There are ten different Medigap policies, so it can be overwhelming to try to make comparisons. If you’re just starting out the research process and wondering which policies might be right for you, it’s an excellent idea to take a look at your past bills. If there has been an increased area of spending for you in the past, then it might be helpful for you to pick a Medigap policy that includes that area of coverage.
It’s important to mention that Medigap policies will not actually include any additional coverage options. Instead, they’ll reduce the amount you owe when it comes to certain Medicare costs. This can greatly lower your bills and is an excellent option for those that are wanting to have the same great Medicare coverage but pay less for it.
Choosing a high deductible option
The high deductible policy structure means that beneficiaries will need to pay more out-of-pocket before their policy coverage fully begins. Once they’ve met their deductible, then their policy will provide even more coverage and they won’t have to pay as much. However, it is important to note that there will still be costs to pay even once you’ve met your deductible.
If choosing a high deductible option seems overwhelming to you, speak with an independent insurance agent about the possibility. They’ll be able to provide you with personalized advice and some deeper insight into your insurance situation. Making the right insurance decisions requires research and it can be extremely helpful to get multiple perspectives when it comes to policy selection.
Plan G coverage
Plan G is one of the Medigap options with the most extensive coverage. Those that are looking to reduce the amount they owe when it comes to Medicare costs should consider this option because it could significantly lower their medical bills.
There is only one area of coverage that is not included within Plan G. This area is the Medicare Part B deductible. Individuals that choose Plan G will need to pay for the Medicare Part B deductible out-of-pocket. Even though this area of Medicare is not included, Plan G is still one of the most comprehensive options and works very well for many people that choose to enroll.
Why choose this Plan G option?
If you’re looking for a comprehensive Medigap policy that could significantly reduce your medical bills, then this option might be the right choice for you. While Medigap does not provide beneficiaries with any additional areas of coverage, it does reduce their bills when they use their existing Medicare coverage. And, if you opt for the high deductible version of this plan, you will still get the same coverage benefits as the traditional Plan G. You will just have a higher deductible and lower premium.
If you’re interested in enrolling in Medigap, make sure that you’re enrolled in Original Medicare. Medicare Advantage enrollees are not eligible for Medigap, so keep this in mind when you’re thinking about all your different policy options.
If you’re ready to discuss Medigap and which policy is right for you, let us know! We’re here to make sure that you have all the tools you need to make the right choice and be confident in your decision.
