Medicare Supplement Plan G – FAQs

Even as Medicare Supplement professionals, sometimes the information that must be reviewed about 10 different plans each year (yes, there are changes from time to time) can be overwhelming.

Medicare Plan G is one of 10 standardized Medicare supplement policies. It fills most of the coverage gaps found in Medicare. For this reason, many seniors choose to enroll in Plan G to provide them with financial support while they are on Medicare. However, Plan G won’t cover the Part B deductible.

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If Medicare Supplements can be a chore for the experts to keep up with, we can only imagine how intense and overwhelming it may be for seniors who are searching for their best Medicare Supplement fit. There must be a sufficient product to reduce or even eliminate out-of-pocket healthcare expenses. And, it must be affordable.

This article contains the most frequently asked questions about Medicare Supplement Plan G.

Since the 10 Medigap plans that are sold in 47 states are standardized (they are the same among each company) Medigap Plan G offered by Company ABC is always the same as Medigap Plan G offered by Company XYZ. With that said, the prices charged by each insurance company will vary.

Can you switch from Plan F to Plan G?

Since the only difference in coverage between Medigap Plan F and Plan G is that Plan F covers the Medicare Part B deductible ($233 for 2022), you may want to consider changing to Medigap Plan G because of the lower monthly premiums. Unless you make the change during your initial open enrollment or qualify for the special open enrollment, you will have to medically qualify for the best rates.

Since Medigap Plan F covers the Medicare Part B deductible for beneficiaries eligible for Medicare before January 1, 2020, it is more expensive than Medigap Plan G. In fact, the premium savings in Plan G could be greater than the Medicare Part B deductible ($233) so you may want to consider Plan G rather than Plan F. Remember, only applicants who became eligible for Original Medicare before January 1, 2020, can purchase or renew Medigap plan G.

Since Medicare Supplement plans only cover the gaps in Original Medicare Part A and Part B, Plan G does not provide coverage for prescription drugs because that coverage is provided by Medicare Part D. If you need prescription drug coverage, you can purchase a Medicare Part D plan or a Medicare Advantage plan that covers prescription drugs.

Since Medicare Supplement Plan G only covers the benefits provided by Original Medicare Parts A and B, there is no coverage for vision services. If you prefer to have this coverage, you can purchase stand-alone vision insurance or a Medicare Advantage Plan which does offer coverage for vision services.

Medigap Plan G does cover the Medicare Part A deductible but not the Part D deductible. CMS implemented a rule that no Medicare Supplement Plan offered after January 1, 2020, can include coverage for the Medicare Part B deductible ($233 in 2022).

Medicare Supplement plan G is guaranteed issue only during the 6-month period that begins the first day of the month you will turn 65 or older and enrolled in Medicare Part B however, some states have additional enrollment periods that are guaranteed issue. Be sure and confirm the rules in your state.

The worth of Medigap Plan G depends on why you might purchase or have already purchased the plan. If you are looking to reduce the out-of-pocket healthcare expenses because of the coverage gaps in Medicare Part A and Part B, then Plan G will absolutely be worth the cost of the plan.

Your monthly premium for Medigap Plan G will depend on your geographic area and which rating method the insurer uses. There are also other factors that might impact your cost for coverage however, the average premium for Medigap Plan G is $143.46 per month. Remember, you must also keep paying your Medicare Part B premium as well.

Although Medigap Plan G will pay 100% of the Medicare Part A and Part B gaps in coverage, it does not cover the Medicare Part B deductible (only Plan F covers this deductible) and the plan has a coverage limit of 80% (like most other plans) for foreign travel medical emergencies.

Only one deductible applies to Medigap Plan G which is the Medicare Part B deductible ($233 in 2022).

The Medicare Part B deductible increases over the last 5 years are as follows:

• 2018: $183
• 2019: $185
• 2020: $198
• 2021: $203
• 2022: $233

The Part B deductible increase of $30 in 2022, is the most significant increase since 2005.

Medigap Plan G does not contain an out-of-pocket maximum. Currently, only plan K and Plan L have an out-of-pocket limit which is $6,620 and $3,310 respectively.

Currently, the only difference between Medigap Plan D and Medigap Plan G is that Plan D does not cover Medicare Part B excess charges whereas Medigap Plan G does (100%).

Absolutely, the chart below is an up-to-date listing of the 10 standardized Medigap plans.

The Bottom Line

As we mentioned earlier in this article, shopping for a Medicare Supplement plan that is the best fit for your circumstances and budget. Certainly, not all, but many of these FAQs can help you make an informed decision when purchasing Medicare Supplement insurance.

The good news is that you can easily contact the Medicare Solution Team which consists of Medicare experts who can provide the information you need no matter which state or zip code you live in. And, we provide quote comparisons quickly by using our online quote form or over the telephone during our conversation with you.