Medicare Supplement Plan G 2021

Something you probably was not aware of is that our Baby Boomer clients are more favorable of Medicare Supplement Plan G. It is the new alternate to Plan F (the most popular), but it is no longer available to new enrollees. Keep reading, and you can find out why. Nearly everyone has heard of Medicare Supplement Plan F, So, what is it anyway? What benefits does it cover?  

The only difference between Plan G and Plan F is that the latter covers the deductible for Medicare Supplement Part B. Medicare Supplement Plan G does not cover the deductible for Part B, this will be an out-of-pocket expense for you with Plan G. Although, it does give you full coverage as it covers all of Medicare’s gaps, except for Part B’s deductible of $198 (in 2020). Coverage includes co-payments, co-insurances, hospital deductibles, and even covers the 20% of Part B that Medicare leaves behind for you to pay out-of-pocket for. As mentioned above, Plan G covers everything that Medicare Supplement Plan F covers, except the Part B deductible.

Medicare Supplement Plan G takes care of your portion of all the benefits covered by Medicare with the exclusion of outpatient deductibles. However, they also help in covering inpatient hospital charges, things like blood transfusions, hospice care, and skilled nursing.

It will also cover outpatient services, like your doctor visits and lab work, medical equipment that is durable, ambulances, diabetes supplies, x-rays, surgeries, and much more. Medicare Supplement Plan G will pay their share as soon as Traditional Medicare pays for their portion.

Additionally, Medicare Supplement Plan G provides $50,000 for emergency benefits when traveling abroad.

Medigap Plan G: A Small Deductible = Big Savings

Medicare Plan G, also referred to as Medigap Plan G, has been gaining popularity, and you are about to find out why.

One of the reasons why it has become so popular is because it is one of few plans that will cover all the gaps in Medicare except the deductible for Medicare Part B. Under Plan G, this is left to come out-of-pocket. However, it is the only thing that must come out of your pocket. The yearly deductible for 2020 will be $198. If you are seeking to find rates with us, we can usually locate a Medicare Supplement Plan G that will save more money on your premiums than you would be able to save on a Medicare Supplement Plan F. Which could be substantially over $198. The cash saved goes in your pocket!

Another reason why Plan G is so popular is that it is going to pay the balance of the bill after Medicare pays its portion. If you must stay in the hospital. It also covers the hospital’s deductible, which is more than $1,400, that without having Plan G, it would be your responsibility to pay.

Medigap G will even cover all the expenses of outpatient care, once you have paid the Part B deductible of $198 for the outpatient care. After this is done one time for the year, Medicare Supplement Plan G is going to cover all the remaining expenses. Medicare pays for the first 80% of the bill, and afterward, Plan G covers the other 20%.

So, first, you pay the deductible of $198, as stated for the Part B deductible. Next, Medicare pays its portion of 80%, and then the supplement plan covers the remaining 20%. All newbies to Medicare should brush-up on their knowledge about supplement plans, this will benefit you when it comes time to select one.

Doesn’t it make sense to purchase Medicare Supplement Plan G if it cost less than Plan F where you are located? You would only need to cover Part B deductible one time per calendar year. What you save from having lower monthly premiums can give you huge annual savings.

Medicare Plan G Case Study: Amazing Coverage

For instance, James is a diabetic, and he has Medicare’s Supplement Plan G coverage. He only visits with his primary doctor one time each year. However, he must visit his endocrinologist regularly, on an average of three to four times every year, to keep his medications up to date and refilled. He will be seeing his doctor in January, and it is going to be the first visit of the year.

After the specialist sends Medicare the bill, they will pay for the first 80% (their portion), James must pay the part B deductible of $198. The Medicare Supplement Plan G covers the remaining balance of the expenses. His coverage also covers the lancets he uses, new glucose meter, and test strips. All this does not cost James anything for Medicare, and his Medicare Supplement Plan G coverage always works closely with one another. They cover 100% of what the diabetes supplies cost.

Now that the Part B deductible has been paid for the calendar year, James will not have any more out-of-pocket expenses for the year. The only co-pays he is going to have will be for medications that he gets with his prescription drug card under Part D.

