plan F availability

Although Plan F still technically exists, it is only available to people who were enrolled in Medicare before January 1, 2020. Anyone who signed up for Medicare on or after this date cannot buy Plan F.

plan f benefits

Plan F technically has the broadest coverage of all Medicare supplement plans because it covers:

• Medicare Part A Coinsurance & Hospital Costs (Up to an additional 365 days after Medicare benefits are used)

• Medicare Part B Coinsurance or Copays

• Blood (first 3 pints)

• Part A Hospice Care Coinsurance or Copays

• Skilled Nursing Facility Copays

• Medicare Part A Deductible ($1,408 in 2020)

• Medicare Part B Deductible ($198 in 2020)

• Medicare Part B Excess Charges

• Foreign Travel  (80% of billed charges for emergency care outside of the USA, with a lifetime limit of $50,000)

(Note: Plan F does not cover prescription drugs or dental coverage – none of the current supplement plans do.)

So buy buying plan F, you are buying ultimate peace of mind – all of your hospital and medical copays and coinsurance amounts are covered. No need to worry about hefty medical bills – with plan F, you’re essentially paying for all of these costs up front.

benefits: Plan f vs. plan g

Both Plan F and Plan G cover:

• Medicare Part A Coinsurance & Hospital Costs (Up to an additional 365 days after Medicare benefits are used)

• Medicare Part B Coinsurance or Copays

• Blood (first 3 pints)

• Part A Hospice Care Coinsurance or Copays

• Skilled Nursing Facility Copays

• Medicare Part A Deductible ($1,408 in 2020)

• Medicare Part B Excess Charges

• Foreign Travel  (80% of billed charges for emergency care outside of the USA, with a lifetime limit of $50,000)

(Note: Plan F and G do not cover prescription drugs or dental coverage – none of the current supplement plans do.)

Compared to Plan F, there is only one thing that Plan G does not cover: the Medicare Part B deductible. In 2020, this amount is $198.

So to review, Medicare Plan G covers all of your coinsurance and copays after your pay the $198 Part B deductible.

so why plan g?

Why do people love Plan G? The reason is simple.  The amount that they save when choosing Plan G is almost always more than the Part B deductible.

For example, right now (August 2020), here are quotes for a 65-year-old non-smoking female in Maricopa County with “Company A”:

Plan F: $145.31 per month

Plan G: $113.90 per month

By choosing Plan G over Plan F, she saves $31.41 each month, or $376.92 per year!

Case-Study: Gloria’s Plan G Savings

Let’s say that the example quote above is for Gloria. She just turned 65 and has several health complications. Gloria checks in with her primary care doctor twice a year and has at least two specialist appointments per month.

Each time Gloria visits her doctors, they bill Medicare first. Medicare pays for 80% of the charges, and then contacts Gloria’s Medicare Supplement company for the remaining 20%.

Instead of worrying about her hospital and medical costs, Gloria has peace of mind.

When she joined Medicare, Gloria signed up for Plan G without needing to answer health questions. This is because got on the plan during her Guaranteed Issue period (3 months before, the month of, and 3 months after her birthday).

Gloria doesn’t worry about hefty medical bills. She simply pays $113.90 each month and lets her Medicare Supplement company handle the rest (after she’s paid the $198 Part B deductible).

benefits: Plan N

Plan N covers:

• Medicare Part A Coinsurance & Hospital Costs (Up to an additional 365 days after Medicare benefits are used)

• Medicare Part B Coinsurance or Copays (except for a $20 copay for some doctor visits and $50 for ER visits)

• Blood (first 3 pints)

• Part A Hospice Care Coinsurance or Copays

• Skilled Nursing Facility Copays

• Medicare Part A Deductible ($1,408 in 2020)

• Foreign Travel  (80% of billed charges for emergency care outside of the USA, with a lifetime limit of $50,000)

Plan N does not cover:

• The Part B deductible ($198 in 2020)

• Excess charges (up to 15% above the amount that Medicare is willing to pay for services)

• Prescription drugs or dental coverage (none of the current Medicare supplement plans do)

Case Study: Maria’s Plan N Savings

Let’s say that the example quote above is for Maria. She just turned 65 and has a couple of health issues but overall is pretty healthy. Maria checks in with her primary care doctor once a year and sees a specialist once per quarter. Even after doctor copays, she still saves $165.44 per year by going with Plan N over Plan G.

Thankfully, all of Maria’s doctors accept Medicare’s rates, so she doesn’t have to worry about excess charges.

Each time Maria visits her doctors, they bill Medicare first. Medicare pays for 80% of the charges, and then contacts Gloria’s Medicare Supplement company for the remaining 20%.

Instead of worrying about her hospital and medical costs, Maria has peace of mind.

When she joined Medicare, Maria signed up for Plan N without needing to answer health questions. This is because got on the plan during her Guaranteed Issue period (3 months before, the month of, and 3 months after her birthday).

So instead of worrying about large medical bills, Maria pays $91.78 each month and lets her Medicare Supplement company take care of the rest (after she’s paid the $198 Part B deductible and her $20 copays at each doctor visit).

a word on plan n copays and possible excess charges

• Doctor copays for Plan N are up to $20. Some doctors may charge this full amount, others may not.

• Emergency Room visit copays are $50 but are waived if you are admitted to the hospital.

*What about Urgent Care? With Plan N, visits to urgent care are completely covered. So if you’re feeling sick on a Sunday or holiday, you can save $50 by going to Urgent Care instead of the Emergency Room.

In regard to excess charges, according to the Kaiser Family Foundation approximately 93% of doctors in the USA accept Medicare’s rates.  So it’s not common for doctors to charge more than Medicare is willing to pay. And if a doctor is not contracted with Medicare but is still willing to see you, the most that they can charge is limited to 15% above Medicare’s rates.

Finding out if a doctor accepts Medicare’s rates is easy. You can do it online by visiting the following website: https://www.medicare.gov/physiciancompare/

why plan N?

Plan N is for people who want great coverage in case of health emergencies and don’t mind paying reasonable copays for lower monthly rates.

For example, right now (August 2020), here are quotes for a 65-year-old non-smoking female in Maricopa County with “Company A”:

Plan G: $113.90 per month

Plan N: $91.78 per month

By choosing Plan N over Plan G, she saves $22.12 each month, or $265.44 per year!

Plan G and N – a Better Value?

Although Plan F offers the broadest coverage of all Medicare supplement choices, Plan G and N offer many of the same benefits for a lower monthly cost.

Plan F with “Company A” vs. “Company B”:

What’s the Difference?