Last Updated on
Medicare Supplement Plan G – Medigap Plan G
Last Updated on
Medicare Supplement Plan F is the most popular plan for today’s seniors. If that is true, why would any choose to go with Medicare Supplement Plan G. Plan G is the second most popular and is a great way to save money on your healthcare costs.
Plan G offers very good coverage with lower premiums than that of Medicare Supplement Plan F. The only difference between the two is that Plan G does not pay for Medicare Part B deductible, but Plan F does. Plan G offers significant saving options for seniors and our dedicated team is standing by to calculate if Plan G or Plan F is the most cost effective and beneficial for you.
Here’s What Plan G Covers
Medicare pays first, then Medicare Plan G steps in and pays the rest after the annual deductible has been satisfied.
Plan G offers the same comprehensive coverage of that of Medicare Plan F, except for Plan B deductible. That’s it! It is Plan F with one item removed. Here is a comprehensive list of what Plan G covers.
- Basic doctor visits
- Medicare Part A deductible, coinsurance, & hospital costs (inclusive of hospice care co-payment)
- Medicare Part B Coinsurance, co-payment, & excess charges
- Foreign Travel Emergency (up to $50,000 but varies by plan)
- Preventative Care Part B Coinsurance
- Skilled nursing facility coinsurance
- This is inclusive of most doctor services when you are a hospital inpatient and also outpatient therapy
- Durable medical equipment (DME), blood transfusions, lab work, X-rays, surgeries, ambulance rides, and much more
In short, apart from one feature Plan G is the second most comprehensive plan behind Plan F. The only difference is the Medicare Part B deductible is not covered by the plan, meaning it will be covered by you.
It is worth noting some states have slightly different Medicare supplemental benefits. If you or your loved one lives in Minnesota, Wisconsin, or Massachusetts, click here to learn more about the specifics of benefits in these states.
Medigap Plan G’s Lower premiums
Medicare supplemental Plan G is also known as Medigap Plan G.
The one item that Plan G does not cover is the Medicare Part B deductible. This annual deductible is only $185 for the year. Medicare Nationwide specialty agents are standing by to help you pocket the difference of a lower premium by switching to G plans. We want you to save and still have outstanding coverage. Medigap Plan G premiums can be significantly lower than Plan F premiums, and Plan G still covers all of your hospital expenses by paying the hospital deductible of over $1,300.
After the outpatient deductible is of $185 is met, you typically pay 20% of the Medicare-approved portion of most doctor services. In most areas, Supplement Plan G will cost only around $100 per month. Finding these prices for your ZIP code is a huge headache. Medicare.gov does not openly list these prices and most insurance companies do not post prices publicly online. Medicare Nationwide has done this work for you and captured the best possible options for your selection. Contact our dedicated agents to discuss the very best plan in your area given your budget and needs.
How Do You Decide if Plan G is for You?
If a Plan G premium in your area is $16 per month lower than Plan F, then it makes sense to go for a Plan G instead of an F plan. Plan F is going away for some seniors on January 1, 2020. We have also seen Plan F rates rise much quicker than those of Plan G.
Plan G statistics show that its rates appear to be more stable year over year. Plan G is for those that want the most bang for their buck with the added freedom to visit their own doctor without the need to receive a referral to specialists.
At the same time, Plan G seniors can be grouped in the future with young 65-year-olds who are newly eligible to join them on the same plan. This should keep rates more stable than with other plans.
Click here to find out more about Plan F going away and select which plan is right for you today.
Possible Plan F vs. Medicare Supplemental Plan G scenarios
- If the Plan G premium in your area comes back as $110 per month while the Plan F premium is $130, then you save enough money to make Plan G a financially wise decision.
- If the Plan G premium comes back as $110 per month in your area while the Plan F premium is $120, then it makes sense to be on Plan F.
We at Medicare Nationwide normally see Plan G rates about $240-$480 per year cheaper than that of Plan F.
Considering the only difference in coverage and price is the $185 Part B deductible, you can save money by simply paying the deductible. Imagine if the difference between Plan F and Plan G in your area was $480 in premiums. This would be a no-brainer cost saver – $480 minus the $185 deductible comes out to $295 in savings per year.
“Numerous times we will find clients that will be paying upwards of $300/month on their Plan F and we drop their premium down to around $100 a month.” said Jackson Edwards, certified Medicare Nationwide agent.
Contact us for exact quotes in your area & we will help you make an informed decision.
Medicare Supplement Plan G Frequently Asked Questions (FAQs)
You may have never considered Plan G before because of the comprehensive nature of Plan F. However, after learning of the potential cost savings, Plan G seems like a viable option. You still may have questions. These are the most common questions we hear from our customers about Plan G.
- What is the Medigap Plan G deductible in 2019?
- Only $185
- Does Medigap Plan G cover dental and prescriptions?
- No, it does not cover dental. Plan G will pay for the coinsurance on any Medicare Part B medication. These drugs are usually given at a doctor’s office such as chemotherapy or autoimmune disease drugs. It does not cover retail prescriptions as one would need Medicare Part D. However, many companies that offer Plan G will have both affordable Prescription Drug and Dental options.
- Does the G plan offer a stable rate year after year?
- Yes, Plan G does offer a stable rate plan that comes with immediate cost savings with the only difference being the $185 Medicare part B deductible. Plan G has historically been much more stable than Plan F, and is one reason Plan F will disappear in the future.
- Does Plan G come with guarantee issue?
- Seniors will no longer be in a position to guarantee issue into Plan F, so they will need a Plan G to qualify for full coverage with Medigap insurance.
- Which is better Plan G or Plan F?
- Well, it depends. Plan F does cover more but in many cases Plan G is more financially responsible due to the cost savings in premiums. We will run the numbers with you for your particular zip code and walk through the pros, cons, and possibly other options as well!
Medicare Nationwide’s Top Recommended Plan G Plan Carriers
- Mutual of Omaha
- And many others depending on your geolocation
Ready to Learn More about Medicare Supplement Plan G Options?
Here’s how we can help you make a good Medicare supplement decision.Medicare Nationwide offers hundreds of plan options that have been selected by thousands of American seniors since 2012. Medicare Nationwide is a boutique medical insurance agency focusing on one-to-one connections to ensure seniors select the correct plan for them.
Because of our broad industry connections, we can help find you a tailored product designed for your budget and health needs. Medicare Nationwide is a highly trusted, industry leader in the space and is authorized to offer many different carriers and plans to suit your needs.
Medicare Nationwide has been operating in the individual medical insurance industry since 2012 and is the trusted, go to source among many. Friendly Medicare Nationwide agents are standing by to give you a no-hassle quote and answer your questions. Our customers rate us Excellent or Great 100% of the time. We are ready to find the right plan for you to ensure you have the proper coverage when you need it all at the lowest possible cost.