Medicare Plan G Pros & Cons: Everything You Need to Know

Medicare Plan G is one of the most well-known Medigap plans created to cover areas Original Medicare doesn’t.

These gaps include out-of-pocket costs such as coinsurance, copayments and part A deductibles. If you know more about these cost gaps, you’re able to predict some of your medical costs that can be quite expensive.

But is the plan worth it, and how can it benefit you?

We’ll go through the pros and cons of Medicare Plan G and compare other Medicare options with Plan G to help you decide if it’s the right choice for your healthcare needs and budget.

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What Does Medicare Plan G Cover? Updated in 2024, the Medicare Plan G covers:

Part A Coinsurance and hospital costs: After you’ve depleted your Medicare Plan A benefits, Plan G covers your hospital expenses for an extra year. Part A deductible: You won't have to worry about paying the Part A deductible, as Plan G fully covers this. Part B coinsurance or copayments : After you've paid your Medicare Part B deductible, Plan G covers the 20% coinsurance that Medicare leaves as your responsibility. Skilled nursing facility care coinsurance : If you need extended care in a skilled nursing facility, Plan G helps by covering the coinsurance. Part A hospice care coinsurance or copayment: Hospice care costs that Medicare Part A doesn't cover are fully covered by Plan G. Foreign travel emergency coverage: If you’re traveling abroad and experience a medical emergency, Plan G provides up to 80% coverage for emergency healthcare if it begins during the first 60 days of travel. Excess charges from Part B: If your doctor charges more than Medicare’s approved amount for services, Plan G covers the excess charges. Medicare Plan G doesn't cover the Medicare Part B deductible, which means you'll need to pay that amount out of pocket each year before your coverage starts.

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The Pros of Medicare Plan G Medicare Plan G is a really good option for those who want predictable healthcare costs and extensive benefits.

Besides predictable payments, other Medicare Plan G pros include:

Full Coverage for Excess Charges One of the top benefits of Medicare Plan G is that it fully covers excess charges. These are additional costs you may incur when your doctor bills are more than the amount Medicare covers for a service.

For instance, if your doctor charges $115 for a service that is Medicare-approved for $100, Original Medicare pays $80, and you are responsible for the $20 plus $15 excess charge.

Coinsurance or Copayments With Plan G, you don’t have to worry about the usual 20% coinsurance or copayments that Original Medicare requires for Part B services like doctor visits and outpatient care.

After you’ve met your annual Part B deductible, Plan G takes over, covering those costs entirely. This can be a huge relief if you require frequent medical care.

Nationwide Acceptance by Providers As long as your provider accepts Medicare, Medicare Plan G is accepted by any provider, meaning you can choose your own doctors and healthcare providers without being tied to a network.

This way, you know your health care needs will be taken care of by providers wherever you’re traveling in the country — whether cross-country, interstate, or close to home.

No Network Restrictions In contrast to Medicare Advantage plans , there are no network restrictions with Medicare Plan G. This means you can visit any doctor or specialist that accepts Medicare without needing referrals and with no fear of running into network limitations.

For example, if you’re frequently traveling the country and need medical care, having network availability can come in handy.

Plan G does not cover prescription drugs, so if you need medication coverage, you’ll need to enroll in a standalone Medicare Part D plan

The Cons of Medicare Plan G While Medicare Plan G offers extensive coverage, it’s important to mention potential downsides so you can decide if it’s the right fit for your healthcare and budgetary needs.

Some of the cons of Medicare Plan G are:

Higher Premiums Compared to Other Plans One of the main cons of Medicare Plan G is its higher monthly premiums compared to other Medigap options.

Since it provides such comprehensive coverage, including protection from excess charges, the premiums tend to be higher than more basic plans like Plan N.

On average, Medicare Plan G premiums can range from $100 to $300 per month, but these rates can be higher or lower based on your individual circumstances.

Lack of Prescription Drug Coverage It’s also important to note that Plan G does not cover prescription drugs. If you need coverage for medications, you’ll need to purchase a standalone Medicare Part D plan.

That means an extra monthly premium and more out of pocket costs on your prescriptions — something to think about when figuring out your overall healthcare budget.

Out-of-Pocket Costs for the Part B Deductible Unlike some other Medigap plans, Plan G does not cover the Medicare Part B deductible, which is $240 in 2024.

This means you will need to pay this amount out of pocket each year before your Plan G benefits for Part B services start covering your expenses.

While this deductible is relatively small, it’s still something to factor into your decision, especially if you’re looking to exclude all out-of-pocket costs.

If your doctor charges more than what Medicare approves (Part B excess charges), Plan G will cover those additional costs

Comparing Medicare Plan G vs. Other Medigap Plans When choosing the right Medigap plan, compare Medicare Plan G with other popular plans to see what's the best fit for you.

The other plans you might encounter include:

Medicare Plan G vs. Plan N One of the most common comparisons is between Plan G and Plan N.

Both offer similar core benefits, but the key differences are that:

Plan G usually has higher upfront monthly premiums than Plan N. Plan N covers most medical services, but you’ll have copayments for doctor’s visits and emergency room trips and your Medicare Plan N also doesn’t cover Part B excess charges. Medicare Plan G and High-Deductible Plan G If you’re looking to save on premiums but still want the comprehensive coverage of Plan G, the High-Deductible Plan G may be an option worth considering.

You should consider this plan because:

This version of Plan G has significantly lower monthly premiums, but you’ll need to meet a higher deductible ($2,700 in 2024) before the plan starts covering your healthcare costs. High-Deductible Plan G is ideal for those who don’t expect frequent medical expenses but want the security of comprehensive coverage in case of a serious health issue Compare Medicare Plans with Healthpilot’s Help At Healthpilot, we provide customized Medicare recommendations based on your personal healthcare needs. If you’re looking at Plan G or considering other options, our platform provides insights and solutions so that we can help find you the best Medicare plan based on your individual needs.

With Healthpilot, you can easily compare Medicare plans , including Medigap plans like Plan G, to find the coverage that best fits your situation.

Here’s what you can expect from out platform:

Personalized recommendations: Tailored suggestions based on your specific doctors, medications, and healthcare needs. Easy plan comparison: Compare different Medicare plans, including Medigap options like Plan G, with a clear breakdown of costs and coverage. Flexible enrollment: You can enroll fully online or reach out for help if you need it — your choice. Annual plan reviews: Once a year, we help you review your coverage to make sure it still fits your needs. Free to use: There is no pressure to enroll with Healthpilot — it’s free for you to use. Find a Medicare plan!

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