Medicare offers several supplemental insurance plans that come with lots of coverage. These high coverage plans include Medicare supplemental plans F, G and N. We are going to look at the high coverage plan right in the middle- Medicare Supplemental Insurance Plan G for 2018.
This is a well-rounded plan that provides many benefits but doesn’t have the high cost of Plan F. It is considered one of the more cost-effective plans out there, as it includes so much coverage at what is often a very reasonable price. You won’t have to pay a lot of get some incredible value with this plan, and that is why it is worth pointing out and examining.
Plan G is the most popular plan right now, taking that title from Plan F recently. More Medicare subscribers choose it over any other plan, thanks to the extensive medical coverage it provides and the peace of mind it gives them about their healthcare expenses. There are some very similar plans, so it is worth looking closely at this plan to see what makes it stand out and why it might be a good choice for you as you try to cover your medical costs.
Plan G and Its Coverage
While many of the Medicare supplement plans are very alike as to what they provide coverage for, there is something unique about each of them. Plan F, for example is the full coverage plan. Plan G is almost a full coverage plan, but it won’t cover one item that Plan F does. That’s the Medicare Part B deductible. All the other supplemental expenses are covered under this plan. That’s true no matter where you buy it from, and that’s something every Medicare subscriber should know.
Whether you purchase Plan G from Aetna, Cigna, AARP, Mutual of Omaha or one of many other insurance companies out there that sell these plans, you still get the same coverage. It still won’t cover Medicare Part B’s deductible for you, and it still won’t be as expensive as Plan F is from that insurance company.
Here is what it does cover, though:
Medicare Part B Excess Charges- That’s an expense that you may not pay regularly, but it can be expensive at times, and it helps to have it covered for when it is a surprise to you.
Hospice Care- You get 365 days of extra coverage for this expense. It is one that Medicare’s basic plan already provides coverage for, but plan G goes much farther and gives you an additional straight year of coverage for this expense.
Medicare Part A and Part B Copayment- These are some of the most common medical expenses left to you to pay after the basic medical plan provides its coverage. If you need some powerful coverage for the most common expenses, then you want to ensure that these are covered.
Medicare Part A Deductible- We said the Part B deductible won’t be covered by Medicare Supplemental Insurance Plan G for 2018, but the Part A deductible is. That’s some handy coverage to have, as this expense pops up almost every time you go for medical care. Without this coverage, you would have to pay it before you can receive the rest of your Part A coverage.
Foreign Travel Exchange- This is not an expense most people will have to pay often if they don’t have this coverage, but it is a handy one to have covered. Anytime you are travelling or are near the border, you run the risk of having to be transported across the border to receive medical care. That can be expensive, and this coverage takes care of much of that cost for you. It will cover you for up to 80%, though you will have to pay the required deductible.
Nursing care Coinsurance- You can be covered for this expense as well, if you go for care at those facilities that Medicare approves.
Which One Is the Right Plan?
The top question on any Medicare subscriber’s mind as they start looking at Medicare supplement plans is which one will be right for them. Since there isn’t a single plan that can be called the best one, people must examine the plans for themselves and try to choose the one that fits their budget and their coverage needs.
They may have some trouble sorting through all the plans, but they shouldn’t become discouraged. If they simply eliminate those plans from the list of available ones that are not for them, then they would have fewer ones to sort through. For example, if you are mostly covered by your medical insurance plan currently, then you don’t need a lot of supplemental insurance. You can afford to pay the bills on your own and you probably only need a little bit of additional coverage. In that case, one of the lower coverage plans will be a good choice for you.
If, on the other hand, you have tons of medical expenses you are paying on out of your own pockets and it seems like Medicare is barely doing anything for you with its base plan, then you need some serious supplemental coverage, and you should probably be looking at the high coverage plans- F, G and N.
You must pick the plan that suit your current needs. Of course, you want to consider your future needs as well. That’s why you don’t want to just buy coverage for the expenses you are paying on right now. You also want to think about what might happen in the near future and if you want to bother buying coverage to protect you from eventualities and emergencies.
There is a lot to look over and compare, and we suggest you take plenty of time to examine it all before choosing a plan. If you need additional help deciding which plan to choose, please talk to your insurance agent about the kind of coverage that’s ideal for you and if Medicare Supplemental Insurance Plan G for 2018 is your best choice.