looking for a Medicare Supplement Plan.
Medicare Supplement Plans are a popular go-to for Medicare beneficiaries because they help save a lot of money on out-of-pocket costs. Since we are in the middle of the Medicare Annual Enrollment Period (AEP), you might be looking into a Medicare Supplement Plan for just that reason, and you might be wondering what your best options are. There are 10 different Medicare Supplement Plans to choose from, but there are a few top favorites that you need to know about.
A Medicare Supplement Plan covers all of the gaps in Medicare. Medicare only covers 80% of your medical costs, leaving you to cover the remaining 20% out-of-pocket. Medicare supplement plans will cover things like deductibles, copays, and coinsurance.
The coverage and plan letters for Medicare Supplement Plans in 2023 are not changing, but premium prices will change. If you are new to Medicare, or changing Medicare Supplement Plans to save money, you will most likely want to enroll in one of the top-rated, most popular plans in 2023:
Medicare Supplement Plan G– Medicare Plan G is the most popular Medicare Supplement Plan because of the coverage that it offers for both Parts A and B. With Medicare Plan G, you will only have to pay for one thing out-of-pocket: your annual Medicare Part B deductible. Once you meet your deductible, Medicare Part B will kick in and pay 80% of the rest of any Medicare-approved expenses; Medicare Plan G will cover the remaining 20% coinsurance, with no limit for the calendar year.
High Deductible Plan G– You also have the option of a high-deductible Medicare Supplement Plan G. These plans are the same as Plan G, except you will have a larger deductible to meet, with a smaller monthly premium than original Plan G.
Medicare Supplement Plan N– With Medicare Plan N, you will have to meet your annual Medicare Part B deductible, just like you would with Plan G. The difference is that with Plan N, you may have to pay a small co-pay for each doctor visit if you return to the doctor throughout the year. The co-payment is normally not more than $20 per visit. If you go to the emergency room and are not admitted to the hospital, you will have a $50 copay. In addition, Medicare Part B excess charges are not covered in Plan N.
Need More Information?
If you are interested in getting a plan from a top-rated Medicare Supplement insurance company, EZ can help. We work with all of these companies, and we will provide you with a highly trained licensed agent who will compare all available Medicare Supplement Plans to find the best one for you. You deserve the best, so we’ll make sure you get the best. To get free Medicare Supplement Plan quotes, enter your zip code in the bar above, or if you prefer to speak to an agent directly, call 888-753-7207. Our agents are ready to help!
Many of us have friends or family members who follow a gluten-free diet, and Celiac disease might be the reason behind it. Celiac disease is an immune reaction to gluten, a protein found in wheat, barley, and rye. If you have Celiac disease, eating gluten will trigger an immune response in your intestine, which can often be painful, causing diarrhea, bloating, constipation, weight loss, fatigue and more. Unfortunately there is no cure for this condition, but because May is Celiac Awareness Month, we want to shed light on how older adults with Medicare can get help if they are struggling with this disease. There are currently limits to what Medicare will cover in regards to Celiac disease, but fortunately, there is now a proposed legislation that would make it easier for Medicare beneficiaries to get treatment.
Celiac Disease Explained
People who have celiac disease have to avoid eating gluten, which is a protein found in wheat.
Celiac disease, as mentioned, is a sensitivity to gluten. It affects 1 in 100 people worldwide, and it is estimated that almost 3 million Americans might have it without even knowing! People with Celiac disease might develop nutrient deficiencies and malnutrition because their body limits the absorption of nutrients. There is no cure for the disease other than to avoid eating gluten, which can be hard for many people without doing extensive research or getting help from a registered dietitian.
The Medicare Nutrition Therapy Act
Currently, Medicare does not allow beneficiaries to access help from nutritionists for Celiac disease; only diabetes and renal disease qualify for medical nutrition therapy under Medicare Part B. So, unfortunately, this means that many older adults do not have access to a registered dietitian who can explain to them what they can eat and should avoid. However, a new bill that has been introduced in Congress, the Medicare Nutrition Therapy Act, is aiming to change things and allow beneficiaries to get treatment from registered dietitians.
“The only treatment for Celiac disease is the diet. And the person that’s best trained to help that patient navigate a gluten-free diet is a dietitian,” says Anne Lee, EdD, RDN, Instructor in Nutritional Medicine at the Celiac Disease Center at Columbia University in New York.
She says providing insurance coverage is the right thing to do, “because it ensures better healthcare for our patients. Many patients can’t afford the additional cost of a dietitian visit on top of the physician visit, on top of the cost of the gluten-free food, on top of the additional costs of just having Celiac disease.”In addition, the current Senate version of the bill would allow physician assistants, nurse practitioners, clinical nurse specialists and psychologists to refer patients to nutritionists. This would mean that Medicare beneficiaries would not have to rely on their primary care physician to refer them. Making it easier for older adults to get consultations with a dietitian is extremely important, as a regulated diet is currently the only treatment available for those with Celiac disease.
