Get free guidance and find a Medicare Supplement plan with CoverRight right now.

If you’re 65 or just about to turn 65, it’s time for you to sign up for Medicare. Medicare is not mandatory, but if you don’t want to face higher premiums later on, signing up around age 65 is required. Medicare is government-sponsored health insurance for those who otherwise may not qualify or cannot afford private insurance. However, some may need supplemental coverage, also known as Medicare Supplemental Plans, Medigap orMedicare Part G.

What is Medicare Part G?

Medicare comes in different parts:

  • Part A: Hospitalization – Covers everything from in facility to hospice and home care
  • Part B: Medical services – Covers doctor visits, emergencies, specialty treatments, medical equipment, occupational and physical therapy
  • Part C: Medicare Advantage plan – All-inclusive plan similar to preferred provider organization (PPO) or health maintenance organization (HMO) 
  • Part D: Prescription medication – Covers basic and generic medications

Medicare doesn’t cover everything. Medicare Part G, or Medigap, fills the holes and pays for health services Original Medicare does not.

What Does Medicare Part G Cover?

If you don’t have all the coverage you need, you’ll want the best Medicare supplemental insurance you can get. Medicare Part G fills in the gaps. Remember, Medicare isn’t free. You’ll need supplemental coverage to pay for many of the services regular Medicare does not. To qualify for Part G, you’ll need to have parts A and B as well.

Medicare Part G is sold through private insurance companies. What does it cover? 

For Medicare Part A, Medigap covers:

  • 100% of coinsurance and hospital costs after you exhaust your regular Medicare benefits. Coverage lasts up to 365 days. Remember — Medigap does have a deductible.
  • 100% of Part A deductible
  • 100% of hospice-care copayment and coinsurance

It does not pay for outpatient deductibles.

For Medicare Part B, Medigap covers:

  • 100% of copayment and coinsurance
  • 100% of excess charges
  • 100% of blood — up to the 1st 3 pints
  • 100% skilled-nursing facility (SNF) coinsurance 

Medicare Part G covers the $1,484 hospital deductible for SNFs, once per benefit period. Coinsurance pays at a rate of $185.50 per day from days 21 throug 100.

What Does Part G NOT Cover?

While Medigap is a helpful supplement to Medicare bills, it doesn’t pay for everything. Medicare Part G doesn’t cover:

  • Dental
  • Vision
  • Long-term care
  • Hearing aids
  • Private-duty nursing

Most plans don’t cover prescription medication, either.

While premiums vary from company to company, the benefits remain the same. 

What About Plan F?

Medicare Part F, also known as the “Cadillac plan,” covers everything Parts A and B do not. It ensures you never receive a bill for anything. As long as Medicare covers the service or item, Part F covers it as well. With Medicare Part F, there are:

  • No deductibles
  • No copays
  • No coinsurance

That’s why it’s called the Cadillac plan.

How is Part F different from parts B and G? It has no deductible. You pay nothing. One drawback — Part B deductibles are not very high, only around $200. But if you’re the type who can’t stand receiving bills in the mail for anything, then Part F is for you.

Like Part G, you purchase Part F through private insurance companies, only there’s a caveat: As of Jan. 1, 2020, Part F is no longer available to first-time Medicare recipients. It seems the small deductibles of Part B made many in Congress rethink the need for Part F. The quandary is: If going to the doctor is free, won’t people abuse it? Hard to say, but it led to tightening restrictions on access to Part F.

The good news is if you already have a Part F, you get to keep it. Those already signed up for Part F get to keep their coverage. Even better, if you were eligible for Part F before Jan. 1, 2020, but not yet enrolled, you may still purchase Medicare Part F coverage.

When is the Best Time to Buy a Medigap Policy?

Now that you know what Medigap is, the next question is when do you buy it? Let’s say you turn 65 in January. The best time for you to purchase a Medigap policy is from January to July, during your initial 6-month enrollment period. If you miss your initial enrollment period, premiums may be higher.

Moreover, if you miss your initial enrollment period, you may not be able to purchase a Medigap policy at all. During that time, all preexisting health conditions get waived. If you wait until later, you could be denied coverage because of preexisting health conditions. Remember, private insurance companies sell Medigap policies. As such, they reserve the right to deny you coverage after your initial enrollment period.

