Medicare Plan G is a new health insurance option for those who are already enrolled in the Medicare program, and it has some major differences from traditional Medicare. The plan requires that you pay a monthly premium to maintain your coverage, and its premiums vary depending on your age and health status.
To help you understand this new option, we’ve broken down the major differences between Medicare Plan G and traditional Medicare.
What Is Medicare Plan G?
Medicare Plan G is a health insurance plan for individuals who are already enrolled in the Medicare program. It’s an option for those who want to switch from traditional Medicare, and it has some major differences from that plan.
The way the premiums work is a big difference between traditional Medicare and Plan G. With traditional Medicare, there is no premium, but with Plan G, you’ll pay a monthly premium to maintain your coverage. The amount of your premium will depend on your age and health status.
Why It’s Good You’re Getting Medicare Plan G
When you have Medicare, you have the option of choosing from four different plans. You might be eligible for a subsidy that covers part of your monthly premium and a number of your out-of-pocket costs, but other plans don’t offer any help with premium or out-of-pocket costs.
A plan is a good option if you already qualify for traditional Medicare because it has lower premiums than traditional Medicare, and it doesn’t require you to be enrolled in a Part D plan. With this plan, you can choose the type of coverage that meets your medical needs best: HMO, PPO, or EPO.
Furthermore, it pays for preventive care services like annual physicals and mammograms. If you don’t want to worry about whether or not Medicare will cover those things when they are important for your health, then this plan is for you.
How Much Does Medicare Plan G Cost?
One of the biggest differences between Medicare Plan G and traditional Medicare is that you pay a monthly premium to remain in the plan. The amount will vary based on your age and health status, but it will typically be around $180 per month. However, if you make more than $85,000 in a year, you will not have to pay any premiums at all.
Another difference is the premiums for traditional Medicare are lower for some people than those for Medicare Plan G. If you’re between 65-74 years old and are receiving a Social Security benefit or disability benefits from work, your monthly premiums will be $61. If you’re older than 75 years old or too sick to work, then your monthly premium will be $121.
Is Medicare Plan G Right For Me?
Medicare Plan G is an option for those who are already enrolled in the traditional Medicare program. The plan has some major differences from the traditional Medicare program.
Plan G’s monthly premium is meant to help defray the cost of health care, but it varies depending on your age and health status. To help you understand this new option, we’ve broken down the major differences between Medicare Plan G and traditional Medicare.
