Medicare consists of various Parts, including Part A, B, C, and D. However, it's important to note that the different lettered plans within Medicare Supplement coverage, such as Medicare Plan G, can sometimes lead to confusion and mistaken identification as Medicare Supplement Part G. In reality, it is Plan G that is being referred to, not Part G. It's crucial to understand this distinction to ensure clarity when discussing and selecting the appropriate coverage.
Medicare Plan G: The Preferred Choice for Comprehensive Coverage
Medicare Supplement Plan G (Medigap Plan G) is the most popular choice among our Lehigh Partners clients. The reason is that Medicare Plan G offers excellent coverage and value for beneficiaries who are open to paying a small annual deductible.
Once the deductible is met, Plan G provides comprehensive coverage for all the gaps in Medicare. This includes the Medicare Part A hospital deductible, copays, and coinsurance, as well as the 20% that Medicare Part B does not cover. Moreover, healthcare providers and doctors who accept Original Medicare are also obliged to accept Medigap Plan G.
Additionally, Plan G policies can be utilized across the country without any network limitations, and the premium costs are generally quite reasonable considering the coverage provided.
Medicare Supplement Plan F was previously the most popular and extensive plan, but as of 2020, it is no longer offered to new Medicare beneficiaries, only those eligible prior to January 1, 2020. Thus, Medicare Supplement Plan G has taken over as the most comprehensive option for new beneficiaries.
The only difference between Supplement Plan G and Plan F is that Plan G does not cover the Part B deductible.
Medicare Plan G Benefits
Medicare Part A Coinsurance & Hospital Costs
Medicare Part B Coinsurance or Copayment
Blood (first 3 pints)
Part A Hospice Care Coinsurance or Copayment
Skilled Nursing Facility coinsurance
Medicare Part A Deductible
Medicare Part B Deductible
Medicare Part B Excess Charges
Foreign Travel Emergency
Plan G Coverage
What Medical Services Does Plan G Cover?
Medicare Supplement Plan G covers all the medical benefits that Original Medicare covers, except for the outpatient deductible. This means that it helps to pay for inpatient hospital costs such as the first three pints of blood, skilled nursing facility care, and hospice care. It also covers the costs of various outpatient medical services such as doctor visits, lab work, diabetes supplies, cancer treatment, durable medical equipment, X-rays, ambulance services, surgeries, and much more. Thus, Plan G effectively covers the gaps in Original Medicare, and all Plan G products must offer the same coverage.
After Medicare pays the primary share, Plan G covers the remaining amount after you meet the once-a-year deductible. Additionally, Plan G Medicare supplements offer up to $50,000 in foreign travel emergency benefits (up to plan limits).
Two Plan G Options
Medigap Plan G vs. High Deductible Plan G
Plan G offers two options: "regular" Plan G and High Deductible Plan G. Both plans provide the same benefits, but there is a difference in how the deductibles work.
In regular Plan G, the only deductible you pay is the Part B deductible. On the other hand, with High Deductible Plan G, you are required to first meet the plan's deductible before it starts covering your costs. In 2024, the deductible for High Deductible Plan G is $2,800.
Why Would Someone Choose Plan G?
Medicare Supplement Plan G is a popular choice among Medicare beneficiaries for several reasons. Here are some key reasons why someone might choose Medicare Supplement Plan G:
- Comprehensive Coverage: Medicare Supplement Plan G provides extensive coverage for medical costs that are not covered by Original Medicare. It covers the Medicare Part A coinsurance and hospital costs, Part B coinsurance or copayments, Part A hospice care coinsurance or copayments, skilled nursing facility care coinsurance, and more.
- Full Coverage After Part B Deductible: Once you meet the Medicare Part B deductible, Medicare Supplement Plan G covers all remaining Medicare-related costs, which can help protect you from significant out-of-pocket expenses.
- Freedom to Choose Providers: With Medicare Supplement Plan G, you can visit any healthcare provider who accepts Medicare. There are no network restrictions, giving you the freedom to choose your preferred doctors and specialists1.
- Predictable Expenses: Medicare Supplement Plan G can help provide more predictable healthcare expenses by limiting your out-of-pocket costs. Since Plan G covers most Medicare costs, you can better anticipate and budget for your healthcare expenses.
