Medicare Plan F vs. Plan G: What’s the Real Difference?

If you’re exploring Medicare options, you’ve likely seen Plan F and Plan G, two top Medigap (Medicare Supplement) plans. While both work with Original Medicare (Parts A and B) to cover out-of-pocket costs like deductibles, coinsurance, and copayments, their key difference lies in the Medicare Part B deductible: Plan F covers it, while Plan G does not. Additionally, Plan F is only available to those who became eligible before January 1, 2020. For new enrollees, Plan G is the most comprehensive option. This guide will break down their coverage, costs, and which plan best suits your needs.

What Are Medicare Plan F and Plan G?

Medigap plans are private insurance policies designed to work alongside Original Medicare. They help pay for expenses that Medicare doesn’t fully cover, such as deductibles, coinsurance, and hospital costs.

Plan F and Plan G are both standardized Medigap plans, meaning the benefits are the same regardless of which insurance company you choose. While they’re similar, they differ in a few important ways, especially when it comes to eligibility and how the Medicare Part B deductible is handled.

Plan F provides the most comprehensive coverage available under Medigap. It pays for nearly all Medicare-approved out-of-pocket expenses, including the Part A deductible, Part B coinsurance and copays, Part B deductible, and even excess charges.

However, Plan F is no longer available to people who became eligible for Medicare after January 1, 2020. If you turned 65 or qualified due to disability after that date, you won’t be able to enroll in Plan F.

Plan G, on the other hand, covers everything that Plan F does, except for the Medicare Part B deductible. This means you’ll need to pay the Part B deductible (which is $240 in 2024) out of pocket, but after that, Plan G steps in to cover nearly everything else.

What Do Plan F and Plan G Cover?

Here’s a breakdown of what both plans share:

• Medicare Part A coinsurance and hospital costs (up to 365 additional days after Medicare benefits are used)

• Medicare Part A deductible

• Medicare Part A hospice care coinsurance or copayment

• Medicare Part B coinsurance and copayment (except the deductible in Plan G)

• Medicare Part B excess charges

• Skilled nursing facility coinsurance

• First 3 pints of blood

• 80% of foreign travel emergency care (up to plan limits)

The main difference again?

• Plan F covers the Medicare Part B deductible.

• Plan G does not.

Neither plan includes:

• Prescription drug coverage (you’ll need a separate Part D plan)

• Routine dental, vision, or hearing care

Pros and Cons of Each Plan

For people who qualify for Plan F, the biggest advantage is that it provides full coverage for Medicare-approved services. You pay your premium, and in most cases, that’s it, no surprise bills, no deductibles, no coinsurance. This can be especially valuable for individuals with chronic health conditions or frequent doctor visits.

However, this convenience comes at a cost. Plan F typically has the highest monthly premium of any Medigap plan, and because it’s no longer available to new enrollees, the pool of members is aging, which could lead to higher rate increases over time.

Plan G, on the other hand, offers almost the same coverage at a lower premium. The only difference is that you’ll need to pay the Part B deductible out of pocket once each year. For many beneficiaries, this trade-off is well worth it. If you’re relatively healthy or budget-conscious, Plan G often delivers better value over time.

Costs & Premiums

The costs of both plans can vary depending on your location, age, gender, tobacco use, and insurance provider. That said, general premium ranges can offer a helpful starting point.

For 2024–2025, Plan F premiums typically range from $140 to $200 per month, while Plan G premiums usually fall between $100 and $150 or more. The primary reason for the price difference is that Plan G doesn’t cover the Medicare Part B deductible, which is $240 in 2024.

Pricing is also affected by the insurer’s pricing method:

• Community-rated plans charge the same rate to everyone in the same geographic area, regardless of age.

• Issue-age-rated plans base your rate on the age you were when you first bought the policy.

• Attained-age-rated plans start at a lower rate but increase as you age.

Both Plan F and Plan G are also available in high-deductible versions. These plans offer lower monthly premiums but require you to pay a deductible of about $2,800–$2,900 before coverage begins. High-deductible plans are a good option for people who are healthy and want protection primarily against large, unexpected medical bills.

Plan F vs. Plan G: Key Differences

To summarize the major differences:

• Eligibility: Plan F is only available to those who became eligible for Medicare before January 1, 2020. Plan G is available to everyone with Medicare Part A and B.

• Part B Deductible: Plan F covers it; Plan G doesn’t.

• Monthly Premiums: Plan G generally has lower premiums.

• Coverage: Nearly identical, aside from the deductible.

• Availability: Plan G is more accessible and likely to remain more stable in the long term.

Some insurers also offer a version called Plan F “Extra”, which may include limited dental, vision, or hearing benefits, but this varies by state and provider.

What About Plan N?

If you’re considering more budget-friendly options, Plan N may also be worth exploring. Like Plan G, Plan N doesn’t cover the Medicare Part B deductible. However, it also requires copayments for doctor visits and emergency room visits, and it does not cover Part B excess charges.

In return, Plan N offers even lower monthly premiums than Plan G. It’s a good fit for healthy individuals who don’t expect to use many medical services and are comfortable with some out-of-pocket costs in exchange for saving on monthly premiums.

Who Should Choose Which Plan?

Your personal health needs, budget, and Medicare eligibility date should all play a role in your decision.

If you were eligible for Medicare before 2020 and want complete coverage with no additional medical bills after paying your premium, Plan F might be your best option, if you can still enroll in it.

If you’re willing to pay the small annual Part B deductible in exchange for lower monthly premiums, Plan G is a strong alternative that’s available to all Medicare beneficiaries.

If your goal is to keep premiums as low as possible and you’re comfortable with some copays and not having excess charge coverage, Plan N could be a good fit.

No matter which plan you’re considering, make sure to compare total annual costs, not just monthly premiums, before making a decision.

When and How to Enroll in a Medigap Plan

Timing is everything. You have a six-month Medigap open enrollment window that starts the month you turn 65 and enroll in Medicare Part B.

During this time:

• You can’t be denied coverage due to pre-existing conditions

• No medical underwriting is required

If you wait and apply later:

• You may be denied coverage

• You may face higher premiums

• Some plans may require medical underwriting

Guaranteed-issue rights may still apply in special cases like losing employer coverage or moving out of your plan’s service area.

Tips for Choosing a Plan F or Plan G Policy

Choosing the right Medigap policy requires more than just picking the plan letter. Here are a few tips to help you get the most out of your coverage:

Start by comparing quotes from multiple insurance providers. Even though coverage is standardized, monthly premiums can vary widely. Make sure to ask how each insurer calculates rates, whether it’s community-rated, issue-age-rated, or attained-age-rated.

Ask about optional perks as well. Some insurers offer vision or hearing discounts, gym memberships, or other wellness incentives as part of their plan offerings.

Finally, check for state-specific Medigap rules, especially if you live in Massachusetts, Minnesota, or Wisconsin, where the Medigap plan structure differs from the standard federal model.

Conclusion

When comparing Medicare Plan F vs Plan G, the biggest takeaway is this:

• Plan F provides full coverage, including the Part B deductible, but is only available to people who were eligible for Medicare before January 1, 2020.

• Plan G covers nearly everything Plan F does (except the Part B deductible), and it typically offers lower premiums and broader availability.

For many people, Plan G strikes the best balance between coverage and affordability. But your specific needs and eligibility date will ultimately determine which plan is right for you.

If you’re ready to choose a Medicare Supplement plan, or just want expert help comparing your options, Unified Health is here to guide you.

Contact Unified Health today for free, personalized support from licensed Medicare advisors.

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