Underrated Plan G Supplement Could Save You Hundreds a Year
Plan F is Medicare Supplement’s Cadillac plan. It is the one with the most comprehensive benefits of all 11 plans, reducing potential out-of-pocket spending for health insurance to an all-time low. It covers all Medicare approved expenses including deductibles, coinsurance, skilled nursing, and much more. Talk about a smooth ride! So when my clients are looking for a Medicare Supplement of high quality, that is usually the one they hop into. It is secure. It is hassle-free. And it’s just dang pretty.
But it is not always the best value. In fact, it rarely is, and here’s why:
Introducing Plan G
| F | G |
| Basic Benefits, including 100% Part B coinsurance | Basic Benefits, including 100% Part B coinsurance |
| Skilled Nursing Facility Coinsurance | Skilled Nursing Facility Coinsurance |
| Part A Deductible | Part A Deductible |
| Part B Deductible | $183 |
| Part B Excess (100%) | Part B Excess (100%) |
| Foreign Travel Emergency | Foreign Travel Emergency |
*Red means you pay
Take a thoughtful look at the Plan F and G benefits side by side. You’ll notice that these two plans cover most of the same things. From basic benefits to the hefty $1316 Part A deductible, it’s identical. The only difference is that Plan G does not cover the annual $183 Part B deductible.
Cutting Costs
Yet the premium difference between these two plans is often staggering: sometimes $30- 50 or more a month. And if you take into account the amount saved in premiums, Plan F starts to lose its luster.
How about an example? Let’s say a 65-year old female from Sidney, Ohio is shopping for a supplement. For AARP’s Plan F, she would pay $151.90 per month. And for an Aetna Plan G, she would pay $113.95 a month. That is a $455.40 a year difference! Although she would be giving up the benefit of having her $183 deductible paid for, she would still save $272.40 a year by choosing Plan G!
It seems the best benefits don’t always mean the best value. The overall cost is what counts, 100% of the time. So when shopping luxury, keep this in mind: Always check to see what you are paying for. You just might find a better deal elsewhere.
Curious about how much a plan G would cost you? Use our Medicare Supplement quoting tool to find out! Click here to find out your best rates! https://seniormark.com/resources/
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About the Author
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