High Deductible Plan G
What Makes High Deductible Plan G Different
While Medicare covers a majority of healthcare costs, it still doesn’t cover everything. That’s where Medicare Supplement Plans come in. Medicare Supplement Plans, also called Medigap policies, are plans offered by private insurers to cover out-of-pocket expenses.
There are ten different templates that each plan is modeled on. Medigap Plan G is template number six. Plan G is slightly different from the other templates. It offers a High Deductible Option. While the actual coverage is identical to Plan G, the High Deductible changes when coverage kicks in. Learn more about the High Deductible version of Medigap Plan G below.
High Deductible Plan G is almost identical to the regular Plan G. The only difference is that your coverage for High Deductible Plan G only begins after you meet the deductible. In 2021, the deductible will be $2,370. In other words, you’re responsible for all costs up to $2,370 each year. Then, your insurance kicks in and pays. The details of coverage are below.
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Original Medicare vs. High Deductible Plan G
Hospital Inpatient Costs
Original Medicare
- Day 1-60 of an inpatient stay: Your annual deductible is $1,408 with coinsurance
- Days 61-90: your cost of coinsurance per day is $352
- After Day 90: you pay a lifetime reserve day of $704
Medigap Plan G
- Covers 100% of Medicare Part A coinsurance and hospital costs, up to an additional 365 days after Medicare benefits are used.
Part B Coinsurance
Original Medicare
- You’re usually expected to pay 20%
Medigap Plan G
- Covers 100% of Medicare Part B coinsurance or copayment.
Blood
Original Medicare
- If the hospital has to buy blood for you, you must pay for the first 3 units of blood you get in a calendar year
Medigap Plan G
- Covers 100% of the first 3 pints of blood.
Hospice Care Coinsurance/Copayment
Original Medicare
- You pay a copayment of up to $5 per prescription for outpatient prescription drugs for pain and symptom management.
- You pay 5% of the Medicare-approved amount for inpatient respite care.
Medigap Plan G
- Covers 100% Part A Hospice Coinsurance or copayment.
Skilled Nursing Facility (SNF) Care Coinsurance
Original Medicare
- Days 1-20 at SNF facility: no cost
- Days 21-100: you pay $176 per day.
- Day 101 and after: You assume all costs
Medigap Plan G
- Covers 100% SNF Coinsurance.
Part A Deductible
Original Medicare
- Annual deductible: $1,408 with coinsurance for days 1-60 of each benefit period.
- After Day 60: See Hospital Inpatient costs, above
Medigap Plan G
- Covers 100% of Part A Deductible.
Part B Deductible
Original Medicare
- In 2020, the deductible for part B was $198. After you meet your deductible, Medicare generally covers 80% of the cost and you cover 20%.
Medigap Plan G
- No additional coverage
Part B Excess Charges
Original Medicare
- No annual cap on out of pocket expenses.
- After you meet your deductible, Medicare generally covers 80% of the cost and you cover 20%.
Medigap Plan G
- Covers 100% of Part B excess charges.
Bonus: Up to 80% of coverage for a foreign travel emergency.
If you’d like more information or you need help choosing a Medigap plan, contact Modern Senior Benefits today.
