Medicare Supplement Plan G: Why is it becoming more popular than plan F?

The Medicare Supplement Plan F has been the best sold plan until now. Recently, however, the Medicare supplement plan G is getting more and more attention and the number of members who enroll to this plan keeps on growing. What is it that is making members switch to plan G or choose this plan in the first place? And what is the difference between these two options?

 

The difference between Medicare Supplement Plan F and Plan G can be explained at https://www.medicaresupplementplans2019.com

Both of these available options of getting additional health insurance cover almost all similar expenses. While Plan F is the one that covers all of them, plan G won´t cover the deductible of Medicare Part B. This deductible amounts up to 183$ per year. This difference is one of the reasons why people are starting to lean towards plan G more than the until now favorite plan F. A 183$ deductible rate annually isn´t as high and in cases of emergency, one can easier pay this expense out of one´s own pocket. The premium for Plan G costs less than the one of Plan F, which is why in many cases, choosing plan G might save you money on the long-run. It turns out, that it doesn´t make such a difference whether you pay the 183$ deductible extra out of your own pocket, or whether you pay higher premium rates for plan F, which then also uses this money to pay that deductible for you. In fact, analysists say that it will be cheaper for the members to simply pay the deductible rate themselves, instead of having the supplement insurance company pay it forward for them.

 

Why choose Plan G over plan F?

After it has been announced, that Medicare supplement plan F isn´t going to be available to those who turn 65 in 2020 and thereafter, a lot of questions have risen up. Why isn´t this plan going to be offered in the future and what are the consequences of this? A logic expectation of plan F no longer being available to all after this time is that there will be less members of it and the members who are already in it will continue to become older and older. It is well known and statistically proven, that with older age we require more and more medical attention. What does this mean to the insurance company? There will be less members who pay for the premium and the members who da pay the premium will require, in most cases, high costs for medical attention. The only way for the insurance company to cover all this, will be to increase the premium of the plan. After this occurs, it will be more than likely, that paying for the plan F premium will turn out to be more expensive, than simply getting a Plan G and paying the 183$ deductible extra. In fact, some experts believe that switching even now will end up saving you money in the long run.

 

Medicare Advantage: Why most consider it to be the best

Although plan F is the most expensive one out of the ten available Medicare advantage plans out there, it is also the most popular one and over 50% of citizens who have Medicare part A or part B choose this additional advantage plan. What exactly makes this plan the best for so many and is it the best one for you too?

 It covers (almost) all expenses

Out of all the possible expenses that patients would need to pay out of their own pockets, the plan F comes in and covers all of them. So, why (almost) all? The only expenses that this plan and no advantage plan covers are ones due to routine vision and dental services, eyeglasses, hearing aids and prescription drugs. Other plans, such as A and B only cover three to four of these expenses and only the most basic ones.

The plan F also doesn´t have an out-of-pocket limit, like plan K and L do. These last two plans would require their members to first reach an annual limit of $5,240 when a member of plan K and a limit of $2,620 when on plan L, before starting to cover for health-care expenses.

Here´s a list of all expenses that are covered by the advantage plan F: Medicare Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are exhausted, Medicare Part B coinsurance or copayment, first three pints of blood (when blood transfusions are necessary), Medicare Part A hospice coinsurance or copayment, skilled nursing facility  coinsurance, Medicare Part A and Part B deductibles, Medicare Part B excess charges and foreign travel emergency.  Get a quote for 2019 medicare advantage plans to save money.

It gives you peace of mind

Regardless the age, one can´t foretell what will happen in life and especially your health state can change quickly and is in often cases something we have no control over. Health comes first and without getting medical help when necessary, proceeding with everyday activities may become impossible. The last thing one wants to worry about when in excruciating pain, is how to gather the money to get professional help. Especially if you´re on your own, being sick and not having enough money for doctor´s visits can leave you pretty much optionless. It´s not easy working and earning money for your medical bill while dealing with a condition. Imagine getting an unexpected diagnose or having a severe accident. You would need to stay in the hospital and surgery expenses can in some cases go over 70,000$. An original Medicare Part A would, for example, only pay 14,000$ of this expense. Having plan F, you gain the peace of mind that whatever comes your way medically, you will be able to get the help you needed, without having that financial burden. Although many mistake plan F for being the best only for the elderly, health issues can come at any age and it is always better to be safe than sorry.

