Plan G Medicare Supplement Coverage

What is Medicare Supplement Plan G?

Medicare Supplement Plan G coverage is closely similar to that of Plan F, with one sole difference; the Medicare Part B deductible needs to be paid out-of-pocket. Once the out-of-pocket costs reach the stated Part B deductible, Medicare Supplement Plan G covers every gap in Original Medicare (Part A and B)

This policy covers most of the gaps in Original Medicare and that reflects on its premium, which many people prefer over purchasing a less comprehensive policy that puts them at risk of paying out-of-pocket expenses in case a need arises for them to use uncovered benefits. As with all Medigap policies, Medicare Supplement Insurance Plan G can be purchased from health insurance carriers that provide Medigap policies.

 

Medigap Plan G Eligibility
Before covering Medicare Supplement Plan G benefits, here are the general eligibility requirements for Plan G:

– You are at least 65 years of age, a U.S. citizen or a legal resident for at least five consecutive years
– You are currently receiving retirement benefits
OR
– You are disabled and therefore receiving disability benefits
– You have End-Stage Renal Disease (ESRD)
– You have Lou Gehrig’s Disease (ALS)

 

What does Supplemental Medicare Plan G cover?

Medicare Supplement Plan G coverage includes:

– Coinsurance and hospital costs for Medicare Part A up to 365 days after Original Medicare benefits are depleted
– Deductible for Medicare Part A
– Coinsurance and copays for Medicare Part B
– Excess charges for Medicare Part B
– The first three pints of blood
– Part A hospice care coinsurance & copay with room & board
– Coinsurance for skilled nursing facilities
– Limited foreign travel emergency care

 

On the other hand, the policy does not cover:

– Routine vision care
– Routine dental care
– Hearing aids and routine hearing tests
– Cosmetic surgery
– Acupuncture
– Prescription drugs
– Medicare Part B deductible

 

How much does Medicare Supplement Plan G cost?

Every year the government establishes the costs associated with Medicare. This includes your premiums, deductibles, and out-of-pocket costs. Because Medicare Part G is considered to be one of the more comprehensive Medigap policies, the premium needs to reflect that coverage. It can, therefore, end up being costly. The exact cost, however, as with all Medigap policies, will vary from one insurance carrier to another and may depend on any other added benefits (above the base benefits) associated with the policy.

 

Medicare Supplement Plan G High Deductible

There is a less expensive alternative to this comprehensive policy, where the beneficiary must meet a higher deductible. A high deductible version of this policy dictates that beneficiaries must pay out-of-pocket costs for the first $2,340 in 2020. As soon as you meet the required deductible, you receive the same benefits under as-is under normal coverage.

 

Medicare Supplement Plan G Vs F

Medicare Supplement Insurance Plan G can offer relatively comprehensive benefits in comparison with Plan F, which new enrollees are not permitted to enroll in. The sole difference between both is the Medicare Part B deductible

 

Medicare Supplement Plan G Vs N

Plan N has the same benefits as Plan G, with the exception of coverage on Medicare Part B excess charges. Plan N also covers the Medicare Part A deductible at 50% as opposed to the full coverage of Part A deductible provided by Plan G.

Is Plan G good for you?

If you were considering one of the comprehensive plans that you can no longer enroll in and you are looking for something closely similar to them, offering comprehensive coverage, Plan G could be a good choice for you. If you still cannot decide, our website can help you compare all Medigap policies to help you make an informed choice.

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