Minimizing out of pocket costs from the federal Medicare program is easy with Medicare Supplement Plan G in Alaska. Beneficiaries pay one monthly premium to eliminate coinsurance, copayments, and other medical expenses that aren’t covered by Original Medicare. You can simplify your health insurance and extend your benefits with Medicare Supplement Plan G in Alaska.
What is Medicare Supplement Plan G in Alaska?
In 2018, there were more than 16,000 Alaskans covered by Medicare Supplement insurance plans. More than 1,700 of those beneficiaries were enrolled in Plan G. Now that Plan F is unavailable for new Medicare beneficiaries, the percentage enrolled in Plan G will continue to rise.
Here’s what you need to know about Medicare Supplement insurance Plan G in Alaska:
- A Medicare Advantage plan will replace Original Medicare, but a supplemental plan enhances the original coverage.
- Once you turn 65 and are eligible for Medicare, you’re also eligible for Medigap Plan G benefits.
- When a beneficiary receives medical services or medical equipment, Medicare Part A and Part B pays up to plan limits first. The remaining medical expenses are covered by Medicare Supplement insurance.
- Medicare Plan G covers all coinsurance, copays, excess charges, and the Medicare Part A deductible. It will also pay for foreign travel emergency care up to an approved amount.
- You can enroll in Plan G through a Medicare-approved insurance agency.
- Medicare.gov is an excellent resource if you want to know more about how Medicare Supplement insurance plans work.
What Does Medicare Supplement Plan G Cover?
Original Medicare pays for a lot when it comes to your healthcare. On top of the Medicare-approved amounts that are covered by the Federal Medicare program in the United States, you can enjoy having these additional Medicare benefits covered if you sign up for Medicare Supplement Plan G in Alaska.
But here’s what Medigap Plan G will cover:
· Initial pints of blood
· Medicare Part A deductible
· Medicare Part A hospital costs
· Part A expenses
· Part A hospice care coinsurance
· Skilled nursing facility care
Medicare Supplement Insurance plan G benefits also pay these Medicare Part B costs:
· Charges over the amount Medicare allows – “Part B Excess Charges”
· Durable medical equipment
· Foreign travel emergency care (lifetime plan limits apply)
· Medicare Part B coinsurance and copays
Be advised that the Part B deductible will not be covered by Medigap Plan G in Alaska.
What is the Plan G Deductible in 2021?
There is no deductible for Medicare Plan G. Enrolled beneficiaries are required to pay the Medicare Part B deductible out of pocket, which is $203 for 2021.
What is the Monthly Premium for Medicare Supplement Plan G in Alaska?
What would you pay per month for a supplemental insurance policy that covers Medicare Part A coinsurance, Medicare Part B coinsurance, and other out of pocket expenses except for the Medicare Part B premium and deductible? The answer depends on your location, age, tobacco use, and other personal factors.
For example, we secured Medicare Supplement plan quotes for a female nonsmoker aged 65 and living in Alaska zip code 99501. That resulted in the following Medicare Supplement Plan G rates:
- Monthly Premium Range – $116 – $145.73
- Average Monthly Premium – $130
Medicare insurance companies have three options when determining rates for Plan G coverage:
- Community Rated – Plan rates are the same for all enrolled beneficiaries.
- Attained Age – Each beneficiary receives a rate based on their current age. Premiums increase with age.
- Issue Age – Beneficiaries are quoted rates based on their age at the time of application. Older beneficiaries tend to pay more.
When can I enroll in Medicare Supplement Plan G?
Medicare’s annual enrollment period is limited to Medicare Advantage and Medicare Part D plans. To receive the best Medicare Plan G rates, you need to enroll during your Open Enrollment Period. It starts the first day of the month that you turn 65 and sign up for Medicare Part B. It lasts for six months.
When you enroll during your Open Enrollment Period, you enjoy eligibility for the following guaranteed issue rights:
- Guaranteed acceptance. The insurer is required to accept your application for Medicare Supplement insurance Plan G in Alaska during this period.
- Guaranteed policy continuation. The insurance company cannot cancel your policy as long as you live within their service area and continue to pay your monthly premiums.
- Guaranteed fair rating. Insurance companies cannot use medical underwriting to increase your rates. Pre-existing conditions aren’t a factor.
If you have medical coverage through an employer at the time you enroll in Medicare Part B, you should qualify for a special enrollment period with the same guaranteed issue rights once you lose that coverage. There are other reasons you may qualify for guaranteed issue rights after your initial enrollment period closes.
You can apply for Medigap coverage at any time. The insurance company may deny your coverage or base your rates on your medical history if you apply outside of the initial enrollment period.
What Is the Difference Between Plan G and Plan G With a High Deductible?
Medigap Plan G and the high deductible plan vary only in the deductible. There is no deductible for the standard plan, so you can access benefits immediately. The high-deductible plan requires you to pay the full deductible amount each year before accessing benefits, including up to 50 000 in foreign travel emergency benefits.