To narrow this down and make it easier to understand. James will not have to spend his own money on any other expenses for the year, this includes co-payments, co-insurance, and deductibles. Neither will he have to pay for any lab work or imaging, and if he should have to have surgery, his Medicare will pay for 80% of the expenses. His Medicare Supplement Plan G is going to pay the remaining balance of 20%.

You must admit that Plan G is a wonderful Medigap plan, quite literally

For instance, James is a diabetic, and he has Medicare’s Supplement Plan G coverage. He only visits with his primary doctor one time each year. However, he must visit his endocrinologist regularly, on an average of three to four times every year, to keep his medications up to date and refilled. He will be seeing his doctor in January, and it is going to be the first visit of the year.

After the specialist sends Medicare the bill, they will pay for the first 80% (their portion), James must pay the part B deductible of $198. The Medicare Supplement Plan G covers the remaining balance of the expenses. His coverage also covers the lancets he uses, new glucose meter, and test strips. All this does not cost James anything for Medicare, and his Medicare Supplement Plan G coverage always works closely with one another. They cover 100% of what the diabetes supplies cost.

Now that the Part B deductible has been paid for the calendar year, James will not have any more out-of-pocket expenses for the year. The only co-pays he is going to have will be for medications that he gets with his prescription drug card under Part D.

To narrow this down and make it easier to understand. James will not have to spend his own money on any other expenses for the year, this includes co-payments, co-insurance, and deductibles. Neither will he have to pay for any lab work or imaging, and if he should have to have surgery, his Medicare will pay for 80% of the expenses. His Medicare Supplement Plan G is going to pay the remaining balance of 20%.

You must admit that Plan G is a wonderful Medigap plan, quite literally!

Frequently Asked Questions about Medicare Supplement Plan G

What is the Plan G deductible in 2020?                                                                                                     

In 2020, the deductible for Medicare Supplement Plan B is $198. That is the amount one must pay out-of-pocket when you have a policy for Medicare Supplement Plan G; it is what you will have to pay for Plan G’s deductible.

What Does Medicare Supplement Plan G pay for?
Plan G covers the hospital deductible, including all the co-insurance and co-payments under Medicare.

Does Medicare Supplement Plan G cover dental?

Medicare and Medigap plans do not have benefits that cover routine dental care.

Does Medicare Supplement Plan G cover prescriptions?

The co-insurances on medications under Part B will be covered by Plan G. They are the type of drugs that would be given in a clinical setting, like chemotherapy and/or injections for autoimmune diseases. However, it will not cover retail prescriptions given during an outpatient visit. It may be necessary to enroll in Part D (Prescription drug coverage).

Is Medicare Supplement Plan G better than Plan F?

We are asked this question a lot, and we tell them the same thing, which is that Plan G gives the most and has a better value in many of the states. The fact is that Plan F covers everything, though, Plan G covers everything to, except the deductible for Part B.

Why You Should Consider selecting a Medicare Supplement Plan G

There is a lower rate for Medigap Plan G from one year to another than Plan F has. Sure, the lower premiums are great, but there happens to be another reason as to why Medicare Supplement Plan G is still the most popular with consumers. The truth is that it is now known to be a long-term rate of saver. Plan G has a lower rate increase causing it to trend from one year to another. Whereas Plan F does not.

It has been during recent years that there is a 3% increase in costs or less from various providers. This tends to be much lower when compared to lower rates that tend to increase with the Plan F.

Not to mention that if you have switched from Plan F and your Part B deductible has already been covered for the year, then you will not have to pay that deductible until the next calendar year.

If you need to purchase Medicare Supplement Plan G, then you should contact us today. We can help to explain how the different premiums are calculated and how the premiums decrease as time goes on. We also tend to check the price differences between 30 main providers for your location so that you can see who has the lowest rates.

Remember, the terminology uses Plans and Parts, so you may hear someone refer to Medicare Part G plans. For instance, “What does Part G cover?”.

However, our agents will know that you mean Plan G, even if you say Part G. A simple way to remember it is Traditional Medicare uses Parts and includes A – D. Therefore, Medicare Part G does not exist. Meanwhile, Medicare Supplements use Plans.