Original Medicare covers a variety of medical services such as visits to your physician and stays in the hospital. Despite this coverage provided by Original Medicare, there are still significant out-of-pocket expenses that you must still pay for, such as copays, deductibles, and the costs of office visits with your physician. Medicare Supplement Plan G, may pay for many of these additional services and provide more coverage than all other Medigap plans, with the only exception being Medicare Plan F.

What Does Medicare Supplement Plan G Cover?

If you have Original Medicare, you must still pay for:

  • All deductibles
  • Copays for doctor’s visits
  • Outpatient surgery
  • Tests and x-rays
  • Coinsurance for doctor’s visits.

In addition, Original Medicare does not pay for services like:

  • Preventative or routine dental care
  • The cost of hearing aids
  • The cost of cosmetic surgery

If the cost of your treatments and elective surgery such as plastic or cosmetic surgery is significant, and you decide to proceed with them despite your lack of insurance coverage, you may find yourself paying large co-pays and deductibles that are simply unaffordable.

What Specific Added Benefits Are Provided by Medicare Supplement Plan G?

There are many additional benefits provided by Medigap Plan G. These include:

  • Under Medigap Plan G, you are covered for a full year of hospital care coverage that begins when your Original Medicare benefits are exhausted. This coverage includes payment for all deductibles and for all coinsurance that is required by the hospital.
  • Under Medigap Plan G all copays and coinsurance payments for Medicare Part B coverage for all medically necessary services from your health care provider as well as copays and deductibles for all inpatient and outpatient services and durable medical equipment are fully covered.
  • Under Medigap Plan G, the first 3 pints of blood necessary for a blood transfusion are fully covered.
  • Under Medigap Plan G, 100% of Medicare Part A deductibles, copays or coinsurance for hospice treatments are also covered.
  • Medigap Plan G may not cover any of Medicare Part B deductibles.
  • Under Medigap Plan G, 80% of Foreign Travel Exchange is covered.
  • Under Medigap Plan G, 100% of Skilled Nursing Care in a Skilled Nursing Facility is covered.

What Are Some Differences and Similarities Between Medicare Supplement Part G and Medicare Advantage Plans?

Both Medigap Plan G plans and Medicare Advantage Plans are both purchased from private insurance companies. However, Medicare Advantage Plans differ from Medigap Plan G Plans in that they cover all costs involved with both Medicare Part A and Medicare Part B.

If you are covered by a Medicare Advantage Plan, you are not permitted by Medicare to purchase a Medigap Plan G Plan insurance unless you switch entirely to an Original Medicare Plan.

What is the Average Cost of Medicare Supplement Plan G?

The average cost of Medicare Supplement Plan G is usually between $500 and $2,000 per year.

While picking the best Medigap plan, be aware of the fact that Medigap premiums may vary in each state, in areas where beneficiaries are buying policies premiums are lower and higher when they are not. It may also depend on when beneficiaries buy the policy.