Medicare has enabled people to have the benefit of affordable health insurance but little is known about Medicare plan G. Read this article for a complete overview of Medicare plan G.
As of 2020, approximately 14.5 million Americans were enrolled in Medicare Supplement plans. 1 Medicare Supplement Plans, also known as Medigap plans, are popular because they cover the parts of your medical bills that Original Medicare does not cover, such as copays or deductibles for Part A or Part B.
Plan G, which has been available to new Medicare enrollees since January 1, 2020, provides the closest available coverage to Plan F. With one exception: your Medicare Plan B deductible, Medicare Supplement Plan G covers the majority of out-of-pocket costs that Original Medicare does not cover. This will be $170.10.2 in 2022.
Many seniors choose Medicare Supplement Plan G insurance because of its low cost and comprehensive coverage, but the process of finding a provider can be confusing and overwhelming, which is why we’re here to assist. Continue reading our article for a complete overview of the best Medicare Plan G providers and their comparison.
Table of Contents
- 1 What is Medicare Supplement Plan G
- 2 What does Medicare Supplement Plan G cover?
- 3 Who can sign up for Plan G?
- 4 How and when can you enroll in Plan G?
- 5 How much does Medicare Plan G cost?
- 6 Different ways in Medicare supplement plan g is priced
- 7 Medicare Supplement Plan G providers
- 8 Medicare Supplement Plan G providers of 2022
- 9 How to shop and compare Medicare Supplement Plan G
- 9.1 Step 1: Determine if you are eligible to enroll in Medicare
- 9.2 Step 2: Decide if you want to enroll in Medicare Parts A and B, or a Medicare Advantage plan
- 9.3 Step 3: Find out what Medicare Supplement Plan G plans are available in your area
- 9.4 Step 4: Determine if you would like a regular or a high-deductible Plan G
- 9.5 Step 5: Check Plan pricing and coverage
- 9.6 Step 6: Get an expert opinion
- 9.7 Step 7: Sign up for coverage
- 10 What is the difference between Plan F and Plan G for Medicare Supplement Plans?
- 11 Can I keep my Plan G if I move to another state or country?
- 12 What Is the difference between Plan G and Plan G with a high deductible?
- 13 Conclusion
What is Medicare Supplement Plan G
Medicare Plan G is one of ten Medicare supplement policies that supplement Original Medicare by filling coverage gaps. As a result, many seniors choose Plan G to provide them with financial support while they are enrolled in Medicare. Despite being one of the most comprehensive policies available, Plan G does not cover the Medicare Part B deductible.
What does Medicare Supplement Plan G cover?
According to the Centers for Medicare and Medicaid Services, original Medicare, which covers hospital care, doctor’s visits, and related services, does not cover all care. There will still be a deductible and possibly copays or coinsurance fees.
Original Medicare also excludes coverage for certain services, such as routine dental care, hearing aids, and cosmetic procedures that are not medically necessary. Depending on the cost of your care, you may face large copays that eat into your budget or a deductible that makes it difficult to cover your care out of pocket.
The cost of Original Medicare deductibles, coinsurance, and copays is covered by Medigap supplemental insurance. It may also cover a variety of services that are not covered by Original Medicare. Medigap Plan G is also available in some states as a high-deductible plan.
|Medicare Plan G benefits||Covered?|
|Medicare Part A coinsurance and hospital care||✔|
|Medicare Part B coinsurance||✔|
|Blood (first 3 pints)||✔|
|Part A hospice care coinsurance and copay||✔|
|Skilled nursing home coinsurance||✔|
|Medicare Part A deductible||✔|
|Medicare Part B deductible||❌|
|Medicare Part B excess charges||✔|
|Foreign travel emergency||✔|
Medicare Plan G will not cover your original Medicare Part B deductible, which costs $170 in 2022. You would pay for medical services—such as outpatient care, preventive care, and ambulance services—out of pocket until you have reached the deductible amount. Then Medicare would cover your health care costs.
Who can sign up for Plan G?
You may be able to enroll in Plan G if you qualify for Original Medicare. Medicare is available to American citizens and legal permanent residents who have lived in the United States for at least five years. Working for ten years or more is required to qualify for Part A without paying a premium. If you have not worked in the United States for ten years, you may still be eligible for Medicare, but you must pay the Part A premium. In most cases, you must be 65 years old or have a disability that qualifies you for Social Security disability benefits.
