Medicare Supplement Plan G
Did you know that Medicare Supplement Plan G is now the most popular supplement with our new clients? As of January 2020, Medigap Plans sold to new people with Medicare are not allowed to cover the Part B deductible ($198 in 2020 and $203 in 2021). Because of this, Plans C & F are not available to people new to Medicare.
As a result, Medicare Plan G has become very popular. Medicare Plan G coverage is very similar to Plan F, and is available to all Medicare Beneficiaries. Plan G offers great value for beneficiaries, as it provides coverage for the gaps in Medicare for Medicare Approved Amounts. By gaps, we mean your co -pays and co – insurance that are required under Medicare. For example, Plan G pays your portion of Part A co- pays and co- insurance (for hospitalization) and also covers your 20% co -pays that Part B does not cover and also covers excess charges. Excess charges are surcharges that your doctor can charge above and beyond what Medicare will reimburse. They are limited to 15% beyond what Medicare pays. Many doctors do not charge excess charges, but occasionally they do. If this concerns you, then Medigap Plan F or G might be a better choice than some of the other plans
In summary, a Medigap plan, or Medicare Supplement, pays after Medicare to help cover your deductibles, copays, and coinsurance that you would otherwise be responsible for. Medigap plans do not replace your Medicare Part B. You must be enrolled in both Part A and Part B first, then you are eligible to enroll in Medicare supplement Plan G.
When you add a Medicare Supplement Plan F or G to your Original Medicare benefits, your coverage will be quite comprehensive.
|Medicare Part A coinsurance and coverage for hospital benefits||✔|
|Medicare Part B coinsurance or copayment||✔|
|Blood (first three pints)||✔|
|Hospice Care coinsurance or copayment||✔|
|Skilled Nursing Facility Care coinsurance||✔|
|Medicare Part A deductible||✔|
|Medicare Part B deductible||❌|
|Medicare Part B excess charges||✔|
|Foreign Travel Emergency (up to plan limits)||✔|
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