What is the Best Medicare Supplement Plan G in Alaska?
The federal government standardizes the Medicare benefits offered by Medicare Supplement Plan G in Alaska. That means all beneficiaries receive the same coverage regardless of insurer. That leaves Medicare Supplement insurance companies to compete through rates, but you should consider the following factors in addition to pricing:
- Financial Strength. You trust your insurance company to pay all benefits on time and according to plan terms. That is only guaranteed by financially stable insurance companies.
- Long-Term Stability. The history behind an insurance agency delivers a solid foundation for consumer trust.
- Excellence in Customer Service. Trustworthy insurance companies make it easy for customers to contact them with concerns and questions.
Based on those points, there are three Medicare insurance companies that we highly recommend for Alaska beneficiaries. They’re listed here along with their A.M. Best ratings.
- Mutual of Omaha – A+ (Superior)
- Cigna – A (Excellent)
- Aetna – A (Excellent)
Which is better, Plan F or Plan G?
How are Plan F and Plan G Different?
Plans F and G offer the same coverage except Plan G excludes the Medicare Part B deductible. That makes Plan F the most comprehensive Medicare Supplement plan, but it’s not available to beneficiaries eligible for Medicare Part B on or after January 1, 2020.
Is Plan G Cheaper than Plan F in Alaska?
Yes, Medigap Plan G is cheaper than Plan F. You should compare rates for both plans if you’re eligible for both. Plan G is sometimes the most affordable plan even after paying the Medicare Part B deductible out of pocket.
Which should I choose?
If your Original Medicare start date was before January 1, 2020, you should select the plan that makes the most financial sense. You determine that by comparing rates for both plan options, factoring in the cost of the Medicare Part B deductible for Plan G. Our Policy Guides or a licensed insurance agent can help you secure accurate quotes.
If your Original Medicare start date was after January 1, 2020, you aren’t eligible for Medigap Plan F. Your best option for comprehensive coverage is Plan G. Plan is another option, but it doesn’t include the Part B deductible or excess charges.
What is the Most Popular Medicare Supplement Plan in Alaska for 2021?
The most popular Medigap plan for new Medicare beneficiaries is Medicare Supplement insurance Plan G in Alaska. There are five reasons a comparison of all plan options may lead a Medicare beneficiary to select Plan G.
- It offers the most comprehensive coverage for beneficiaries ineligible for Plan F.
- It covers most of Medicare’s gaps, including foreign travel medical care and Medicare Part B excess charges. It delivers a lot of value for the monthly premium.
- It makes health insurance more predictable by eliminating out of pocket costs almost completely.
- All beneficiaries are guaranteed acceptance when applying during their Initial Enrollment Period.
- There are no networks. Beneficiaries can see any medical provider accepting Medicare. That includes provides out of state.
Frequently Asked Questions about Medigap Plan G
Full Medicare Supplement Plan G Benefits Chart
Does Plan G cover prescription drugs?
Medicare Plan G doesn’t include a drug plan. You can sign up for Medicare Part D prescription drug coverage when you enroll in Medicare Part A and Part B.
Does Plan G cover the Medicare Part B Deductible?
Medicare Supplement insurance Plan G in Alaska doesn’t cover the Part B deductible.
Does Plan G cover Part B Excess Charges?
Medicare Supplement Plan G covers all Medicare Plan B excess charges.
Does Plan G cover the Medicare Part A Deductible?
Medicare Plan G does cover the Medicare Part A deductible.
Is Plan G worth it?
Medicare Plan G is an excellent health insurance policy if you can afford the monthly premium and want to eliminate as many out of pocket expenses as possible. The high deductible plan is available if you can afford some out of pocket costs during the first part of the year and want to minimize monthly payments.
What is the difference between Plan G and N in Alaska?
If you’re looking for the most comprehensive Medigap insurance plan, the best option is Medicare Supplement insurance Plan G in Alaska. Plan N offers the same coverage but doesn’t cover Medicare Part B excess charges and has copays for doctor’s visits and Emergency room, so it’s less comprehensive.
Does Plan G cover dental?
Medigap Plan G doesn’t include dental coverage.
What is Medicare Part G?
There is no Medicare Part G. The term “part” refers only to Original Medicare policies. Medigap Plan G is a supplemental policy that was not a part of the original coverage, so it isn’t referred to as Medicare Part G.
Does Plan G cover Silver Sneakers?
No. Medigap Plan G doesn’t include Silver Sneakers coverage.
Ready to learn more?
My Medigap Plans is a rapidly growing resource for Medicare beneficiaries. We specialize in educating consumers on their options and guiding them through the process of plan selection. We work closely with some of the nations top rated carriers such as Aetna, Cigna and Mutual of Omaha. Compare our list of the 10 Best Medicare Supplement Insurance Companies or take a deeper look at the plans by reviewing our Medicare Supplement Plans Comparison Chart. Learn more or about Medicare Part D Prescription Drug plans, or request a Medicare Supplement Plan Quote.