- Coverage While Traveling: Medicare Supplement Plan G offers coverage for emergency medical services when you travel outside of the United States. This can provide peace of mind knowing that you have coverage in case of unexpected medical needs during your travels.
Why would someone choose High Deductible Plan G?
There are a few reasons why someone might choose High Deductible Plan G for their health insurance coverage. Here are some possible reasons:
- Lower Premiums: High Deductible Plan G usually has lower monthly premiums compared to regular Plan G. This can make it a more affordable option, particularly for individuals who are in good health and do not require frequent medical care.
- Flexibility: High Deductible Plan G offers the same coverage as regular Plan G, but with the added benefit of a higher deductible. This can be advantageous for those who prefer to have more control over their healthcare spending. With a high deductible, individuals may have more freedom to choose when and how to use their healthcare services, allowing them to tailor their healthcare expenses according to their needs and budget.
- Tax Advantages: High Deductible Plan G is considered a High Deductible Health Plan (HDHP), making it eligible for pairing with a Health Savings Account (HSA). Contributions to an HSA are tax-deductible, and the funds can be used to pay for qualified medical expenses tax-free. This combination of a high-deductible plan and an HSA can provide tax advantages and potential long-term savings for individuals who expect to have lower healthcare costs.
- Guaranteed Renewability: Like other Medigap plans, High Deductible Plan G is guaranteed renewable. This means that the plan cannot be canceled as long as the premiums are paid on time, regardless of changes in the individual's health condition. This can provide peace of mind, ensuring that individuals will have continuous coverage without the fear of losing their plan.
It is important to note that choosing the right plan depends on individual preferences, budget, and healthcare needs. It is recommended to review and compare different plan options, considering factors such as expected medical expenses, deductible limits, and overall cost, to make an informed decision.
Please be advised that while this information is comprehensive, it is always advisable to consult with a licensed insurance agent or a Medicare representative to fully understand benefits available.
How to Buy or Apply for Medicare Part G - Plan G
To buy or apply for Medicare Part G with Lehigh Partners Senior Benefits, follow these steps:
- Research and Compare Plans: Start by doing some research on Medicare Part G plans and familiarize yourself with the coverage and benefits offered. Compare different insurance providers to ensure they offer the specific plan you're interested in. One of our agents can help you with this.
- Contact Lehigh Partners Senior Benefits: Reach out to Lehigh Partners Senior Benefits to inquire about their Medicare Part G plans and to obtain more information. You can contact them through their website, phone, or by visiting their office in person.
- Schedule an Appointment: If you are interested in enrolling in a Medicare Part G plan through Lehigh Partners Senior Benefits, schedule an appointment with one of their licensed insurance agents. This will allow you to discuss your healthcare needs, ask any questions, and receive personalized guidance on the plan options available to you.
- Provide Personal Information: During the appointment, be prepared to provide personal information such as your name, date of birth, Social Security number, and Medicare ID number. This information will be used to complete your application.
- Application Process: Lehigh Partners Senior Benefits will guide you through the application process for Medicare Part G. They will help you complete the necessary paperwork and ensure all required information is included. Simply call 833-265-9655 over the telephone to easily complete this task.
- Review and Sign Documents: Carefully review all documents related to the Medicare Part G plan before signing. Make sure you understand the terms, conditions, and costs associated with the plan.
- Submit the Application: Once you have reviewed and signed the necessary documents, Lehigh Partners Senior Benefits will submit your application to the insurance company offering Medicare Part G plans. They will assist you in ensuring that the application is completed accurately and submitted promptly.
- Wait for Confirmation: After submitting the application, you will need to wait for confirmation from the insurance company regarding the acceptance of your enrollment. This process usually takes a few weeks.
At Lehigh Partners Senior Benefits, we understand that finding the right coverage for your healthcare needs is a personal and important decision. That's why we take a personalized approach to help you navigate through the myriad of Medicare options and find the coverage that suits you best.
With our dedicated team of licensed insurance agents, we take the time to listen to your specific healthcare requirements, answer your questions, and provide expert guidance tailored to your unique situation. Our goal is to ensure that you have a comprehensive understanding of the Medicare Part G plans we offer and to help you make an informed decision that gives you the peace of mind you deserve.
With Lehigh Partners Senior Benefits, you can trust that we will be there for you every step of the way, providing the support and assistance you need to navigate the Medicare landscape with confidence.