When Can I Change My Medicare Supplement Plan?
Everyone keeps asking, “When can I change my Medicare supplement plan?” You know that you should apply
March 5, 2019
Medicare Supplement Plan G
Medicare Supplement Plan G ranks just below in popularity with Medicare Supplement Plan F. It offers all of the same benefits, except for Original Medicare Part B’s deductible. This means the deductible must be paid out-of-pocket. However, the premium payment for Plan G is significantly smaller than Plan F, making it a more cost-effective plan.
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Coverage for Plan G
Medicare Supplement Plan G covers the following benefits:
- Part A deductible
- Coinsurance payments (Medicare Part A) for inpatient hospital care up to an additional year after the Medicare benefits have been used up
- Part B excess charges
- Copayment or coinsurance expenses for Medicare Part B
- First three pints of blood used in a medical procedure
- Skilled nursing facility care coinsurance
- 80% of foreign travel emergency expenses but only up to plan limits
What is not covered by Plan G?
Like the other Medicare Supplement plans, excluding Plans C and F, Medicare Supplement Plan G will not cover Original Medicare Part B’s deductible. The deductible will need to be paid out-of-pocket, and as of 2020, it will be $198.
What is High Deductible Plan G?
High Deductible Plan G is being offered to new Medicare beneficiaries this year, in 2020, and is similar to the High Deductible Plan F. If you enroll in this plan, you will be given a high deductible of $2,340. Once this deductible is met, the benefits you receive from a regular Medicare Supplement Plan G will be offered. Because of the high deductible, the premium payment is expected to be lower than that of a regular Plan G premium, just like it is for the High Deductible Plan F.
In short, you will be paying less each month by paying more upfront.
The benefits you will receive with this plan include:
- Coinsurance payments (Medicare Part A) for inpatient hospital care up to an additional year after the Medicare benefits have been used up
- Hospice care coinsurance expenses or copayments for Part A
- Part B excess charges
- Copayment or coinsurance expenses for Medicare Part B
- Skilled nursing facility care coinsurance
- Foreign travel emergency expenses but only up to plan limits
- First three pints of blood used in a medical procedure
- Durable Medical Equipment (DME)
High Deductible Plan G is eligible for anyone who has become eligible for Medicare on or after January 1, 2020. However, if you were eligible for Medicare before January 1, you will only be eligible for the High Deductible Plan F. High Deductible Plan F offers the same benefits, including the coverage for the Part B deductible.
