Medicare Supplement Insurance
Medigap Supplement Plan F and Medigap Plan G
These 2 Medicare Supplement plans (also known as “Medigap”) are the only Medicare Supplement insurance plans that cover the Part B allowed excess charges. An excess charge is the difference between the amount Medicare will pays and what a doctor or provider charges.
Many doctors and providers do not charge above what Medicare will reimburse and a few states actually prohibit the practice. But that is today. With all the discussion about changes and cuts to Medicare it’s impossible to predict what might happen in the next 10 years. For this reason Medicare Supplement Plan F is the most popular of the 10 available Medicare supplemental insurance (Medigap) plans. Further adding to the popularity of Medicare Plan F is that it is the most comprehensive of all available plans.
Plan G is exactly the same as plan F except the insured is responsible for the Part B deductible with Plan G and Plan F covering the cost of the part B deductible for the covered insured. Medigap Plan F therefore pays all the copayments, coinsurance, and deductibles that would be part of the Medicare covered Health care costs not paid by original Medicare. With Medicare Supplement Plan F there are no additional out of pocket costs for Medicare covered healthcare, no copayments, no deductibles, no coinsurance and no surprises.
There are, of course, 9 Medigap options, with several that have only slightly less coverage than Plan F (see the Medicare Supplement Comparison Chart) and are also very popular choices. Medicare Supplement Plan G is becoming increasingly more popular as is Medigap plan N. These are close in coverage to Plan F and offer slightly lower premiums with only 1 or just a few diferences. These are great choices for those looking to closely manage health insurance costs. The savings of these other plans over Plan F can be enough to make them financially sensible choices over time, without sacrificing choice of service.
For more help understanding al of your Medicare Insurance options one of the Senior Advisors Group Medicare Insurance Advisors would be happy to assist you in finding a plan that fits both your pocketbook, and your health insurance needs.
Call (610) 399-8700 to speak with a Medicare professional