Medicare Supplement insurance programs operate in conjunction with Medicare Parts A and B to help pay for medical expenses not covered by Medicare. Plan F and Plan G, two of these Medicare Replacement programs, have high-deductible alternatives with lower premiums.
A premium is the amount you must pay for uninsured medical expenses before the Medicare Supplement insurance plan begins to pay its portion. So, if your deductible is high, you'll have to pay more before your plan benefits kick in.
Medicare Supplement health policies with a high premium
High-deductible Medicare Supplement Plan F and Plan G are eligible. Here's what you need to know about Plans F and G:
Each has a standard edition, which means you won't have to wait for plan benefits to begin.
There is a high-deductible variant of each. The basic plan benefits are the same – for example, if you have Plan G, the Medicare Part B coinsurance is usually covered. The difference is that you will have to wait until you've paid the plan's premiums until the plan begins to cover your Medicare expenses.
The difference is that you will have to wait until you've paid the plan's premiums until the plan begins to cover your Medicare expenses.
In 2021, the deductibles for high-deductible Plan F and Plan G are both $2,370.
Both plans are more detailed than the other lettered options.
Plan G does not cover the Medicare Part B premium ($203 in 2021), which is the only gap in coverage between Plan F and Plan G.
Plan F, which includes the high-deductible Plan F, will be phased out over time. This package is only applicable to individuals who were eligible for Medicare before January 1, 2020. The Medicare Supplement Plan C is no exception.
If you were eligible for Medicare by the end of 2019, you would be able to purchase Plan F or Plan C.
You should normally hold Plan F or Plan C if you have them.
