High Deductible Plan G
High Deductible Plan G was once just a rumor, something we heard about through the grapevine. Now, Medicare Supplement High Deductible Plan G (HDG) is certain. However, this policy hasn’t made an official debut for purchase on the Medicare market.
Let’s discover more about the new policy coming to Medicare in 2020!
Medicare Supplement High Deductible Plan G
The High Deductible Plan G becomes available on January 1, 2020. This policy is available to both current beneficiaries and new to Medicare individuals.
Let’s say Julia is eligible for Medicare on December 1, 2019; however, Julia delays enrollment until the new year. Since she was eligible for Medicare before 2020, Julia has several plan options.
Julia is eligible for Medigap Plan F, C, and High Deductible F. Also, Julia can enroll in High Deductible Plan G.
Although, Julia could only set up enrollment in December for High Deductible Plan G to begin in January.
It’s never a good idea to delay enrollment. If the High Deductible Plan G is the most beneficial policy for you, an agent can walk you through the best ways to navigate coverage.
Medigap High Deductible Plan G Coverage
The HDG plan and High Deductible Plan F (HDF) likely have the same deductible amount; however, the HDG policy requires the beneficiary to pay the Part B deductible.
HDF has a deductible of $2,300. The Part B deductible in 2019 is $185 annually.
The HDG policy won’t cover the Part B deductible; however, it’s likely that amount applies towards the plan’s total deductible. So, essentially the policy is similar to the High Deductible Plan F.
Now, if a beneficiary doesn’t meet the Part B deductible before the $2,300 deductible is met, they could be responsible for paying both the plan deductible and the Part B deductible.
Although the benefit summary for this policy isn’t available, we expect the deductible needs to be met before coverage begins.
Cost of High Deductible Plan G vs High Deductible Plan F
Since this policy has coverage comparable to the High Deductible Plan F, the price should be similar.
Beneficiaries eligible for Medicare prior to 1/1/2020 can still select a Plan C, F, or HDF. Even if they opted out of enrolling in Part B when they were first eligible.
High Deductible Plan G is Ideal for Those Who:
- Rather have a high deductible plan with a lower monthly premium
- Semi-frequently see the doctor or end up in the hospital
- Reside in states that allow excess charges
- Enjoy traveling outside the U.S.
Medigap High Deductible Plan G Eligibility
Let’s say Gary is eligible for Medicare in February 2020. Gary won’t be eligible for first-dollar coverage plans of 2019; however, he’s eligible for Medicare Supplement High Deductible Plan G.
If Gary was eligible for Medicare in 2019 then he could’ve had the High Deductible Plan F instead. However, since he’s newly eligible this isn’t an option.
Beneficiaries on disability and Medicare-eligible prior to age 65 have Guarantee Issue rights upon turning 65. If under 65 individuals are Medicare-eligible prior to 2020, they have access to Plan F, C, and HDF when they turn 65.
In 2020, this policy should be available to those eligible in 2020 with Guaranteed Issue (GI) due to loss of coverage. Since Plan HDF is going away as an option for GI, it only makes sense that this comparable option would become available. However, we can learn more after the policy makes an official introduction.
Those eligible prior to 2020, losing coverage, won’t have access to High Deductible Plan G without medical underwriting. However, if your health is fairly decent, you may be able to qualify.
The best way to discover eligibility is with the help of one of our licensed brokers.
Medicare Supplement High Deductible Plan G Enrollment
So far enrollment in the HDG plan isn’t available. As of today, we don’t know when the policy launch takes place. However, we’re anticipating its arrival.
The best policy for you depends on many different factors; such as location, eligibility, and health condition. Many seniors select standard Plan G; however, some may find the lower premium of the high deductible policy is more valuable.
While enrollment in High Deductible Plan G isn’t available yet, it’ll be ready soon. Bookmark this page to check back for updates as we get closer to 2020.
The easiest way to ensure you have the most suitable coverage is to consult a Medicare Expert. Our agents here can help you navigate through the murky waters of Medicare.
They simplify the process by asking you a couple of questions to identify the best coverage options. Then, once you select the best policy, they can walk you through the application over the phone.
Call the number above or fill out an online rate comparison form to discover your most suitable coverage.