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Medicare Supplement Plan G

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Medicare Supplement Plan G was the runner up among supplement plans. It’s now moved on up to become the most popular plan in 2021. Let’s take a look at the details of Plan G and see if this is an option that would work for you.

Overview of Medicare Supplement Plan G

Medicare Supplement Plan G is favored among beneficiaries due to having a lower premium that doesn’t impact your benefits too much.

Plan G is Great for Those Who:

  • Want comprehensive coverage
  • Want a plan with stable rate increases
  • Don’t want out of pocket costs like copays or coinsurance
  • Live in a state(s) that allow excess charges
  • Travel outside the U.S. to vacation
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What Does Medicare Supplement Plan G Cover?

Anything that Medicare covers, Plan G will also cover, minus the outpatient deductible under Part B. It covers your inpatient hospital costs, as well as outpatient. The only thing you have to pay out of pocket is your monthly premium and the above-mentioned deductible.

Medicare Supplement Plan G Comparison Chart

Medicare Supplement Plan G Comparison Chart for 2021

How Much Does Medigap Plan G Cost?

The average monthly premium for Plan G is around $110. But, the cost of Medigap depends on many different factors.

Standardized benefits mean the benefits remain the same even when you choose a different carrier. The only difference between Plan G with one carrier vs. another carrier is the premium. You may find that the same plan, with the same benefits, costs less with a different carrier.

Further, location is a HUGE factor in cost. The premium is different from state to state.

For instance, if you live in Florida, the average monthly premium for Plan G could be anywhere between $160-$200. If you live in Texas, the average monthly premium is between $96-$205.

Now, if you live in a state that has a lower cost of living, you can expect to pay a little less.

That’s why it’s essential to work with an agent that works with multiple carriers. Using this method of research ensures you get a non-biased quote & can compare all carriers side by side.

Plan G for Those Under 65

If you’re on Medicare & under 65, you may not be able to enroll in a Medigap plan. Not all states offer these plans to beneficiaries under 65.

If your state does offer plans to those under 65, the premiums are astronomical. There are a few states that don’t increase your premiums if you’re under 65. Some states are Illinois, Tennessee, and Pennsylvania.

What’s an Alternative to the Standard Plan G?

For those looking for a smaller monthly premium without sacrificing benefits, there is an alternative to the standard Plan G. The newly introduced High Deductible Plan G.

The plan offers beneficiaries a lower monthly premium in exchange for a high deductible.

If we go back to or above cost example, the High Deductible Plan G has a monthly premium of around $46 in Florida and $30 in Texas.

What if I don’t want a High Deductible Plan?

Another good alternative is Plan N. Plan N has a small copay for ER visits & doctor visits. There is a loophole with this. If you go to an urgent care center, there is no copay!

FAQ’s

What is the deductible for Plan G?
With Plan G, the only deductible you’re responsible for is the Part B deductible, which is $203.
Does Plan G cover prescriptions?
For any medications given in an outpatient setting that fall under Part B, Plan G will cover any coinsurance. But, when it comes to prescriptions that you pick up from the pharmacy, you’ll need a separate drug plan.
Does Plan G have high rate increases?
Another reason this is a favorite supplement plan among beneficiaries is due to the history of lower rate increases. When compared to Plan F, Plan G has a smaller rate increase from year to year.
Which is better, Medicare Plan F or Plan G?
This is the question we get asked the most when clients are inquiring about Plan G. The answer comes down to benefits since Plan F covers more benefits, it’s considered the better plan.
Is Medicare Plan G going away?
No, Plan G is not a first-dollar coverage plan. Only first-dollar coverage plans, such as Plan F and Plan C, will be eliminated.
What's the difference between Plan N and Plan G?
The main difference is the cost-sharing. Plan N comes with small co-pays, Plan G does not.

How to Enroll in Medigap Plan G

Medicare is NOT easy to understand. It changes from year to year, and sometimes more! Our job at MedicareFAQ is to help you learn on all things Medicare. We work around the clock to make sure our clients are well educated on their Medicare options.

Our services are 100% free to you. We work with dozens of carriers to guarantee you’re getting the best possible rate that’s available in your area.

Give us a call today at the number above or fill out an online rate form and discover the options in your area now!

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Lindsay Engle

Lindsay Engle is the Medicare expert for MedicareFAQ. She has been working in the Medicare industry since 2017. She is featured in many publications as well as writes regularly for other expert columns regarding Medicare. You can also find her over on our Medicare Channel on YouTube as well as contributing to our Medicare Community on Facebook.

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