17 Best Medicare Supplement Plans and How to Choose the Right One

5. Medicare Supplement Plan F - The Gold Standard of Coverage

Medicare Supplement Plan F has long been considered the gold standard of Medigap coverage, offering the most comprehensive protection available under the standardized plan structure. This plan covers every gap left by Original Medicare, including Medicare Part A and Part B coinsurance, the Part A deductible, the Part B deductible, skilled nursing facility care coinsurance, foreign travel emergency care, and the Part B excess charges that can occur when providers charge more than Medicare's approved amount. The Part B excess charges coverage is particularly valuable in areas where many providers don't accept Medicare assignment, potentially saving beneficiaries significant money on medical services. Plan F essentially eliminates all out-of-pocket costs related to Medicare-covered services, providing complete predictability in healthcare expenses. However, like Plan C, Plan F is no longer available to new Medicare beneficiaries who became eligible on or after January 1, 2020, making it a legacy plan for existing enrollees. The comprehensive nature of Plan F typically makes it the most expensive Medigap option, but for many beneficiaries, the peace of mind and financial predictability justify the higher premiums. Those with access to Plan F often find it particularly valuable if they have chronic conditions, travel frequently, or live in areas where Part B excess charges are common.

6. Medicare Supplement Plan G - The New Comprehensive Standard

Medicare Supplement Plan G has emerged as the new comprehensive standard for Medicare supplement coverage, especially following the restriction of Plan F availability to new Medicare beneficiaries. Plan G provides nearly identical coverage to Plan F, with the single exception being that it does not cover the Medicare Part B deductible. This means beneficiaries must pay the annual Part B deductible ($240 in 2024) out of pocket before their supplement coverage begins for Part B services. Despite this limitation, Plan G covers Medicare Part A and Part B coinsurance, the Part A deductible, skilled nursing facility care coinsurance, foreign travel emergency care, and Part B excess charges. The elimination of Part B deductible coverage typically results in significantly lower premiums compared to Plan F, often making the total annual cost (premium plus deductible) lower than Plan F premiums alone. This cost structure has made Plan G increasingly popular among new Medicare beneficiaries and those looking to switch from higher-cost plans. The plan provides excellent protection against major medical expenses while requiring only a modest annual out-of-pocket commitment. Plan G is particularly attractive to beneficiaries who want comprehensive coverage but are comfortable paying a small annual deductible in exchange for lower monthly premiums.