Medicare Plan G is one of the most common Medicare Supplement plans. Medicare Plan G is similar to Medicare Plan F regarding the benefits and coverage. With Medicare Plan G, you are not paying a lot out of pocket for your yearly deductible. After you have paid your yearly deductible, you receive full coverage for all the Medicare gaps. Medicare Plan G offers coverage for copayments, coinsurance, and hospital deductibles. Not only do you receive that coverage, but Plan G covers 20% of expenses, Medicare Part B does not cover.
Medicare Plan G Deductibles
Medicare Plan G has become a more popular Medicare supplement plan. There are many reasons for this increase in popularity. Medicare Plan G helps fill in the gaps where Medicare does not cover certain expenses excluding the yearly Part B deductible. In 2019 the deductible for Medicare Part B was $185. And with the different rates for Medicare Plan G, you will find that you are in return, putting that deductible back into your pocket. Along with the lower cost deductible, Medicare Plan G provides excellent coverage. Medicare Plan G offers coverage for hospital costs and fully pays the hospital deductible to which can be over $1,300.
Once you have paid your yearly deductible, Medicare Plan G will then kick in and pay for all outpatient care expenses. Typically, Medicare pays up to 80% of outpatient care, and your supplement plan will cover the remaining 20%.
Medicare Supplement Plan G Benefits and Coverage
With Medicare Plan G, you will receive the same coverage as Original Medicare besides any outpatient deductibles. When opting for Medicare Plan G coverage, Medicare will first pick up their required expenses, and once you have paid the yearly deductible, Medicare Plan G will kick in and cover the remaining expenses.
When choosing Medicare Supplement Plan G, there are some benefits and coverages available.
- Medicare Part A Coinsurance and Hospital expenses
- Medicare Part B Coinsurance or Copayment
- First three pints of blood
- Part A Hospice Care Coinsurance and Copayment
- Coinsurance for Skilled Nursing Facility
- Medicare Part A Deductible
- Medicare Part B Excess Charges
- Up to $50,000 in Foreign Travel Emergency Coverage for specific plans
- Diabetes Supplies
- Durable Medical Supplies
- Ambulance Services
Enroll in Medicare Plan G
When deciding to enroll in Medicare Plan G, you can do so during the Open Enrollment period after 6 months of already receiving Medicare Part B benefits. If you are currently enrolled in a Medicare Supplement policy, you can make the switch to Plan G any time during the year. If you decide to change carriers, this can help you save money depending on the rates.
Why Choose Medicare Plan G
Medicare Plan provides excellent coverage and benefits with a low deductible rate makes Medicare Plan G one of the number one Medicare Supplement plans. While many individuals bounce back and forth with Plan G and Plan F when choosing their supplemental insurance, Plan G rarely increases by 3% depending on the carrier. This is extremely lower than the Plan F increases over the years. Also, if you choose to switch from Plan F to Plan G, you have already paid your Medicare Part B deductible for that year, so you are not required to pay that deductible until the following year!