Everything You Need to Know About Medicare Supplement Plan G

As you get older or your healthcare needs evolve, you need insurance that will give you the best coverage possible. Medicare offers great hospital, medical, and prescription coverage for adults over 65 and those with disabilities. However, out-of-pocket costs can add up quickly, leaving you to find extra money to get the care you deserve. This is when Medicare Supplement Plan G— Medigap — insurance comes in handy.

Medigap insurance, as the name suggests, fills in the gap and takes care of the additional costs that Medicare doesn’t cover. Medicare Supplement insurance has multiple letter plans — A, B, C, D, F, G, K, L, M, and N — each with its own range of coverage. 

Medigap policies are standardized, so plans of the same letter cover the same things regardless of your insurance carrier or geographic location. All Plan As, for example, cover hospital inpatient care and outpatient home healthcare, and all Plan Gs cover Medicare Part B excess charges. The only difference between plans of the same letter is the cost, which is determined by your insurance provider.

Medicare Supplement Plan G is one the most popular policies. It covers a wider range of care needs than most plans and offers peace of mind to insurance holders. Read on to learn more about Medigap Plan G — what it is, what it covers, and how much it costs.

Medigap Plan G: The basics

Medigap Plan G — also called Medicare Supplement Plan G — is a high-coverage plan available to new Medicare beneficiaries. Plan G is one of the most comprehensive plans, and replaces Plan F (which is no longer available if you turned 65 after Jan 1, 2020). 

Medigap Plan G offers comprehensive coverage and protects plan holders from high out-of-pocket costs. If you anticipate having lower healthcare expenses, High Deductible Plan G might be a good option, as it offers lower premiums and begins coverage once the deductible has been met. 

What’s covered under Medicare Plan G?

Medigap Plan G fills in the gaps of your Medicare insurance and covers a wider range of health insurance needs than most other Medicare Supplement Plans.

For one, Plan G covers your Part A deductible. That means that while Medicare covers most of your first 60 days in the hospital, Plan G covers $1,676 in out-of-pocket costs, as well as $419 per day for days 61-90 that you would have had to pay for out of pocket. 

After those 90 days of hospitalization, you can access 60 extra days for extended hospital visits — known as your lifetime reserve days. Medigap Plan G takes care of the $838 per day cost for each of those reserve days and 100% of Medicare-eligible expenses for an additional 365 days after you’ve used all 60 reserve days.

For hospital services, Plan G also pays:

  • Your Medicare copayment or coinsurance for hospice care
  • The $209.50 per day costs of a skilled nursing facility for days 21 to 100 that Medicare doesn’t
  • The first three pints of blood per calendar year.

While Plan G doesn’t cover your Part B deductible (the first $257 of Medicare-approved amounts), and Medicare pays around 80% of remaining costs, Plan G takes care of the last 20% of Medicare-approved medical expenses like physical services, inpatient and outpatient medical and surgical services, physical and speech therapy, diagnostic tests, and durable medical equipment. 

It also covers 100% of excess charges and 80% of medically necessary foreign travel emergencies in the first 60 days.

How much does Plan G cost?

The cost of your supplement premiums is determined by your insurance provider.

The cost of Medigap Plan G can vary based on a number of factors. For example, the costs of plan premiums can vary based on age, geographic location, gender, and overall health status. 

Since coverage is consistent for all Plan G plans, compare plans of the same letter when comparing costs. That is, comparing Plan N to Plan G won’t provide an accurate range of plan costs. 

Get affordable, necessary care with Medicare Supplement Plan G

Medigap Plan G helps reduce your out-of-pocket healthcare costs and allows you to get the quality care you need. Open enrollment for Medicare Supplement Plan G occurs during the six months after you become eligible and only to those already enrolled in Medicare Parts A and B. It’s also important to note that Wisconsin, Minnesota, and Massachusetts have different standards for Medigap insurance, so be sure to pay close attention if you live in one of those states. 

For more information about different Medigap plans and the best option for your healthcare needs, contact United Medicare Advisors.

Find Affordable Medicare Plans in your Area

It's free and no obligation!

Subscribe To Our Newsletter

Name