Medicare Part G plans offer the most coverage out of any of the Medigap plans offered. With Medicare Plan G you only pay one small deductible and then get 100% coverage of all your medical bills for the rest of the calendar year.
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Medicare Part G (Medicare Plan G)
Medicare consists of a few different “Parts”. Specifically, Medicare Part A and Part B. This is called Original Medicare, however, it does not pay all your medical bills.
There are gaps in coverage in Original Medicare. These are just expenses that you are required to pay because Original Medicare (Parts A & B) do not cover everything.
Medigap plans are lettered and help supplement, or pay, most of these expenses for you. Therefore Medicare Part G is technically not a “part” of Medicare, but a Medigap Plan letter itself.
Medicare Plan G pays 100% of the gaps in Medicare after you pay the Part B (doctor’s services) annual deductible.
Once that deductible is paid, Medicare Part G (Plan G) picks up all deductibles, coinsurance, and co-payments that Original Medicare doesn’t pay. Up to no limit!
The “Parts” of Medicare
Medicare parts are typically involved with the core of Medicare. Think of them sort of as the hub of Medicare.
There’s Part A which is hospitalization, Medicare Part B which is your doctor’s services, and then things like a Medicare Part D drug plan.
- Medicare Part A = Hospitalization
- Medicare Part B = Doctor’s Services
- Medicare Part C = Medicare Advantage
- Medicare Part D = Prescription drug plan
- Medigap Plans
Medicare Supplement Plans
Medicare supplement plans aren’t necessarily “parts” of Medicare themselves, however, each plan is also designated by a letter.
The most popular Medicare supplement plan right now is Medicare Plan G.
Many people ask “What does Medigap Plan G cover”?
The easiest answer to that is, it covers almost everything! In fact, it’s easier to just explain what it does cover, and that is the Medicare Part B deductible.
Medicare Plan G coverage
Medicare Plan G pays everything except the annual Medicare Part B deductible each year. Currently, in 2021, this amount is $203 and you pay it once per year. In 2022 it will likely be close to $210.
Once the deductible is met Medicare and Plan G pay 100% of your medical bills for the rest of the year!
Medicare Supplement Plan G
The Part B deductible changes a little each year, and it’s a once-per-year deductible with Plan G. So it’s called the Medicare annual Part B deductible.
Before Medicare or your supplement plan will pay anything, you are required to pay that deductible.
Once the deductible is met, Medicare will pay 80% of your bills, and Plan G will pick up the 20% that is remaining. Plan G will also pay any costs related to Medicare Part A hospitalization, up to no limit.
Also, keep in mind that prescription drug coverage is separate.
So when it comes to choosing one of the Medicare Part G plans or Plan G plans, it becomes very simple actually. This is because every Medicare supplement plan, regardless of the letter, is standardized by the government.
And what that means is, if a company is going to offer Plan G or any plan letter, all of the benefits must be the same from company to company.
The monthly premiums are entirely different, however!
And that’s why we do what we do. We shop the rates every year for our clients and keep them paying the least amount possible, every year. And it’s FREE!
Let us help!
Call us today at 1-888-891-0229.
Medicare Plan G Companies
As you might imagine, there is a number of different companies that offer Medicare plan G. The companies we deal with have the best financial ratings, are extremely stable, and offer the lowest premiums year after year.
Some of the top Medicare supplement insurance companies are:
- Mutual of Omaha
- New Era/Philadelphia American
- United Healthcare
I highly suggest that you don’t simply go with one company because you know their name. These companies all have different divisions within them, so depending on which state you live in you could see one of their subsidiary divisions.
It’s all under the same umbrella however the rates might be different.
Mutual of Omaha is one of the most trusted names in business today. They’ve stood the test of time with over 100 years of customer satisfaction.
Mutual of Omaha Medicare Supplement Plans typically are some of the lowest premium Medigap plans available, and household discounts are offered in nearly every state they are in up to 12%.
Mutual of Omaha law has several different divisions such as:
- United of Omaha
- Omaha insurance company
- United world
Aetna has really stepped up its game the last few years with some of the most competitive premiums in the country. They offer all the most popular Medigap plans and have a household discount as well.
Just like other companies, Aetna offers products through a variety of divisions such as:
- American Continental
- Continental Life
- Aetna Health and life
Accendo is technically its own insurance company that is owned by CVS, just as Aetna is. Customer service for this company is all run through Aetna and has been fantastic in our experience.
Accendo offers the same Medigap plans as Aetna, but they do things a little differently as they have a whopping 14% household discount in many states.
So be sure to call us now to see if they’re available in your state! Call 1-888-891-0229
Cigna is a top name in the Medigap insurance world, offering all the popular plans in several states. They have a household discount in most states for couples who both carry a Cigna Medigap policy.
For Cigna, you might see different company names including:
- American retirement Life Insurance company
- Cigna health, and life
- Loyal American.
It’s important that you let a shop the rates based on your area, and we’ll see which of these companies is the best option for you.
Medicare Plan G Cost
The most important factor to consider when shopping for any Medigap plan is the fact that every insurance carrier offers the exact same plans, letters, and benefits. Their rates are all different though.
Rates are based on a number of factors, your zip code, your age, gender tobacco use.
Whether you’re applying with somebody or not, or sometimes even whether you live with somebody, you can actually get a household discount depending on the company and your state.
Call us today to see what you qualify for!
Do NOT Enroll Directly with a Company!
If you just call an insurance company and sign up directly, you will never hear from them again about lower rates from another company. They just hope you won’t find out about another rate that’s lower and leave!
You would only be seeing one rate (Theirs!), and you’ll likely miss out on what could be a much better option.
Let us help…It’s FREE!
We’ll shop all the companies at once and let you know who has the best rate. And we’ll do that every year for you when you get a rate increase.
We want to answer all of your questions when it comes to Medicare. We’ll tell you about the background of each company, and the history and how they’re doing in the market.
And we’ll, of course, find a great rate for you on Plan G, or whatever Medicare supplement plan you’re interested in.
Once we get you enrolled, you’ll most likely get a one-year lock-in on your rate.
After a year passes though, a letter will come in the mail stating that your premium is going up a certain percentage.
We’ll contact you before you even get that to let you know you’re coming up on a rate increase, and we’ll already be looking at other options to see if we can save you money.
So let’s get you started today on Medicare Plan G and find you the best rates! Whether you’re just turning 65 and new to Medicare, or you’re shopping for a better rate we’ve got you covered!