If you are a Medicare beneficiary, you may be aware of the gaps in coverage that Original Medicare (Parts A and B) leaves behind. Fortunately, there is a solution: Medigap, or Medicare Supplement, plans. Medigap Plan G is one of the most popular Medigap plans available, and for good reason.
Coverage of Medigap Plan G
Medigap Plan G covers most of the same benefits as Medigap Plan F, which was the most comprehensive Medigap plan until it was phased out in 2020. Plan G covers the Medicare Part A deductible, Part A and B coinsurance, skilled nursing facility care coinsurance, and more. The only benefit that Plan G does not cover is the Medicare Part B deductible, which is $203 in 2022.
While Plan G may not cover the Part B deductible, it often has a lower monthly premium than Plan F, making it a more affordable option for many Medicare beneficiaries. In addition, the Part B deductible is only an annual cost. While the other benefits are by Plan G can add up quickly over the course of a year.
One important thing to note is that Medigap plans are at a standard, meaning that each plan offers the same benefits, regardless of the insurance company you purchase it from. This means that if you are considering Plan G, you can compare prices from different insurance companies to find the best deal.
The flexibility of Medigap Plan G
Another benefit of this plan is that it offers more flexibility than some other Medigap plans. For example, if you travel outside of the United States, Plan G will cover 80% of the cost of emergency medical care you receive in a foreign country (up to plan limits). This can be especially important for seniors who like to travel.
In addition, it allows you to see any doctor or specialist who accepts Medicare, without needing a referral. This can be important if you have a particular doctor or specialist that you would like to continue seeing.
In conclusion, it is an excellent option for Medicare beneficiaries who want comprehensive coverage without the high monthly premiums of some other plans. With its comprehensive coverage, affordability, and flexibility, it is no wonder that this plan is one of the most popular plans available. If you are considering a plan, be sure to take a close look at G and compare prices from different insurance companies to find the best deal.