One of the plans that seniors will be signing up for more than others this year is the Medicare Supplement Plan G. It’s a high coverage plan with a lot of value for its price tag, and we want to focus in particular here on the benefits of Mutual of Omaha Medicare Supplement Plan G.
Why Plan G is Important for Seniors
This is a plan that can cover most of the medical expenses that fall under the supplementary category. That does not include things like dental or vision or medication, but it does cover you for deductibles, copayments and other expenses that you are responsible for paying if you have a basic Medicare plan. You do need to have that basic Medicare coverage if you want any Supplement plan, Plan G included. The Supplement plan will only work if it is attached to a basic Medicare plan, since it fills in gaps in coverage created by that Medicare plan.
You don’t get Plan G from Medicare, though, even if it does correspond to Medicare coverage. This is something only private insurance companies like Mutual of Omaha are offering. Now, Medicare will oversee these plans and even design them to have the coverage it wants, but it allows private insurance providers to sell them.
Plan G is one of Mutual of Omaha’s most popular plans, and that’s because it covers so many things and does so at a reasonable price point. It covers the Medicare Part A copayment, the Part B copayment, Part A hospice insurance, skilled nursing care coinsurance, Part B excess charges, Part A deductible, three pints of blood each year and foreign emergency medical transport.
Only one other plan covers more than that- Plan F- and it usually costs a lot more. So, you can see why Plan G is considered such a value proposition and why it is so popular among seniors. The cost of this plan will vary based on where you live and what Mutual of Omaha would like to charge for the plan, but it can save some seniors hundreds and even thousands of dollars every year on medical care.
How You Get Plan G through Mutual of Omaha
If you want this plan, you will need to apply through the insurance company directly. You can go to Mutual of Omaha’s website or one of their offices and complete the application form that they have there. Even though their name says “Omaha”, they operate in most of the states.
You will need to be eligible for Medicare for your application to be approved. You become eligible by meeting the requirements, which generally consist of being 65 years old or having a qualifying medical condition.
Like we said before, you also need a basic Medicare plan in order to qualify, since the two plans work together, and the Supplement plan requires the Original Medicare plan to work.
The benefits of Mutual of Omaha Medicare Supplement Plan G are not exclusive to this insurance company. Other companies sell the same plan with the exact same benefits. In fact, they are required to abide by Medicare’s coverage and benefits rules for each plan, if they want to sell them. You are guaranteed the same coverage for Plan G no matter where you want to buy it from. The benefit of going through Mutual of Omaha is that you get to enjoy their customer service and member benefits. They actually have a very positive reputation for taking care of their customers and providing them with valuable services that make them a premier selection for many seniors.
Do You Need Plan G?
As economical as Plan G may be for many seniors, it isn’t always the best choice. It may be the plan that more people sign up for than any other, but that does not mean it is right for you. It is up to you to ask yourself the right questions and find out if this is really the plan for you.
First of all, you need to ask if you actually require all the coverage it is offering. Do you need to be covered for Medicare Part B excess charges or for the Part B deductible? If you can live without those, then you should go for a lower coverage plan, such as Plan N, which covers less.
You should also ask yourself if you would save money by choosing this plan over another. Determine if you pay less each year by signing up for Plan G or by paying for medical expenses out of your own pocket. This will help you determine if you need a Supplement plan at all. Not everyone does.
Once you know the answers to those questions, you can better decide if Plan G is right for you. It is really designed for someone who has a lot of medical expenses, as it does cover lot of medical costs for you. It is important that you compare what it has to offer to other similar plans to see how it stacks up and to determine which plan covers you the best. Keep in mind that you will have this plan for at least a year, and you need to ensure it covers you properly throughout that year. You might not know what medical expenses you have to pay over the coming year, but you can guess, and you can talk to your doctor to provide a more educated professional option about what you might be facing medically in the coming year.
The benefits of Mutual of Omaha Medicare Supplement Plan G can make a huge difference in your life and how much you are paying out of pocket for healthcare. Mutual of Omaha is a good insurance company for many seniors, and their plan can save you money, if it is a good fit for you. Follow the tips we laid out for you and examine your own needs to find out what coverage plan will work best for you.