The Best Medicare Supplement Plan F

In this video I’m going to discuss the best Medicare supplement Plan F versus the Plan G. And I get a lot of phone calls about this and people want to know, should I get on Plan F because it is the Cadillac plan supposedly, or should I go with the Plan G because in 2023, this is the plan that most people get?

In this video, I’m going to answer both of those questions. And in most of my videos, I give you the raw data so that you can make a decision on what the best plan is for you.

If you don’t know who I am, my name is Brian Monahan. I’ve been working with people going on to Medicare and people on Medicare for the past 15 years. And today, this is going to be a very short video because it’s pretty simplistic.

So if you look here, Plan F and Plan G to the left, the difference you see on the first column is the premium. The Plan F on average, I did this for someone who is 70 years old, so on average throughout the entire country, you’re going to pay $170 per month for this plan. For Plan G, same thing. On an average for the country, $150.

Now, a lot of people get on me for not mentioning this in my videos, but if you look at your Medicare A and B card here, you’re going to pay $164.90 per month in 2023 no matter what plan you’re on. So if you’re on a Medicare Advantage plan, you’re still going to pay that 164.90 to the government. If you choose Plan F or Plan G, you’re still going to pay that 164.90 to the government. And that is for Medicare part A and B, this card over here, and that covers about 80% of your cost. So the Plan F and the Plan G are going to cover the other 20% of your cost for doctor and hospital or inpatient and outpatient.

So we see the premium is about $20 difference. So what does that mean? Well, for the hospital coverage, it’s going to be the exact same. You’re going to pay nothing with either one of these plans going into the hospital. The real difference between G and F is G has a $226 a year part B deductible that you have to pay. And F, you do not pay anything for the year. So if you go to the doctors a couple times, you’re going to pay $226, maybe a hundred dollars one time, maybe 126 the next time, and then you’re done with your deductible. With Plan F, there’s going to be no deductible.

So let’s move down and look at some of the math. So like I said, for the A and B card, you’re going to pay $164.90 per month. And then with these two plans, if you look at Plan F, you have your premium $170 times 12. Each month you pay 170. For the year, you’re going to pay $2,040. For Plan G, it’s going to be $140 times 12 months, which equals $1,800. But then you’re going to add that $226 deductible and it comes out to $2,026. So as you can see, it’s less than $20 difference between these two plans for the entire year when you break it down by the year.

So if you look up here back at the chart, what do you get with this? Well, you get inpatient and outpatient completely covered with both of these plans. So you have your hospital, your doctor, your specialist, your ambulance, physical therapy, CAT scans, MRIs. All of these things are covered 100% by the F plan and 100% by the G plan except for 226 for the entire year for the G plan. Now, skilled nursing has the same thing. You get $100 at zero cost for both of these plans.

So before I get into the drug plan and the dental vision and hearing, most people want to know, “Well, how do you even make a decision?” If it’s a $14 difference between these two plans for the year, if you look at the MOOP, which stands for maximum out of pocket, how do you make a choice between these two plans?

The way that insurance works, you have healthy people and sick people. They go into a pool of people. So when you have people going to the F plan, let’s say there’s 10 people, five are sick, five are healthy. The healthy people actually pay for the sick people because they’re paying their premiums and they’re not going to the hospital and going to the doctors. They’re doing nothing because they’re healthy. The sick people are spending a lot of the insurance companies money.

So with the F plan, you’re only eligible to get in the F plan if you were eligible for Medicare prior to 2020. If you were not eligible prior to 2020, the most comprehensive plan you can get for Medigap plans is the Plan G. So automatically the pool for Plan F is shrinking. And if it gets too expensive, people that leave tend to go to a Plan G, and this means that the premiums are going to continue to rise for a Plan F because most of the time the people that stay in this plan are going to be unhealthy or at least have something that is going to cost a lot of money if they go to the hospital or doctor’s office.

And with the Plan G, the pool is still the biggest out there now. This is what most people get in 2023 if they want the most comprehensive coverage. So that’s why you would get the Plan G over the Plan F. It’s not the $14 you’re going to save over the entire year obviously.

When you scroll down here and you look at a drug plan, it’s the same thing for F and G. You’re going to have to get a separate Part D prescription drug plan. They’re going to range between five and $35 for most people. I always tell people you’re going to pay between 10 and $20 for your plan. For dental, vision and hearing, there’s a bunch of different companies that have this. On average, it’s going to cost about $40 per month.

The thing that you want to do is ask your dentist which plans he takes, and then you want to start looking because dental is really the biggest nightmare when it comes to insurance. And if you know which plan your dentist takes, that’s the best start because then you can start looking at those plans as opposed to just looking at dental plans all over the place.

I hope this video helped. It was pretty short, but Plan F and Plan G are still both the premier plans in 2023. But if you’re going to choose something and you want to stay in a plan that has a bigger pool, you’re going to want to look at the Plan G. Thanks for watching.

My book link is in the description box below. You click on the link, you go directly to the book. It’s free. It doesn’t cost you anything. You don’t have to put your phone number in, you don’t have to put your email. It goes right to the book. You can read it. It’s about 20 pages long, and it has all the information that I think is pertinent to what people need to know when they’re turning 65 or if they’re on Medicare and they want to know more about all these plans.


This video and blog is for entertainment purposes only. If you want advice on Medicare or any of its plans, please speak to a licensed agent, whether it is me or another licensed agent. No advice should be taken from this video. If you don’t speak to me about your individual concerns, I can’t give you my 100% opinion. Brian Monahan, BL Monahan Inc and Medicare 365 are not responsible for any actions that you take without consulting with a licensed insurance agent.