15.3 C
Manchester
October 26, 2021
Keuka Health
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Health

An overview of the Medicare supplement plan G

You may know that health is wealth for everyone. However, if you are not wealthy, your health will be doubtful. Most of us will not have enough income during our old age days to cover our medical expenses. However, the risks of diseases will be more only at this age. Let us assume that you are aged 66 and you do not have any source of income. Would you still be able to cover your medical expenses? If you have a health insurance plan, you can. Fortunately, the government organizes an insurance program for the elderly above 65. It is termed Medicare which comes with four types namely Plans A, B, C, and D. Although these plans will account for the majority of your medical expenses, you may still be left with several additional costs to cover. Mostly, you will not have enough money to pay for this or you may be wishing to get the insurance that covers them too. You have such an opportunity where your insurance company itself covers the majority of these additional expenses also. All you should do is to choose a Medigap plan like plan G or N in addition to your main plan. There will always be a debate on Medicare Plan N vs Plan G due to their coverages and exceptions. You have the liberty to choose whatever you want. However, it is better if you know everything about each plan before choosing one. Let us discuss plan G in brief in this article.

Eligibility criteria

Not everyone can get the benefits of Medicare plan G. It is necessary to meet the necessary eligibility requirements to get it. The two basic criteria to avail of Medicare plan G are as follows,

  • Your age should be something higher than 65.
  • You should have the original Medicare membership already and should be paying the monthly premiums.

Getting the plan

  • At first, you would have to enroll yourself in any of the original Medicare plans like part A and part B.
  • Afterward, you should do some research to find the available insurance providers in your locality who would offer plan G to the locals.
  • You can compare the costs of the plan as it will vary from one insurance company to another.
  • You can choose the best one and can start paying the monthly premiums.
  • The insurance company will cover the extra medical expenses promised by plan G in case of emergencies.

Differences in premiums

As you would know, a specific monthly premium is required to maintain the G plan with an insurance provider. However, there will not be a standard premium amount followed by all providers. You would have to get the plan at one premium from a particular provider and would have to go with another premium if the provider changes. For instance, you will pay something between $198 and $400 for the same plan. Your age, health condition, gender, and location may change the premium levels. There will be several other factors that alter the premium amount.

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