Medicare Plan G VS Plan F: What's the Real Difference?
Continue reading to learn more about Medicare Plan G and Plan F and help decide which is the better fit for you.
21/03/2020
If you or a loved one relies on medicare to help cover medical costs then you already know that there are many differences in what is and isn’t covered depending on your plan. You or a loved one should never have to suffer, physically or economically, as a result of an illness that you have no control over. By ensuring you are aware of the differences in coverage between different plans, you will be able to pick the best plan which will work to make sure that you aren’t paying huge sums of money out of pocket.
It can be very difficult to sift through different plan options to find the one that best suits your needs. There are plenty of online resources that can help to supplement your knowledge and inform you of the best possible course of action available. You can find more on this website to help you pick a Medigap plan that will ensure that you aren’t paying more than you should. Plan G and F are two of the most popular plans. Using online resources can help you save countless hours and dollars. These are things that you shouldn’t have to worry about when it comes to any medically related services. Continue reading to learn more about Plan G and Plan F and help decide which is the better fit for you.
Skilled Nursing Facility Coinsurance
Both medicare plans F and G cover hospital costs and coinsurance. This means that if you have to choose between both plans then you will receive the same coverage regardless of which option you decide to choose.
Deductible (per benefit period)
Both medicare plans F and G cover deductible costs during the benefit period. This means that if you have to choose between both plans then you will receive the same coverage regardless of which option you decide to choose.
Hospice Care Coinsurance or Copayment
Both medicare plans F and G cover hospice care and coinsurance copayment costs during the benefit period. This means that if you have to choose between both plans then you will receive the same coverage regardless of which option you decide to choose.
Deductible (annual)
The annual deductible (Part B) is the real difference between medicare plans F and G. Under Plan F your insurance provider will write the check for your deductible, and then you never have to see a medical bill. If you take plan F then you will generally have a slightly higher yearly premium on average. Under Plan G you are required to pay the deductible out-of-pocket. However, this is reflected in a lower annual premium price on average.
Coinsurance or Copayment
Coinsurance and copayment are both also covered under plans G and F. So even if you decide to pick the cheaper option you will still receive equal coverage under this category.
Excess Charges
Regardless of which plan you decide on, both plan f and plan g cover excess charges that you might accrue during your medical ordeal. So you don’t need to worry about paying for any unforeseen excess charges after your trip to the doctor or hospital.
Blood transfusions
Blood transfusions are covered under both Plan G and Plan F under medicare. This means that regardless of which plan you are on you will be covered for a blood transfusion and not forced to pay out of pocket. However, there are some restrictions. Both plans only cover the first 3 pints of blood. Normally this is plenty of blood, but in some cases when more is required you may be required to pay a little more.
Foreign Travel Emergency
Getting sick or injured when you’re in a different country can be scary and expensive if you don’t have proper coverage. Fortunately, if you get either plan F or plan G then you will be more than covered for your out of the country excursion. For this set of criteria, either plan will be sufficient.
Hopefully, this article has been helpful at informing you of the differences in medicare coverage between plans F and G, and how you can work to fill them to ensure you are always covered, no matter the situation. The last thing you want to be worrying about when you or a loved one needs medical attention is money. Your financial means should never be an impediment to your overall well being, physically or mentally. Having the proper coverage that gives you what you need to survive and thrive is the most important part of this equation. Don’t wait, find the coverage you need now before it's too late!