What Is Plan G In Medicare?

What Is Plan G In Medicare?

”, we see that “Plan G is an alternative version of Medicare Part A and Part B.” So, Plan F is a plan with the highest cost-sharing, but the lowest premiums. Plan G is a plan with the highest premiums, but the lowest cost-sharing (if you are eligible for this coverage, you can't have Part D drug coverage).

At the end of the day, you have to decide if you want the lowest premiums, or the lowest out-of-pocket costs. Let's see how this works out in real life, with actual data for 2018.

In 2018, the average monthly premium for the lowest cost Silver plan in a given county is $476.57. The average premium for the lowest cost Silver plan FOR THE ENTIRE FEDERAL EXCHANGE is $546.10. For the sake of simplicity, let's round these numbers up to $500 and $550, respectively. For Plans F and G, the Part B premium is the same as the Part B premium for a Plan A. Thus, we can conclude that the Part B premium for a Plan F is $500/month, and for a Plan G, it is $550/month.

The Part D premium for a Plan F is $161.43/month, and for a Plan G, it is $193.28/month. For Plans F and G, you have to pay the full Part B premium, but you have to pay a $12.40/month “Part D Low-Income Subsidy” premium. Our conclusion is that the monthly out-of-pocket costs for a Plan F and Plan G are $701.92 and $854.20, respectively.

So, the monthly premium for a Plan F is $200/month less than the monthly premium for a Plan G. And the monthly out-of-pocket costs for a Plan F are $141.92/month less than the monthly out-of-pocket costs for a Plan G. In other words, if you only care about premiums, a Plan F is the better option. But, if you care about your total out-of-pocket costs, a Plan G is the better option.

If you are eligible for a “low-income subsidy”, you can't have Part D prescription drug coverage. So if you are eligible for a low-income subsidy, you should always choose a Plan G over a Plan F.

On the surface, then, it looks like a Plan F is a better option than a Plan G. But you have to look at the big picture. If you have a Part D Low-Income Subsidy, you are not eligible for premium-free Part A and B. You will have a $400/month Part B premium, and a $90/month premium for Part D. But if you are eligible for a Low-Income Subsidy, you are also eligible for a $237/month premium-free Part A benefit. Thus, the total out-of-pocket costs for a person eligible for a Low-Income Subsidy is $593.60/month, or $7,917.20 for the year. For a person not eligible for a Low-Income Subsidy, the total out-of-pocket costs for the year are $854.20/month, or $10,868.80 for the year. So, a person not eligible for a Low-Income Subsidy is paying $1,061.60/year more in out-of-pocket costs than a person eligible for a Low-Income Subsidy.

Look at your total income, and decide how much you can afford to pay for insurance. For example, you might decide you can't afford to pay more than $600/month for insurance. If you decide on a Plan F, you will have a $120/month out-of-pocket cost. If you decide on a Plan G, you will have a $250/month out-of-pocket cost. You might decide that you can't afford to pay $250/month for out-of-pocket costs, so you would go with a Plan F.

If you are eligible for a Low-Income Subsidy, you should consider a Plan G, because you can get a premium-free Part A and B benefit. If you are not eligible for a Low-Income Subsidy, you should consider a Plan F, because you will be saving $1,061.60/year in out-of-pocket costs.

If you plan on living in the same place for at least one year, it might make sense to choose a Part G, so you can have a premium-free Part A and B benefit. If you are married, it might be a good idea for one spouse to choose a Part G, so one of you can have a premium-free Part A and B benefit.

If you will be moving to a different state, it might make sense to choose a Part F, because you can always change to a Part G at your new address, and you will have the same out-of-pocket costs for the year.

In summary, a Part F is a better option than a Part G when you can afford to pay $200/month more for your out-of-pocket costs, and you are planning on living in the same place for at least one year. A Part G is a better option than a Part F when you can afford to pay $1,061.60/year more for your out-of-pocket costs, and you are planning on living in the same place for at least one year.

If you will be moving to a different state, it might make sense to choose a Part F, because you can always change to a Part G at your new address, and you will

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