Medicare Supplement Plan G is one of the most popular supplemental insurance plans available to those eligible for Medicare. As the name implies, it covers a wide range of benefits that supplement those offered by Original Medicare (Part A and Part B). If you’re eligible for Medicare in 2023, here’s what you need to know about this plan and how it can benefit you.
What Does Plan G Cover?
Medicare Supplement Plan G covers a variety of out-of-pocket expenses related to Original Medicare, such as copayment, coinsurance, and deductible costs. Specifically, it covers 100% of the annual Part B deductible ($203 in 2023) and Part B coinsurance or copayments for hospital stays. It also covers skilled nursing facility care coinsurance, foreign travel emergency medical expenses, excess charges for doctors who don’t accept assignment under Part B, and more. All these benefits are provided at no extra cost to you when enrolled in a Medicare Supplement Plan G policy.
What Does Plan G Not Cover?
Plan G does not cover any expenses related to prescription drugs. If you need coverage for prescription drugs, you will need to enroll in a separate stand-alone Part D plan or sign up for an Advantage plan that includes drug coverage. Additionally, if you travel abroad often or wish to receive outpatient mental health care services outside the United States, this plan won’t cover those costs either; however, there are other supplemental insurance plans that do provide these types of coverage.
Who Is Eligible for Plan G?
In order to qualify for a Medicare Supplement Plan G policy in 2023, you must first be enrolled in both Original Medicare Parts A and B. You must be 65 years old or older and have no pre-existing conditions that would make you ineligible for coverage under the plan. You will also have to pay your monthly premiums on time each month or risk losing your coverage. Additionally, some states may have restrictions on who is eligible for this type of plan; check with your state’s department of insurance before signing up for any supplemental insurance policy to ensure that you meet all eligibility requirements.
If you are eligible for Medicare in 2023 and want additional protection against out-of pocket medical expenses associated with Original Medicare Parts A and B then consider signing up for a Medicare Supplement Plan G policy. This plan provides comprehensive coverage of many common medical costs not covered by Original Medicare including copayments/coinsurance amounts associated with hospital stays as well as excess charges from doctors who don’t accept assignment under Part B among other benefits. Be sure to research all eligibility requirements before signing up so that your application process goes smoothly!
Making an informed decision about supplemental insurance is key when selecting a plan like Medicare Supplement Plan G 2023. It pays 100% of covered medical costs after meeting your Part B deductible each year and offers a wide range of coverage options depending on what best fits your needs and budget. Be sure to consider all factors before purchasing any plan – including whether or not prescription drugs are covered – so you can get quality coverage at an affordable price point while also taking advantage of customer service support when needed!