
Medigap Plan G Benefits
Plan G covers nearly everything that F covers:
- Medicare Part A copayments for inpatient hospital care — up to an additional 365 days after Medicare benefits are used up
- Medicare Part B copayment
- First 3 pints of blood
- Part A hospice care copayment
- Medicare Part A deductible
- Skilled nursing facility coinsurance
- Medicare Part B excess charges
- Foreign Travel Emergency — up to plan limits
What Cost Are You Responsible for?
With Plan G, the only thing you’ll have to pay out of pocket is the Medicare Part B deductible. In 2021, this amount is $203.
Plan G Eligibility and Enrollment
There are certain eligibility rules you should know when buying any Medigap plan:
- You must have Original Medicare A and B, and you can’t have Medigap and Medicare Advantage.
- A Medigap policy just covers one person. Your spouse will need to buy a seprate policy.
- Insurers aren’t legally required to sell Medigap plans to those under 65. If you’re under 65 and on Original Medicare, you may not be able to buy the plan you want.
If you’re interested in Plan G, you can first enroll during Medigap Initial Enrollment — a six-month period that begins when you turn 65 and enroll in Medicare Part B. If you don’t sign up during this time, you may not be able to get the plan you want or it might cost more.
How the Companies Charge You
Every Medigap policy has a monthly premium. The exact amount may vary by area, gender, and tobacco status. Insurers can set monthly premiums for their policies in three ways:
- Community rated — Everybody who buys the plan pays the same monthly amount no matter their age.
- Issue-age rated — Monthly premiums are based on the age when you first buy a plan. Younger buyers will have lower premiums, and the premiums don’t go up as you get older.
- Attained-age rated — Monthly premiums are based on your CURRENT age. So, your premium will increase as you get older.
Is Plan G Right for You?
It depends on your situation. Plan G is certainly a popular choice for many people. An agent can help you compare rates for Plan G to that of Medigap Plan F in your area. If Plan G is much cheaper than Plan F, it makes sense to go with G. You’ll need to pay the Part B deductible once per year, but you’ll save money in premiums each year.
Plan N is another policy worth considering because of the great benefits it provides.