Medigap Plan G Supplement Insurance

Medigap Plan G is the most comprehensive Medicare Supplement plan currently available to people newly eligible for Original Medicare. It covers more out-of-pocket costs related to Medicare Part A and Part B than other Medicare Supplement plans.

You must be enrolled in both Medicare Part A hospital insurance and Medicare Part B medical insurance to purchase Medigap Plan G. You cannot purchase Medigap Plan G if you have — or are planning to buy — a Medicare Advantage plan.

Medigap plans are standardized in most states — meaning that Medigap Plan G policies in one state will include everything included in Plan G policies sold in other states. But not every insurer sells all Medigap plans.

Medigap Plan G is a possible option for people who are no longer eligible for Medicare Supplement Plan F, which used to be the most comprehensive Medigap plan.

You should compare Medigap plans available in your area before buying a policy. Make sure you find a plan that best fits your health and financial needs.

You will have to pay a monthly premium for your Medigap Plan G policy. How much you pay depends on several factors, including your state of residence and your age at the time you purchase a Medicare Supplement plan.

The cost of your monthly premiums can vary from one insurance company to another. These companies use several methods to set their rates.

Medigap Plan G high-deductible policies are also available in some states. These typically allow you to pay lower monthly premiums if you are willing to pay more out-of-pocket costs yourself.

In 2023, high-deductible plans require you to pay $2,700 in Medicare deductibles, coinsurance and copayments before your Medigap Plan G policy pays for any of your costs.

You should compare your annual premium payments against your potential Plan G deductible — and consider your health care needs — to determine whether a high-deductible policy is the best choice for you.