An In-Depth Look at Medicare Plan G: What You Need to Know

Let’s be honest—Medicare can be confusing, like trying to fix your TV remote after your grandkid messed with the settings. But no need to worry!

We’re going to explain Medicare Plan G as simply as possible, without all the complicated insurance talk.

Medicare Plan G

So, what is Medicare Plan G? It’s designed to fill in the gaps left by Original Medicare. While Original Medicare covers a lot, it doesn’t cover everything, leaving you with some out-of-pocket costs.

Plan G takes care of most of them, so you don’t have to worry about paying for things like coinsurance, deductibles, or hospital costs. It’s a way to make sure you’re not stuck with unexpected medical expenses when you’re already dealing with health problems.

What Does Plan G Cover?

Plan G is like that friend who always has your back. It covers:

• Hospital costs (Part A Coinsurance & Deductible) – If you ever find yourself in the hospital, Plan G takes care of those costs that Medicare leaves behind.
• Doctor visits (Part B Coinsurance) – No one likes surprise bills after a doctor visit. Plan G helps cover your portion of the costs.
• Skilled nursing Facility Coinsurance – If you ever need rehab or skilled nursing care, Plan G makes sure your wallet doesn’t take a hit.
• Excess charges – Some doctors charge more than what Medicare allows. Plan G covers those extra fees, so you don’t have to stress.
• Foreign travel Emergency Coverage – Because sometimes, emergencies happen outside of the U.S., and medical bills abroad can be ridiculous.

The only thing Plan G doesn’t cover is the Medicare Part B deductible, which is a small yearly cost ($240 in 2024). Besides that, it takes care of almost everything.

Why Choose Plan G Over Other Medigap Plans?

If you’re wondering why people love Plan G, here’s the deal:

• Wide coverage – Plan G covers almost everything except the Part B deductible, making it one of the most complete Medigap plans.
• No network restrictions – You can see any doctor or specialist that accepts Medicare. No referrals, no weird hoops to jump through.
• Peace of mind – No surprise medical bills sneaking up on you like a ninja.

Plan F used to be the king of Medigap plans because it covered everything, but it’s no longer available to people who became eligible for Medicare after January 1, 2020. That’s why Plan G has become the new favorite.

How Much Does Medicare Plan G Cost?

Alright, let’s talk money. The cost of Plan G varies depending on your state, age, gender, and whether you smoke (yes, they actually ask that). On average, you can expect to pay between $100 and $300 per month for a Plan G policy. Some factors that affect the price include:

• Where you live – Some states have higher healthcare costs, which means higher premiums.
• Your age – The older you are, the more you might pay (thanks, aging!).
• How your plan is priced – Some plans charge based on your age now, while others increase as you get older.

The good news? You can shop around and compare rates from different insurance companies. Medicare Plan G benefits are standardized, meaning they cover the same things no matter who you buy from—the only difference is the price. So, don’t be afraid to look for the best deal.

Is Medicare Plan G Worth It?

Is Plan G worth it? That really depends on your health, budget, and how much you want to avoid surprise medical bills.

If you go to the doctor often, need regular treatments, or just want peace of mind knowing your medical costs won’t drain your wallet, Plan G is a solid choice. It’s basically insurance for your insurance—sounds a little funny, but it does the job.

Whether Plan G is worth it comes down to what you’re looking for in coverage. If you’re someone who doesn’t want to constantly worry about unexpected medical bills, Plan G can be a real lifesaver. While it’s not the cheapest option, the peace of mind it gives you—knowing most of your healthcare costs are covered—can be well worth the extra cost, especially if you have ongoing health needs or want to avoid surprise bills down the road.

How to Enroll in Plan G

Signing up for Plan G is pretty simple. Here’s what you need to do:

1. Make sure you’re eligible – You need to be enrolled in both Medicare Part A and Part B before you can get a Medigap plan.
2. Shop around – Compare prices from different insurance companies. Remember, the benefits are the same no matter who you choose.
3. Apply during your Medigap open enrollment period – This is the six-month window that starts when you turn 65 and enroll in Part B. During this time, you can get any Medigap plan without medical underwriting, meaning you can’t be denied coverage or charged more due to pre-existing conditions.
4. Relax and enjoy the coverage – Once your plan kicks in, you can breathe easy knowing you’re covered.

Medicare Plan G is a great choice if you want solid coverage and fewer surprise bills. It covers almost everything except the Part B deductible, and you can see any doctor who takes Medicare. It’s not the cheapest plan, but many people think it’s worth it for peace of mind.