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Medicare Supplement High Deductible Plan G


Medicare Supplement (Medigap) High Deductible Plan G is one of the newest standardized Medicare Supplement plans. Medigap High Deductible Plan G is a great option for Medicare beneficiaries who want the benefits of standard Medicare Supplement Plan G but would prefer lower monthly premiums. Learn more about Medicare Supplement Plan G High Deductible and make an informed decision on your coverage.

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What is High Deductible Plan G?

Medigap High Deductible Plan G is a Medicare Supplement plan that offers the same coverage as the standard Medicare Supplement Plan G. The premiums for the high deductible version are lower than the premiums for the standard Medicare Supplement Plan G. Yet, enrollees must pay a higher deductible for coverage to kick in at 100%. Cost-sharing you pay out-of-pocket, as well as the Medicare Part B deductible, applies toward the high deductible amount.

High-Deductible Plan G Pros and Cons

There are 12 lettered Medigap plans, providing beneficiaries a variety of options to fit their differing needs. There are pros and cons to each plan, and Medicare Supplement High Deductible Plan G is no exception. Let’s break down the High-Deductible Plan G pros and cons further to compare:

Pros:

  • Medigap High Deductible Plan G provides some of the most comprehensive benefits of any Medigap plan, just like standard Plan G. But because of the higher deductibles, you can enroll and avoid a higher monthly premium.
  • Your benefits are similar to Medicare Supplement Plan F High Deductible and standard Plan F, except for covering your Medicare Part B deductible. It’s a great alternative for those who became eligible for Medicare after the plan’s cutoff date (January 1, 2020).

Cons:

  • Because the premiums are lower, you’ll need to pay a higher deductible before receiving full coverage for your benefits.
  • Not only is the deductible costly for many, but it also tends to rise over time. This means your out-of-pocket costs are only likely to go up as you age.
  • It’s also important to note that your deductible doesn’t carry over to other carriers if you switch providers.

Medicare Supplement High Deductible Plan G is ideal for those who:

  • Are comfortable paying a higher deductible in exchange for lower monthly premiums
  • Don’t often see the doctor or need to visit the hospital
  • Live in a state that allows excess charges
  • Enjoy traveling outside the U.S.

For a full summary of what Medicare Plan G High Deductible covers in contrast to other plans, see the Medicare Supplement High Deductible Plan G Comparison Chart 2023 below.

High Deductible Plan G Medicare Supplement Plan Chart for 2023
Again, the healthcare needs of each person will be different, and it’s important to consider all of your options before enrolling in a plan.

Choosing among these plan options can be intimidating, but working with a licensed Medicare agent can help you pinpoint the right coverage for you.

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For example, if Medigap Plan G or High Deductible Plan G isn’t right for you, an agent can help you receive the right healthcare coverage, such as the popular Medicare Supplement Plan N option, to keep you adequately protected.

Medicare Supplement High Deductible Plan G Benefits

Medicare Supplement High Deductible Plan G is a great option for those with a tight budget.

How Much Does Medicare Supplement High Deductible Plan G Cost?

The average cost of Medicare Plan G High Deductible is around $40-$90 per month. Medigap Plan G High Deductible cost varies based on several factors and will vary from company to company. Some of the most common factors private carriers assess include your age, location, tobacco usage, and gender.

What is the Deductible for Medigap High Deductible Plan G?

The deductible for Medicare Supplement High Deductible Plan G is $2,700. Beneficiaries reaching this deductible keeps the premiums low for this plan. Alternatively, if you are more comfortable with higher monthly premiums and would rather not pay the higher deductible, standard Medicare Supplement Plan G would be the better choice for you.

Is Medicare Supplement High Deductible Plan G Better than High Deductible Plan F?

The only difference between Medicare Supplement High Deductible Plan G and Medigap High Deductible Plan F is the same as between Medicare Supplement Plan G and Plan F; the latter covers the Medicare Part B deductible. However, since the amount you pay towards the Medicare Part B deductible applies to the high-deductible for the plans, they are essentially identical.

So which one is better? If you’re eligible for either Medicare Supplement plan, the Medicare Supplement plan that has the lower monthly premium in your area would be the better choice. Keep in mind, both versions of Medicare Supplement Plan F are now unavailable to new Medicare beneficiaries.

Can I Use Guaranteed Issue Rights to Enroll in Medicare Supplement High Deductible Plan G?

Due to the elimination of first-dollar coverage plans, if you aren’t eligible to enroll in one and have guaranteed issue rights, you can use these rights to enroll in Medigap Plan G High Deductible. Conversely, those who can use guaranteed issue rights to enroll in Medicare Supplement Plan F are not eligible to use them to enroll in either version of Medicare Supplement Plan G.

FAQs

Which carriers offer High Deductible Plan G in 2023?
The carriers that offer Medicare Supplement High Deductible Plan G vary by location. The best way to get a full list of insurance companies offering this plan near you is to speak to a licensed agent.
What is the difference Between Medicare Plan G vs Plan G High Deductible?
The core difference between Medicare Supplement Plan G vs Plan G High Deductible is how much you pay and how you pay. Medicare Supplement High Deductible Plan G offers the same benefits as standard Plan G, but High Deductible Plan G comes with a lower monthly premium. However, the trade-off is that you also must pay the higher deductible before receiving full coverage.
Is High Deductible Plan G worth it?
If you do not mind needing to reach the high deductible amount for full coverage from your plan, the lower premiums for Medigap High Deductible Plan G could provide the best value for you. Remember, however, the Plan G High Deductible cost when receiving healthcare services can be sizeable for many, making other plans superior options depending on your budget.

How to Enroll in Medicare Supplement High Deductible Plan G

At MedicareFAQ, we believe that choosing a Medicare Supplement plan is not something you should have to do on your own. For this reason, our goal is to guide you to make an informed choice, so you choose the plan that provides the most value to you. If you think that Medigap High Deductible Plan G could be right for you, the next step is to speak to an agent today.

To start the process, call the phone number above or fill out our online rate form. An agent licensed in your state will prepare a premium rate comparison with quotes from our top carriers to explore your coverage options, including High Deductible Plan G.

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Jagger Esch

Jagger Esch is the Medicare expert for MedicareFAQ and the founder, president, and CEO of Elite Insurance Partners and MedicareFAQ.com. Since the inception of his first company in 2012, he has been dedicated to helping those eligible for Medicare by providing them with resources to educate themselves on all their Medicare options. He is featured in many publications as well as writes regularly for other expert columns regarding Medicare.

41 thoughts on “Medicare Supplement High Deductible Plan G

  1. If I enroll under HD Plan G or F, will I be eligible for a once per lifetime transfer from my IRA to my HSA? If so, what would be the maximum transfer?

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