Health Insurance

What Is Medicare Supplement Plan G?

What Is Medicare Supplement Plan G?

Medicare Plan G is one of 10 Medicare supplement policies that fill the coverage gaps in original Medicare. For this reason, many seniors choose to purchase Plan G to provide them financial support while being enrolled in Medicare.

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Although Plan G is one of the most comprehensive policies available, the plan will not cover the Medicare Part B deductible.

How does Medicare Plan G work?

Medicare Plan G is a supplemental Medigap health insurance plan that is available to individuals who are disabled or over the age of 65 and currently enrolled in Medicare. Plan G is one of the most comprehensive Medicare supplement plans that are available to purchase.

Medicare Plan G is a supplemental policy, meaning it's not your primary coverage but fills many of the gaps in a Medicare policy. Part A or Part B benefits would pay for health services you need. Once those benefits are exhausted, Plan G pays for any remaining costs.

Plan G also covers some of the expenses related to your Medicare policy. For example, Medicare Part A has a deductible of $1,408. If you don't have Plan G, then you'll pay that deductible out of pocket. But with Plan G coverage, your health insurer would pay for the entire deductible.

Medicare Plan G coverage

Medicare Plan G benefitsCovered?
Medicare Part A coinsurance and hospital care
Medicare Part B coinsurance
Blood (first 3 pints)
Part A hospice care coinsurance and copay
Skilled nursing home coinsurance
Medicare Part A deductible
Medicare Part B deductible
Medicare Part B excess charges
Foreign travel emergency

Medicare Plan G will not cover your original Medicare Part B deductible, which costs $198 in 2020. You would pay for medical services—such as outpatient care, preventive care and ambulance services—out of pocket until you have reached the deductible amount. Then Medicare would cover your health care costs.

Does Medicare supplement Plan G cover SilverSneakers?

The SilverSneakers program encourages older adults to participate in physical activities that promote a healthier lifestyle. Your insurer pays for a basic membership at any gym in the SilverSneakers network. Plan G typically covers the SilverSneakers program, but it may depend on where you purchased Plan G and where you live. You can check whether you're eligible for a SilverSneakers policy at its website.

How much does Medicare Plan G cost?

Medicare Plan G will cost between $199 and $473 per month in 2020, according to Medicare.gov. You'll see a range of prices for Medicare supplement policies since each insurance company uses a different pricing method for plans. Furthermore, your exact price for Plan G will also be determined by your location, current health, age and gender. For this reason, it is vital to compare rates among different Medicare providers so you can get your best Medicare rate possible.

Are Medicare Plan G premiums tax-deductible?

Medicare Plan G premiums are health expenses, so they're considered tax-deductible on a federal tax return. If you spent more than 10% of your adjusted gross income on eligible medical expenses, then itemizing may help you save.

When and where to buy Medigap Plan G

You can purchase a Medigap Plan G supplement policy through private health insurance companies such as Aetna and UnitedHealthcare. However, not all insurance providers are required to offer Plan G. Therefore, you should research which insurance companies offer a plan that fits your needs and compare quotes so you get your best rate possible.

Starting three months before you turn 65, you have seven months to enroll in Medicare—and Plan G, if you choose. You can also make changes to your Medicare insurance (like adding Plan G) during open enrollment season, which lasts from Oct. 15–Dec. 7 each year.

Medicare Plan G vs. Plan F

The main difference between Medigap Plan G and Plan F is that Plan F will cover the Medicare Part B deductible. However, as of January 2020, Plan F is no longer available to new Medicare enrollees.

Medicare Plan N vs. Plan G

When compared to Medicare supplement Plan N, Plan G provides more comprehensive coverage. Both policies will not cover the Part B deductible; however, Plan N will not pay for expenses related to the Medicare Part B excess charges. Excess charges can occur when there is a difference between what is billed to Medicare for your treatment and what is actually paid by Medicare. This difference would be paid for you out of pocket if you had Plan N, for example.

However, since Plan N has less coverage, the monthly premium for the policy will be less than Plan G. For 2020, Plan N will cost between $149 and $289 per month.

Sterling Price

Sterling Price is a research analyst at ValuePenguin specializing in health and life insurance. He graduated from Syracuse University with a bachelors degree in Finance and Accounting and has previous experience as a licensed life insurance representative.

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