Medicare Supplement plan G goes by other different names such as Medicare Part G or Medicare Plan G. But the other proper name that you should call it is Medigap plan G.
Medigap Plan G offers a lot of great benefits for its beneficiaries making it almost identical to Medigap Plan F.
Just like other types of Medigap plans, Medigap Plan G helps its beneficiaries pay for out-of-pocket costs not covered by Original Medicare. It has the following benefits:
- Part A hospital coinsurance and hospital costs up to 365 days after Original Medicare benefits are exhausted
- Part A hospice care coinsurance or copayment
- First three pints of blood for a medical procedure
- Part A deductible
- Part B preventive care coinsurance
- Skilled nursing facility (SNF) care coinsurance coverage
- Part B coinsurance or copayment
- Part B excess charges
- Limited foreign travel emergency medical care
It doesn’t cover Medicare Part B Deductible.
Take note that only two Medicare Supplements covers Medicare Part B excess charges, and one of them is Plan G. This is an important thing to consider because excess charges are additional healthcare costs that you need to pay beyond what Original Medicare covers.
In Medicare-covered services, the Medicare program has a set of approved payment rates that regulate what doctors and providers are allowed to charge you. Excess charges occur when the doctor or provider you went to does not accept the assignment or the Medicare-approved amount as your full payment. When that happens, that provider can charge you an additional of up to %15 above the Medicare-approved amount. If you have Medigap Plan G, it will cover the excess charges 100%, and you won’t have any out-of-pocket costs for this expenses.
Medical costs if you have Medicare Supplement Plan G
Here’s an estimated breakdown of how much you’ll spend on your healthcare expenses when you are covered by Medigap plan G:
What You Will Pay If You Have
Medigap Plan G in 2019
|What You Will Pay|
|Medicare Part A Deductible||None|
|Coinsurance (days 61-90)||None|
|Coinsurance (days 91 and beyond)||None|
|If you use all the lifetime reserve days||None|
|Skilled nursing facility coinsurance days 21-100||None|
|Medicare Part B deductible||$185|
Medigap Plan G provides all benefits of Medigap plan F except the annual Part B deductible. The deductible for the year 2019 is only $185. When you reached the yearly deductible, Medigap insurance plan G will then cover all the remaining expenses for the rest of the year. Medicare will pay for 80% of your healthcare cost, and your Medigap will pay the remaining 20%.
Generally, Medigap Plan G premiums are cheaper than Plan F. By just paying the annual deductible, you’ll eventually have the coverage just like Plan F but with cheaper premiums. That way you saved several hundred dollars in this type of plan.
Is Medicare Supplement plan G right for you?
Choosing the best Medicare Supplement Plan involves comparing of plans. If you want a comprehensive plan and are confused which plan to choose between Plan G and Plan F, then you have to take a closer look at their differences. The only difference of Medigap Plan G from F is that it does not cover Part B deductible.
If you feel that this plan is right for you, request for quotes today! One of our licensed insurance agent will be happy to discuss this option with you. Just fill out the form and and one of us will reach out to you.
This website is for informational purposes only. Nothing should be used to replace any expert or professional medical advice.