Features and Benefits of Plan G

Introduction

Plan G of the Medicare Supplement plan has been gaining popularity. It comes closest to the most popular and comprehensive Medigap Plan F.  The only difference between the Plan F and Plan G is that the later does not cover the deductible under the Original Medicare Part B. Further, due to the discontinuation of the Plan F for new customers from January 1, 2020, the customers are considering purchasing the Plan G. The sales of the Plan G have been registering a steady increase due to this. The detailed features and benefits provided by the Plan G of Medigap are provided below:

 

Features of Plan G

The Plan G covers the unmet expenses of Original Medicare Part A and Part B. It covers the excess charges under the Plan B of the Medicare. The customers are also protected against emergency healthcare expenses while traveling to foreign countries. The maximum limit for foreign travel medical emergency healthcare expenses is $50,000.  It provides coverage for first three pints of blood used in a year and skilled nursing facility care coverage.

 

Excess Part B Charges

One of the unique features of the Plan G of Medicare Supplement plan is that it covers the Part B excess charges. Medigap Plan F and Plan G are the only plans which cover Part B excess charges. Excess charges are the additional charges which the customers may have to pay over and above the Medicare-approved charges for medical procedures.  Generally, the Medicare has set approved payment rates known as the Medicare fee schedule for different Medicare-covered services. The excess charges are the difference between what the Medicare pays and what the doctor actually charges. The customers may have to pay extra if the doctor does not accept the assignment. As per law, a doctor can charge a maximum of 15% in excess to the Medicare-approved charges. The excess charges are met by the Plan G so the users do not have to pay it out-of-pocket.

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Value for Money

Plan G provides good value for money. It provides all the benefits of Plan F except the deductible for Part B. The deductible for Part B for 2019 is $185. The customers once they reach their deductible, are provided 100% coverage against all out-of-pocket expenses. The difference in premium between Plan F and Plan G is more than the deductible for Part B. The customers can save significantly on the premium compared to the Plan F.