Texas Medicare Plan G
Medigap Made Easy
Texas Medicare Plan G – Part G
Medicare Plan G is now considered the “Cadillac” plan since Medicare Plan F is no longer available to those who are eligible for Medicare after January 1, 2020.
Medicare Plan G coverage is similar to Plan F. It offers great value for beneficiaries who are willing to pay a small annual Part B deductible.
Other than the Medicare Part B deductible the Plan G provides full coverage for all of the gaps in Medicare. It pays for your hospital deductible, copays, and coinsurance. It also covers the 20% that Part B doesn’t cover.
Ashford Insurance offers a selection of Texas Medicare Supplement Plan G’s in from many top carriers including UnitedHealthcare® Medicare Solutions.
Texas Medicare Supplements are standardized by the Federal Government. They are labeled A, B, C, D, F, G, K, L, M, and N. Each standardized Medigap policy must offer the same basic benefits no matter which insurance company sells it. Cost is usually the only difference between Medigap policies with the same letter sold by different insurance companies. Plan A pays the Medicare hospital and physician coinsurance, the first three pints of blood, and 365 days of hospitalization beyond Medicare. Plans B through N provide these benefits and add more benefits such as coverage for Medicare deductibles, excess charges and limited preventive care, and foreign travel. You can only have one Med Sup plan. No one should try to sell you an additional Medsup plan unless you decide you need to switch policies.
TX Medicare Supplement Insurance Plan G
This particular Medigap plan is one that offers most of the same benefits as that of Plan F. There’s one exception, however, it does not cover the deductible for Medicare Plan B. What this means is that should you go with Plan G you’ll still need to pay the yearly standard Part B deductible. That deductible in 2019 was $185. So, if you don’t mind paying for this amount that is deductible, Plan G could be a good option to consider when it comes to supplemental plans with good benefits. For a free quote on a Plan G call us today!
You need to know they are the only two Medigap plans that do this and that both these plans do cover all excess charges that will accrue with Part B Medicare. These excess costs would be the actual difference between what a doctor charges for their medical service and what the Medicare amount that is approved is. These professionals are considered to be non-participating providers and they’re allowed to charge as much as 15% more than what Medicare allows to get a certain covered medical service. This extra amount is what the patient would be anticipated to pay from their own pocket.
Open Enrollment for Texas Medicare Supplement Insurance is at age 65 for all consumers, including those already receiving Medicare due to disability. The Open Enrollment period is a six-month period, beginning when you are both age 65 or older and enrolled in Medicare Part B, companies must sell you any Medicare supplement plan they offer. After this limited open enrollment period, companies can pick and choose whom they will cover and how much they will charge based on your health. If you have an individual or “bank group” insurance policy, becoming Medicare eligible does not require you to cancel it and purchase a Medicare supplement. Doing so may save premium costs but it is important to compare benefits before deciding which will work best.
If you are eligible for employer retirement insurance, review the plan carefully to understand what benefits are available and how it works with Medicare. Be aware that employer plans are not standardized and are not subject to the requirements governing standardized Medicare supplement policies. Also, it is important to remember, if you leave an employer plan you may not be able to go back on it.
If Medicare Supplement G is considerably less expensive than Plan F in your area, then it makes sense to purchase it. You will pay the Part B deductible once per the calendar year, but the annual savings in premiums can offset that by a lot.
Depending on the Medicare supplement plan you choose, the plan may provide a benefit for (Benefits and cost vary depending on the plan you choose.):
- Part A coinsurance (and most plans provide a benefit for the Part A deductible)
- Some of the out-of-pocket costs not paid by Part B (some plans also cover the Part B deductible)
- Cost of blood transfusions (first 3 pints)
- Cost of up to 365 extra hospital days after you’ve used up your Part A benefits
- Skilled nursing facility coinsurance or copayment
- Part A hospice/respite care coinsurance or copayment
You pay a monthly premium and some out-of-pocket costs.
To see a list of all the Medicare supplements available – take a look at our Medigap supplement chart. This chart can be found in the booklet called “Choosing a Medigap,” which is published by Medicare itself. The chart details the benefits that are included in each Medicare supplement, which are labeled Plan A – Plan N.
What Is The Best Time to Enroll In A Plan?
In the event you happen to be considering signing up for these Medigap plans you need to know that the best time to enroll in some of these would be during what’s called the Medicare Supplement Open Enrollment Period. This starts when you are older or 65 years old and you have Part B Medicare.
Don’t forget your prescription drug coverage.
There are two ways to get Medicare prescription drug coverage, either through a Medicare Prescription Drug Plan (Part D) or through a Medicare Advantage Plan with prescription drug coverage (MA-PD). Let the sales agents at PRS help you discover the most affordable Medicare plans available to you, and to understand when your coverage starts, what’s covered, and what to expect.
Need help? Call us for an appointment at (817) 952-3153
Sarah began working in the healthcare industry in 2001, where she worked for many years with elderly Alzheimer and Dementia patients. From there she worked as a Group Benefits Administrator with a local healthcare company in the Human Resource Department for a period of 10 years. Since then, she has decided to work in the Medicare insurance industry full time and has joined the family business, Ashford Insurance, as a Medicare Insurance Agent.