Medicare Supplement Plans

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.”

Plan F

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.

Plan G

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.

Plan N

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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