If you’ve been searching for a Medigap Plan G review, here is what you need to know! The article reviewing Medicare Supplement Plan F was such an awesome posting. So, we thought it was time to discuss Medicare Supplement Plan G coverage.
Medigap Plan G is now the #1 most frequently requested policy in our agency. Many people enroll in Plan G.
Sometimes this plan is mistakenly called the Part G policy. However, “Plans” describe supplements and “Parts” describe Medicare.
This must be because its coverage is still almost as comprehensive as Plan F, but the premiums are usually much lower.
Let’s take a look at how the myriad of insurance carriers compared with their Plan G ratings.
Medicare Supplement Plan G Review
- Gerber Medigap Plan: A+
- Aetna Medigap Plan: A+
- Blue Cross Blue Shield Medigap Plan: A+
- Banker’s Life Medigap Plan: A+
- Cigna Medigap Plan: A+
- Manhattan Life Medigap Plan: A+
- Oxford Medigap Plan: A+
- Mutual of Omaha Medigap Plan: A+
- TransAmerica Medigap Plan: A+
- ANOTHER insurance carrier’s Medigap Plan G: Always an A+
With Supplements, they all deserve an A+ on benefits and coverage, exactly like with Plan F. Medicare Advantage plans are different because they can have hidden costs.
If you’re like me and you looked for a chart of insurance carriers with a list of 4 or 5 little gold stars in the standard “review” style, I’ll tell you now, this doesn’t exist for Supplements.
You won’t find this because the benefits for Plan G will be the same no matter which insurance company is offering the coverage.
Basically, there’s no Plan G that will pay better than the next carriers Plan G.
Since Medicare standardizes these plans, every Plan G will cover the same gaps in Medicare, no matter what. Medicare determines when and what to cover, so there is never a need to question what the Medicare Supplement company will approve.
For the Medigap policies, if Medicare pays its share, the Supplement will pay its share too. Therefore, in my opinion, each Plan G that exists should score an A+ on coverage and benefits. This is because of it’ill pay exactly as Medicare ruled it to pay.
Many people have enrolled in Plan G through our agency with no problems and our reviews with Plan G are excellent!
Choosing the Right Plan
I want to share some tips with you, mostly they’re general since everyone is different and we all have varied risk tolerances and different budgets.
Medicare Supplement Plan G Reviews with A and B Rated Carriers
No matter which company you choose, your benefits will be the same either way. There are so many different Medicare Supplement carriers out there. Plus, financial rankings from websites like A.M. Best can vary a bit.
In my option, we have many affordable, stable companies offering Medicare Supplement plans with A+ ratings.
Don’t enroll with a carrier that has average or below-average ratings. Plenty A or B rated companies are available for you to choose from and their rates are incredible.
So, choose someone you can trust, a name brand that won’t leave the insurance or Medicare industry.
Compare Rate Trends Carefully
Plan G has had low price increases over the last couple of years. The reason being, anyone who enrolls in Plan G must pay the Part B deductible out of their own pocket.
Although, the Part B deductible for 2019 is only $185. Most importantly, this little deductible requires clients to put some of their own money into the pot.
The idea is that Plan G beneficiaries aren’t as likely to see the doctor over a runny nose when they must pay the Part B deductible.
This is beneficial for you since the result is the insurance carrier incurring lower expenses for the group of insured getting coverage through Plan G.
The lower loss ratio benefits you also, it typically means lower premium increases for the next year.
An Insurance expert is able to provide you with a report showing rate increases with a variety of insurance carriers.
If a company experienced a 5% rate increase on Plan G in the last couple of years and some other carrier has a 12% rate increase, you should consider this information when you’re choosing your insurance provider.
Customer Service from Your Broker, Not Your Insurance Company
Basically, each insurance company has a huge call center and if you call them, within minutes you’re connected to the customer service agents for your issues.
There is nothing reassuring about this, why should you call a large insurance carrier call center to talk to an outsider that doesn’t know your situation.
Purchasing insurance at the same exact price, through an expert that can handle your customer service issues as well, that sounds like a winning choice
Working with a broker has great benefits and plenty of excellent brokers that offer coverage in your region. The cost remains the same to you either way, but with a broker, you can feel confident in your coverage.
You need a reliable broker on by your side when you reach eligibility. The broker should be a Medicare expert. Call us; it will ensure that you are well informed, understand your options, and any limitations.
It will also guarantee you are not compromising your needs to obtain an affordable premium. You can also compare rates online in your region using our rate form.