Medicare Supplement Plan G in New York is quickly becoming the state’s most popular Supplement Plan.
Of the 10 standardized Medicare Supplement policies (A, B, C, D, F, G, K, L, M, N), Medicare Plan G has the highest level of Medicare benefits for those new to Medicare after January 1, 2021.
Medicare Supplement Plan G in New York is a good choice of plan options for seniors who need help with out of pocket costs.
The costs include copays for medical services, Medicare Part A coinsurance, Medicare Part B coinsurance, durable medical equipment, and other medical expenses.
Aside from the small part B deductible, it fills in all the gaps to Original Medicare (Medicare Part A and Part B), the Federal Medicare Program.
- Almost 3.7 million New York residents are enrolled in Medicare insurance plans (19% of the population)
- At least 481,178 New York residents have Medicare Supplement Plans
- Of those enrolled in Medigap plans, 11,213 people chose Medicare Supplement Insurance Plan G in New York
- About 44% of Medicare enrollees in New York have Medicare Advantage Plans
- Only 12 Medicare Supplement Insurance Companies provide Medigap policies
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 New York.
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 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 New York.
What is the Plan G Deductible in 2021?
There is no Plan G deductible, but the Plan B deductible is part of the out of pocket expenses. The Part B deductible amount in 2021 is $203.
What is the Monthly Premium for Medicare Supplement Plan G in New York?
Unlike the fixed-price Medicare Part B premium, Medicare Supplement Plan G monthly premiums in New York vary with the geographical location and the insurer.
With Medicare Supplement Insurance Plan G in New York, monthly premiums are not based on the applicant’s medical condition or age.
Looking at one example, a 65 year old female, non smoker, living in New York, New York (10023) would pay $268 per month (lowest price) up to $545 per month (highest price).
The reason for the wide fluctuation in cost is the three different ways insurance companies determine premium amounts.
- Community rated: Everyone pays the same price without regard to age or health condition
- Issue age: The monthly premium amount will be based on age at purchase but will not go up with advancing age
- Attained age: Premiums will be based on age at purchase and will increase as the beneficiary gets older
When can I enroll in Medicare Supplement Plan G?
Typical Enrollment Periods:
- Initial Enrollment Period (IEP) Three months before 65th birthday and three months after 65th birthday – Best time to enroll in Medicare Supplement Plan
- Annual Election Period (AEP) from October 15 to December 7 — Not for Medicare Supplement Plan enrollment (Only Medicare Advantage and Medicare Part D Prescription Drug coverage)
- Open Enrollment Period (OEP) January 1 to March 31- Not for enrolling in Medicare Supplement insurance plans
New York residents can enroll in Medicare Supplement Insurance Plan G in New York any time, year-round. The usual enrollment period restrictions do not apply.
What Is the Difference Between Plan G and Plan G With a High Deductible?
Medigap Plan G offers the most comprehensive coverage in Medicare Supplement Plans. Plan G coverage fills all the ‘gaps’ left when Original Medicare pays the approved amount except one.
The annual Medicare Part B deductible, which is $203 n 2021, will be an out of pocket cost.
Medicare Plan G also offers a high deductible plan. HD Plan G requires a higher yearly deductible. In 2021, the amount of this deductible is $2,370.
After the deductible is met, HD Plan G provides full coverage.
What is the Best Medicare Supplement Plan G in New York?
Because Medicare Supplement Plan G in New York is standardized, every Medicare Plan G policy has the same benefits regardless of insurance company. The price will vary depending on the service area and health insurance provider. Here is what to know when shopping:
- Customer Service: Know who you are calling when you need help
- Size Matters: Choose an insurer with long-term stability
- The Company’s Financial Strength: Review their assets and ability to pay claims
Our Company Recommendations
We can offer virtually any company, however based on the above criteria we prefer the following 3 companies.
Aetna – After 160 years in the insurance business, Aetna enjoys a 4-star customer-service rating and an A+ rating with the Better Business Bureau.