Beginners Guide: 10 Medicare Advantage Plans

Having to choose between a Medicare original plan A or B can be challenging enough. And yet, these original plans don´t cover everything and some patients notice that a advantage to this original plan is more than necessary to save costs. As there are 10 different advantage plans to choose from, most patients are, once more, left questioning themselves which of the 10 will be the best option. Only after knowing what all these 10 plans are about, will you be able to discover which one is the best one for your individual situation.

How are the 10  Medicare advantage plans divided?  Get a quote for medicare advantage plans for 2019 to save money.

You won´t be able to choose from a Medicare advantage one to ten; instead they are named after the following letters: A, B, C, D, F, G, K, L, M and N. Especially for citizens who travel a lot through the United States or have two homes in different parts of the State, it is important to know that all these insurance plans are the same in (almost) all states. That means, that if you choose the plan A in, for example, Iowa you will get the same benefits if you choose the plan A in a different state, like Colorado. Why almost all states? Out of all 50 States, three of them do not follow the same standardization for Medicare and their Medicare advantage benefits and plans are uniquely standardized and therefore not similar to the rest of the country. These three states are Massachusetts, Minnesota and Wisconsin.

advantage plans for 2019

How are the premiums set for Medicare advantage plans?

Insurance companies in the 47 states, as mentioned, need to offer the same benefits for the same medicare advantage plan. However, there is no standardization when it comes to the price and the costs for the premium. Depending on the state and the insurance company, the price might vary. In general, however, all insurance companies base their premium prices on one of the following aspects:

  • Place of residence: some insurance companies charge the same premium price for all citizens of that state, regardless the age
  • Age when you´ve entered: there are insurance companies that set their premium costs based on how old you were when you first entered the Medicare advantage plan. In these cases, the younger you are when you get it, the less you will pay
  • Age you´ve reached: this method is similar to the one before, it is set based on the age you were in when you first enroll in this plan, however this type of method increased premiums the older you get

In addition, health insurance companies may and can increase their premiums with time for other reasons, such as inflation or even a bad prediction on the part of the company. If, for example, the market is smaller than what they expected and they are charging less than required to cover the costs, they may increase the premiums in that particular place.  A general rule says, comparing different companies will help you find the best price for the same benefit plan.

 

 

10 Expenses Medicare Supplement Plans Cover

Choosing from ten different kinds of supplement plans can be a difficult task. They are known in the letters A to N and all have different features and benefits that they cover. Surely, you want to make sure that the costs you need to pay the most for are getting covered by your supplement plan. Once you have gotten an overall view on the plans and which benefits they cover, it will become a lot easier to find out which one definitely doesn´t work for you and which ones might. There are 10 main expenses, that patients usually need to pay out of their own pockets because they´re not covered by the original Medicare Plan. Here is a list of all these 10 expenses and which supplement plan covers them:

Get a quote at https://www.medisupps.com/

 

  1. Medicare Part A costs for coinsurance, in addition to hospital costs for up to 365 days

These expenses are covered by all supplement plans, from A to N.

  1. Medicare Part B coinsurance or copayment
  2. First three pints of blood
  3. Medicare Part A hospice coinsurance or copayment

These are covered by the following supplement plans: A, B, C, D, F, G, M and N. The supplement plan K covers only 50% of them, while the supplement plan L only 75%.

  1. Skilled Nursing Facility (SNF) coinsurance

Coinsurance for skilled nursing facilities are only covered only by the following plans: C, D, F, G, M, N. The supplement plan K covers only 50% in this case as well, while the supplement plan L only 75%.

  1. Medicare Part A Deductible

The deductible for members of Medicare Part A is covered by the supplement plans: B, C, D, F, G and N. The supplement plan K and M cover only 50% of these expenses, while the supplement plan L only 75%.

  1. Medicare Part B Deductible

The deductible for members of Medicare Part B Is only covered by the supplement plans C and F.

  1. Medicare Part B Excess Charges

Any excess charges that members of Medicare Part B may need to face, are covered by the supplement plans F and G only.

  1. Foreign Travel Emergency (Up to Plan Limits)

Original Medicare Part A or B covers expenses one might face outside of the United States in very limited cases, one of them being, for example, on a cruise ship six hours away from a US port. In general, in all cases where you already know that you will be staying outside of the US for longer than a couple of hours, you would need a supplement plan. Emergencies that may occur abroad are covered up to 80% by the following supplement plans: C, D, F, G, M and N.

