Medicare Supplement Plan G Explained
Medicare Supplement Plan G, also known as the “Value Plan” is one of the 12 standardized Medicare Supplement plans available. Aside from plans F and N, Plan G is one of the most common supplement plans.
Plan G has the exact same benefits as Plan F with one exception; it does not cover the Medicare Part B deductible, which is $183 for the year.
Besides that, Plan G covers all other expenses that Medicare does not cover, just like Plan F. The reason Plan G is referred to as the “value plan” is for several reasons:
#1. Often plan G is $30 less per month or more than Plan F. People can often save $400-$700 per year by switching over to Plan G from a Plan F.
#2. Plan G Medicare supplement rate increases are, historically, much less, on average than Plan F.
The Future Of Plan F Is Uncertain
This may result in EVEN higher rate increases for the folks who stay with their Plan F (no younger, healthier people paying premiums).
The government thinks eliminating “first dollar coverage” will keep folks from overusing their coverage and will save Medicare money. Whether or not that will work is unknown, but you can do something to avoid potential high rate increases; switch to a Plan G!
Are There Any Co-pays With Plan G?
NO! There are ZERO co-pays on Plan G. There is, however a “deductible.” This is $183 for 2017 and is associated with doctor visits and outpatient services. For example:
- Judy starts on a Plan G Jan 1st, 2018.
- She goes to the doctor for blood work on Jan 25th
- In February, Judy gets a bill in the mail from her doctor asking her to pay the Part B deductible of $183
- For the rest of the year, Judy will incur ZERO out-of-pocket costs. She has already met her deductible. No matter how many times she visits a doctor or specialist (as long as they take Medicare).
Are “Excess Charges” Covered?
YES! “Part B Excess Charges” are covered at 100% on Plan G. This is often confused when comparing Plan N to Plan G.
Plan N does not cover “excess charges.” To see a full explanation of these charges see our explanation here.
How Do I Switch My Plan To A Plan G?
If you currently have a Plan F, N, Medicare Advantage plan, employer/retirement plan, etc then the process to change to a Plan G is easy:
- Call us at (800) 208-4974 to get a free quote comparison
- We will ask you several questions to ensure you are eligible to change
- If eligible, together we submit an electronic application with a top A-rated carrier for a Plan G
- Once approved, you will enjoy the lower premium and great benefits Plan G offers
Why Get A Plan G From Us?
We understand there are many agents out there ready and eager to sell you a Medicare Supplement plan. What makes us different from the competition is this:
- We are independent and represent ALL the top insurance companies, our goal is to find you the best rate available.
- We work for you, not the insurance company.
- We conduct annual rate reviews with all our clients, to ensure they remain on the best rate possible, year after year. See our “Rate Lookout Program here“
- Whenever you have a question or concern with your plan, or with Medicare in general, we are here to assist you.
- We are licensed in over 40 states, we know the Medicare market, we are experts.
Overall, Plan G is a better value vs a Plan F. Not only do you save money on your premium now, but you will save a substantial amount of money on future rate increases moving forward.
Call us today at (800) 208-4974 for a free quote comparison ow with any questions you may have!
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