Medicare Supplement Plan G is one of the ten plans sold by private insurers offering Medicare Supplement Insurance, also known as Medigap. Medicare Supplement Insurance refers to policies that provide some relief from out-of-pocket expenses incurred under Original Medicare (Part A and Part B).
Medicare Supplement Plan G
What does Medicare Supplement Plan G Cover?
- Doctor visits, outpatient care, and durable medical equipment.
- Medicare Part A deductible for each benefit period.
- Coinsurance and hospital charge up to 365 days beyond the point when Medicare benefits are exhausted.
- Hospice care coinsurance or copayment.
- Skilled nursing facility care coinsurance.
- Part B coinsurance (20% of the Medicare-approved amount) or copayment (generally a fixed amount for the service).
- The first three pints of blood that a provider may have to buy for you.
- Excess charges (unless you live in a state where Part B excess charges are prohibited).
Medigap Plan G pays 80% of the covered cost of foreign travel emergency care:
- Emergency care has to begin during the first 60 days of your trip.
- The emergency services rendered must be medically necessary.
- A deductible is required, separate from your Medicare Part B deductible.
- The plan limits lifetime coverage to $50,000.
What does Medicare Supplement Plan G Cost?
| Company | Plan | Lowest Rate | Highest Rate | Gender | State |
|---|---|---|---|---|---|
| Aetna | G | $144.86 | $184.00 | Male | TX |
| Mutual of Omaha | G | $104.07 | $149.25 | Female | OH |
| Aetna | G | $151.94 | $178.00 | Male | PA |
| United Healthcare | G | $147.52 | $241.57 | Female | CA |
| Florida Blue (FL Residents Only) | G | $193.60 | $208.00 | Male | FL |
The price, or premium, you pay for a Medigap policy is determined by the insurance company that sells it. Therefore, it’s prudent to ask a licensed insurance agent about the pricing approach adopted by each insurance company offering Medicare Supplement Insurance in your area.
Here are examples of how you can lower your Medigap Plan G premium:
- Take advantage of discounts the insurer may offer for being a non-smoker, paying the premium yearly, authorizing automatic payments, and bundling multiple insurance policies under one carrier.
- Purchase a high-deductible Plan G. For 2023, the annual deductible is $2,700.
- Enroll during your Medigap Open Enrollment Period to avoid medical underwriting and the possibility that you will be charged a higher monthly premium based on health issues.
How and When To Enroll in Plan G
You can enroll in Medicare Plan G after enrolling in Medicare Part B, assuming you are at least 65 years old. Once you enroll in Part B, you have six months to buy a Medigap policy. That six-month period is known as your Medigap Open Enrollment Period. During that period, you have guaranteed issue rights that ensure the insurance company accepts you into the plan of your choice without medical underwriting.
You will get the lowest premiums on Plan G if you enrolli during your Open Enrollment Period. Outside of that period, the insurance company will ask questions regarding your health and may deny you coverage.
Guaranteed issue rights apply if you:
- Are you a member of an MA plan no longer offering coverage in your area
- Relocate to a location that your Medicare Advantage plan or Medicare SELECT plan (a specific type of Medigap policy) does not cover
- Have group coverage through an employer or union that is ending
- Are within your one-year trial right to switch back to Medigap after dropping it to try an alternative Medicare plan
- Live in a state where Medigap protection is mandated based on age and/or disability
Why Consider Plan G?
Original Medicare requires coinsurance, copayments, and deductibles that can add up quickly, and there is no out-of-pocket maximum. Medicare Supplement Insurance Plan G offers peace of mind that covered costs will not get out of control.
If you were new to Medicare on or after January 1, 2020, Plan G offers the most coverage of all the Medigap plan options. Before 2020, Plan F was the most comprehensive plan available. The difference between the two plans is that Plan F covers the Medicare Part B deductible ($226 in 2023) each calendar year, and Plan G does not. Plan F is no longer available to newly eligible Medicare beneficiaries.
Ready To Learn More?
Choosing the right Medicare Plan is not a decision that should be taken lightly. With Policy Guide’s assistance, you will have access to the knowledge and expertise of professional agents who can help you compare different health plans, prices, and policies to ensure that you make an informed decision. Let us guide you through this process, so that your chosen plan best suits your needs.
Article Resources
- What does Medicare Supplement Plan G Cover?
- Additional References: Aetna and Florida Blue
- How and When To Enroll in Plan G
