Medicare Supplemental Plan G
Medicare Supplemental Plan G is one of the most comprehensive Medigap plans that is available. It covers everything that Medicare Parts A & B do not cover, with the one exception of the Part B deductible (for 2012, this deductible is $140/year). Because of this, it is also one of the more common plans, and really, is often the best value among available plans.
So, What Does Plan G Cover?
As mentioned above, Plan G is one of the most comprehensive Medicare supplemental plans. It fills in all of the gaps in Medicare except for the Part B deductible (for 2012, $140/year). What does this include:- Plan G covers the Medicare Part A deductible ($1156 for 2012)
- The plan covers the full 20% after the deductibles are met at the doctor and hospital (this is called the Parts A & B coinsurance)
- Plan G cover the 20% skilled nursing facility coinsurance - the portion that Medicare itself doesn't cover
- It pays for the first 3 pints of blood
- It pays the Part B "Excess Charges" in full (occurs when a doctor doesn't accept Medicare's payment schedule and bills over that amount)
- Plan G covers the Medicare Part B preventive care coinsurance (20%)
- The plan covers for Foreign Travel emergencies, up to plan limits ($50,000 lifetime)
Get Medicare Supplemental Plan G Quotes
Should I Choose Medicare Supplemental Plan F or Plan G
Medicare Supplemental Plan F is the most common plan available. Approximately 40% of people choose this particular plan, and nearly all companies offer this plan as an option. Some even "push" this plan more than others. However, that does not necessarily mean it is the best "deal".
Because it is more comprehensive, Plan F is also more expensive. The premiums for Plan F are typically between $10 and $25/month more than Plan G premiums. Since the only benefit difference is the coverage of the Part B deductible, the math is easy to do. If the premiums savings is greater than the Part B deductible amount, it's easy math to do. In that case, Plan G would obviously make more sense.
One additional consideration that is in favor of Medicare supplemental Plan G is that it is typically more rate-stable than Plan F. The reasons for this relate to the complex topic of "adverse selection". But put simply, the people on Plan G are, on average, healthier than the people on Plan F (because Plan F must be offered in certain "guaranteed issue" situations), which leads to more claims, more rate increases, etc. When Plan F has a rate increase, Plan G typically also has an increase, but in many cases, the increase on Plan G rates would be lower than the increase on Plan F policies.
How to Get a Medicare Supplemental Plan G Quote
Obtaining a Medicare Supplemental quote is easy to do. Plans are Federally-standardized, so comparing the plans on the basis of cost is the most important thing to do and the wisest way to make an informed decision. To get more information or supplemental quotes, simply visit the Medicare Supplemental Plan G Quotes page of this site.