How Plan G Works
Medicare Plan G is not available as a standalone plan but instead offers additional benefits to supplement Part A and/or Part B. To understand how Plan G can assist you, it’s crucial to have a basic understanding of what Original Medicare covers.
In general, Medicare Part A covers hospital expenses, including but not limited to hospital care, skilled nursing facility care, and some aspects of home health care. However, the services partially covered under Part A vary, and individuals should not anticipate this plan to cover the entire cost of care. Part B functions similarly by assisting with medical charges such as primary care provider visits, durable medical equipment, and some lab testing. However, Part B does not pay for these expenses entirely but rather helps offset the total bill.
Plan G serves as a supplement that picks up the remaining costs of both medical and hospital expenses after Part A and Part B pay their portions. While this plan does not cover every expense every time, most Plan G enrollees often incur little to no out-of-pocket costs.
What Will You Pay For?
Whether you have a lot of upcoming medical expenses or you simply want the peace of mind that your bills are covered, Part F may be a perfect compliment to your Original Medicare benefits. Under this plan, the remaining costs left over from your Part A and Part B coverage are taken care of by Part F. While this supplement cannot guarantee 100% coverage every single time, most enrollees find that their out of pocket costs are virtually zero.
There are some stipulations associated with Part F, however, and one important factor to consider is that your Part B premiums will not be covered by this additional plan. Part F does bring its own set of premiums to the table as well, and these are all factors to consider before you enroll. Individuals who do not mind paying up front for services may find the high-deductible Part F plan to be the best fit for them, as this would result in lower monthly premiums.
What Will You Pay For?
Apart from the few instances where your Plan G coverage does not pay for Part A or Part B overages entirely, there are a few other scenarios where you may have out-of-pocket expenses. Part B typically includes a monthly premium that varies based on your income and tax status, which Plan G will not cover. Additionally, this plan does not pay for your Part B deductible, unlike Part F.
However, one advantage that individuals find appealing about Medicare Plan G is its ability to handle Part B excess charges. Physicians have their own charges for each service, and Medicare typically has fixed amounts that they will pay towards each billable service. The difference between the two amounts is usually what you need to pay, but Plan G covers these charges. It’s worth noting that Part F also pays for these fees.
In the end, those seeking comprehensive Medicare coverage and wishing to limit their out-of-pocket expenses may find Plan G worthwhile. As this plan does not cover the Part B deductible, monthly premiums may be lower than with Part F, but it’s essential to evaluate all cost considerations before choosing your supplement plans.
Our team is made up of compassionate, friendly individuals who understand the unique needs of older adults. We take the time to listen to your concerns and provide personalized solutions that work for you. We provide additional and detailed information on Medicare Health Plans and a no-cost plan comparison to determine if you qualify for additional benefits.