Medicare Supplement Insurance Plan G is among the most comprehensive Medigap plans available in most states.
Medicare Supplement Insurance works alongside Original Medicare (Part A and Part B) to cover some of the program's out-of-pocket costs such as deductibles, coinsurance and copayments.
Medicare Supplement Plan G Benefits
Medicare Supplement Insurance Plan G coverage includes eight of the nine available Medigap benefits.
Medigap Plan G insurance basic benefits include:
- Medicare Part A hospital coinsurance and hospital costs (up to 365 days after Original Medicare benefits are used up)
- Medicare Part B coinsurance or copayment (20% of Medicare approved charges)
- First three pints of blood
- Medicare Part A hospice care coinsurance or copayment
- Medicare Part A deductible
- Medicare Part B excess charges
- Skilled nursing facility (SNF) care coinsurance coverage
- Foreign travel emergency coverage (80%, up to plan limits)
Medicare Part B Deductible
Medicare Part B covers a range of medical services (both preventative and diagnostic). However, before your coverage kicks in, you must satisfy your Medicare Part B deductible. In 2017, the Medicare Part B deductible is $183 per year. Beneficiaries with Medigap Plan G have to pay this cost out of pocket, but in exchange, Medigap Plan G premium rates are usually lower than the more comprehensive Medigap Plan F.
To see how Medigap Plan G benefits compare to those of other Medigap plans, refer to the chart below.
Changes are Coming in 2020
As a result of Section 401 of the Medicare Access and CHIP Reauthorization Act (MACRA), supplement plans that cover the Medicare Part B deductible will be phased out Jan. 1, 2020. People who already have these types of policies will be exempt, but if you become eligible for Medicare following the 2020 change, Medigap Plan C and Medigap Plan F will no longer be options.
With the elimination of Medigap Plan F and Plan C, newly eligible beneficiaries looking for comprehensive supplemental insurance will most likely be referred to Medigap Plan G and Medigap Plan D.
To find out more about Medicare Supplement Insurance plan benefits, speak with a licensed agent. We’ll help you assess your personal health needs and budget, and determine whether Medicare Supplement Insurance Plan G is the right Medigap plan for you.
Speak with a licensed agent to compare Medigap plan options by calling 888-264-0148.