Medicare Plan G is a great option for anyone looking to offset health care costs that would normally come out-of-pocket. Medicare Plan G is a Medicare Supplement Insurance (or Medigap) plan that works alongside Medicare to provide this extra coverage to beneficiaries. To understand how much it costs, there are a few things worth noting.
Plan G vs. Plan F
Due to federal regulations, if you became eligible for Medicare on or after January 1, 2020, Plan F is not available to you. Plan G was created to provide comparable coverage.
If you became eligible for Medicare before January 1, 2020 and have had Plan F coverage, you are “grandfathered in” and can continue to use your plan. If not, you may consider Plan G.
What does Plan G cover?
Plan G is popular because it includes very comprehensive coverage for health care costs.
Plan G includes:
- Part A coinsurance and hospital costs up to 365 days after Medicare
- Part B coinsurance or copayment
- Blood (first 3 pints)
- Part A hospice care coinsurance or copayment
- Skilled nursing facility care coinsurance
- Part A deductible
- Part B excess charges
- 80% of foreign travel exchange costs
Does Plan G have a high-deductible option?
Yes! Because the comprehensive coverage of Plan G leads to a relatively high monthly premium compared to other Medigap plans, they’ve created a high-deductible option. This is great for people who want the coverage without the price tag.
With a Plan G High-Deductible Plan, your plan will not pay for services until you’ve paid the deductible amount out-of-pocket. This allows you to pay a lower monthly premium, yet still have great coverage in the case of a catastrophe. Just remember to build your deductible into your yearly budget!
Plan G price
Like all Medigap plans, Plan G is standardized by the government. That means that the coverage will be the same, no matter which insurance carrier you use. However, Plan G costs vary widely depending on the carrier, the plan rating, your location, your health history, and many other factors.
Prices for Medigap plans are uniquely easy to compare, but because there are so many factors that go into pricing, it can be very difficult to research on your own. We recommend reaching out to one of our Licensed Insurance Agents to get help. In one phone call, they’ll discuss your health needs and budget, help you find discounts in your area, and even help you enroll in the plan of your choice.
United Medicare Advisors’ Licensed Insurance Agents have access to the details for over 20 national carriers. This gives you a one-stop comparison shopping experience with a personal shopper to help you find the best deal for the coverage you need. Call us at (855) 665-9200 to find out how much Plan G will cost you.
