If you are looking for insurance options to help lower your Original Medicare out of pocket costs, Medicare Supplement Plan G in Wyoming might be a good choice.
What is Medicare Supplement Plan G in Wyoming?
In 2021, Medicare Plan G is quickly becoming the most popular of the 10 Medicare Supplement insurance plans. In fact, Medicare Supplement Plan G in Wyoming covers over 11,400 people out of the over 51,000 total lives covered by any Medicare Supplement plan.
Here’s why this is true:
- Of the 10 Medicare Supplement plans (A, B, C, D, F, G, K, L, M, and N), Medicare Plan G now has the highest benefit level for enrollees new to Medicare benefits as of January 1, 2020.
- Plan G coverage includes your share of medical expenses from the approved amount for medical services or medical equipment.
- Apart from the Medicare Part B deductible, Medicare Supplement Plan G in Wyoming pays coinsurance and copayments left by your Original Medicare benefits.
- Plan G also covers Medicare Part B excess charges, your first three pints of blood, and up to 50 000 in foreign travel emergency benefits.
- The Medicare Part G high deductible plan has the lowest premiums of all Medigap plans.
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 Wyoming..
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
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 Wyoming.
What is the Plan G Deductible in 2021?
In 2021, the Plan G deductible is $203.00.
What is the Monthly Premium for Medicare Supplement Plan G in Wyoming?
What you pay for your Medicare Supplement Plan G premium depends on where you live, who your insurance agent is, and how the company rates premiums.
Here are what the monthly Medicare Supplement Plan G rates for a 65-year-old female non-smoker living in the 82001 zip code of Wyoming would be:
- For Medigap Plan G with the annual Medicare Part B deductible of $203.00:
When you compare the four insurance companies that offer this plan in the Wyoming service area of 82001, the average monthly premium is $131.67.
- The Medicare Part G plan with high deductible with out of pocket expenses for the deductible of $2370.00: Two insurance companies carry this plan. The Medicare Supplement plan quotes average at $43.10 per month.
Your monthly costs also depend on how insurance companies determine premium rates. Here’s a look at the comparison
- Community-rated: The insurer charges the same monthly rate for each Medicare beneficiary, independent of age. This premium, not based on age, only increases for inflation or other factors.
- Issue-age-rated: The insurance agency bases premiums on your age when you purchase your plan. Medicare Plan G rates are lower when you buy at a younger age. Premiums do not increase with age but can increase for inflation or other reasons.
- Attained-age-rated: The monthly premium for your insurance plan is rated by your current (attained) age. The premium increases as you get older. Inflation and other factors can also affect price.
When can I enroll in Medicare Supplement Plan G?
1. At 65
When you meet Federal Medicare Program requirements and enroll in Medicare Part B, you can purchase a Medigap plan during your Open Enrollment Period (OEP). This is a six-month period that begins the month you turn 65 and have enrolled in Part B.
2. Older than 65 with insurance coverage
If you have group insurance when you’re 65 and put off enrolling in Medicare, you can do it when this coverage ends – without penalty. Then your OEP begins, and you can purchase a Medigap plan.
3. Switching from a Medicare Advantage plan to Original Medicare
If you have Medicare Advantage during your first year of Medicare, you can return to Original Medicare during that time. If you switch back, you can also purchase a Medigap plan.
Please note: the Annual Election Period (AEP) doesn’t apply to Medicare Supplement insurance enrollment. During the AEP, you can only join a Medicare Advantage plan with, or without, prescription drug coverage; or a Medicare Part D drug plan.
Some states have special enrollment rules unique to that state, so check your state’s rules and don’t miss your enrollment periods.
What Is the Difference Between Plan G and Plan G With a High Deductible?
Whether you sign up for the standard or the high deductible Medicare Supplement insurance Plan G in Wyoming, you get the same coverage. The difference is in your monthly out of pocket expenses.
- Standard Medicare Plan G does not have an annual out of pocket deductible. You only pay the Medicare Part B deductible. Some plans also include payment for your Medicare Part B premium.
