Did you know that Medicare Plan G is the second most popular Medicare supplement (next to Plan F) with our Baby Boomer clients? Today we’re going to tell you why. Everyone has heard of Plan F, but what is Medicare Supplement Plan G? What does Plan G cover?
We have updated this page for 2019.
Medicare Plan G coverage is very similar to Plan F. It offers great value for beneficiaries who are willing to pay a small annual deductible. After that, Plan G provides full coverage for all of the gaps in Medicare. It pays for your hospital deductible, copays and coinsurance. It also covers the 20% that Part B doesn’t cover.
As you can see below, supplement Plan G covers almost everything that F does, except for the Part B deductible:
What Medical Services Does Plan G Cover?
Medicare Supplement Plan G covers your share of any medical benefit that Original Medicare covers, except for the outpatient deductible.
So, it helps to pay for inpatient hospital costs, such as blood transfusions, skilled nursing, and hospice care. It also outpatient medical services such as doctor visits, lab work, diabetes supplies, durable medical equipment, xrays, ambulance, surgeries and much more.
Medicare pays first, then Plan G pays all the rest after you pay the once annual deductible.
In addition, Plan G Medicare supplements offer up to $50,000 in foreign travel emergency benefits.
Medigap Plan G: A Small Deductible = Big Savings
Medicare Plan G, also called Medigap Plan G, is an increasingly popular supplement for several reasons.
First, Plan G covers each of the gaps in Medicare except for the annual Part B deductible. This deductible is only $185 in 2019. If you shop rates at Boomer Benefits, we can often find a supplement Plan G that saves quite a bit in premiums over Plan F, substantially more than $185. You pocket the difference.
Second, it has great coverage. For hospital stays, it covers all your hospital expenses. Most importantly, it pays the hospital deductible, which is over $1300.
For outpatient care, Medigap G covers all but the first $183 in expenses, which is the Part B deductible. You will pay that the first time you have outpatient care for that year. After that, Supplement G covers all the remaining expenses. Medicare will pay 80% of your outpatient costs and your supplement will pay the other 20%.
If you are just starting your research into Medicare supplements, you might also read what Medicare covers, before you choose which supplemental coverage is right for you.
If Medicare Supplement G is considerably cheaper than Plan F in your area, then it makes sense to purchase it. You will pay the Part B deductible once per calendar year, but the annual savings in premiums can offset that by several hundred dollars.
Want to know which companies offer the best Medicare Plan G policies. Read our Plan G Reviews here or attend one of our free New to Medicare webinars to learn more about Supplement G or Plan F and Plan N.
Medicare Plan G Case Study: Amazing Coverage
Frank is a diabetic who has Medicare Supplement Plan G. He sees his primary care doctor once per year, but visits his endocrinologist several times a year to renew his prescriptions. In January, he goes to his first doctor visit for the year. The specialist bills Medicare, which pays 80% share of the bill except for the $183 outpatient deductible, which is billed to Frank.
His Medicare Supplement Plan G pays the rest. Frank’s coverage even provides his lancets, test strips and a new glucose meter at no charge to him. Medicare and his supplement work together to pay 100% of the costs for these diabetes supplies.
For the rest of the year, Frank will owe absolutely nothing out of pocket for covered Part A & B services. His Medicare Plan G coverage takes care of the rest. His only copays will be for his medications under his separate Part D prescription drug card.
This means he doesn’t have to worry about any more doctor copays. He won’t pay for lab-work or imaging. If he has a surgery, Medicare will cover 80% and his Plan G will cover 20%. Plan G is a really great Medigap plan in this respect.
Frequent Asked Questions about Medicare Plan G
What is the deductible for Plan G in 2019?
$185 – annual Part B deductible.
What Does Medicare Plan G pay for?
Plan G pays for your hospital deductible and all copays and coinsurance under Medicare.
Does Medicare Plan G cover dental?
No, Medicare and Medigap plans do not cover routine dental care.
Does Plan G cover prescriptions?
Plan G will cover the coinsurance on any Part B medications. These are typically drugs that are administered in a clinical setting, such as chemotherapy or injections for autoimmune diseases. It does not cover outpatient retail prescriptions. For those you would need a Part D drug plan.
Is Medicare Plan G better than Plan F?
We get asked this question all the time, and the answer is that in many states it is a better value. However, Plan F technically covers more than Plan G. We even created a Youtube video on this subject. You can find here:
Why You Should Consider Medicare Supplement Plan G
Lower premiums are a great start, but there is another reason why Medicare Plan G has become a consumer favorite. It is because Medigap Plan G is also a long-term rate saver. Medicare supplemental Plan G has a lower rate increase trend from year to year than Plan F.
In recent years, we’ve seen Medicare Plan G sometimes have an increase of 3% or less with some carriers. This is considerably lower than the rate increases from year to year on Plan F.
What’s more – if you are switching from a Plan F that has already paid your Part B deductible for the current calendar year, you won’t be subject to that deductible until next year.
Hurray for Medicare Supplement G!
Gotta get Plan G? Get in touch with us today: our licensed agents can explain how this policy often keeps premiums lower over the long term. We can also check Plan G rates for over 30 carriers for you to see who offers the lowest rates for Medicare Plan G in your area. What’s more: if you enroll through us, it costs you nothing but you’ll have access to our stellar Client Service Team if you ever run into a problem, such as miscoded doctor bills and Medicare denials.
Contact Boomer Benefits now to request a rate analysis for Medicare Supplement G policies in your area. We’d love to show the potentials savings that this supplement can put back into your pocket! Call today: 1-855-732-9055
Post- note: Because Medicare terminology uses the words Parts and Plans, you will sometimes hear people refer to Part G, or Medicare Part G plans. For example, people ask us: “What is Medicare Part G?” or “What does Part G cover?”
Insurance agents will usually know what you mean when you ask about Part G, but Plan G is the correct terminology. Here’s an easy way to remember how to use the right terms. Only Original Medicare itself has Parts and there are only four parts – A, B, C and D. So there is no such thing as Medicare Part G! All Supplement insurances, on the other hand, are called Plans. So instead of saying Medicare Part G say Plan G, and you’ll be using the correct wording. Hope that helps you!