If you’re over 65 and enrolled in Original Medicare, you may be considering purchasing a Medicare Supplement Plan G. This plan can help reduce the out-of-pocket costs associated with Original Medicare but it pays to understand the ins and outs of this plan before making your decision. Read on for a complete overview of how to choose the right Medicare Supplement Plan G for you.
What Does a Plan G Cover?
Medicare Supplement Plan G covers most medical expenses not covered by Original Medicare such as copayments, coinsurance, deductibles, and excess charges. This includes Part A hospital care, Part B doctor visits, skilled nursing facility care, various medical tests and treatments (like chemotherapy or dialysis), some preventive services like flu shots, ambulance services, blood transfusions, and hospice care. It also covers some foreign travel emergency services outside the United States.
Cost Considerations
One of the most important factors when it comes to choosing any health insurance is cost. The cost of a Medicare Supplement Plan G varies depending on where you live and which insurance company you purchase it from. Typically premiums are lower if you buy through an employer; however premiums can be higher if you have certain pre-existing medical conditions or are older than most people buying coverage in your area. Additionally, there are no annual deductibles with this plan so you pay only your monthly premium until you begin using your benefits. But keep in mind that while Plan G covers almost all expenses not covered by Original Medicare other than the Part B deductible (which is $203 in 2020), the monthly premiums can still add up over time so it’s important to find an affordable option that meets your needs.
Factors to Consider When Shopping Around
When shopping around for a good Medigap policy with an insurance company make sure they do not change their coverage or rates often – otherwise they may raise rates anytime they want which could cause financial hardship if something changes with your health down the road. Also look for companies that offer discounts for signing up early or staying with them for multiple years – these discounts can really add up over time! Finally be sure to check out customer reviews online – there are many websites dedicated specifically to helping seniors compare different plans offered by different providers so make sure you do some research before committing to anything!
Conclusion: Choosing the right Medicare Supplement Plan G isn’t always easy but understanding what this plan does cover as well as its associated costs will help ensure that you make an informed decision about purchasing one for yourself or for someone else close to you. Be sure to shop around for different providers who offer competitive prices and look into potential discounts available such as those offered by employers or loyalty programs. Lastly don’t forget to read customer reviews online – these can provide valuable insight into what kind of experience other customers have had with a particular provider making it easier for you decide who best meets your individual needs!
