Let’s Look at Medicare Supplement Plan G
Medicare supplement Plan G is very similar to Plan F in terms of coverage, but the difference lies in the deductible for Part B. Medicare Part B has an annual deductible and when this is met Plan G will handle the coinsurance amount of Medicare-approved health services, which is often around 20% of the approved amount.
If you remain in the hospital less than 90 days but longer than 60 days, Medigap Plan G will cover your Medicare Part A coinsurance for each period of benefits. You will have a certain amount of hospital “reserve” days, and Plan G will cover the full per-day Medicare Part A coinsurance.
This bank of “reserve” days in the hospital are 60 nonrenewable days that Medicare provides which can only be used once in your entire life. Medigap Plan G will cover 100% of Medicare Part A eligible hospital expenses after all of your Medicare hospital benefits are used.
Days 1-60 – $1,288 Part A Deductible. (Plan G Pays)
Days 61-90 – $322 per day co-payment. (Plan G Pays)
Days 91-150 – $644 per day Lifetime Reserve Days co-payment. When your hospital stay exceeds 90 days during a benefit period, a feature referred to as “Lifetime Reserve Days” takes effect. Lifetime Reserve Days are 60 extra days of Medicare-paid care, subject to the $644 per day co-payment.
When you use a reserve day, Medicare permanently subtracts it from your 60-day lifetime limit. (Plan G Pays)
Beyond the additional 365 days. (YOU PAY)
FOR SKILLED NURSING CARE
Days 1-20. (Medicare Pays)
Days 21-100. (Plan G Pays)
Days 101 and after. (YOU PAY)
Part B Monthly premium of $121.80. (YOU PAY)
Part B $166 deductible. (YOU PAY)
20% of all Medicare approved expenses after the deductible. (Plan G Pays)
All costs for items not covered by Medicare. (YOU PAY)
Part B Excess Charges. (Plan G Pays)
Your Recommended Agent is Greg from BGA Insurance Group
Greg Gudis – Licensed agent ready to assist you during the enrollment period in 2016. Please fill out the form below to send your information to Greg so that he can contact you with the best advice and plan information for your current situation. He can also provide expert advice on retirement planning, life insurance, and long-term care.
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Benefit information provided by BGA Insurance Group – http://www.bgainsurance.net/medicare-supplement-plan-g-nj-medigap/