Mutual of Omaha – In business since 1909, Mutual of Omaha boasts a high customer-service rating of 4.5.
Cigna – Maintains an A+ rating with the Better Business Bureau with an overall customer-service rating of 2.5 stars.
Which is better, Plan F or Plan G?
How are Plan F and Plan G Different?
Medicare Plan F offers 100% coverage and was the most popular Medigap Plan. On January 1, 2020, Medicare regulations suspended payment of the yearly Plan B deductible by Medigap plans.
Medicare Plan F was no longer available to a new Medicare beneficiary after that date.
Medicare Part G has blossomed in popularity because it is the most comprehensive Medicare Supplement Plan for those whose eligibility for Medicare begins after January 1, 2021.
Medigap Plan G covers everything except the Medicare Part B deductible.
Only Medicare Supplement Plan G covers the Medicare Part B excess charges.
Medicare Part N is very close to Medicare Supplement insurance Plan G in New York, but it does not cover the Medicare Part B excess charges.
Is Plan G Cheaper than Plan F in New York?
Medicare Supplement insurance Plan G in New York charges lower monthly premiums than Plan F. It is worthwhile to ask your insurance agent for Medicare Supplement plan quotes and then do the math. Find out how Medicare Plan G rates compare to Plan F.
Medicare Supplement Plan G rates will vary depending on insurer and service area.
Which should I choose?
Those New to Medicare prior to January 1st, 2020 will continue to have the choice of either plan.
Oftentimes the savings in monthly premium outweighs the cost of the Part B deductible required by Plan G.
For those New to Medicare after January 1st, 2020, Plan G will be the highest level of benefit available in a Medicare Supplement Plan.
What is the Most Popular Medicare Supplement Plan in New York for 2021?
The most popular Medicare Supplement Plan for new Medicare beneficiaries in New York is Plan G.
Five reasons why Plan G is the most popular:
- Medicare Plan G has the best level of coverage available to new Medicare enrollees
- Comparison of benefits received (like coinsurance and copayments) vs cost of plan reveals great value
- Access to any doctor in the country that accepts Medicare – No network limitation
- If the doctor does not accept Medicare assignment, Plan G will pay the “Excess Charges” for Medicare Part B
- Guaranteed Acceptance Coverage – As with all Medicare Supplement Plans, if you enroll during your Initial Enrollment Period when new to Medicare, there are no health questions required (no underwriting). Your acceptance is guaranteed
Frequently Asked Questions about Medigap Plan G
Full Medicare Supplement Plan G Benefits Chart
Does Plan G cover prescription drugs?
Medigap Plan G does not cover Prescription Drugs. A drug plan can be purchased separately.
Does Plan G cover the Medicare Part B Deductible?
No, the Part B Deductible is not covered.
Does Plan G cover Medicare Part B Excess Charges?
Yes, Plan G covers Part B Excess Charges.
Does Plan G cover the Medicare Part A Deductible?
Medigap Plan G covers the Medicare Part A Deductible.
Is Plan G worth it?
When comparing benefits received with the cost of the plan, Medicare Part G coverage is a good value for the money.
Lower premiums than Plan F offset the cost of the required Plan B deductible, and the plan covers all other Original Medicare gaps including the Part B excess charges.
What is the difference between Plan G and N in New York?
The benefits of Medicare Part G and Plan N are the same except that Medicare Part G covers the Part B excess charges and Plan N does not.
Does Plan G cover dental?
Plan G does not cover dental benefits.
What is Medicare Part G?
Medicare “Part G” does not exist, it is commonly confused with Medicare Plan G is the most comprehensive and popular Medicare Supplement insurance available to people who become eligible for Medicare after January 1, 2020.
It offers benefits for foreign travel up to the plan limits – up to $50,000 in foreign travel emergency benefits
Does Plan G cover Silver Sneakers?
Silver Sneakers is available with Medigap Plan G, but an additional premium might be required.
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.