Let’s discuss Medicare Supplement Insurance Plan G plans, which is the second most popular Medigap Plan (trailing only Plan F). This page will explain what Medigap Plan G covers, basic costs, and answer a few of your questions.
Note – We know that Medicare Supplement Plan G and other plans can be confusing. If at any time you have questions, we have licensed agents who will help you, free of charge. Call us at 888-316-1432.
About Medicare Supplement Insurance Plans (Medigap Insurance Plans) in General
As you likely know, Medicare does not cover everything, leaving “gaps” in its coverage in terms of copays and coinsurance. This means many people look to purchase a Medicare Supplement Plan to fill those coverage gaps (commonly called “Medigap” plans.)
There are ten different Medigap plans available: Plans A, B, C, D, F, G, K, L, M, and N. We know this “letter” naming convention is confusing, because Medicare itself uses some of the same letters. Medicare Part B and Medigap Plan B (for example) are two different things. Again, if anything is confusing, simply call us at 888-316-1432.
Medigap Plan G – An Affordable Medicare Supplement Option
Medigap Plan G is the second most popular Medicare Supplement plan, next to Plan F. The only difference is Plan G covers everything except the Part B deductible. Here’s a handy chart that outlines all the Medigap plans and their differences:
|Medicare Part A coinsurance and hospital costs (up to an additional 365 days after Medicare benefits are used)||100%||100%||100%||100%||100%||100%||100%||100%||100%||100%|
|Medicare Part B coinsurance or copayment||100%||100%||100%||100%||100%||100%||50%||75%||100%||100%|
|Blood (first 3 pints)||100%||100%||100%||100%||100%||100%||50%||75%||100%||100%|
|Part A hospice care coinsurance or copayment||100%||100%||100%||100%||100%||100%||50%||75%||100%||100%|
|Skilled nursing facility care coinsurance||100%||100%||100%||100%||50%||75%||100%||100%|
|Part A deductible||100%||100%||100%||100%||100%||75%||50%||100%|
|Part B deductible||100%||100%|
|Part B excess charges||100%||100%|
|Foreign travel emergency (up to plan limits)||80%||80%||80%||80%||80%||80%|
|Out of-pocket limit in 2019|
|Plan F is also offered as a high deductible plan by some insurance companies in some states. If you choose this option, this means you must pay for Medicare covered costs (coinsurance, copayments, deductibles) up to the deductible amount of $2,300 in 2019 before your policy pays anything.|
For Plans K and L, after you meet your out of pocket yearly limit and your yearly Part B deductible ($185 in 2019), the Medigap plan pays 100% of covered services for the rest of the calendar year.
Plan N pays 100% of the Part B coinsurance, except for a copayment of up to $20 for some office visits and up to a $50 copayment for emergency room visits that don't result in an inpatient admission.
As you can see, Medigap Plan G is way up there in terms of what it covers. In fact, it covers everything except the Part B deductible. This makes the second most comprehensive in terms of coverage, and also in popularity with consumers.
Who Should Buy a Medicare Supplement Insurance Plan G?
Medicare Supplement Insurance G plan is ideal for anyone who wants really comprehensive “Medicare gap Coverage” but wants to save a few dollars on premiums.
Medicare Supplement Insurance Plan G will cover all of your hospital expenses, including the $1,364 hospital deductible for 2019. And it also covers the remaining 20% that Medicare Part B doesn’t cover, once you pay the annual Part B deductible ($185 in 2019).
Since different insurers sell Medigap policies at different prices, to make the best decision, you’ll have to see the price difference between the various plans.
There really is no wrong answer here: some people don’t want to think about it and just purchase Medigap Plan F and are done with it. Others say “with the price difference vs. the deductible, it makes more sense to purchase a Medigap G Plan.”
An Example of Plan G Coverage
John has heart issues, and Medigap Plan G. He sees his cardiologist several times a year.
In January, he goes to see his cardiologist. Medicare covers 80% of the bill except for the first $185 Part B deductible. John pays the $185 deductible, and Medigap Part G picks up that remaining 20% that Medicare didn’t cover.
John’s wallet is now done for the year – Medigap will pay the rest of John’s Medicare expenses. He can get bloodwork, an EKG, urinalysis, etc. – it’s all covered. The only co-pays he needs to worry about are prescriptions (which Medicare part D handles).
So yes, can you see why Medigap plans are so popular? John has total peace of mind. ER, Hospital, etc… it’s all going to be handled. Medicare plus the Medigap Supplement Plan G he bought covers him fully.
Questions? Call us at 888-316-1432 and our licensed agents will help you, free of charge.
Medicare Plan G Frequently Asked Questions
Is Medicare Plan G going to be eliminated in 2020?- Nope. That’s Plan F. Plan G isn’t going anywhere.
Can Plan G be Guaranteed Issue?- Currently (and for 2020) Plan G is governed by Guaranteed Issue rules.
Does Medigap Plan G cover prescription drugs?- Yes and no. Plan G will cover any coinsurance left over from drugs administered under Part B. For those who need additional insurance coverage for outpatient prescriptions, you’ll need to enroll in Part D.
What does Medicare Plan G pay for?- All expenses (coinsurance and copays) that fall under Medicare but are not fully covered, as well as your hospital deductible.
Is there a Deductible for Medigap Plan G?- Yes. It’s the annual Part B deductible, which is $185.
How Can I Get Medigap Plan G?- Call us at 888-316-1432 and our licensed agents will help you, free of charge.