Medicare Supplement Plans
There are 11 different standard Medicare Supplement plans. According to Senior Product Specialist, John Shinn, “the most popular plans are Plan F, Plan G, and Plan N.”
A Plan F is a Medicare Supplement plan that pays 100% of your hospital bills not paid in full by Medicare. It also pays 100% of your Part B outpatient doctor bills not paid in full by medicare. It has standardized benefits and pays 100% of what is not paid for by Medicare. Plan F is the most comprehensive and most popular/biggest seller.
The Plan G is identical to Plan F except when it comes to Part B benefits (the outpatient doctor part of original medicare). There is a $166 yearly deductible that Plan F pays Plan G does not. A Plan G is cheaper than Plan F because it doesn’t pay as much as Plan F.
The Plan N is the third most popular plan and is similar to Plan G but it pays less because you have doctor copays, emergency room copays you have a Plan B deductible. This plan pays less and costs less so that is the reason it is so popular.
Plan F is the most expensive and most comprehensive plan. Plan G is the second most comprehensive and second most expensive, and Plan N is the third most comprehensive and least expensive. N is cheaper because it has cost-sharing features, meaning you could pay a $20 copay at the doctor instead of having to include it in your plan. With a Plan F, you do not have a copay because it is included in your plan. For example, if you go to the doctor and the bill is $166 (with Medicare) on Plans G and N you have to pay that amount out of pocket. With Plan F that $166 is covered.
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