If you’re still on the fence over whether or not to buy a Medigap policy, you can buy a Medicare SELECT policy. This gives you the right to change your mind within 12 months and switch to a standard Medigap policy.

Best Medicare Part G Plan Providers

If you’ve decided that a Medigap policy is for you, the next question is where do you buy it? Have no fear — Benzinga is here. 

Mutual of Omaha Mutual of Omaha
get started Call Now securely through Mutual of Omaha’s website
Best For
Quick application process
N/A
1 Minute Review

Original Medicare may only cover 80% of your medical expenses. Apply online with ease with Mutual of Omaha in 3 easy steps. Get a quote, choose a plan and apply.

Mutual of Omaha offers 2 unique options for Part F enrollees: a high-deductible plan and standard Plan F coverage. When you select the high-deductible plan, you’ll pay less per month for your coverage — but you’ll need to pay $2,490 toward Medicare-related costs (like coinsurance percentages and copays) before your plan begins providing coverage. This can be a great option for anyone who’s in good health but wants to add another layer of protection to their Medicare coverage for less than the cost of a standard Plan F policy.

Best For
  • Quick application process
Pros
  • Quick claims process
  • Easy 3-step online application
  • Can bundle Medicare add-ons to Medigap coverage
Cons
  • Agents only available by phone
United Medicare Advisors United Medicare Advisors
get started securely through United Medicare Advisors’s website
Best For
Comparing Medicare Supplement quotes
N/A
1 Minute Review

United Medicare Advisors works with insurance carriers to help you sift through the options and find policies on the market. When you work with this company, you can expect to receive personalized service and up-to-date information. Though you won’t find pricing information directly online, United Medicare Advisors’ relationship with multiple carriers means you’ll be able to compare prices for a Medicare Supplement plan that is tailored to fit your needs. 

Best For
  • Comparing Medicare Supplement quotes
  • Saving money on policies
Pros
  • Personalized service and guidance from licensed sales agents
  • Licensed agents can help you review your options
Cons
  • Does not provide direct online quotes
  • No general pricing information on its website
CoverRight CoverRight
Compare Plans securely through CoverRight’s website
Disclosure: Only available to consumers in the following US states: Alabama, Arizona, California, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Michigan, Mississippi, Missouri, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington (State), West Virginia.
Best For
People 64+ who want the best Medicare Advantage or Medicare Supplement Plan
N/A
1 Minute Review

CoverRight simplifies this process of finding the right Medicare or Medicare Supplement plan, also known as Medigap. They’re a consumer-first platform helping Medicare-eligible people pick the best plans.

After completing a simple online form or phone call, a dedicated agent will prepare personalized quotes that make sense for you, whether it’s a Medigap policy or a Medicare Advantage plan. CoverRight’s agents can help you determine which plan makes the most sense for your budget and health care needs.

CoverRight has extensive customer service hours. It provides independent advice, and working with CoverRight is free.

Best For
  • Medicare-eligible people
  • People who want assistance choosing the right plans
Pros
  • Easy application process
  • Assistance in finding the right insurance plan
  • Help in finding an insurance plan that covers your doctors and medications
  • Concierge-style service with your own dedicated agent
Cons
  • Not available in every state
Aetna Inc Aetna Inc
get started securely through Aetna Inc’s website
Best For
Easy-to-understand coverage
N/A
1 Minute Review

Shop for Medicare Advantage and Supplement plans and more with Aetna. Benefit from a wide provider network and easy access to your benefits as well as hefty membership perks.

They offer premium-free, high-deductible plans for those looking to keep their monthly costs low. They also offer a host of spousal discounts.

Best For
  • Easy-to-understand coverage
Pros
  • Affordable premiums
  • Preventative care planner
  • Easy access to tools and resources
  • Wide network access
Cons
  • Need a referral for certain procedures and specialists
  • Premium-free plans not available everywhere
Cigna Cigna
Compare Quotes securely through Cigna’s website
Best For
Easy access to benefits
N/A
1 Minute Review

Maximizing your health benefits is easy when you purchase your policy through Cigna. When you enroll in any Medicare Supplemental insurance option with Cigna, you’ll have access to exclusive discounts — including savings on hearing aids, fitness club memberships and alternative medicine. You can even save up to 30% on weight and nutrition programs, which are commonly a cause for concern among seniors.

