Why Do Insurers Charge So Much for their
Medigap Plan F Policies vs Plan G?
Not surprisingly, they found a financial value gap between Medigap Plan F
policies and Plan G, but why? You'll find MedicareWire's Plan F vs Plan G
information on this MedicareWire page.
Medicare supplement Plan F, has long been the
gold standard in the Medicare insurance industry.
After comparing quotes for more than 1,000 Medicare
beneficiaries during the 2021 Annual Election Period, the
report authors discovered a significant cost gap between
Plan F and Plan G.
If you have a Plan F policy, you'll
be interested in what they
discovered.
The premiums on Plan F policies, which are no
longer available to people qualifying for
Medicare as of 1 January 2020, are increasing
faster than the combined cost of Plan G
policies and the annual Medicare Part B
deductible.
The only difference between a Plan F and Plan G policy is the Medicare Part
B deductible, which, for 2021 has been set at $203 per year by the Center for
Medicare and Medicaid Services.
Gov, starting in 2020, Medicare
Supplement plans that pay the
Medicare Part B deductible will no
longer be sold to those newly eligible.
Now it looks like Medicare supplement
insurance carriers are following Congress's
lead by hiking their premiums on Plan F
policies faster than Plan G policies.
The MedicareWire report claims that in all cases examined, the annualized cost of a
Medicare Supplement Plan G policy, plus the annual Medicare Part B deductible,
was less than the annualized Plan F policy for the same beneficiary.
The folks at MedicareWire say they
wish everyone in a Plan F policy right
now would check what they are
paying with current Plan G premiums.
A lot of people are tossing good
money out the window with a
Medigap Plan F policy.
Contact Us At
MedicareWire.com for
more information.