  1. Out of pocket limit

Almost all of these supplement plans don´t have a limit that needs to be reached for them to start covering costs, however when choosing plan K, you would need to reach a limit of $5,240 before the plan starts covering for all the costs, and a limit of $2,620 with supplement plan L.

 

What is Medicare supplement health plan?

Medicare supplement health plan is considered to be very important and significant like the original medicare plan. Now a question can pop up in your mind as to what is Medicare Supplement plan.

Medicare supplement plan is known to be such an associate plan that you get only when you get yourself enrolled with the original medicare plan. The government is there to pay for the various additional costs under medicare supplement plan that are not generally covered by the medicare plan.

To learn more visit https://www.bestmedicaresupplementplans2019.com/

More on the supplement plan

This supplement plan is also known as ‘MA Plan’ or ‘Part C’ which are basically provided by various private companies properly approved by Medicare. Medicare is supposed to pay these private organizations to properly provide you with various Medicare benefits.

In case you join this supplement plan, it will offer all the Medicare Part A (the hospital insurance) as well as Medicare Part B (the medical insurance) coverage. You need to understand that this plan is quite different than Medicare Supplement Insurance Plan.

Medicare Supplement Plans 2019

Types of Medicare Supplement Plans

There are different kinds of Medicare Supplement Plans. You are supposed to go for any of these plans according to your needs and requirements.

  • HMO or Health Maintenance Organization Plan: In this plan, you are allowed to visit doctors, various other care providers as well as different hospitals that falls under its network. In some cases, you may have to get some referral from your doctor to avail some of its benefits.

 

  • PPO or Preferred Provider Organization Plan: Under this plan, you are required to pay very less amount if you visit such doctor, health care provider or the hospitals that come under its own network. On the other hand, you have to pay more if you want to visit outside doctors or hospitals.

 

  • PFFS or Private Fee-for-Service Plan: This plan is regarded as quite similar to the original Medicare plan. In this plan, you are allowed to go to any hospital or doctor if they accept the payment terms of this plan. This plan is there to solely determine the amount of money that they will pay to doctors, hospital or other care providers. It also determines as to how much you need to pay.

 

  • SNP or Special Needs Plan: This plan is there to offer specialized and focused health care for some particular group of people. People who have both Medicaid and Medicare are eligible to avail this plan. On the other hand, people who live in the nursing home or are suffering from some chronic medical conditions are also eligible for the plan.

 

What is Medicare supplement plan and what is does?

The need for Medicare has not been missed in the years that have passed and mostly it has become more prominent with the passing time that Medicare is indeed in high demand in the market due to many reasons and most of them indulged the saving of money or the help during old age or emergency need. However, Medicare is of many types. The Medicare supplement plan is one such which will make sure that the original Medicare plan is carried out along with certain other benefits that are bestowed upon the clients. However, Medicare supplement plans are sold by private farms and not by government organizations. But there are many plans under the Medicare supplement plan that you should know which on to invest in so that it will be of aid to you during your time of need.

Who can join the Medicare supplement plan?  Take a look at the following site to learn more:  https://www.medisupps.com/cigna-medicare-supplemental-insurance-2018/

    • People who have both Parts of A and B in their original Medicare are eligible to buy the Medicare supplement plans and avail the services that they offer. There are many services as such which you can buy according to your needs and requirements so that it can be of use to you when the need arises.
    • You must live in the area or locality where the Medicare supplement plan is sold and there are doctors and hospitals that fall under the network so that you can avail the services that this plan sells and make the best utilization of it.
    • You cannot avail the benefits of the Medicare supplement plan until and unless you are of 65 years of age and you are no longer capable of taking care of yourself and fall under the burden of heavy expenses, till then if you have bought a Medicare supplement plan, you are not eligible to enjoy the services that they provide.
    • People who are suffering from a fatal disease that they cannot overcome and it is inevitable that any end of expenses will not be enough to save their life; these people cannot avail Medicare supplement plan or even buy one for themselves.

Conclusions

Medicare supplement plan is one among the many offered by the original Medicare which is bound to cover almost all the expenses regarding your health along with same added benefit. It is important that you know all before buying one.