High Deductible Medicare Supplement Plan G

High Deductible Medicare Supplement Plan G is a Medigap plan specifically designed to provide additional coverage for Medicare beneficiaries enrolled in Medicare Part A and Part B. With this plan, you will have an annual deductible that must be met before the plan kicks in to pay for certain medical expenses. The calendar year deductible amount is $2,800 for 2024.

How Does High Deductible Plan G Work?

When a person enrolls in this plan, they are responsible for meeting their annual deductible before the plan kicks in and covers certain medical expenses. After the $2,800 deductible is met, the plan will begin to pay for “coverage gaps” left by Original Medicare. HDG does not have provider networks. This means you can see any doctor or other healthcare professional who accepts Original Medicare and is willing to accept your plan’s payment terms.

What Are the Benefits?

Medicare Supplement High Deductible Plan G provides coverage for various things not covered by Medicare Part A and B once the deductible has been satisfied.

High Deductible Plan G covers, but is not limited to:

  • Inpatient hospital care
  • Medicare Part B Excess charges
  • Part A and B coinsurance costs after the deductible is met
  • Skilled nursing facility care
  • Doctor visits
  • Lab tests
  • Preventative care services
  • Ambulance services
  • Coinsurance for medical items such as durable medical equipment and prosthetic devices
  • Part of the cost of Medicare Part A deductibles and coinsurances
  • Foreign travel emergency health care services up to $50k per incident while traveling outside the United States
  • All or most of the costs associated with Medicare-covered hospital stays up to an extra 365 days after Medicare benefits have been exhausted

Who Is Eligible?

To be eligible, individuals must be currently enrolled in Medicare Parts A and B and be 65 years of age or older (or if under 65, are disabled and have been receiving Social Security Disability Insurance (SSDI) benefits for at least 24 months). Be sure to check with your state if you are under the age of 65 because there may be specific rules that affect your eligibility.

How Much Does High Deductible Plan G Cost?

Generally, the monthly premiums can range from $40 to $125 per month. However, the cost of High Deductible Plan G can vary depending on the provider and state you live in.

Here are several sample quotes from Aetna, Cigna, and Mutual of Omaha:

Company Premium Range
Aetna$55 – $125
Cigna $39 – $120
Mutual of Omaha$42 – $100
Premiums are based on Medicare Part B start date and or Medical underwriting.

How to Enroll

The best time to apply is during your Medigap Open Enrollment Period. This period begins on the first day of the month you turn 65 and will last for six months. You cannot be denied coverage or charged more due to pre-existing health conditions during this time.

It is essential to note that if you obtain a policy outside of open enrollment, it may cost more than received during the initial enrollment period and have fewer benefits available compared to policies purchased during open enrollment. Once your six-month open enrollment period ends, obtaining a Supplement plan may be difficult unless an insurance company in your state offers guaranteed issue rights. (Guaranteed issue means that insurance companies must provide you with a policy without considering any medical conditions that may increase the risk to them as long as specific requirements are met.)

In some cases, these requirements can include evidence of prior continuous creditable coverage or be enrolled in Part A and Part B of Medicare.

How to Find a Medicare Supplement Plan That Fits Your Needs

Start by determining what level of coverage you need and what services are covered by each Medicare Supplement plan. In addition, it would be best to consider your medical needs when researching Medicare plans, as different plans may cover other medical expenses.

When choosing a Medicare Supplement plan, it is also essential to consider if there are any additional benefits or extras that could be helpful for your situation. These could include vision care discounts, hearing aid discounts, additional prescription drug coverage plans, or access to health services. Depending on your specific medical needs and lifestyle factors such as age or pre-existing conditions, these might be beneficial.

Finding a plan that fits your needs can be complex. Still, with research and careful consideration, it is possible to find a plan that provides adequate coverage and excellent customer service at an affordable price.

Frequently Asked Questions:

What Is the Difference Between Plan G and High Deductible Plan G?

The main contrast between Plan G and High Deductible Plan G is that with the former, you only have to pay your standard Medicare Part B deductible of $240. annually. However, for the latter, the annual deductible increases to $2,800 before any Medicare insurance coverage applies. The increased amount for the high-deductible option correlates directly to lower premiums overall.

Is High Deductible Plan G Worth It?

High Deductible Plan G can be worth it if you know you will require medical care during the year due to age or pre-existing conditions that can add up quickly without insurance protection. It might also be worth considering if you have enough savings set aside to cover your deductible should it become necessary, as it could save you thousands of dollars in out-of-pocket expenses down the road (compared to not having a Medigap plan at all).

Next Steps

We specialize in guiding Medicare beneficiaries through their Medicare insurance options. We work with some of the nation’s top-rated Medigap carriers so that you can be sure you’re getting the best possible service. Take a deeper look at the plans by reviewing our Medicare Supplement Plans Comparison Chart. Additionally, you can give us a call today to learn more or request a quote online.

Article Resources:

Average quotes are for sample purposes only. Actual premiums are based on several factors, including health conditions, age, location, tobacco status, gender, and insurance provider.

Mark Prip

For more than two decades, Mark Prip at My Medigap Plans has been an authority figure in the insurance industry and continues to uphold a mission to provide customers with comprehensive information about Medicare, life, and dental coverage. In addition, his expertise is unmatched - having helped thousands of Medicare beneficiaries choose suitable healthcare plans for themselves - making him stand out above competitors.