April 19, 2021
Medicare Plan G is the most insurance coverage available to a person new to Medicare.
For many it is also the better value when compared to the other Medicare supplement plans available today. As a result, Medicare supplement Plan G is the most popular Medicare supplement plans amongst our clients. In this article we are going to answer your most common questions about Medicare Plan G. What is Medicare Plan G? What does Plan G cover? For whom is Medicare supplement Plan G the right choice?
First, it is important to understand that the benefits of all Medicare supplement Plans are standardized by the U.S. Government. What does that mean? It means that no matter which insurance company you use for your Medicare Plan G, the benefits are the same. Your experience with claims, benefits and care are all the same no matter which insurance company you choose. In fact, the only difference from one insurance company to another is what you will pay for these benefits both today and tomorrow.
Please do not misunderstand me. What you pay is very important and some people pay more than twice what other pay for the exact same benefits. However, this article is simply going to focus on answering your questions about the benefits. For our recommendations on insurance companies please contact us or request a personalized quote separately.
Second, there is more than one way to refer to Medicare Plan G. You will read the terms Medigap Plan G, Medicare Plan G or Medicare supplement Plan G, Supplemental Plan G. Each of these terms refers to the exact same thing; a standardized insurance policy is designed specifically to work with Medicare Part A and Part B to limit your out-of-pocket expenses.
In this section we will answer the question; what does Plan G cover?
It is easiest to answer that question by first looking at the benefits of Medicare Part A (inpatient coverage) and Medicare Part B (outpatient coverage. Please click the picture below to view and print the details
Original Medicare Parts A & B are designed to pay the inpatient and outpatient services and procedures prescribed by your doctor. Both Medicare Parts A & B have deductibles and copays for which you, the consumer, are responsible. With a Medicare supplement Plan G all of those copays and deductibles are paid for by your supplement except for the annual Medicare Part B deductible.
Medicare Part B is your outpatient coverage. It’s the part of Medicare that insures you when you see a doctor and are not an inpatient in a hospital. When you first see a doctor for outpatient services during any calendar year is when you will owe the Medicare Part B deductible. For 2021 the Medicare Part B deductible is $203. For example, when you see a doctor and the Medicare bill is $500, you pay $203 (your deductible) then Medicare Part B and your Medicare Plan G pay the rest.
The deductibles and copays for Medicare Part A and B can change from year to year, but with a Medicare supplement Plan G all you will owe is the amount set for the annual Part B deductible. This is an annual deductible paid only once during any calendar year. After it is paid, you have 100% medical coverage.
What does Medicare Plan G cover? This is how i like to describe the Medicare supplement Plan G :
Plan G for Medicare is a supplement that reduces your maximum annual out-of-pocket expense for inpatient and outpatient Medicare services to the amount of the annual Medicare Part B deductible.
Compare Medicare Plan G vs Plan N
Medicare Supplement plans cover the deductibles and copays associated with inpatient and outpatient care. If you are an inpatient in a hospital, your Medicare Part A and supplement cover your prescriptions. Most of the prescriptions outside of a hospital setting are covered under Medicare Part D. See our videos and articles on Part D for details or visit https://partdshopper.com/
Medicare does cover these services in some circumstances like for treatment from an injury, disease or conditions like cataracts, glaucoma and so on. As a result, for most dental services or vision for eyeglasses and hearing we offer Dental, Vision & Hearing insurance that covers what Medicare does not. Ask us for details.
Technically the Medicare supplement Plan G has no deductible. It simply does not offer insurance coverage for the Medicare Part B deductible. That deductible is the patient’s responsibility and will be billed by and paid to the medical provider. For 2021 that amount is $203.
Medicare supplement prices depend on the insurance company you choose more than any other factor. That is where we come in. Choosing the right insurance company is an important part of the service we offer. There is no set price for a Plan G or any supplement. When asked for a Plan G premium quote we do not simply quote today’s cheapest plan. Your quote is for the insurance company that we believe, based on our research and experience, will be your lowest cost over your lifetime.
Please use this form (Price Quote Request) to provide us the information we need, and we will email you a price quote for the Medicare supplement plans and companies recommended in your area.
We have found through helping thousands of people with their Medicare decisions that the people who are happy with Medigap Plan G are those who want Peace-of-Mind. They want healthcare that covers their needs without worrying about copays and deductibles. People who prefer Plan G don’t want to think about their healthcare or have to make medical decisions based on their insurance coverage. “Peace-of-mind” is the phrase we hear time and again. It’s knowing that if their doctor is recommending a certain course of action, their Plan G supplement will keep their out-of-pocket maximum expense down to just a couple hundred dollars.