When it comes to Medigap insurance, some plans are chosen more often than others by Medicare beneficiaries. For years, Plan F was the most popular choice for retirees, as it covers all of the coverage gaps associated with Medicare. This plan, however, will be phased out for new enrollees beginning in 2020, making retirees’ decision a little tougher when selecting Medicare Supplement Insurance. Plan G is quickly becoming the most popular plan, and this article will help explain what makes Plan G a smart choice for many seniors.
What does Plan G cover?
We say it a lot at DirectMedSup, but it’s very important to remember that Medicare does not cover everything when you visit a doctor. Traditional Medicare has a variety of costs associated with the program that you will need to pay to receive your benefits. For example, you will need to pay coinsurance, copayments, excess fees, and deductibles when you visit the doctor if you do not have Medicare Supplement Insurance. Plan G covers almost all of these coverage gaps, saving you money on health care in the long run.
By enrolling in Plan G, you will avoid Medicare’s peskiest out-of-pocket costs. You won’t have to worry about paying any copayments, coinsurance, or excess fees during or after a visit to your doctor. These costs will be fully covered by your Medicare Supplement Insurance. Plan G does not cover your Medicare Part B deductible. You will make this one-time payment to Medicare before you receive your benefits, but the cost to you is relatively low. For 2019, the Medicare Part B deductible is $135.50. In many cases, the savings in premium is greater than the cost of this deductible — for the SAME benefit coverage.
How Much Does Plan G Cost?
As is the case with all Medicare Supplement Insurance, Plan G premium costs can vary. Depending on your location, age, and insurance company, your costs may be significantly different than your friend or family member. Regardless, as the price of healthcare continues to rise, enrolling in a Medigap policy is a wise financial decision.
If you want to avoid as many out-of-pocket costs as possible, Plan G (or Plan F, if you are still eligible to enroll) is likely the right plan for you. Even if you can still enroll in Plan F, Plan G may still be the better choice. Even though you are responsible for your Part B deductible with Plan G, you still may save more money over the life of your plan. Shopping around between the various insurance companies is a good idea to find the best rate on the plan you want.
Luckily, DirectMedSup has made the rate comparison process simple. On our site, you can find free quotes in your area for Plan G or any other plans that may interest you. You will answer a few basic questions, and we’ll instantly do the policy shopping for you. Then, we’ll help you enroll in the best policy that fits your specific needs.
Visit the quote finder now or give us a call at 855-593-0069 to learn more about Medicare Supplement Insurance enrollment.