5 Things Covered in Medicare Plan G That You May Not Know

Medicare provides a variety of plans for you to consider for health coverage. Among the options is Medicare Plan G, and here are things that it covers.

Recent studies estimate the average senior will spend more than $100,000 on medical costs during their retirement. These estimates don’t include dental or vision, either.

Remember, this is only the average. Those who head into retirement with preexisting health conditions could end up spending double or triple that estimate. Depending on the condition, it could even be four or more times the average.

Living on a fixed budget means you don’t want to be spending hundreds of thousands in basic, necessary medical expenses. That’s why many seniors choose to use supplemental insurance plans like Medicare Plan G to help cover expenses.

But what is Medicare Plan G, and how does it work? What’s covered? Continue reading to learn everything you need to know.

What Is Medicare Plan G?

Medicare Plan G is the second most popular Medicare Supplement Plan, after Plan F. These supplemental plans are sometimes called MediSup or MediGap plans.

After a small annual deductible, Plan G provides gull coverage for all “gaps” in Medicare Plan A or Plan B policies. Gaps refer to areas where cover isn’t provided or, in some cases, where coverage is light and requires extensive copays or deductibles.

How Does It Work?

When you need to use your medical insurance, your primary Medicare plan will be used first. This will Medicare Plan A or B, depending on what you chose or what you’ve qualified for.

If you haven’t yet met your deductible with Medicare Plan G, you’ll need to pay out-of-pocket for certain costs. You’ll only pay up to your deductible annually, meaning a total amount throughout the year. This isn’t the same as a copayment, which needs paying at each visit.

Once the deductible is paid, Medicare Plan G will pay for all covered costs. After your supplemental plan is billed, it’s unlikely you’ll have any remaining costs.

Although most routine medical expenses will be covered, not everything will be. So, what’s covered? Below are five essential medical costs covered by Medicare Plan G that you may not know about.

Medicare Plan G vs Plan F

Many people are confused by whether they should choose MediGap Plan G or F. While these two plans are nearly identical, they have one significant difference.

The only difference between these two Medicare Supplement Plans is that Part G doesn’t cover the deductible from Medicare Part B. Plan F does. If Part B deductible coverage is something you’re looking for, you’ll want to choose Part F. If this isn’t an issue for you, Plan G is the better choice.

1. Inpatient and Outpatient Costs

Inpatient and outpatient costs often make up a significant amount of annual medical costs. While Medicare Plan A and B cover some of these expenses, the coverage is far from complete. Many people end up struggling to pay the large copayments they’re stuck with.

Medicare Plan G covers all inpatient and outpatient costs not covered by your primary plan.

Examples of covered inpatient expenses include:

blood transfusions
skilled nursing
hospice care

Examples of covered outpatient expenses include:

doctor’s visits (including specialists)
lab work
diabetes management and supplies
necessary medical equipment
imaging
ambulance rides
surgeries

These are only a few examples. Other things you may need could be covered, but it’s best to ask a Medicare Plan G provider for a complete list.

2. Foreign Travel Emergency Costs

Are you planning to travel the world during your retirement? Have you considered what might happen if you need medical attention when traveling in a foreign country?

If you have Medicare Plan G, emergency medical costs while traveling can be covered up to 80 percent of costs or $50,000.

This coverage is a great safety net that can help you keep from digging into your travel fund. It can also provide peace of mind during your travels, allowing you to fully enjoy the exotic locations you’ve waited so long to see.

3. Administered Medications

It’s crucial to know prescriptions aren’t covered by any Medigap plans except for the Part D Prescription Plan. If you spend a significant amount on prescription medications, you’ll want to get Part D for cost savings.

What Medicare Plan G does cover is administered medications.

Administered medications refer to anything you’re given in a clinical setting. For example, if you need to receive chemotherapy or injections for autoimmune diseases, these would be covered. Medications administered while you’re in the hospital would also be covered, as well as vaccinations.

4. Copayments

Several types of copayments and deductibles from your primary Medicare plan are covered by Part G. These include:

Copayments for Part A and B
Part A deductibles
Part B excess charges

Having these copayments covered can help seniors save significantly over a year. The total savings will depend on how often you visit your primary care physician, as well as the frequency of other medical care types.

5. Blood Transfusions

A blood transfusion can cost a lot of money, but people over age 65 are significantly more likely to need one after a surgical procedure. With Medicare Plan G, up to three pints of blood per year are fully covered.

Do You Have More Questions About What’s Covered by Medicare Plan G?

Medicare Plan G can help seniors cover medical expenses not covered by their primary insurance. The five things above are prime examples of what this supplemental insurance plan covers.

Do you have more questions about what’s covered by Medicare Plan G? Or about getting supplement insurance in general?

5 Things Covered in Medicare Plan G That You May Not Know