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Medicare Supplement Plan G Benefits

Getting to know Medicare supplement Plan GMedicare Supplement Plan G

Medicare supplement Plan G has been gaining in popularity and for good reason. It is soon to be the most comprehensive Medicare supplement plan available. It is second only to Plan F in paying your share of Medicare expenses.

Insurance companies will not be allowed to sell Plan F beginning January 2020. Plan F is considered a Cadillac plan because it pays 100% of your share of expenses for Medicare-covered services.

Congress passed legislation to regulate how much a Medigap policy can pay toward your costs. The reasoning behind this is the belief that you will be to apt to use your policy more often if you don’t feel the pain of paying something prior to gaining service.

Medicare supplement Plan G (some people refer to it as Medicare Part G) includes all the coverage of Plan F minus the Part B deductible. The Part B deductible for 2017 is $183 and it is your responsibility to pay it prior to receiving any outpatient services. Common outpatient services include; doctor visits, labs, emergent care, x-rays and diagnostic testing such as MRIs and CTs.

The benefits chart: How Medicare supplement Plan G stacks up

 

Medicare Supplement Plans Benefit Checklist
A
B
C
D
F*

G

K
L
M
N
Basic Plan (Part A Coinsurance up to an additional 365 days)
x
x
x
x
x

x

x
x
x
x
Basic Plan (Part B Coinsurance/ Co-payment; 1st 3 Pints Blood; Part A Hospice Care Coinsurance/ Co-payment)
x
x
x
x
x

x

50%
75%
x
100% except up to $20 co-pay for office visits and $50 co-pay for ER visits
Skilled Nursing Co-payment ($164.50/day for days 21 – 100 for 2017)
x
x
x

x

50%
75%
x
x
Part A Deductible ($1,316 for 2017)
x
x
x
x

x

50%
75%
50%
x
Part B Deductible ($183 for 2017)
x
x
Part B Excess Charges (additional 15% for providers not accepting Medicare assignment)
x

x

Foreign Travel Emergency (up to plan limits)
80%
80%
80%
80%
80%
80%
Out-of-Pocket Maximum
$5,120
$2,560

* Plan F includes a high deductible option where $2200 is required before benefits are paid.




Who will benefit from Plan G?

When you review the benefits chart you can see that many of the Medicare supplement plans leave you without the certainty of what your costs could be. Medicare supplement Plan G, on the other hand, gives you certainty. Medicare Part G will pay all your share of expenses with the exception of the Part B deductible. In all fairness, the Part B deductible can change annually (and usually does) which does add a little uncertainty. But after January 2020 Plan G will be as good as it gets.

You should keep in mind that as the most comprehensive plan (beginning January 2020), Medicare supplement Plan G will have a higher premium than other plans from the same company. But you will know what to expect when you use your plan.

You should Compare Medicare supplement policies from several companies as the premiums can vary widely from company to company.

It’s also important to note that not all insurance companies offer Plan G. You currently cannot buy an AARP Medicare supplement Plan G. But there are several trustworthy and financially strong companies offering Plan G supplemental coverage.

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