Medicare has a number different parts designed to help seniors get the coverage they want.
For some seniors, the basic Medicare plan won’t cover them well enough.
That Medicare plan contains parts A and B, covering many inpatient and outpatient expenses, like nursing care, hospital stays, medications and doctor’s office visits.
But what do other parts of Medicare cover?
You might have heard about Medicare Part G, which we will discuss in detail for you here.
This is actually a part of Medicare known as Medicare Plan G.
The Part G name is simply a common misconception.
So many seniors hear about Plan G and the different parts of Medicare that they can sometimes get them confused with one another.
Plan G is a great health insurance plan, and it is one of the different options for Medicare Supplements, or the Medigap plans.
These are complementary health insurance plans that are made to work with the Original Medicare plan and fill in its coverage gaps.
Plan G is so popular because it fills in more gaps than any of the other Medicare Supplements.
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Medicare Plan G
Each of the Supplement plans has its own set of coverage, decided upon by Medicare.
This plans are sold by private insurance companies, but the insurers have to abide by the coverage rules that Medicare has set in place.
So, that means that no matter which insurance provider you get Plan G from, you always get the same coverage.
The price could even change, and it changes from one state to another and from one insurance provider to another.
However, the coverage remains the same, and that can be very helpful for seniors to know as they try to compare the plans and then try to find good price on Plan G.
Let’s talk about Medicare Plan G and what kind of medical benefits it can provide for you.
It covers you for all of the following medical expenses and services:
- Medicare hospice coinsurance- Providing coverage for hospice care that isn’t covered already by the basic Medicare plan
- Medicare Part A copayments- Helping you pay for hospital stays and minimizing your out-of-pocket costs for common medical care
- Medicare Part A deductible- This annual expense is $1,408, and Plan G can cover it completely for you. This is one of the major medical benefits of the powerful Supplement Plan G
- Medicare Part B copayments- Covering you for doctor’s visits, ER visits and more and reducing some of the more common out-of-pocket expenses
- Medicare Part B excess charges- If you ever have to go to a medical doctor who does not fully accept Medicare, then you will be glad that you have this medical benefit, as it takes care of your costs where the Original Medicare plan would ask you to pay for them yourself
- Nursing care coinsurance- Covering additional nursing costs that aren’t covered by the Original Medicare plan
- Foreign travel exchange- Medicare Plan G covers you for up to 80% every time you need to be transported out of the country for a medical emergency, with up to $50,000 in lifetime coverage
- Blood usage- Original Medicare may take care of most of your blood usage costs, but Plan G covers the first three each year for you.
This is some pretty comprehensive coverage, and most seniors will be well covered with Plan G backing them up.
They might not have to pay much of anything out of their own pockets every time they visit the hospital, doctor’s office, clinic or other healthcare facility.
Medicare Plan G Reviews - Plan G vs Plan N
Medicare plan G is not the only high coverage Medicare Supplement available.
Another one that a lot of seniors are going for is Plan N.
This Supplement plan is offering some similar high coverage, and it might even be more economical than Plan G.
Under Medicare Supplement Plan N’s coverage, you can enjoy medical benefits like Medicare Part A and B copayments, Medicare Part A’s annual deductible, Medicare Part A hospice coinsurance, nursing care coinsurance, blood use, and foreign travel exchange.
Now, Plan N will not cover all Medicare Part B copayments.
It requires you to pay some of the smaller ones, and these are only $20 and $50 for your visits to the ER and to the doctor.
Plan N covers most of the supplemental expenses, and the reason we say it is so economical is because it is often quite a bit cheaper than Plan G, but the coverage is nearly identical.
What it does not cover for you tends to be medical expenses that are simply uncommon or not very expensive.
You’ll want to compare Plan N closely to Plan G and make sure you are making the right choice.
A lot of seniors save money with Plan N, even though Supplement Plan G is the more popular choice.
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Medicare Plan F vs Plan G
You may want to look at Supplement Plan F as well.
This will cover you for all supplemental expenses, making it a full coverage Supplement.
No other Medigap plan can offer what it does, and it used to be the most popular Supplement plan on the market.
It’s no longer on the market for most people, however.
A few years ago, Medicare Supplement Plan F was delisted.
Insurance companies were simply charging too much for it and not valuing it properly.
The high prices caused the US government to take action, stepping in and legislating Plan F to be delisted.
Now, the only way you can even access Plan F is if you have it as your current health insurance plan.
If you were enrolled in Plan F at the moment that it was delisted, you could continue to stay enrolled in it year after year.
No one else can access it, though.
Plan F is offering coverage for Medicare Part B’s annual deductible of $198.
That’s not a substantial medical benefit, by any means, but it is one that none of the other Supplement plans are offering.
Medicare Part G, or Plan G, does not cover that for you, but it doesn’t have to in order to save you money.