Medicare Supplement Plan G provides full coverage after the Medicare Part B annual deductible $198 in 2020. This means that you don’t pay anything for hospital or doctors service that are Medicare approved after you meet the $198 annual Medicare Part B deductible, except in exceptionally long hospital stays.
What Does Plan G Cover?
Medicare Plan G covers Medicare Part A coinsurance and hospital costs (up to 365 days after Medicare benefits are used.) For example, if you are in the hospital for anywhere between one and 60 days as an inpatient, Medicare Part A will pay everything by the Medicare Part A deductible of $1,408. Medicare Supplement Plan G will cover the $1,408; therefore, you will have no out of pocket costs during the first 60 days as long as your care is medically necessary, you are admitted as an inpatient and the hospital accepts Medicare.
After day 60 in the hospital, Medicare Part A will pay and Medicare Supplement Plan G will pay the remaining.
Plan G will also help pay for the first 100 days of your care in a skilled nursing facility. Medicare Part A will pay for the first 20 as long as you initially spent three days in the hospital and were released into the skilled nursing facility. Days 21-100 Medicare Part A pays and Medicare Supplement Plan G pays.
In the doctor’s office, Medicare Supplement Plan G will pay the 20% coinsurance that Medicare Part B does not pay. Medicare Part B pays 80% of medical services.
Some doctors that participate in Medicare charge more than what Medicare says certain services are worth. Medicare allows these doctors to charge up to 15% more than Medicare’s listed rates. These doctors are doctors that don’t accept assignment with Medicare. Medicare Supplement Plan G will cover this additional 15% if the doctor charges it.
Plan G also offers Foreign Emergency Care. Medicare Parts A and B only provide coverage within the United States. Medicare Supplement Plan G will provide up to $50,000 worth of lifetime maximum coverage paying at 80% of reasonable and customary charges after a $250 deductible for the first 60 days of your trip.
All Medicare Supplement Plan G’s are standardized by Medicare, meaning that every company must cover the same benefits. The only differences are the company’s premium, customer service, and financial stability. Recently a few companies have begun adding a fitness benefits SilverSneakers and others as an extra ancillary benefit to their Medicare Supplement Plan G’s.