Medicare Supplement Plan F vs. G vs. N (2024 Update)

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Many seniors are surprised to find that Medicare doesn’t cover all healthcare costs. There are deductibles, copays, and coinsurance, and this doesn’t include prescription drug costs.

That’s why many seniors need a supplemental Medicare plan, also known as Medigap, to cover these gaps.

This article will explore the most cost-effective and popular Medigap plans for 2023: Medicare Plan F, G, and N. We’ll explain the differences and help you decide which one is best for you.

Table Of Contents

1. Medicare Plan F
2. Medicare Plan G
3. Medicare Plan N
4. Cheat Sheet
5. Which Plan Is Best For Me?

Medicare Plan F

Medicare Plan F is the most comprehensive Medigap plan, covering 100% of Medicare’s gaps. You won’t pay anything for hospital or doctor visits, as Medicare covers most costs and Plan F covers the rest.

However, this plan is only available to those who were eligible for Medicare before 2020. If you were 65 or older before 2020, you can still get Plan F.

Because Plan F covers everything, it’s also the most expensive plan.

Here’s what Plan F covers:

• Part A coinsurance and hospital costs
• Part B coinsurance/copayment
• First 3 pints of blood
• Part A hospice care coinsurance/copayment
• Skilled nursing facility coinsurance
• Part A deductible
• Part B deductible
• Part B excess charges

If the premiums for Plan F are too high, there is a high-deductible version where you pay the first $2,370 each year before the plan covers the rest. This option is cheaper but comes with a high deductible.

[Click here to see the 3 cheapest Medicare Plan F companies.]

Medicare Plan G

Medicare Plan G covers everything that Plan F does, except for the Medicare Part B deductible, which is $233 in 2022. This means you’ll only pay the $233 deductible once a year for medical care.

For those new to Medicare after 2020, Plan G is the most popular and comprehensive plan.

Like Plan F, there is also a high-deductible Plan G with a $2,370 deductible. While we don’t recommend high-deductible plans for most people, they might be an option if you’re comfortable paying the deductible in case of serious medical care.

Medicare Plan N

Medicare Plan N is popular among seniors for its lower cost and similar protection against catastrophic medical events.

Plan N covers:

• Part A coinsurance and hospital costs
• Part B coinsurance
• Hospice care
• Skilled nursing facility care
• Part A deductible

Plan N does not cover the Part B deductible ($203) and Part B excess charges. It also has a copay of $20 for doctor visits and $50 for hospital visits that don’t result in admission.

The main difference between Plan N and other plans is the lack of protection from excess charges, which can be 10-20% more than Medicare rates. You’ll have to pay these charges out-of-pocket.

While Plans F and G cover these excess charges and have no copays, Plan N is more affordable, making it attractive for those on a fixed income.

Cheat Sheet

Here’s a side-by-side comparison of the benefits:

Expect to pay something when visiting a doctor or clinic since the Part B deductible is not included in most Medicare supplement plans.

Which Plan Is Best For Me?

When choosing a Medigap plan, consider your long-term coverage needs. It can be difficult to switch plans if your health deteriorates or you develop serious health conditions.

We can help you explore your options and make recommendations. All Medigap plans are the same across different insurance companies, so you’re only shopping for the best price. As an independent broker, we can find the best rates available from top health insurance companies.

If you’re looking for a Medigap plan or need more information, give us a call, fill out our quote form, or use our live chat option. We’ll help you make the best decision, and our services are always 100% free!

We look forward to speaking with you.