One of the highest coverage supplemental insurance plans is Medicare Supplement Plan G 2020. This one will cover you for the majority of out-of-pocket costs and leave you with very little to pay on your own, in most cases. We highly recommend Plan G to any senior who is having trouble paying their medical expenses even after Original Medicare provides its coverage.
Let’s talk about what Plan G will cover for you, how you can get it and what it might cost you.
Plan G’s Medicare Coverage
If you were to get Supplement Plan G in 2020, then your coverage would be quite high. It would offer you nearly full supplemental coverage. That means that you would be covered for most medical expenses that fall into the supplemental category. Here is what you get with a Medicare Plan G policy:
Medicare Part B preventive service coinsurance
Medicare Part A hospice coinsurance
Medicare Part B excess charges for treatment provided at facilities that do not accept Medicare fully
Medicare Part A copayment coverage for inpatient care
Medicare Part A annual deductible
Skilled nursing care coinsurance
Up to three pints of blood used in medical procedures
Emergency medical care for foreign travel with limited coverage
This is all of the supplemental coverage except for the $185 Medicare Part B deductible. That means that there should be very little you are left to pay for out of your own pockets from the common medical expenses.
Do you need all of this coverage? That really depends on what kind of coverage you currently have and what condition your health is in. You may only visit the hospital every once in a while, and you may be in pretty good health. In those kinds of cases, you may want to seek out a lower coverage plan, and there are a number of those available.
How Much Will You Pay for Plan G?
Medicare Supplement Plan G is going to cost you on average $290 per month. This is the premium and it will vary from one provider to the next. Each provider has their own rates set for this plan, and those rates will be subject to change. You can see where their rates are at when you use our site and search for Plan G here. You can see not just the cost of one Plan G, but how much many different insurance providers are charging for that same plan. The coverage is guaranteed on each Supplement plan, so you always get the same coverage regardless of the price.
With Plan G, you are getting the full coverage of the plan for that single monthly premium. You can be covered fully by this plan no matter where you go. The price of the plan does not change while you are signed up for it. Each plan term is for a full year, so once you sign up for Plan G and you are approved, then you will receive coverage for 12 months and not have to worry about changing rates or coverage in that time.
Once the term is over, though, then you will need to determine if you want to renew your coverage or not. Keep that in mind with any Medicare Supplement Plan G 2020 policy. The rates you pay this year are probably going to increase by next year, and you can use our site to see where they are now and then to check next year for the new price. This way, you can determine if you want to keep the same plan and the same provider or choose something else that perhaps covers you better or fits your budget better.
How to Get Medicare Supplement Plan G
If you would like to sign up for this plan, then you need to go through a private insurance company. You can choose from insurance companies like Mutual of Omaha, Cigna, Aetna, AARP, Blue Cross Blue Shield and others to get supplemental coverage. These all have their own rates, and they may not all sell Plan G.
You will need to have a valid and active Medicare Part B policy in order for your Plan G to be valid. You can still sign up for Plan G without Part B, but you won’t get any coverage from it that point. In order to qualify for both of these kinds of insurance plans, you will need to be at least 65 years old and be a US citizen. However, there are exceptions to these two requirements. For instance, people who have been approved for disability will be able to sign up early for Medicare plans like Supplement Plan G and Part B. Also, if you are a resident of the United States and have been for at least five consecutive years, then you can also qualify for Medicare plans.
Plan G is not compatible with certain kinds of medical coverage plans. If you have a coverage plan from your employer or from your union, then those will probably overlap with Plan G and will not be compatible. If you have a Medicare Advantage plan, then you need to choose between either the Advantage plan or Supplement Plan G. No Supplement plan is compatible with any Advantage plan.
If you have Original Medicare or a Medicare Part D plan, then you can have a Supplement plan in addition to those. That is because they do not have any intersecting coverage at all.
Medicare Supplement Plan G 2020 is considered to be one of the more economic choices for supplemental coverage. If you look at the rates, you will see that it is often priced competitively, and yet it offers a lot of coverage compared to the other Supplement plans. If you have this coverage plan and an Original Medicare plan, then you probably won’t have much to pay for on your own when it comes to medical expenses. Consider this insurance plan if you are in need of some additional healthcare coverage.
Compare 2020 Medicare Advantage Plans