Medigap Plan G

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Are you new to Medicare or trying to understand your enrollment options to help supplement your Medicare Part B medical insurance coverage? Then you may need to consider Plan G. But it's essential to know the basics.

What is Medigap/Medicare Supplement Plan G?

Original Medicare (Parts A and B) are limited to covering the hospital-related and medical-related costs. For instance, your Medicare policy may not cover certain copayments, coinsurance, or deductibles. That means there's a significant gap for uncovered costs that require supplemental insurance plans. That's where Medigap/Medicare Supplement Plan G comes in handy. A Medigap plan is an insurance policy sold by private companies to help cover the gap in costs not covered by Original Medicare and includes various parts, including Plan G. A Plan G supplemental insurance policy, is designed to help pay for medical expenses that may not be covered fully or in part by standard Medicare plans, such as a coinsurance or deductible. While this plan can supplement Original Medicare, it's illegal for companies to sell Medigap policies to you if you already have an existing Medicare Advantage (Part C) plan. Instead, you would have to switch back to Medicare Part A and Part B to purchase a Medigap policy like Plan G.

What Does Medigap/Medicare Supplement Plan G Cover?

All Medigap plans need to cover standard costs or core benefits but also come with the perk of covering a percentage of your expenses if you travel out of the country during the first 60 days of your trip for emergency care. You just have to meet a $250 deductible first before your Medigap Plan G policy covers 80 percent of your medically-necessary expenses. In addition to standard core benefits, your Medigap Plan G must include:  

  • Coinsurance. This is the part of your share of Medicare Part B expenses you're expected to pay. All Plan G supplemental plans include a 20-percent coinsurance.

  • First-three pints of blood coverage. If the hospital needs to buy blood for you, the cost for the first three pints that Medicare won't cover is included in all Medigap Plan G insurance policies.

How to Find Medigap/Medicare Plan G Supplemental Insurance

Finding the right Plan G coverage calls for getting strategic about your options. It's typically a good idea to check your references and consider referrals from individuals who have used the company you are considering. But while you can locate and compare providers on an individual basis, this strategy can get time-consuming quickly. Contact us today and we can match you with a policy that works best for you and your needs.