The only exception to the 2-year wait for Medicare is amyotrophic lateral sclerosis (ALS). Cancer and other diseases, such as early-onset Alzheimer’s disease and some cases of breast cancer, maybe considered disabilities if it meets the SSDI criteria and the 24-month waiting period applies.
How and when can you enroll in Plan G?
During open enrollment
The Medigap Open Enrollment Period is the best time to enroll in Plan G. (OEP). The OEP begins when you reach the age of 65 and your Medicare Part B coverage begins. Medicare beneficiaries 65 and older can purchase a Medigap policy at any time, but they may be subject to health screening and medical underwriting. There are some benefits to purchasing a Medigap policy during the open enrollment period. During OEP, both healthy and sick people will pay the same price for Plan G from the same company.
Depending on where you live, if you are under the age of 65 and have Medicare, you may be able to apply for a Medicare Supplement plan. In some states, Medigap insurance companies are required to sell Medigap plans to Medicare enrollees under the age of 65. Each state has its own set of rules for health screening, rates, and Open Enrollment for Medicare enrollees under the age of 65. For example, in some states, Open Enrollment is still open for Medicare beneficiaries under the age of 65, which means you can start a new Medigap plan on the first day of the following month. Specific guidelines should be obtained from your state’s insurance department.
After open enrollment
If you sign up outside of the OEP, you may be subject to medical underwriting in most states. This means that if you have preexisting health conditions, you may have to pay a higher premium. Your application may even be rejected. Only four states (Connecticut, Massachusetts, Maine, and New York) require health insurance companies to offer Medigap policies to those who qualify, regardless of preexisting conditions.
How much does Medicare Plan G cost?
According to Medicare.gov, Medicare Plan G will cost between $120 and $364 per month in 2021. Medigap Plan G is a more comprehensive plan with more coverage, so it costs more than Plan K, which is a less expensive plan with less coverage. Because each insurance company has a different pricing method for plans, you’ll see a wide range of prices for Medicare supplement policies. Furthermore, the cost of Plan G is determined by your location, current health, age, and gender. As a result, it is critical to compare rates among different Medicare providers to obtain the best Medicare rate possible.
Different ways in Medicare supplement plan g is priced
There are three different ways in which Medigap policies can be priced:
The simplest rating system is community-rated, which means the same monthly premium is charged to everyone who has the same Medigap policy. This means your premium will not be based on your age but could go up because of inflation.
Issue-age-rated has a premium structure in which your monthly premium is based on the age you are when you buy the Medicare Supplement plan. In this case, premiums will be lower for people who buy at a younger age. For example, if you bought a Medigap policy at age 65, your premium could be $200, but if you bought the same plan at 80, that policy might cost $300.
The final pricing structure is attained-age-rated, in which the monthly premium is based on your current age every year. In other words, your premium will renew every year and increase as you continue to get older. For example, you may have started paying $150 per month for your Medigap policy at age 65, but by the time you are 75, you could be paying $175 per month.
As you can see, differences in pricing structure can vastly change the amount you will pay for Medigap coverage during your lifetime. When pricing is based on attained age, costs will be lower at age 65 and will increase steadily over time. Those who have community-rated plans will see higher rates at age 65, but the cost increases won’t be as severe.
Medicare Supplement Plan G providers
Many senior citizens choose Medicare supplement plan G insurance because of its comprehensive coverage and low cost. However, the process of selecting the right insurance provider can be daunting; for this reason, we’ve created this guide for you. We’ve gathered the best Medicare plan G providers and compared them to give you the most comprehensive picture of your potential coverage as you move through the Medicare process. Each plan covers at least 40 states and has been thoroughly reviewed in terms of price, ease of use, educational information, and other factors.
Humana offers a slew of extra benefits to Medicare Plan G enrollees, whether they choose the regular or high-deductible option. Premiums for the standard plan vary depending on location and benefits. While the high-deductible plan is less expensive, you must first pay your deductible before you can receive benefits. SilverSneakers is a wellness plan that offers discounts on vision and prescriptions as well as a 24-hour nurse hotline.
- Covers Medicare Plan A & Plan B coinsurance and skilled nursing facility care coinsurance
- An easy-to-use website with clearly explained information
- Many extra benefits such as the wellness program
- Doesn’t cover Medicare Part B deductible
- Some extra benefits may not be necessary for everyone (e.g., vision and hearing care discounts).
