While more people are signing up for Plan G than any other Medicare supplement plan, there is still a lot of confusion about this plan, what it offers and how it compares to the other plans. We are going to examine Medicare Supplement Plan G for 2018 a bit closer and answer some of the most common questions about it.
How Much Will It Cost?
The first question most people have about any Medicare supplement coverage plan is how much money it is going to cost them. The answer is that while there is an average price, there is no standard price. You can pay a very different price for the same plan at one end of the country than you would at the other end. Even in the same area, you will find lots of different prices on the same plan. What’s amazing about that is that all the companies that offer Plan G (or whatever plan you are looking at) at different rates are all offering the exact same coverage.
Of course, they have to, since Medicare determines the coverage on its plans. Medicare won’t allow any insurance companies to change its plans’ coverage, no matter what price they want to set for the plans. That’s important to keep in mind, as it allows you to go for the lowest possible price on any given plan without having to be concerned about coverage loss.
Where Can I Purchase Plan G?
We have already alluded to this, but Plan G, and all other supplement plans, are available only through private insurance companies. You won’t find Medicare selling these plans at all. That organization only regulates them.
You should know that not every company that sells Medicare supplement plans is selling all of them. Plan G can be hard to find at times, since it is not one of the plans that Medicare requires an insurance company to carry. You see, if any company wants to sell some of Medicare’s supplement plans, they must sell at least a few of them that Medicare has picked out for itself. Plan G only recently became the most popular of the supplemental plans, so it is not available just yet through every insurance company that sells supplement plans.
What Will It Cover?
While pricing is important as you try to figure out which plan will work best for you, it is equally important to consider the plan’s coverage. You want a plan that can meet your medical coverage needs, taking care of your most expensive or most common medical treatments. Plan G might be able to do that, so let’s look at what it covers for you.
The following coverage is all available for Medicare Supplement Plan G subscribers:
- Copayments for Medicare parts A and B
- Deductible for Part A
- Excess charges for Part B
- Coinsurance for nursing care
- Supplemental hospital expenses up to 365 days
- Foreign travel exchange (up to the maximum of 80%, after paying a deductible)
That coverage does not vary from one insurance company to another. Medicare Supplement Plan G 2018 will always carry that coverage.
Can I Switch Plans?
Let’s say that you signed up for Plan G and were okay with it for a while, but then something changed. Perhaps your health become worse or your budget became tighter and suddenly Plan G is no longer the best option for you. In this instance, you would need to change plans to keep getting the best deal for you. You can do that and change out the plan you have a for a different one, but it could mean some hassle for you.
You will likely have to pay a cancellation charge, unless you simply allow the plan to expire on its own and don’t renew. You can choose the other plan you were wanting, but be aware that you won’t have the same access to great prices as you did when you first signed up for supplement plans, if you initially signed up during Open Enrollment.
Can I Have Other Plans Covering Me as Well?
You have to have the standard Medical plan to qualify for a supplemental plan. So, you must start there, but what about other plans that add extra coverage on? Can you be signed up for those along with Plan G or another supplemental plan?
The answer is going to be “no” in most cases. You cannot be signed up for two supplement plans at the same time. Their coverage overlaps too much for that to make sense. Most of them cover a lot of the same ground.
You can’t be signed up for any other plans that overlap as well. That means no Medicare Advantage plans either, which offer a lot of similar coverage, even though they do more than the supplement plans.
You could be signed up for Medicare Part D at the same time, though. This plan covers prescription drug costs, and it can be a good complement to the supplement plans.
Is Plan G Right for Me?
After you have examined Plan G, you might be considering signing up for. It. You must be careful about signing up for any supplement plan, though. There are lots of these to choose from, and you want to make sure you pick the right one. It can be tough to change your selection later, as we talked about earlier.
Take some time to choose the best plan for you and ensure that you are picking plan that covers you well and that you can afford to pay the premiums on from month to month.
Medicare Supplement Plan G for 2018 may be that very plan- the best and most suitable plan for your needs. But you need to take some time to examine it to find that out. Once you do, just find the lowest price you can for it and enjoy the coverage it has to offer.