Does The Medicare Plan G Make Sense In Florida?

Many consider the Medicare supplement plan G to be the New Medicare Supplement plan F.  The plan G features the same benefits as the plan F, excepting one key difference: The Medicare Part B deductible, covered under Medigap Plans C and F, must be paid out-of-pocket in Medigap Plan G.  Once your out-of-pocket expenses reaches the Part B deductible amount, plan G and plan F are practically identical.

Several major health insurance companies in Florida are currently offering the Medicare plan G.  The plan G option is an especially important due to the fact that effective January 1, 2020, the Medicare plan F will only be available for purchase for consumers who become Medicare eligible prior to 2020.  If you reach the age of 65 after Jan 1, 2020, Medicare plan F (or plan C) will not be available for you to purchase.

The Medicare Supplement Plan G basic benefits

• Part A hospital coinsurance and hospital costs up to 365 days after Original Medicare benefits are exhausted.
• Part A hospice care coinsurance or copayment.
• Part A deductible.
• Part B preventive care coinsurance.
• Part B coinsurance or copayment.
• Part B excess charges.
• First three pints of blood for a medical procedure.
• Skilled nursing facility (SNF) care coinsurance coverage.
• Limited foreign travel emergency medical care.

Both plan G and plan F also cover 100% of Part B excess charges.  Excess charges can occur when the medical provider does not accept Medicare assignment.  If this happens, the service provider could charge you more than the Medicare approved amount.  By law, providers cannot charge more than 15% above what Medicare allows.  With both Medicare Supplement Plan G and F, excess charges are paid for.



Medicare Supplement Plan G High Deductible Plan

Beginning January 1, 2020, Plan G will offer a high deductible option.  The Medicare G high deductible plan deductible is $2340. 00 (For 2020).  Once the plan deductible is met, the benefits are the exact same as that of the regular plan G.

Because of the deductible, The plan G is one of the most inexpensive Medicare supplement plan options available.  All 10 Medigap policies must follow federal and state laws designed to protect the policy holder.  To find out more about the plan G, or any Medicare supplement options available in Florida, please give us a call. 

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