High Deductible Plan G
While Medicare is intended to lower medical bills, it doesn’t come without its own costs. Understanding these costs and your options for paying them is important whether you’re initially enrolling or have been a beneficiary for years.
High Deductible Plan G
Medigap is supplemental insurance that can be purchased through local insurance agencies. There are ten different Medigap policies available and they have all been given a certain letter. Medigap works by covering a portion or all of some different costs that beneficiaries must pay for out-of-pocket. Because of its standardized plan structure, Medigap is only available for those that are enrolled in Original Medicare. Taking a look at the different Medigap policies is one of the best ways to learn about the options available and how much money you could be saving.
Plan G
If you’re looking for a plan with a wide variety of coverage, then Plan G might be the right choice for you. It’s very inclusive and similar to Plan F, with the only difference being that it doesn’t cover the Part B deductible.
This plan doesn’t have an out-of-pocket limit, but it does cover 80% of foreign travel exchange. This is a great option if you’re looking to go abroad. Even if you aren’t planning on traveling, there are still so many great parts about Plan G. If you’re looking for a way to reduce your Medicare bills while still having access to the same comprehensive coverage, consider if Plan G could be the right choice for you.
Choosing a High Deductible Option
There are two policies within Medigap that have high deductible options. Plan G is one of those policies. It may seem overwhelming at first to think about a high deductible plan, but there are a few reasons why individuals choose this option.
A deductible is the amount that must be paid before an individual’s entire insurance policy coverage begins. Deductibles are typically on a yearly basis and can range in price. Choosing a high deductible policy does mean that you would need to pay more yearly, but it will typically have a lower premium.
Choosing a high deductible option is often smart if you’re not planning on using your coverage. If you’ve gone years without using your Medicare coverage, then a high deductible policy might be the best way to save money.
High Deductible Plan G
Let Us Answer Your Questions!
There is so much to learn within Medigap. Understanding all the different policies, weighing your options and making the right choice can seem so complicated at first. One of the best ways to go about this process is to speak with an insurance professional. They’ll be able to provide you with some more information and make sure that you feel confident in your policy selection choice.
If you’re ready to begin the enrollment process, make an appointment with us today! We’re here to provide you with support and make sure you have all of the information you need when it comes to Medicare and Medigap.