Average Cost Of Medicare Supplement Plan 

The average premium for Medicare Supplement Insurance Plan F in 2022 is $172.75 per month, or $2,073 per year.1

Here is how the average estimated premiums of Plan F compare with that of other Medicare Supplement Insurance plans in 2022.

PlanMonthly PremiumAnnual Premium
A$257$3,081
B$144$1,723
C$189$2,271
D$141$1,692
F$172$2,073
High deductible F$72.50$870
G$132$1,594
J$169$2,023
N$112$1,342

Find Medigap Plan F in your area

The average cost of Medicare Supplement Insurance Plan F can differ based on plan selection, insurance carrier, location, pricing model and more.

Starting on January 1, 2020, Plan F will no longer be available to new Medicare beneficiaries. However, if you already have Medicare, you can still enroll in Plan F if it’s available in your area.

A licensed insurance agent can help you compare Medigap plan options available where you live so that you can find a plan that works for your health coverage and budget needs. Find your premium below.

Medicare Supplement Plan F Benefits

Medicare Supplement Insurance Plan F is standardized by the federal government. This means that the 9 basic benefits of Plan F will be the same, no matter where you live or what Medicare Supplement Insurance company you buy it from.

Medicare Supplement Insurance is the only plan to provide coverage for each of the following 9 benefit areas.

 

  1. Medicare Part A coinsurance and hospital costs (100% coverage)
  2. Medicare Part B coinsurance and copayments (100% coverage)
  3. Medicare Part A deductible (100% coverage)
  4. Medicare Part A deductible (100% coverage)
  5. Medicare Part B excess charges (100% coverage)
  6. Medicare Part A hospice care coinsurance and copayments (100% coverage)
  7. Skilled nursing facility care coinsurance (100% coverage)
  8. First three pints of blood used for a transfusion (100% coverage)
  9. Foreign travel emergency care (100% coverage)

Standard-deductible Plan F vs. high-deductible Plan F

Medicare Supplement Insurance Plan F also offers a high-deductible option (and is the only Medigap plan to do so).

The high deductible Plan F comes with an annual deductible of $2,490 in 2022. This means you must spend $2,490 out of pocket on covered services before the plan coverage kicks in.

In exchange for the higher deductible, the average premium for high-deductible Plan F was just $57.16 per month in 2018 ($686 per year), as noted in the chart above.

Medicare Plan F Vs Plan G

Medicare Plan F and Plan G are similar and offer the same basic coverage benefits, which include:1

  • Part A coinsurance and hospital costs.
  • Part B coinsurance or copayment.
  • Blood (first three pints).
  • Part A hospice care coinsurance or copayment.
  • Skilled nursing facility care coinsurance.
  • Part A deductible.
  • Part B excess charges.
  • Up to 80% of medical emergency costs during foreign travel.
  • No out-of-pocket limit.

What’s the Difference Between Medicare Plan F and Plan G? 

Although the plans have several similarities, there is one key difference between Plan F and Plan G: With Medicare Plan F, you’re getting the plan with the most coverage available. In addition to the above coverage, Plan F also covers Medicare Part B deductible payments. Plan G does not.1

This much coverage means that Plan F may come with a higher premium. However, choosing a high-deductible option for Plan F could help keep your premium down. If you’re currently enrolled in the Plan F high-deductible option for 2022, you are required to pay for Medicare-covered costs up to the deductible amount of $2,490 before your Medigap plan begins to cover any expenses.1

Which Is Better: Medicare Plan F vs. Plan G? 

No Medicare Supplement plan is better than another. It really depends on your needs and budget. However, as of December 31, 2019, Plan F is no longer available for new Medicare enrollees. Here are two things to consider as you evaluate keeping your Medicare Plan F.

  1. If coverage for the Part B deductible is important to you, you may want to stick with Medicare Plan F. If you enrolled in Plan F before 2020, you will be “grandfathered” into the plan. This gives you the choice to keep the plan past 2020.
  2. Although Plan G does not cover the Part B deductible ($203 in 2021),2 the premium savings could offset the cost of the yearly deductible. For example, the average 2021 premium ranges from $167 to $215 for Plan G and $182 to $250 for Plan F for a 65-year-old Florida woman who does not use tobacco. Plan G costs approximately $15-$35 less per month. That’s a savings of around $180-$420 a year, which pays for the annual Part B deductible.3*

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Average Cost Of Medicare Supplement Plan G

  • Medicare Plan G is the most comprehensive coverage you can buy if you became eligible for Medicare after December 31, 2019.
  • Plan G has essentially the same benefits as Plan F, except for the Part B deductible.
  • Annual premiums for Medicare Plan G typically cost between $1,500 and $2,000.
  • Some insurance companies offer extra perks and benefits for vision and dental care with Medicare Plan G.

Medicare Plan G is the most popular Medicare Supplement plan among those newly eligible for Medicare. That’s not surprising since Plan G has the most comprehensive coverage (except for Plan F, which isn’t available to new beneficiaries).

Plan G is also one of the most expensive plans, which is why it makes sense to consider your health needs and budget before you choose a Medicare Supplement plan. Here are the facts about Medicare Plan G, and tips on how to decide if it’s the right plan for you.

Medicare Plan F Going Away

Yes, Medicare Plan F has been discontinued for anyone who is new to Medicare after December 31, 2019. If you currently have Medicare Plan F, you can continue with the plan, if you so decide. If you joined Medicare on or before December 31, 2019, you can enroll in a Plan F if one is available in your area and you meet the plans eligibility requirements. This distinction is worth noting when reviewing the differences involved with Medicare Plan F vs. Plan G.