Medicare Plan G is the most popular Medigap Plan available to people on Medicare. It offers 100% coverage of the “gaps’, or expenses in Medicare with just one small deductible. It has outstanding coverage and relatively low premiums.
More people will enroll in Plan G than any other Medigap plan this year, particularly during the open enrollment period.
Watch the quick video below to learn more about Medicare Plan G!
Medicare Supplement Plan G – The Top Plan
While there are actually ten different Medigap Plans people can choose from, most people only enroll in one of three plans. The most popular Plan by far is Medigap Plan G.
It has the most coverage, offering 100% coverage of all your medical bills after you pay a low deductible.
The most important thing to consider when it comes to any of the Medigap plans is that each company offers the exact same coverage. This means a Plan G from one company has the exact same benefits when offered by anyone else.
Each company charges different rates for the exact same coverage though!
You absolutely must work with an independent agency like us to help you shop the rates from all the carriers each year. First of all, it’s FREE. Secondly, not only can you get rates from each company on your own when you’re just starting, but you will also get a rate increase every year regardless of the company.
That means you’ll have to shop every year, over and over again or you will end up overpaying.
Medigap Plan G Benefits
Medicare contains “parts” that make up your coverage. They are:
- Medicare Part A – Hospital coverage
- Medicare Part B – Outpatient doctor’s services
- Medicare Part D – Prescription drug plans
Part A and B are called Original Medicare, and they handle all your medical bills. They do not, however, cover everything. The bills they don’t cover are called “gaps”. These gaps are expenses such as:
You are required to pay these gaps. Or, you may enroll in a Medigap plan which does it for you. Medigap Plan G pays almost all the gaps.
Medicare Part B
Medicare Part B is what most people use the most because it covers regular doctor’s visits. Prior to Medicare Part B paying any of your bills, you are required to pay a small annual deductible. In 2021 this deductible amount is $203.
The deductible goes up slightly each year, and will likely be approximately $208 in 2022.
So you are required to pay the first few hundred dollars of your medical bills, and Medicare will come in and pay 80% of each medical bill for you. That leaves 20% which you are still required to pay.
What Plan G Medicare pays
Medicare Plan G will in fact pay the remaining 20% of all your medical bills. And this is up to no limit.
Medicare Plan G Coverage includes:
- Any Medicare Part A hospital costs and coinsurance
- Medicare Part B co-pays
- Medicare Part B excess charges
- A foreign travel benefit that pays up to 80% of your emergency bills
- The first three pints of blood for any transfusions needed
- Hospice care costs under Medicare Part A
- The Medicare Part A deductible if you’re admitted to the hospital
Medicare Plan G pays everything except the annual Part B deductible.
Medicare Plan G Cost
Remember each carrier offers the exact same Plan G with the same benefits. This is because the plans are standardized by the government. This means all companies must offer the same coverage within each plan letter.
They can, and do, all have different rates for the same thing though!
Medicare Plan G rates are determined by:
- Tobacco use
- Zip Code
- Household discounts (if applicable)
Medicare Plan N vs Plan G
Another very popular Medigap plan is Medicare Plan N, which is also a great plan to consider.
Plan N has lower rates than Plan G, but it also has some additional out-of-pocket expenses that you may incur.
With Medicare Plan N, you pay:
- The annual Medicare Part B deductible
- Up to a $20 co-pay per doctor’s visit
- A $50 Emergency room co-pay if you’re not admitted
- Part B excess charges (Rare, and where applicable)
Medicare Plan N Cost
Medicare Plan N does have lower premiums than Plan G, in fact up to $30 per month lower in some cases. This is a great option for people who are healthy and do not visit their doctor often.
To compare the rates of Medicare Plan N vs Plan G, simply complete the form to the right of this page. Once complete you will instantly view the rates of Plan G and Plan N from the most popular companies to see which one is right for you.
Click below to learn more about Plan N
How to Enroll in Medicare Plan G
The easiest way to get started and enroll in Plan G is to just call us today at 1-888-891-0229, or click below to set an appointment to speak with one of us.
You can choose which time and day work best for you, and we’ll call you then to get you started. It’s easy!