Medicare Supplement Plan G is medical insurance that is meant to cover some of the medical expenses that are not covered in Medicare Plan A and Medicare Plan B. As the name implies, this plan is to supplement Medicare plan. It covers most of the out of pocket cost that is not in the Medicare Plan A and Plan B. Medigap Plan G as it is also called is a cheap and very effective medical insurance plan. It is also one of the most popular supplement plans. Based on its wide coverage and a low cost, this insurance plan is a very good way for those above the age of 65 to save money while they get good medical attention.
What does it cover?
Medicare Supplement Plan G covers the following:
- Medicare Plan A coinsurance
- Medicare Plan A deductible
- Medicare Plan A hospital cost
- Medicare Plan B co-insurance
- Medicare Plan B co-payment
- Medicare Plan B additional fees
- Three pints of blood
- Skilled nursing co-insurance
- Emergency foreign travel.
As shown above, this plan covers a wide range of out of pocket costs. It also has a unique value of covering overseas foreign travel for emergency medical treatment. What you can claim on this travel, however, depends on the particular plan you purchase.
The plan also covers blood transfusion and you can get up to a maximum of three pints on your coverage. Another important cost that is in this plan is the excess charges of Medicare Plan B. Excess charges are the cost you pay when your healthcare provider does not accept Medicare.
Perhaps, the only out of the pocket cost of Medicare Plan A and Plan B that is not in this plan is the Medicare Plan B deductible. That is not huge anyway. Therefore, if you are ready to pay the Plan B deductible, then why not take advantage of the cheap premium of Medicare Supplement Plan G to get a lot of out of pocket cost off your neck.
A plan from the services that we discussed above, there are many other benefits you can get from your private health insurance provider, once you buy an insurance policy from them. Those extra values you can get include membership to their gym club, personalized exercise plan, and personalized dietary plan. You can also enjoy discounts on drugs you buy as well as medical bits of advice.
How much does it cost?
Medicare Supplement Plan G is very affordable, that is the reason it is very popular among the seniors. The cost varies from one private insurer to another. The cost is also constantly changing as the plan is always being modified. It is, therefore, difficult to generalize a particular amount for the plan. But we have the price for the year 2021. We, therefore, encourage you to compare the prices of different private Medicare supplement Plan G for the year 2021.
The information on this website is current and comprehensive. You can use our tools to compare the cost and you will obtain the result in a few minutes. We also encourage you to ensure you are checking regularly to see how the rates are changing and get the up to date information from us before you eventually choose the provider to buy from.
Who can enroll?
Medicare Supplement Plan G is available to anybody above the age of 65. Persons younger than 65 years can also buy the plan if they already have Medicare Plan A and B on disability ground or if they are suffering from near-end renal disease. There is a window to purchase this policy. If you apply for plan G during the time the window opens, you stand a good chance of having your application considered. You will also enjoy a good price at that time. Your window opens the month you clock 65 years of age and remains open for six months. But that does not mean you cannot apply for this plan outside the window. It only means you stand to get the best deal when you apply during this window.
Does everybody need Medicare Supplement Plan G?
Medicare Supplement Plan G is a good plan that is also cheap. Despite all these great features, not everybody needs this plan. Medicare Supplement Plan G covers so many things and some people may consider it as being too wide in its coverage. For example, you may not see any reason for purchasing a plan that covers overseas medical treatment. Hence it may be a waste of money paying for a plan that you don’t even need most of what it offers. Therefore, if you think this plan is too wide in coverage for you, you may consider a smaller plan.
Again, if you have Medicare Plan D, which coverage includes most of the cost of your prescription drugs, this supplement plan may overlap, and it may be a waste of money paying for two policies that have the same coverage.
Also, your employer or your union may have already enrolled you in a plan that is similar to Plan G, or you might have bought another plan that includes the majority of what Plan G covers. In any of the above cases, you might need to start looking for another plan that will be cost-effective. This website is here to assist you in doing that.
Our team of experts can also assist you in deciding on a plan that is best for you. Medicare Advantage Plan, Medicare Plan D, and Medicare Supplement Plan N are all possible alternatives. But the choice depends so much on your specific need. After considering carefully your need, we can advise you on the best plan for you. When you have got the right plan for you, then you can use our tools, to compare the prices of the plan as offered by different private insurance providers. At the end of it all, we will help you ensure you get the best plan that fits you at the best price.