Medigap Plan G is the second most comprehensive Medicare supplement, however, in our opinion, it is the best option by a long shot. 90% of individuals calling in to iHealthbrokers Medicare Advisors request Plan F, because it’s the best. Once people find out about Plan G, they completely forget about Plan F. Not only is it less expensive, the coverage is nearly identical and your premium is more stable in future years.
Plan F vs Plan G – What’s the Real Difference?
As far as benefits go, there is only 1 single difference between Plan F and Plan G and that is the annual Part B deductible.
Plan F pays this deductible for you, while Plan G makes you pay it. As of 2016, the annual Part B deductible is only $166, that’s it. $166! See the chart below to see that the plans are identical in every way shape or form, except this tiny deductible.
Plan F vs Plan G Cost – How Much Do I Save with Medigap Plan G?
Typical cost savings for Medigap Plan G over Plan F can be as much as $600 per year which is a no brainer. Save $600 in order to take on an annual deductible of $166. That’s a complete win/win. However, there is more… Medigap Plan G consistently maintains more stable premiums than Plan F. So not only do you save more money today, but, you continue to save more money in future years.
Let’s look at this actual rate comparison below.
Female, non smoker, in Loganville, GA 30052
|Medigap Plan G||Medigap Plan F|
|Annual Savings||$344 Savings with Medigap Plan G!|
In this real world example, you would save $344 per year on your annual Medigap premium. In addition to that, you would have more stable rates in future years meaning that your premium would go up more slowly from year to year than it would with Plan F. This is a complete win/win for you.
What Do You Mean The Premiums Go Up Less From Year to Year?
Below is a chart from an email sitting in my inbox as we speak. These are rate adjustments for existing business on a very well known Medigap insurance company that are set to go into effect next month. We get emails like this on a daily basis, however, what you see is that next month, for this carrier, they are raising rates on all of the Plan F’s by 4% and LOWERING the prices of the Plan G’s by as much as 9.3%. Can you imagine if your health insurance premium actually went down? That’s a reality with G. Not only will it go up more slowly over time, sometimes it may go DOWN!
|Plan G||Plan F|
|Kentucky||2% Decrease||4% Increase|
|North Carolina||9.3% Decrease||4% Increase|
|Louisiana||2% Decrease||4% Increase|
|With Plan G, You Win!|
Another Agent Told Me to Buy Plan F, Not Medigap Plan G
There could be a few reasons for this. The most common reason is that the agent you spoke with only worked with one insurance company, and that insurance company might not offer Plan G. The other reason is because insurance agents are paid a percentage of premium. Unethical agents will try and sell you the plan that costs the most because they make more. We obviously don’t think like this as we are trying to obtain clients for life. We work for you and we want to be your Medicare insurance broker for life! Give us a call at (866) 260-9829.
Medigap Plan G Video – Plan F vs Plan G