Many providers in your state offer Medicare supplement insurance, but a Humana policy includes benefits that other providers do not, such as a 24-hour nurse phone line, the SilverSneakers wellness program, and even access to Humana Transplant Centers, which helps you navigate the complex world of transplant care and make informed decisions.
It also has a personalized savings program for eye exams and a wellness rewards program called Go365 that rewards you for doing healthy things like getting a flu shot or attending a workout class.
If you want a more personalized experience and concierge-like service throughout your Medicare Supplement program experience, Humana is worth considering.
AARP provides the most convenient way to compare prices. Simply enter your ZIP code and you’ll be taken to a page where you can view all of the plans that are available to you. You can view Medicare Advantage or Supplemental Medicare plans like Plan G or Part D without having to re-enter your information every time.
To see a list of available Supplemental Plans, enter additional information such as your date of birth, the effective dates of Medicare Plans A and B, and the date you want your Supplemental Medicare Plan to begin.
- Information collected in one place, without being overwhelming
- Easy-to-navigate website
- Offers rates for various locations
- Difficult to get customer service on the phone
- No added benefits
AARP breaks down each different area of Medicare, allowing you to select precisely the coverage you want. AARP itself is not an insurance company, but it is a great resource and offers its plans through insurance giant UnitedHealthcare.
Pricing can be difficult to estimate because everyone’s situation is different, and costs may differ from state to state. When compared to other providers, Aetna has competitive pricing. There is a standard option and a high-deductible option, as with other plans, and your monthly premium will be affected by your choice.
- All-inclusive premiums
- Plans are easy to compare
- Only requires basic personal information to be entered once
- Household discount available
- Limited educational information available on the page
- No way to select and purchase a plan directly from the comparison page; a phone call is required
- No extra benefits
While quotes are available online after entering personal information into the rate calculator, such as gender, ZIP code, date of birth, and plan start date, there is no option to continue the process from there. To proceed with the coverage process, you must first create an account or contact a representative.
Aside from the household discount, there are no additional benefits with this plan. It only fills the gaps in Medicare Part A and B coverage left by the federal government (20 percent of the remainder of Medicare-approved costs). If you require additional discounts or assistance, it may be worth it to pay a little more to ensure that you have the coverage you require.
Cigna’s Medicare Supplemental Plan G options each have their page that goes into great detail about the coverage. To obtain a quote, enter your ZIP code and other personal information.
- A smooth, clean website with a lot of educational information about the plan options
- Offers a Health Information Line staffed by nurses 24 hours a day
- Educational information about Plan G and Medicare is available on the website
- A household discount may be available.
- No quotes or comparisons without entering personal contact information
- No other extra benefits
- Household discount not available in four states and is only available to spouses for residents in the state of Washington
Cigna provides a wealth of information to Advantagespective customers, including extensive detail and background information on each of its plans and the coverage available with each benefit. While this allows you to compare coverage, Cigna does not allow you to get a free quote without entering personal information such as your age, gender, the start date of Plans A and B, and your current insurance situation. You must also provide your email address and phone number so that Cigna can contact you about your plan options.
If you’re reasonably certain that Cigna is one of your final options, this is a reasonable request because most providers require that information at some point during the enrollment process.
Mutual of Omaha
The application process for Mutual of Omaha couldn’t be easier. The front page describes each Medicare Supplemental Plan that is available, and it never leaves that page during the comparison process.
- Easy, clean website with reviews available on the same page
- Simple comparison process that only requires gender, date of birth, and ZIP code
- Household discount available
- Moderate prices
- No high-deductible plans offered
- Multi-step process to pay online
- Limited extra benefits other than the household discount
Mutual of Omaha takes pride in its simplicity. It provides an easy-to-read chart for Medicare Supplement Plan G services. It also allows you to create an account or apply as a guest, making comparisons faster. To obtain an accurate estimate, you must provide information from your Medicare card, social security number, and medications when applying for either type of account. You can also save your application and return it later, but you must first create an account.
Medicare Supplement Plan G providers of 2022
- Best in Extra Benefits: Humana
- Best for Comparison Shopping: AARP
- Best in Pricing: Aetna
- Best Detailed Plan Descriptions: Cigna
- Best for Easy Application: Mutual of Omaha
How to shop and compare Medicare Supplement Plan G
Step 1: Determine if you are eligible to enroll in Medicare
Enrollment in Medicare begins three months before you turn 65 and continues for three months after unless you are eligible earlier due to disability. If you already have a Medicare Advantage Plan, you can switch plans during the Open Enrollment Period, which runs from January 1 to March 31.
