Medigap plans a great asset for seniors who need supplemental insurance to pay for what Medicare does not cover. Health care is expensive, and many find themselves trying to decide between Medicare Plan G and Medicare Plan G High Deductible.

Medicare Plan G and Plan G High Deductible are two of the many Medigap plans available to Medicare recipients. According to experts, there are many benefits to Medicare Plan G. Medicare Plan G pays for the Medicare Part A and Part B coinsurance and copays and any other gaps that Original Medicare does not cover. However, it does not cover the part B deductible – $226 in 2023.

The nice thing about Medicare Plan G is the fact that it pays for excess charges, which are often called balance billing. Some providers do not accept Medicare payment in full or Medicare Assignment. When this is the case, Medicare Plan G will pay for these charges. Medicare Plan G also pays for foreign travel insurance. This is very useful if you are traveling overseas and have a medical emergency. 

Medicare coverage is relatively limited and generally does not cover travel health insurance. However, by purchasing Plan G, you gain the ability to enjoy this type of coverage. Many people worry about out-of-pocket costs that they may be expected to pay. 

With Medicare Plan G, the only cost you have to worry about paying is your monthly premium. Medicare Plan G acts a lot like Plan F. However, Plan G does not cover your Medicare Part B deductible. Plan G is a supplemental policy. The cost of a Part B deductible was $226 in 2023, and even though you may have to pay the Party B deductible, Plan G is still the best supplemental option for seniors.

However, you are required to pay medical costs until your Part B deductible is met. After you have met your deductible, Plan G will pay for any medical costs that Medicare approves for the rest of the year. After you see a doctor or other medical provider, you will be responsible for meeting the deductible before your insurance kicks in.

However, if the bill you receive is not equivalent to the amount of your deductible, you will have to pay your medical bills in full until that deductible is met. If the bill you receive is not equal to your deductible, the remainder of your deductible balance will be applied to your next doctor or medical bill.  

If you meet your deductible and then require an unexpected hospital stay, you will not be responsible for the cost of your hospital stay. Your supplement insurance will pay for extra medical costs after your deductible has been met. Plan G does not require copays. Plan G is a good plan for those who visit the doctor on a regular basis.

Some seniors, primarily those who got Medicare Plan F before it was phased out continue to enjoy the benefits offered by Plan F. If you have Plan F, chances are that Plan G will benefit you as well at a lower total out of pocket cost than your current plan F. Although Plan F pays for your Part B deductible, the cost of Plan G is generally cheaper. Plan F typically has higher premiums. Medicare made changes in 2020, stating that newly eligible beneficiaries do not have the option to choose Plan C or Plan F. 

One of the biggest benefits of Plan F and Plan C is that they pay for your Part B deductible. So, what is a Plan G High Deductible? According to experts, a Plan G High Deductible works a lot like other Medigap plans in the sense that it works with Medicare Part A and B. Additionally, it fills in any gaps in Original Medicare.

Because Medigap plans do not have networks, you can use your coverage at any doctor’s office or medical facility that accepts Original Medicare. The deductible for Plan G High Deductible is $2,700 in 2023. However, that amount typically changes, so you may pay more year-to-year.  

With Plan G High Deductible, Medicare pays 80 percent of your medical expenses, and you are required to pay the remaining 20 percent until you meet your deductible of $2,700. Once you have paid your deductible in full, Plan G High Deductible functions exactly like a regular Plan G. Then, the High Deductible plan will pay for the 20 percent that Medicare does not cover. 

The deductible for Plan G “resets” at the beginning of each calendar year, experts say, so you have to meet the annual deductible. Much like other Medigap plans, insurers cannot cancel Plan G High Deductible, unless the monthly premium goes unpaid. You do not need to renew Plan G High Deductible, and there is no need to do anything during open enrollment periods. 

Plan G High Deductible comes with a number of benefits. High Deductible’s monthly premium is significantly lower than other Medigap plans. In fact, Plan G High Deductible’s monthly premium can cost up to $100 less than Medicare Plan G. However, the cost of premiums varies, depending on your age and state of residence, gender and tobacco use. 

