Medicare Supplement Plan G: Still Good In 2023?
Medicare can be very confusing for people just turning 65 but it doesn’t have to be.
Medicare plan G is one of the Medicare supplement plans designed to cover the gaps in Medicare, and for new enrollees, is the most comprehensive in coverage (and most expensive).
This article will answer all of your questions about plan G and give you sample rates.
Compare 15+ different plan G companies by filling out our quoter.
Table Of Contents
- What Does Plan G Cover?
- Plan G Monthly Premium
- Plan G & Prescription Drugs
- Is Plan G Worth It?
- Plan G Pros & Cons
What Does Plan G Cover?
Medicare plan G covers everything that original Medicare does not cover except the Part B deductible. While the part B deductible changes every year, in 2022 that is $233.
This means, that other than the monthly payment for plan G, the only thing you will ever have to pay for healthcare is the Part B deductible.
It is the most comprehensive plan but also the most expensive. It is also the most popular plan in 2022 because of its comprehensive coverage.
The monthly premium for Plan G will vary greatly depending on your area. The fastest way to see premiums is to fill out our quoter and your information, but below are some sample rates for people turning 65.
The average Medicare plan G premium for 65-year-old a man is $110-$125 a month.
The average Medicare plan G premium for a 65-year-old woman is $95-$110 a month.
Medicare Plan G & Prescriptions
The one thing all Medicare supplement plans do not cover is prescriptions.
Medicare plan G does not cover prescriptions, but you can get very affordable prescription plans separately.
Many prescription drug plans come at rates less than $20 a month and will cover most people’s prescription drug coverage needs.
Is Medicare Plan G Worth It?
When choosing whether to do a Medicare supplement plan like plan G or a Medicare Advantage plan, it is worth considering your risk tolerance and health.
Generally speaking, it is worth it to have Medicare plan G if you are unhealthy or expect to be unhealthy in the future, including in the last few years of life.
Your medical bills could be substantial if you have Medicare Advantage or original Medicare, as there will be many co-pays, coinsurance, and deductibles you are paying, which can be thousands of dollars.
The more you need health care in your life, the more value you will find in Medicare plan G because it covers almost all of your remaining healthcare expenses.
Medicare Plan G Pros & Cons
The biggest pros to Medicare Plan G is that it covers almost all of your remaining healthcare expenses that original Medicare does not cover. You will pay nothing for health care other than your Part B deductible.
The biggest con to Medicare Plan G is that it is one of the most expensive Medicare supplement plans out there. You get what you pay for.
Overall, we are a big fan of Medicare plan G if you can afford it. It will give you and your family peace of mind that if you ever need serious medical care for the rest of your life, Medicare and your supplement plans will cover everything.
All you need to do is make that monthly payment.
However, is Medicare plan G is out of your price range, consider enrolling in a Medicare Advantage plan that has the same deductibles and co-pays as original Medicare but with more benefits added on.
Still wondering what to choose?
Fill out our quoter or chat with us and we will walk you through all of your options and let you decide what is best for you.
We look forward to hearing from you!
Thanks for explaining that Plan G is usually for retired people. I'm interested in learning more about Medicare plans because I want to be very early in planning for my retirement. As such, medical insurance would be a huge part of that.
Hi Alice, glad you liked the article. We sent you an email!
Regards for helping out, great info .
Thank you Gralion.
I’m still confused. I currrntly have a Humana PPO Plan which is &33/mo but hardly anyone takes it in Union, no
I like Plan g but it’s too expensive.
I can cancel my Humana and go back to orig Medicare and then find a new supplemental plan but I don’t know which one
Part g is good for my husband when he’s eligible for Medicare because he has diabetes, high cholesterol, a stent in his heart, is overweight and smokes.
However, I am in fairly good health for now
Any recommendations for a better supplemental plan for me?
Hi Elizabeth, for healthy people, a Plan N is a lower-cost option that covers almost all of the same things as Plan G. We will send you an email with more information on pricing.