Medicare Supplement Plan G
Medicare Supplement plans are incredibly useful for their ability to erase out-of-pocket costs. You can choose between Plans A, B, C, D, F, G, K, L, M, and N. Plan G stands out as one of the most comprehensive forms of Medicare Supplement coverage possible. It is second only to Medicare Supplement Plan F, and that’s by a very narrow margin.
Medicare Supplement Plan G is available for anyone who is enrolled in Original Medicare (Part A and B).
What Does Plan G Cover?
Plan G’s coverage is so broad that there’s no telling how much you can potentially save on your medical expenses. It covers everything a Medicare Supplement plan possibly can, with the exception of the Medicare Part B deductible. The reason why it doesn’t cover the Part B deductible is because Medicare Supplement plans are no longer allowed to cover it. The plans that do are being phased out and are only available to those who turned 65 before January 1, 2020.
Medicare Supplement Plan G covers:
• Medicare Part A hospital coinsurance (and all other costs for 365 days after Medicare coverage has been exhausted)
• Part A deductible
• Part A hospice care coinsurance or copayment
• Skilled nursing coinsurance
• Part B excess charges
• Part B coinsurance or copayment
• 80% coverage for foreign travel emergency
• First three pints of blood
Who Is This Policy Right For?
Medicare Supplement Plan G is a great plan for someone who requires frequent medical treatments, both as an inpatient and outpatient. It’s also for those who want the comfort of knowing that they’ll be ready to handle whatever new medical expenses come their way.
It’s also for the same person who would have joined Plan F, but can’t due to turning 65 on or after January 1, 2020. Fortunately, there is not a significant gap in coverage between Plans F and G. The Part B deductible is only $203, which is an annual fee that is cheaper than most health insurance premiums. While Plan G doesn’t cover everything, it is still a great choice for individuals looking for lower out-of-pocket expenses.
