Medicare Supplement plans, also known as Medigap plans, are designed to fill the gaps left by Medicare, such as copayments, coinsurance, and deductibles. In this article, we’ll break down what Medicare Plan G covers, its benefits, and how it compares to other plans.
What Does Medicare Plan G Cover?
Medicare Plan G provides a broad range of coverage to help reduce out-of-pocket costs for Medicare beneficiaries. It covers many of the additional costs that Original Medicare doesn’t, making it one of the most popular Medigap options.
1. Part A Coinsurance and Hospital Costs
Medicare Plan G covers coinsurance and hospital costs after Medicare Part A benefits are used up. This includes the cost of a hospital stay for up to 365 additional days after Medicare benefits are exhausted. It also covers Part A hospice care coinsurance or copayments.
2. Part B Coinsurance or Copayments
Medicare Plan G covers the 20% of costs that Medicare Part B does not pay, which typically includes outpatient care, doctor visits, and some other medical services. This is one of the most important benefits of Plan G, as it helps reduce the burden of expensive medical visits.
3. Blood (First 3 Pints)
Original Medicare does not cover the first three pints of blood needed for a transfusion. Medicare Plan G covers this cost, which can be significant in certain medical situations.
4. Part A Deductible
The annual Part A deductible, which can be several thousand dollars, is covered by Medicare Plan G. This helps reduce your out-of-pocket costs if you require hospitalization.
5. Part B Excess Charges
Part B excess charges occur when a doctor or healthcare provider does not accept Medicare assignment and charges more than Medicare’s approved amount. Plan G covers these excess charges, ensuring you aren’t left with higher bills.
6. Skilled Nursing Facility (SNF) Coinsurance
Plan G covers the coinsurance for skilled nursing care after a hospital stay, which is an important benefit for those who need post-hospital care in a skilled nursing facility.
7. Foreign Travel Emergency Coverage
Medicare Plan G includes emergency medical coverage when traveling outside the United States. This can be invaluable for those who travel frequently or live part of the year abroad.
What Medicare Plan G Does Not Cover
While Plan G offers broad coverage, there are still some things it does not cover:
- Part B Deductible: The only gap in coverage with Plan G is the Part B deductible. This means that you will need to pay the Part B deductible out of pocket before Plan G begins covering your Part B costs.
- Vision, Dental, and Hearing Care: Medicare Plan G does not cover routine dental, vision, or hearing services.
- Prescription Drugs: Plan G does not cover prescription drugs, but you can purchase a separate Medicare Part D plan to cover this.
How Does Medicare Plan G Compare to Other Medigap Plans?
Medicare Plan G is often compared to Medicare Plan F, which offers similar coverage but also covers the Part B deductible. However, Plan F is only available to those who became eligible for Medicare before January 1, 2020. For those who are new to Medicare, Plan G offers almost the same comprehensive coverage as Plan F, with the only difference being the Part B deductible.
Plan G is also often seen as a more cost-effective option than Plan F due to its slightly lower premiums. Many beneficiaries choose Plan G because it provides excellent coverage at a more affordable price.
Conclusion
Medicare Plan G is an excellent choice for those seeking comprehensive coverage to fill in the gaps left by Original Medicare. With its wide range of benefits, including coverage for hospital and doctor visits, excess charges, and emergency travel, Plan G offers peace of mind and financial security. While it doesn’t cover the Part B deductible or some other services like dental and vision care, it provides a great value for those looking to minimize their out-of-pocket costs and maximize their healthcare coverage.
