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What is Plan G?

Christopher L. Westfall, CSA
 
December14, 2010

  • The New Benefits of Plan G 

What is Plan G?

Medicare Supplement Plan G is fast becoming the plan of choice for a growing percentage of seniors.

In times past, Plan F was the overwhelming choice, due to the fact that it covered virtually everything Medicare did not cover and required no money out of pocket throughout the year - other than the monthly premiums.

As the deductibles and costs inside of Medicare have necessitated faster and larger rate increases for Plan F, seniors are starting to investigate the other plans.

Plan G, as modified with the Medicare Modernization Act, effective 6/01/10, is identical to Plan F in what it covers. The only difference for 2011 is the $162 cost of the Part B deductible that Plan F pays. But for this trade-off, the savings can be very significant. Seniors can save as much as $40 per month going with Plan G over Plan F, even though the difference in the two only accounts for a $13.50 per month deductible.

This means, if you’re willing to fork over $162 out of your checkbook when you visit the doctor’s office the first time during the year, you could save up to $300 for the year. This is real savings.

Oh, and last but not least, the rate increases for Plan G are less each year than Plan F. This helps long term.

Contact us for the lower rates in your area to see if this plan is best for you. Call us at 1-800-729-9590

 

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