Medicare Plan G – Know Your Facts
Senior citizens always dread the process of buying their Medicare plans and Medicare
supplement insurance. The apprehension is mainly because of the confusing options and
because of the diverse range of prices between one company to the other for the same exact
coverage. If you are in the process of buying your Medicare supplement plan g, you need to
first get your facts so that you are sure that you are making the right choices. If you are not
sure what exactly the plan covers then you are certainly not making a well-informed choice.
Here are some of the most important facts on the Medicare plan g coverage.
You need to sign up for your Medicare plan G during the open enrollment period. It will be
after the 6th month of enrolling Medicare part B. If you are enrolling for the first time for your
supplemental plan, you can directly enroll for part G. In case you should have other
supplemental plans running, you can change your supplemental part. You might also want to
consider switching the insurance carrier if it is going to get you a cheaper premium. The
switch can be made round the year once you are enrolled into the plan.
Try to review your supplemental plan G premiums every year and do comparison shopping.
As long as you are eligible for the supplemental plan you could benefit from switching.
Before terminating your existing policy, you might want to talk to an experienced Medicare
insurance agent so that you are not making the mistake of terminating your supplemental plan
on the last year and thereby lose your supplemental plan protection because you do not
qualify for new enrollment anymore.
Regardless of the insurance carrier you choose the plan coverage is fully standardized. You
do not have to therefore worry about losing the benefits. You will enjoy the same benefits as
long as you select the same supplemental plan letter. The variation will of course be in the
premiums. This is where shopping around is crucial so that you get the fullest benefits of the
supplemental plans at the most competitive prices.
In terms of coverage, Medicare supplement plan G will take care of most of the out of the
pocket expenses which your original Medicare fails to cover. You will however not be
covered for Part B deductible. When compared to the other parts Medicare supplement plan g
is the most comprehensive plan.
Medicare supplement plan G covers Part A coinsurance expenses which is not covered by
your original Medicare plan. Plan g also covers hospital expenses. You will also get foreign
travel emergency coverage up to 80%. If you should have any more question or doubts
regarding Medicare part G, it is best to talk to the industry experts before you start looking
for the right insurance plan and the right insurance company. Your insurance agent will also
be able to help you save money by finding the lowest premiums for you.