Medigap Plan G Versus Plan F: Which is Best?

Medigap Plan G Versus Plan F: Which is Best?

If you want to buy a new car, what would be more important for you; the actual quality of the car or the brand? Let’s say you love Hyundai as a luxury brand (this is my personal allure). But what about a Lexus brand? Has the same quality, features, design; the only difference is the brand. What would you do? Which car would you select? You will agree with me that purchasing a car is not the same as shopping for a Medicare supplement plan, but for now, we will continue with the illustration.

There are 10 supplementary Medicare plans along with a highly depreciable version of the F plan. However, the original F plan has become the official champion of the Medicare supplement and has left all other plans behind.Plan F has been promoted to be the best supplementary plan, the luxury plan at Medicare’s supplement plans 2020. Meanwhile, many consumers have not officially signed up for Plan G. There are a few reasons why this nearly identical plan has been compressed into sales presentations.

  1. It’s cheaper, so the agents will make little commissions i.e. plan G is not as lucrative as the costly Plan F.
  2. The agents publicize this plan as a substitute for a plan F. That is, consumers think that plan G will demand more effort.

Let’s examine the first reason. The average price difference between Plan F and Plan G is approximately $20 to $30 (not a real average, but my personal score). That is a savings of approximately $300/year or, as an agent would see, $60 less than a plan F accumulate in commissions. That might not be worth it for the agent program, but if you sell 100 plans every 6 months, it will be about $6,000. Is it worth the sound now?If the agent really finds the best plan for his health condition, this will not dissuade him from leaving plan G.

It can be difficult to change your mind about Plan F. Many people think that Plan F is the only plan that is worth their money. Part B deductibles are the difference between Plan F and Plan G. This allowance costs $147 per year and must be used in full before your messenger or Medicare guarantees everything. Let’s do a little more math. If the transition to a G plan can help you save $25 a month, you’ll still save $153/year, even if you pay the $14/year deductible.It’s a mystery, but some people do not want to pay $147/year out of pocket (because it’s a deductible, you do not have to send any bills anywhere) to about $20 to $30 more per month for supplements Medicare.When my contacts feel comfortable, I try to direct them to plan G. I’m not always successful, but I hope Plan G is more popular in the future.