What does Plan G must offer you that your current medical coverage doesn’t do? It may be worth your time to look at the Medicare Supplement Plan G 2018 and see what it covers and how that compares to what you need.
If you already have a Medicare supplement plan, it can still be worthwhile to look at Plan G. it has risen to prominence as the most popular Medicare supplement plan there. That wasn’t always the case, but lots of people are starting to realize how economical it is. Those who are looking for a high-coverage plan can do so much better (most of the time) with Plan G than they can with Plan F, which was the previous favorite. If you want to save money and you need a lot of coverage, then Plan G is usually the way to go.
What It Can Cover for You
Before you go and sign up for Plan G just on the merits of it being popular and cost-effective for most people, you should stop and look at what exactly it covers. It is going to take care of lots of the common medical expenses. The most common ones it covers include the Medicare Part A deductible. It also takes care of your co-payments for you from Medicare parts A and B. It even provides you with some extra coverage for hospital expenses when you are staying in a room. That’s an expense that the standard Medicare plan would be able to cover, but that coverage runs out at some point, and this supplemental coverage from Plan G will provide an additional 365 days of coverage.
On top of all that, Plan G also covers you for your nursing care coinsurance and your Medicare Part B excess charges. These can be small charges, but if you would have to pay them repeatedly throughout the year, it would be to your advantage to have them covered. All these expenses can add up, especially if they are repeated ones that you pay regularly.
You also get coverage for some blood in addition to what the standard Medicare provides. And finally, you will also be covered through Plan G for up to 80% of your foreign travel exchange costs, which relates to medical emergency travel expenses, but that coverage only activates after you pay the deductible.
All this coverage is included in Plan G, making it one of the most robust plans out there. The only supplemental charge that it won’t cover is that for the Medicare Part B deductible. Only one plan bothers to cover that- Plan F- and it is often much more expensive to go with Plan F than to pick Plan G and then pay for these deductibles on your own.
How Plan G Works
The only way you can sign up for Medicare Supplement Plan G 2018 is if you already have the standard Medicare plan. This supplemental plan is meant to be in addition to that plan, so you must start with the base plan. You also must drop any Advantage plans or other supplement plans you already have, if you want to go with Plan G. That’s because their cover can overlap, and Medicare does not allow that. If you try to sign up for two plans which have some similar coverage, then Medicare is going to cancel one of them for you, and you may not get to choose which one. It is better to go into the new plan prepared to only have the coverage you need.
Switching plans later is definitely possible, but it can be a bit of a hassle. You must pay a fee, in some cases and you may not get the same great rate that you were first promised for that other plan when you initially signed up for Medicare supplement coverage. You are only guaranteed great rates and the plan of your choice during open enrollment. When that is over, you have missed an opportunity for those benefits, and even your medical history can come into play and be a factor in determining how much you pay and whether you are even eligible for the plan of your choice.
It’s best to choose the most appropriate plan for you at the start and enjoy the best rates possible. You will want to take some time looking at the available plans and see how they stack up against one another. In most cases where high coverage is needed, Plan G is the best choice, but you may find that your circumstances warrant Plan F or Plan N instead as the best option. It is up to you to decide which plan is right for you, and you should be planning for open enrollment and which plan you want to go with.
You can find Plan G and other supplement plans at lots of different insurance companies. They all offer the same coverage. They must, because Medicare decides the coverage and not them. They can set the rates, though. You will find all sorts of different rates for Plan G, even though you are getting the same coverage every time. The coverage we listed above is what Humana, Aetna, Mutual of Omaha and others who may sell you Plan G will offer. But their rates are likely to be all over the place.
The rates change over time and from location to location. You won’t pay the same price for Plan G in Nebraska as you would for it in Tennessee, even if you buy from the same insurance company. Keep all that in mind as you shop around for the best plan and the best deal on the plan you want. You can compare prices and get as many quotes as possible to ensure you get a good deal. Just be sure that whether you choose Medicare Supplement Plan G 2018 or not, you get the plan that is right for you.