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What is Medigap Plan G?

Although Original Medicare (Medicare Part A and Part B) pays for a number of health care expenses, there are also many “gaps” in this program’s coverage. Medicare Supplement insurance – often referred to as Medigap – can help in paying for some of these unpaid expenses, such as deductibles, copayments, and coinsurance.

In addition, there are some Medicare Supplement insurance policies that will also provide benefits that Medicare Parts A and B don’t cover, such as medical care when a person is outside of the United States.medicare supplemental insurance plan g

How Medicare Supplement Works

Medicare Supplement insurance plans are sold through private insurers that are approved by Medicare. If a Medicare enrollee purchases a Medicare Supplement insurance plan, Medicare will pay its share of the Medicare approved amount on covered expenses. After that, the Medicare Supplement policy will pay its share.

In order to be eligible to purchase Medicare Supplement insurance, a person must have Medicare Part A and Medicare Part B. If you are enrolled in Medicare Advantage (Medicare C), you are not eligible for Medicare Supplement coverage.

When enrolled in Medicare Supplement, you will be required to pay the insurance company the premium for the Medicare Supplement insurance coverage, as well as paying the Medicare Part B premium.

There are ten Medicare Supplement insurance plans, each represented by a letter of the alphabet. All of these standardized Medicare Supplement insurance policies are guaranteed renewable – even if the insured has an adverse health condition. This means that, as long as the premium is being paid, the insurance company cannot cancel the policy.

What Benefits Are Included in Medicare Supplement Plan G?

Each of the standardized Medicare Supplement plans must provide at least the core benefits that are offered in Plan A. The benefits that are included in Medicare Supplement Plan G include the following:

  • Medicare Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up
  • Medicare Part B coinsurance or copayment
  • The first three pints of blood
  • Medicare Part A coinsurance or copayment
  • Skilled nursing facility care coinsurance
  • Medicare Part A deductible
  • Medicare Part B excess charges
  • Foreign travel exchange (up to plan limits)

Medigap Plan G does not offer prescription drug benefits. Those who wish to have this coverage should apply for a Medicare Part D stand-alone prescription drug plan.

Who Can Purchase a Medicare Supplement Plan G Insurance Policy?

In order to purchase a Medicare Supplement Plan G policy, a person must have both Medicare Part A and B (Original Medicare) coverage. If you are enrolled in a Medicare Advantage plan (Medicare Part C), you will not be eligible to buy Medicare Supplement insurance as you will not need these additional benefits.

If you are eligible to purchase a Medicare Plan G, it is important to do so during your Medicare Supplement open enrollment period. This is the time that starts when you are age 65 and are initially enrolled into Medicare Part B coverage.

During your Medicare Supplement open enrollment period, you will be able to purchase a Medicare Supplement plan and not be turned down – regardless of whether you have an adverse health condition.

In addition, even if you do have adverse health issues, the insurance company that is offering the Medicare Supplement insurance policy cannot charge you a higher premium amount due to your health.

If, however, you wait until your Medicare Supplement open enrollment period has expired to apply for coverage, the insurance company will be able to use medical underwriting in order to determine your eligibility for coverage.

When this happens, you can be turned down for health purposes. You could also be approved for coverage, but be charged a higher rate of premium. Therefore, it makes sense to apply for any of the Medicare Supplement plansĀ  during your open enrollment time period.

How to Purchase a Medicare Supplement Plan

In order to purchase a Medicare Supplement policy, it will be necessary to determine which plans are offered in your particular geographic area. It is also recommended that you obtain quotes from several different insurers. This is because, even though all of the Medicare Supplement Plan G benefits are identical from one insurer to another, the premium amounts can vary substantially.

We work with many of the top rated Medicare Supplement companies in the marketplace, and we can assist you with obtaining and comparing Medicare Supplement Plan G quotes. Simply use the form on this page to get the process started.

Should you have any additional questions or concerns regarding Plan G, how to compare Medigap quotes, or even regarding Medicare Supplement in general, please feel free to contact us directly, toll-free, at 800-376-0827 and we’ll be happy to help.