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Plan G is one of 10 Medicare Supplement policies that fill the coverage gaps in Original Medicare, Parts A and B. For this reason, many seniors purchase Plan G to reduce their out-of-pocket medical costs while enrolled in Medicare.
Although Plan G is one of the most comprehensive policies available, the plan does not cover the Medicare Part B deductible.
How does Medicare Plan G work?
Plan G is a supplemental policy, meaning it's not your primary coverage, but it fills many of the gaps in a Medicare policy. Part A or Part B benefits pay for health services you may need.
Once Medicare pays its share, Plan G pays for most remaining costs.
Plan G also covers some of the expenses related to your Medicare policy. For example, Medicare Part A has a deductible of $1,600 for 2023. If you don't have Plan G, you pay that deductible out of pocket. But with Plan G coverage, your health insurer pays the entire deductible.
Plan G is available to individuals who are disabled or over the age of 65 and currently enrolled in both Part A and Part B of Medicare.
Medicare Plan G coverage
Medicare Plan G benefits
|Medicare Part A coinsurance and hospital care|
|Medicare Part B coinsurance|
|Blood (first three 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 is $226 for 2023. You will pay for medical services — such as outpatient care, preventive care and ambulance services — until you have reached the deductible amount. Then Medicare will cover your health care costs.
How much does Medicare Plan G cost?
A Medicare Plan G costs $145 per month on average for a 65-year-old. You'll often see a range of prices for Medicare Supplement policies because each insurance company uses a different pricing method for plans. Furthermore, your exact price for Plan G will also be determined by your location, 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 spend more than 7.5% 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 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 sign up for or make changes to your Medicare insurance (like adding Plan G) during open enrollment season, which runs from Oct. 15 to Dec. 7 each year.
Medicare Plan G vs. Plan F
The main difference between Medigap Plan G and Plan F is that Plan F covers the Medicare Part B deductible, while Plan G does not. However, as of January 2020, Plan F is no longer sold to newly eligible Medicare recipients.
Medicare Plan N vs. Plan G
When compared to Medicare Supplement Plan N, Plan G provides more comprehensive coverage. While Plan G pays for expenses related to Medicare Part B excess charges, Plan N does not. You would pay the difference out of pocket if you had Plan N.
However, Plan N has cheaper rates than Plan G. For 2023, Plan N costs on average $111 per month — about 23% less than Plan G. Neither Plan N nor Plan G covers the Medicare Part B deductible.
Does Medicare Supplement Plan G cover SilverSneakers?
Plan G typically covers the SilverSneakers program, but it may depend on where you purchase Plan G and where you live.
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.
You can check whether you're eligible for a SilverSneakers policy at its website.
Medicare Supplement plan costs are based on actuarial data for a 65-year-old woman who doesn't smoke based on preferred or guaranteed issue rates without a household discount. Averages exclude Select plans and plans in states that don't use national standardization.