What Is Medicare Part G?

Many people feel that standard Medicare policies don’t afford enough coverage to meet their insurance needs. As a result, people turn to Florida Medicare Supplement Plans, also known as Medigap Plans. There are 10 different Plans available and they are eligible to everyone enrolled in Medicare Part A and B.

They are standardized by the state which makes it easy to compare the benefits and prices for each. So one of the most common questions we receive is which Medigap Plan is the best. The answer to that depends on your coverage needs and your available budget. But one of the most popular is Plan G.

Florida Medicare Plan G

Medicare Plan G is popular because it covers almost all of the gaps. Some people consider it the Cadillac of all Medigap Plans.

As in all other Plans, you must pay the Part B deductible ($198 in 2020). But beyond that, Plan G pays first dollar coverage which means that Medicare will pay its share and then your Medicare supplement carrier will pay the rest. So, beyond the Part B deductible, you won’t have any out-of-pocket expenses.

It’s important to note that Plan F was very popular because in that Plan the Part B deductible payment was waived. However, as of 2020, Part F is no longer available. As a result, Part G which is identical to Part F with the exception of the Part B deductible, is now considered the most comprehensive Florida Medigap Plan.

Medicare Advantage Plans

It’s important to note the differences between Medicare Supplement Plans and Medicare Advantage Plans.

The Supplement Plans are policies available to purchase that work with Medicare Plans A and B to meet your medical insurance needs. Medicare Advantage Plans, also known as Medicare Part C, are private insurance policies that cover everything in Medicare Parts A, B and D (Prescription Drug Coverage) as well as other services. They are similar to private health insurance plans.  With most, services are covered after a small co-pay. Many Advantage Plans offer a Health Maintenance Organization (HMO) or a Preferred Provider Organization (PPO) network plan and place a yearly limit on out-of -pocket expenses.

And this limit on total annual expenses is one of the major draws to Advantage Plans over Supplement Plans.  In some instances, Supplement Plans will only pay up to a certain amount for long hospital stays leaving the possibility for large bills due afterward.

Determining which Plan best meets your needs can be a confusing and frustrating process. Visit https://www.davesilverinsurance.com for more information and call us today to schedule a no obligation consultation. We’ll walk you through all of your options and determine a Plan that best fits your budget.  We look forward to the opportunity to serve you.