- High deductible Medicare Plan G: carries an annual deductible of $2370.00 (in 2021). Premiums are generally lower than the standard plan.
What is the Best Medicare Supplement Plan G in Wyoming?
Plan G is standardized – meaning all plans have the same coverage, no matter which insurance company offers it. There may be a price difference though. When you are comparing companies, here’s what to look for:
- Customer service: Choose someone you can depend on. Know who you’re calling when you need assistance.
- The size of the company: Choose a company that is well-known and has long-term stability.
- Financial strength: The company’s assets should be strong; they must have the ability to pay claims.
Based on this criteria, our company prefers the following:
- Aetna rated 4.0
- Mutual of Omaha rated 4.0
- Cigna rated 4.0
- Florida Blue Cross Blue Shield (for Florida Residents)
Which is better, Plan F or Plan G?
How are Plan F and Plan G Different?
Plan F provides the most coverage of all Medicare Supplement insurance plans because it also covers the Medicare Part B deductible amount of $203.00 (2021). As of January 1, 2020, Plan F is no longer available for newly eligible Medicare enrollees. Plan G does not include the Part B deductible.
Is Plan G Cheaper than Plan F in Wyoming?
The average monthly cost for a standard Medicare Supplement insurance Plan G in Wyoming is $131.67. You also pay the annual Part B deductible amount of $203.00. Monthly expenses total at about $148.00.
The average monthly premium for Plan F in the United States is $180.00.
Comparing these average costs, Medigap Plan G is cheaper than Plan F.
Which plan should you choose?
Your Medicare eligibility affects your choice. If you are new to Medicare as of January 1, 2020, Plan G gives you the highest level of benefits available from any Medicare Supplement plan.
If you were eligible for Medicare before January 1, 2020, but did not enroll because you had other health insurance coverage, you have the choice of either plan. It may be worthwhile to do some calculating to see if your savings in monthly premiums outweigh the cost of the Part B deductible.
What is the Most Popular Medicare Supplement Plan in Wyoming for 2021?
For people who are new to Medicare, Medicare Supplement insurance Plan G in Wyoming is by far the most popular plan being sold by Medicare Supplement insurance companies.
Here are five reasons why:
- Medicare Supplement Plan G covers the most benefits of all plans available for those new to Medicare.
- Plan G offers great value when you compare benefits received vs plan cost.
- No network limitations: you have access to any doctor in the country who accepts Medicare. Plan G also pays your excess charges for Medicare Part B if you visit a doctor who doesn’t accept Medicare.
- Plan G is the most predictable because it fills in all the gaps to Medicare Part A and Part B, apart from the Part B deductible.
- Guaranteed Acceptance Coverage: If you enroll during your Open Enrollment Period, you avoid insurance underwriting, and acceptance is guaranteed.
Frequently Asked Questions about Medigap Plan G
Full Medicare Supplement Plan G Benefits Chart
Does Plan G cover prescription drugs?
No, Medigap plans don’t include drug plans.
Does Plan G cover the Medicare Part B Deductible?
No, Plan G does not cover the Part B deductible.
Does Plan G cover Medicare Part B Excess Charges?
Yes, Plan G pays Part B excess charges.
Does Plan G cover the Medicare Part A Deductible?
Yes, Plan G covers the Part A deductible.
Is Plan G worth it?
Plan G has the highest benefit level for people new to Medicare after January 1, 2020.
What is the difference between Plan G and N in Wyoming?
While Plan N covers the Part A deductible, inpatient copays, and coinsurance, you have a copay of $50.00 before coverage kicks in. Plan N doesn’t cover the Part B copay either. All of these are covered by Plan G.
Does Plan G cover dental?
Some companies have separate plan options for dental care.
What is Medicare Part G?
Commonly confused with Medicare Part G, Which does not exist, Medicare Plan G fills gaps like Medicare Part A coinsurance, Medicare Part A deductible, Medicare Part B coinsurance, foreign travel up to plan limits, and more.
Does Plan G cover Silver Sneakers?
Some insurers do offer membership to Silver Sneakers.
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.