Otherwise, you can enroll during Open Enrollment, which takes place each year from October 15 to December 7. After that, you won’t be able to enroll and will only be able to change the coverage you’re already enrolled in. Beginning in January, there will be coverage changes. When providing you with estimates, every provider we look at performs an eligibility check to determine whether or not you are eligible to enroll.
Step 2: Decide if you want to enroll in Medicare Parts A and B, or a Medicare Advantage plan
Before you can enroll in a Medicare Supplement Plan, you must be enrolled in both Medicare Part A and Part B. You cannot enroll in a Supplement Plan if you choose to enroll in a Medicare Advantage Plan.
Step 3: Find out what Medicare Supplement Plan G plans are available in your area
Not every Supplement plan is available from every provider, and not every provider has plans available in every location. When preparing your personalized estimate, most Supplemental Medical Insurance providers will ask for your ZIP code, which will tell you right away if the provider covers your area.
Just because a plan is available in your state does not mean it is available in your county, so enter your ZIP code correctly to see the plans available in your county.
Step 4: Determine if you would like a regular or a high-deductible Plan G
A high-deductible Plan G, as you might expect, has a higher out-of-pocket payment than a regular Plan G, but lower monthly premiums. It’s critical to do your research; the trade-off is that with a high-deductible Plan G, you may have to pay an additional amount ($2,490 in 2022) before receiving benefits. You must decide which option is best for your budget and whether paying a higher monthly premium is worth it to you to avoid paying out-of-pocket expenses throughout the year.
Step 5: Check Plan pricing and coverage
Cost is frequently a deciding factor in many purchases. Different providers may charge different prices for the same service, and some may go above and beyond the bare minimum required by law.
All Medicare Supplement Plan G coverage is required by the federal government. All plans will cover the same essentials, such as nursing home care, extended hospital care, blood transfusions, and so on. Some providers may offer more, but the cost of those plans may be higher.
Step 6: Get an expert opinion
A good insurance broker or consultant can be a great asset. They may have greater access and knowledge than the average person, and they may be able to negotiate better prices or, at the very least, provide additional guidance throughout the insurance-buying process. Furthermore, using a broker or consultant does not increase your costs because they are compensated by the insurance companies. Furthermore, an insurance broker must follow strict government guidelines to ensure that the process is simple and fair for you, the customer.
Step 7: Sign up for coverage
Once you’ve decided which Supplement Plan G is best for you, you can enroll directly with the insurance company, usually online or by phone. Remember that during Medicare Open Enrollment, anyone who meets the eligibility requirements can enroll in Medicare and choose any supplemental insurance they require.
What is the difference between Plan F and Plan G for Medicare Supplement Plans?
There are some distinctions between Plans F and G. Plan F covers the Plan B deductible, while Plan G does not; however, Plan F is being phased out as of January 1, 2020. Plan F is now only available to people who were eligible for Medicare before that date. Plan G is a popular replacement because, except for the Plan B deductible coverage, both offer identical benefits.
Can I keep my Plan G if I move to another state or country?
You can keep your plan if you move to another state and your Supplement Plan G is available in your new location. If it is not available in your new location, you may need to switch plans or providers if other companies provide Plan G coverage in your new location. 3 If you move to another country, you can keep your Medicare Plan G coverage, though it will only cover emergency care visits after a $250 deductible. 8
If you intend to return to the United States, it may be worthwhile to keep Medicare Plans A and B, though Plan B may have higher premiums. It depends on how long you intend to be gone and whether you have other insurance options in your new home country.
What Is the difference between Plan G and Plan G with a high deductible?
The deductible amount and coverage timing are the only differences between a regular Plan G plan and a High Deductible Plan G plan. With a standard Supplement Plan G, you’re covered right away and only have to pay the $170 Part B deductible plus your monthly premium. With a high-deductible Plan G, your coverage begins after you pay your $2,490 deductible, which covers all future out-of-pocket expenses. Which one is best for you depends on your situation and whether you require the coverage provided by Plan G immediately or if it makes more sense to pay the lower premiums until the higher deductible is met.
Now that you’ve gone through this article you must be familiar with Medicare Supplement Plan G and its various providers. We gathered some of the best Medicare plan G providers and compared them to give you the most comprehensive picture of your potential coverage as you move through the Medicare process. Each plan covers at least 40 states and has been thoroughly reviewed in terms of price, ease of use, educational information, and other factors. This is to help ensure that you pick a provider which suits all your needs.