The cost of premiums is also influenced by age and gender. Put simply, Plan G High Deductible is “easy to use,” according to 65medicare.org. There is no need to file or process claims. Medigap plans are standardized, so you will receive the same coverage and claims handling, regardless of which insurer you choose. However, rates vary significantly. 

In Bradenton, FL, you can expect to pay $67.77 per month, while those living in San Antonio, TX can expect to pay $31.82 per month. Someone who lives in San Francisco will have to pay $38.12 per month. But how does one enroll in the Plan G High Deductible program? There is a limited number of companies that offer the Plan G High Deductible plan, so it’s a good idea to shop around and compare rates; often, the choice is much more restricted than a traditional plan G. Some states have only three or four providers who offer the Plan G High Deductible plan. 

One of the key differences with the High Deductible plan is that you are liable for paying Part A and Part B deductibles until you meet the $2,700. You are also responsible for paying coinsurance. Why would you select Plan G High Deductible?

In some situations, the high deductible plan is the most cost-effective option, if you are healthy. The high deductible plan is popular among individuals who want to save money. However, if you develop a condition and decide to switch to a regular plan G, you may be denied coverage. 

However, you must ask yourself what would work best with your budget. Do you want a low monthly premium, despite paying $2,700 out of pocket, or would you want a higher monthly premium with limited to no extra costs? The answer to this question depends on your situation. In some cases, it is easier to go with the cheaper plan. However, it is important to consider your health needs and make an informed decision.

Who can get the high deductible plan?

Medicare Plan G became the premier option for seniors when Medicare Plan F and Medicare Plan C High Deductible were no longer available. Anyone who became eligible for Medicare after January 1, 2020 is eligible to get the Plan G high deductible plan. However, they cannot purchase the high deductible Plan F. Insurance companies are no longer required to offer Plan F. 

If you do not go to the doctor very often, Plan G high deductible may be a good option for you. Plan G High Deductible plans are good, but according to experts, you must consider your individual health needs before you enroll in a plan. It can be hard to choose a plan. If you are having a hard time finding the plan for you, you can meet with a Medicare agent who can help you.

Plan G High Deductible also covers hospice care coinsurance and copays. The monthly cost of Plan G High Deductible runs from $40 to $90, but monthly cost is often dependent on the insurance carrier. Monthly costs can also be determined by other factors, such as smoking status and your gender. 

The Plan G High Deductible Plan may be right for you if you travel outside of the United States on a regular basis. Unexpected medical emergencies can arrive quickly, and having access to doctors worldwide is a huge asset, especially for those who enjoy traveling the world. 

The High Deductible Plan may also be good for you if you live in a state that has Medicare excess charges. But what insurance carriers offer the High Deductible Plan? According to experts, a number of insurance companies offer the high deductible plan. These include Aetna, American Continental Insurance Company, Blue Cross Blue Shield, Cigna, and UnitedHealthcare; however, this is subject to your state. 

There may be cases where individuals with disabilities qualify for these plans. States offering these plans to the disabled include Colorado, Delaware, and Wisconsin.

Medigap Plan G High Deductible offers some of the best coverage of any Medigap plan. Because of this, it may be the ideal option for those who became eligible for Medicare on or after January 1, 2020. Neither one of these plans is better than the other. Both are beneficial and offer great benefits to seniors of all ages, backgrounds, and walks of life. 

4 Sources

MedigapCoverage has strict sourcing guidelines to ensure our content is accurate and current. We rely on peer-reviewed studies, academic research institutions, and medical associations. We strive to use primary sources and refrain from using tertiary references.

https://usamedicareplan.com/medicare-supplement-plan-g-what-does-it-cover/.

https://www.valuepenguin.com/cigna-medicare-supplement-review

https://www.humana.com/medicare/medicare-supplement-plans/plan-g.

https://65medicare.org/high-deductible-plan-g-considerations-and-cautions/.