How does Medicare Plan G work?
Medicare Plan G is a supplemental Medigap health insurance plan available to seniors and disabled individuals enrolled in Medicare. Plan G is one of the most comprehensive Medicare supplement plans that are available to purchase.
Medicare Plan G is a supplemental policy, which means it isn’t your primary coverage but fills many of the gaps left by traditional Medicare. The Part A and Part B health benefits would cover your medical expenses. Once those benefits have been exhausted, Plan G covers any remaining costs.
Plan G also covers some of the costs associated with your Medicare policy. For example, Medicare Part A has a deductible of $1,408. If you don’t have Plan G, then you’ll pay that deductible out of pocket. But with Plan G coverage, your health insurer would pay for the entire deductible.
What Does Plan G Cover?
Plan F is considered the premier Medigap plan. Medicare’s gaps are covered to 100% by this plan. Plan G’s coverage is nearly as good with one exception: Plan G does not cover the Part B deductible, which is $226 in 2024. In spite of paying the Part B deductible, many Medicare enrollees find Plan G to be more cost-effective than Plan F.
Plan G covers everything that Medicare Part A and B cover, except for Part B deductible. This means that you won’t pay anything out-of-pocket for covered services and treatments after you pay the deductible.
What Does Plan G cost?
In 2024, the cost of Medicare Plan G will range between $90 and $250 per month. Your exact price for Plan G will be determined by your location, current health, age, and gender. For this reason, it is vital to compare rates among different Medicare providers so you can get your best Medicare rate possible.
What is the deductible for Plan G in 2024?
The only deductible that is involved when you have Plan G is the Part B annual deductible, which is $226 in 2024.
What is the best Medicare supplement plan G for 2024?
Supplement G Plans established themselves as the industry leader in low out-of-pocket costs, covering everything F plans do, except for Part B deductible of $226 in 2024. In order to help you find the best Medicare Supplement Plan G provider, we compared and ranked the top plans based on price, discounts, geographic coverage, user experience, and more.
The 6 Best Medicare Supplement Plan G Providers of 2024
Best Overall Plan: Humana.
Best Pricing: AARP by UnitedHealthcare.
Best Price Transparency: Aetna.
Best Discounts: Blue Cross Blue Shield.
Best User Experience: Cigna.
How To Sign Up For Plan G?
The best time to enroll in Plan G is during the Medigap Open Enrollment Period. This starts when you turn 65 and your Medicare Part B is effective. Medicare enrollees 65 years or older can buy a Medigap at any time but may be subject to health screening and medical underwriting. There are some advantages to buying a Medigap during one’s open enrollment period. During this time, healthy people and those with health conditions will pay the same for Plan G from the same company.
In most states, you will have to submit to medical underwriting if you sign up outside the OEP. You may have to pay a higher premium if you have preexisting health conditions. Your application might even be rejected.