Medicare Supplement Plan G
Medicare Supplement Plan G is the “new” most comprehensive coverage out of all the supplements.
Because of the Medicare Access and CHIP Reauthorization Act of 2015, those who turned 65 after January 1, 2020 cannot purchase Plan F because it covers Medicare Part B’s deductible.
However, Plan G covers 100% of all the cost-sharing responsibilities Medicare expects of you.
Medicare Supplement Plan G’s coverage
Plan G covers 100% of:
- Medicare Part A coinsurance payments for inpatient hospital care for up to an additional 365 days after Medicare benefits are exhausted
- Medicare Part B copayment or coinsurance expenses
- The first three pints of blood used in a medical procedure
- Part A hospice care coinsurance expense or copayment
- Skilled Nursing Facility coinsurance
- Medicare Part A’s deductible
- Medicare Part B’s excess charges
It also covers 80% of a foreign travel emergency.
The most comprehensive Medicare Supplement for new Medicare beneficiaries
For those who want Plan F but are not eligible because you turned 65 in 2020 or later, Plan G is the answer. The only thing you don’t get with Plan G that you would with Plan F is coverage for Medicare Part B’s deductible.
Even those who are eligible for Plan F may find the premium savings make Plan G the best bang for your buck.
When to enroll in Medicare Supplement Plan G
You can enroll once you have Medicare Part B. You will then have six months to enroll in a Medicare Supplement plan with no health questions. During this period, you cannot be turned down for any health conditions, be asked any medical questions, or be charged an additional premium for health reasons.
Technically, you can enroll at any time after you have Part B. However, if you sign up after your initial enrollment period, you will be subject to medical underwriting.