The United States instituted a healthcare program for people over the age of 65. The program covers many but not all medical expenses that would otherwise be prohibitively expensive for these high-risk seniors. A number of supplemental private insurance policies have been designed to fill the gaps in Medicare coverage. Medicare supplemental insurance plan G is popular because it pays for uncovered expenses in the basic Medicare program.
Understanding Medicare Supplement Plans
To avoid the expense of uncovered portions of Medicare, private insurance companies have created a number of supplemental plans. A number of different plans are available which cover a variety of the gaps in coverage. These may pay for coinsurance payments, excess fee, medicines or other common expenses. Medicare supplemental G provides some of this additional coverage that would otherwise be out-of-pocket for seniors.
What Medicare Supplemental Plan G Covers
Medicare supplemental insurance plan G covers the coinsurance payment for Medicare part A, which is the hospitalization portion of the plan. Medicare supplemental G also covers 365 additional days of hospitalization after the Medicare benefits cease. Medicare part B also has a coinsurance payment, and Medicare supplemental plan G will cover this portion of the bill. It also covers co-payments for any hospital outpatient visits. Medicare supplemental G covers the cost of the first three pints of blood each year should you need it. If you require hospice services, Medicare G covers the Part A coinsurance portion. Medicare G also covers skilled nursing facility care, the deductible portion of Part A hospitalization and any excess fees not covered under Part B. This coverage can be helpful if Medicare does not cover the full amount of your physicians’ services. If you travel abroad frequently, the coverage for emergency care will prevent out-of-pocket expenses during your trip.
Choosing the Right Supplemental Plan
For seniors on fixed incomes, Medicare supplemental insurance plan G can prevent costly coinsurance and deductibles that can eat into their limited funds. In addition, Medicare G relieves the worry about paying for skilled nursing care, if needed. If doctor’s fees exceed the Medicare coverage, Medicare supplemental G will pay for the additional amount. The hospice care coinsurance provides additional peace of mind. Traveling abroad is also worry-free with Medicare supplemental plan G emergency care coverage.