Easily shop and compare Medicare Advantage Plans, Part D Prescription Plans and Medicare Supplement Insurance. Cigna provides end-to-end assistance and provides plenty of member benefits at no extra cost.

Cigna’s plans also include access to the company’s Health Information Line. This feature allows you to connect with a health advocate who can provide you with answers to general health questions. The Health Information Line is available 24 hours a day and 7 days a week and is only staffed by men and women who have their nursing license.

Best For
  • Easy access to benefits
Pros
  • Home delivery for prescriptions
  • Health management mobile apps
  • Easy ID card replacement
  • No-cost members perks
Cons
  • Can have high deductibles
Humana Humana
Best For
Online discounts
N/A
1 Minute Review

Humana is a trusted provider of Medicare Advantage and Medicare Supplement plans alike. Save both time and money by shopping online — get a 6% discount if you enroll online.*

*Offer not available to California, Connecticut and Ohio residents.

Best For
  • Medicare Advantage and Supplement Plans
Pros
  • Medicare Parts A + B and Medigap plans available
  • 6% discount if you enroll online
  • Shop plans by ZIP code
Cons
  • Discount not available CA, CT and OH
Easy Medicare Easy Medicare
Get Started securely through Easy Medicare’s website
Best For
Getting help picking the right Medicare plan
N/A
1 Minute Review

While exploring options online might be convenient, sometimes a personal touch is needed to fully understand your options. EasyMedicare is an online Medigap comparison platform that provides you with both custom quotes and personalized assistance. You have the option to connect with a local representative and licensed agent who can help you explore your options.

EasyMedicare is a non-government resource you can use to learn more about your Medicare options with personal assistance.

In addition to providing you with free quotes from top Medicare providers, easyMedicare also allows you to connect with a live representative who can help answer your questions about enrolling in Medicare. If you don’t have time for a live chat, you can also explore Medicare options using the website’s comprehensive range of educational guides, resources and additional tools.

Best For
  • Medicare education
Pros
  • Highly rated on independent review site Trustpilot
  • Allows you to speak with a live representative
  • Extended customer service options
Cons
  • Does not offer any individual Medicare Supplemental coverage options itself

Do You Need a Medigap Plan?

The decision is up to you. While some like minimizing their potential out-of-pocket expenses, others prefer a pay-as-you-go system. For those in better health, the added cost of a supplemental plan like Medigap doesn’t make good financial sense. For those in need of more frequent medical services, it can make a big difference.

Remember, if you decide to get Medigap coverage, you MUST sign up during your initial enrollment period. If you don’t, you can face higher premiums and worse — you may not qualify for Part G. If you have preexisting conditions and wait too long, you may not be able to get coverage at all.

If you decide not to purchase a Medigap policy right away, make sure you’ve done your homework. If you’re still not sure, remember, you can still purchase a Medicare SELECT policy. This buys you time, as much as 12 months to decide whether a Medigap policy is for you. You cannot have both Medigap and a Medicare Advantage plan at the same time.

If you’d like more information on how to buy a Medigap policy, the federal government has some helpful information at Medicare.gov. Medicare.gov is the official and unbiased source when it comes to all your Medicare needs.

Frequently Asked Questions

Q

Is Medicare Part G worth the additional premiums?

1
Is Medicare Part G worth the additional premiums?
asked
A
1

It really is up to you and your personal situation. Are you healthy? Unhealthy? Do you make frequent visits to the doctor, or is the only doctor you see usually on TV. Every situation is unique.

 

If you do make frequent use of your Medicare insurance, then Part G is for you. Keep those pesky copays and in-hospital deductibles in their place. Remember, even if you don’t want it now, you may need it later on down the line. Don’t deny yourself the opportunity of getting Medigap at some later date because you decided not to get it now.

answered
Q

Is Medigap really the best Medicare supplement for you?

1
Is Medigap really the best Medicare supplement for you?
asked
A
1

Again, that depends upon your personal situation. If you have chronic illnesses and make more use of your healthcare, then a Medicare Advantage plan may be better for you. Medicare Advantage has caps on its out-of-pocket expenses that work better for more frequent users.

 

Medigap policies allow you more freedom of choice and saves you money if you do not use medical services as much. If you’re a senior who loves traveling, Medigap also offers coverage while traveling abroad where regular Medicare does not. Medicare Advantage offers similar coverage, but every plan is different and some may have limitations.

answered