For new Medicare beneficiaries, Medicare Supplement Plan G offers the most comprehensive coverage out of all the supplements.
Before, Plan F offered the highest coverage. But because of the Medicare Access and CHIP Reauthorization Act of 2015, those who turn 65 after January 1, 2020 are not allowed to purchase Plan F because it covers Medicare Part B’s deductible.
However, Plan G covers 100% of the copays/coinsurance, deductibles, and excess charges other than Part B’s deductible.
So, this is the supplement with the greatest coverage available.
What is covered under Medicare Supplement Plan G?
Medigap Plan G covers 100% of the costs Medicare expects you to pay for:
- Coinsurance
- Medicare Part A’s deductible
- Hospital costs after you run out of Medicare-covered days
- Skilled nursing facility costs after you run out of Medicare-covered days
- Part B excess charges
- Blood transfusions
It also covers 80% of a foreign travel emergency.
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Most coverage for a Medigap plan under the new law
If you are looking for the highest coverage for a Medicare Supplement but are not eligible for Plan F because you turned 65 in 2020 or later, Plan G is your best bet. The only thing covered under Plan F that is not under Plan G is Medicare Part B’s deductible.
Even those who are eligible for Plan F may find the premium savings wind up making Plan G the better option.
When can I enroll in Medicare Supplement Plan G?
You can enroll in a Medigap plan when your Part B plan becomes effective. Once that happens, you’ll have six months to enroll in a Medicare Supplement with no medical underwriting. This means you’ll be guaranteed acceptance and premiums will not vary based on your health.
After those six months are up you may still be eligible, but your acceptance and premiums will be based on your health.
Want to see what other Medicare Supplements are available?
If you want to see what Medicare Supplement Plan G would cost you or if you are interested in other available plans, give us a call! Remember: Medicare Supplements are standardized. This means the same letter plan provides the same coverage at all insurance carriers. The only difference will be price. So, shopping your policy among all carriers is the only way to get the best deal.
If that sounds time consuming, don’t worry! We do all the shopping for you and it won’t cost you anything. So, give us a call and let us find the best Medicare Supplement plan for you!
