Medigap Plan G
2014 Medicare and Medigap Updates
Medigap Plan G
If you are looking for suitable options that will help you reinforce your basic Medicare plan, Medigap Plan G is certainly well worth serious consideration. By now, you would have known how Plans A and B in Medigap tend to be limited in providing adequate coverage for policy owners while the higher end plans tend to be too expensive and general in that they cover almost everything. Medigap Plan G presents one of the most attractive options that will allow you to target specific coverage areas at a reasonable price in that it offers coverage for hospitalization but allows you to pay the Part B deductible out of your wallet.
Among the benefits that one can enjoy from a Plan G policy are:
Coverage for skilled nursing facility care depending on the specific nature of the condition in question
Supplemental coverage for Part A deductible for hospitalization in basic Medicare
100% excess charge coverage for Part B Medicare
Medical emergency help for overseas travel
Free blood donation on the first 3 pints
Recent statistics show that prospective Medigap policy owners prefer Plan G because of the versatility that it offers. It comfortable sits in the middle of both Medigap coverage extremes so it covers much of the larger expenditures that are approved for Medicare. To date, it’s only known downside is that it does not pay for the residual 20% of Part B charges so policy owners are certainly expected to shoulder that portion of their coverage plans.
Given these benefits and the inherent advantages of Medigap Plan G, it is important to find the best offers to give you the most competitive policy costs. First, it helps to remember that all Medigap Plan G policies offer the same coverage, whether you are located in Maine or in California. From here, you can use the premium cost of the policy, as offered by health insurance firms, to determine which specific policy is the best for you.
You can compare prices online using websites that specialize in collating all the annual information offered by different providers in various states. It is very important to only compare in-state packages and to not expect the same coverage as with other states as the premium price is also dictated by socio-economic factors like salary averages, lifestyle choices, and risk factors inherent to certain states. You can focus on the premium prices as defined in your state and choose from the long selection of plans in your area.
Moreover, one should also be mindful of how the price of the different Medigap Plan G offers will change over the years. Some offers will be cheaper than others on Year 0 but this does not mean these plans are the cheapest when all is considered. Plans that are cheaper in Year 0 often increase dramatically in succeeding years. Make sure you do a quick calculation of the total costs over, say, a 10-year period so you have a sound basis for concluding that one plan is indeed more expensive than another for the same coverage.
The coverage offered by Medigap Plan G is advantageous for those who seek to be cost-conscious in their supplemental health insurance but are also sensitive enough to seek as much coverage as necessary. As long as you spend enough time looking at the options to find the one that suits your needs best, you should find tremendous value and benefit in choosing the best Medigap Plan G for you.