If you have an autoimmune condition such as Celiac disease, you should consider a Medicare Supplement Plan, because you will need as much coverage as possible to help cover the cost of treatment. Seeing a registered dietitian can be costly, but a Medicare Supplement Plan can help with medical expenses so you will not have to worry about how to pay for your treatment.
Currently, Plan G is the most popular Medicare Supplement Plan on the market because it offers the most coverage, but there are 10 different Medicare Supplement Plans that can be tailored to your needs, each with different coverage options at different price points. If you are interested in a Medicare Supplement Plan, EZ can compare plans in your area at no cost. Our licensed agents are ready to help you save money and get you the most coverage for your buck. To get free instant quotes, enter your zip code in the bar above, or to speak to a licensed agent, call 888-753-7207. No obligation.
Medicare has major coverage gaps, most notably that Part B pays only 80 percent of covered expenses, and the other 20 percent must be paid by the consumer. When you purchase a Medicare Supplement plan from a private insurer, you close that gap. These supplement plans have been growing in popularity over the years, mainly plans C and F. Congress has ruled to eliminate these two plans in the year 2020.
As of January 1, 2020, some popular Medicare Supplement Plans will no longer be available.
The legislation called the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA), ruled that as of January 1, 2020, all newly eligible Medicare recipients cannot sign up for a supplemental plan that covers the Medicare Part B deductible. This means that Medicare Supplement Plans (also called Medigap Plans) C and F will be eliminated. However, those who are enrolled in Plan C or F as of December 31, 2019 will be “grandfathered” and continue with the plan as long as they want.
Why the changes?
Medicare is experiencing a growing financial strain from the ongoing enrollment of the Baby Boomer generation. This created a non stop increase of costs of health insurance. In an attempt to control costs by reducing claims, Congress decided it made sense to have Medicare recipients be responsible for more of their out-of-pocket medical expenses.
Medicare covers 80% of your outpatient benefits and Plan F covers both your Part A and B deductibles as well as the other 20%. Medicare Supplement Plan F is considered the Cadillac of all the supplement plans because it provides first dollar coverage, covering all the gaps in Medicare, leaving you with $0 out of pocket. People with Plan F have no copays for services that are Medicare-covered including copays at the doctor.Medicare Supplement Plan C is similar but does not include Medicare excess charge coverage
Lawmakers want to reduce medical misuse because they believe having this type of coverage leads to overuse of healthcare services. They fear that the people who have these plans will utilize it for every little thing like a cough, and run to the doctor because once the deductible is paid off, there are no co-pays, deductibles, or network of doctors to follow you. However, if you paid for your own deductible then you would reconsider doctor visits for minor things.
How will this affect policyholders?
Now would be the best time to start planning and consider your options. Discuss the differences of plans with an agent and choose which best suits your needs.
People who are grandfathered can continue to hold onto Plan F indefinitely. When the new change occurs in 2020, we will expect Medicare Supplement Plan F premiums to rise annually due to less people being enrolled.You can switch insurers, so if someone offers a better price, then you can apply to change to that insurance company’s policy.
If you are not grandfathered in and you cannot purchase plans F or C after January 1, 2020, you will want to consider plan G. Medicare Supplement Plan G is commonly known as the plan with the best value plan. Plan G has the same exact benefits as Plan F, but Plan G requires you to pay the annual Medicare Part B Deductible.
There are some concerns with the elimination of these plans. This could lead to consumers to not seeking treatment, which could lead to missing an early diagnosis and advanced health conditions. Essentially this will be more difficult and costly to treat, which defeats the money saving purpose Medicare began covering more preventative benefits.
With these changes ahead, you should plan for the financial impact it will have on you. If you need to compare, or would like to switch Medicare Supplement plans, contact EZ.Insure. A trained agent is always ready to help guide you. We can be contacted through email at [email protected] or by phone, 888-753-7207. Our agents will walk you through your options and help you find a plan with the right coverage within your budget. No hassle & no obligation, do it the easy way.
The answer to this all depends on you. But in our opinion Plan G is the most valuable. Compared to Plan N, it provides the most coverage and saves you a significant amount of money. However, if you don’t need to visit your doctor frequently, you may easily be better off with Plan N. Overall if you’re a healthy person on a tight budget Plan N does have fantastic benefits. Although, even if you only visit the doctor a few times a year, Plan G does offer that extra bit of protection for only a little bit more money. With Plan G the only out-of-pocket Medicare cost you have to worry about is the $226(2023) Part B deductible.
