Medicare Supplement High Deductible Plan G (2023)

Medicare Supplement (Medigap) High Deductible Plan G is one of the newest standardized Medicare Supplement plans. Medigap High Deductible Plan G is a great option for Medicare beneficiaries who want the benefits of standard Medicare Supplement Plan G but would prefer lower monthly premiums. Learn more about Medicare Supplement Plan G High Deductible and make an informed decision on your coverage.

What is High Deductible Plan G?

Medigap High Deductible Plan G is a Medicare Supplement plan that offers the same coverage as the standard Medicare Supplement Plan G. The premiums for the high deductible version are lower than the premiums for the standard Medicare Supplement Plan G. Yet, enrollees must pay a higher deductible for coverage to kick in at 100%. Cost-sharing you pay out-of-pocket, as well as the Medicare Part B deductible, applies toward the high deductible amount.

Medicare Supplement High Deductible Plan G Benefits

Medicare Supplement High Deductible Plan G continues to provide some of the most comprehensive supplemental benefits for Medicare enrollees. If you become eligible for Medicare benefits after January 1, 2020, Medigap High Deductible Plan G is the most comprehensive coverage on the market and makes a great alternative to Plan F benefits. However, you’ll still need to cover your Medicare Part B deductible.

Medicare Supplement High Deductible Plan G Chart for 2023

Comparing your plan options is important for anyone shopping for supplemental coverage. You can discover below the varying levels of coverage and compare the benefits of Medicare High Deductible Plan G with Medicare Supplement Plan G and the other lettered plans. For a full summary of what Medicare Plan G High Deductible covers in contrast to other plans, see the Medicare Supplement High Deductible Plan G Comparison Chart 2023 below.

Again, the healthcare needs of each person will be different, and it’s important to consider all of your options before enrolling in a plan.

Choosing among these plan options can be intimidating, but working with a licensed Medicare agent can help you pinpoint the right coverage for you.

For example, if Medigap Plan G or High Deductible Plan G isn’t right for you, an agent can help you receive the right healthcare coverage, such as the popular Medicare Supplement Plan N option, to keep you adequately protected.

What Does Medicare Supplement High Deductible Plan G Cover?

If you enroll in Medicare Supplement High Deductible Plan G coverage, you’ll enjoy the same benefits as standard Plan G benefits but with a lower monthly premium. Of course, you’re going to have to pay a higher deductible when receiving healthcare, but you’ll enjoy the same level of benefits:

• 100% coverage on your Medicare Part A deductible, Medicare Part B excess charges, hospice copayments, and coinsurance
• Additional foreign travel emergency coverage
• Your policy is guaranteed renewable regardless of your health

What Is Not Covered By Medicare Supplement High Deductible Plan G?

Your out-of-pocket costs left after using Original Medicare benefits alone are all covered by your Medicare Supplement High Deductible Plan G coverage with one exception: your Medicare Part B deductible. You also aren’t covered for dental, vision, hearing, or prescription drug costs. Although additional coverages, including Medicare Part D, are available to help cover such expenses.

How Much Does Medicare Supplement High Deductible Plan G Cost?

The average cost of Medicare Plan G High Deductible is around $40-$90 per month. But Medigap Plan G High Deductible cost varies based on several factors and will vary from company to company. Some of the most common factors private carriers assess include your age, location, tobacco usage, and gender.

To paint a better picture, we’ve compared the prices of Medicare Supplement High Deductible Plan G for males and females aged 65 and 75. For our methodology, no one uses tobacco products:

Who Is Medicare Supplement High Deductible Plan G Ideal For?

If you’re wondering whether or not Medigap High Deductible Plan G is right for you, you’ll want to take in a few considerations. Everyone has their own needs, but Medicare Supplement High Deductible Plan G is typically ideal for your benefits if you fit the following criteria:

• You are comfortable paying a higher deductible in exchange for lower monthly premiums
• You don’t often see the doctor or need to visit the hospital
• You live in a state that allows excess charges
• You enjoy traveling outside the U.S.

What Carriers Offer Medicare Supplement High Deductible Plan G?

Medigap High Deductible Plan G is offered across a range of top-rated carriers, including the following:

• Accendo
• Aetna
• Aetna Health and Life Insurance Company (An Aetna Company)
• American Continental Insurance Company (An Aetna Company)
• American Retirement Life Insurance Company (A Cigna Company)
• Anthem Blue Cross Blue Shield
• Bankers Fidelity
• Blue Cross Blue Shield
• Central States Indemnity (A Berkshire Hathaway Group Company)
• Cigna
• Combined Insurance
• Continental Life Insurance Company (An Aetna Company)
• Equitable
• ForeThought Life Insurance
• Gerber Life Insurance
• Government Personnel Mutual
• Heartland National
• Humana
• Individual Assurance Company
• Loyal American Life Insurance Company (A Cigna Company)
• Lumico
• Manhattan Life
• Medico
• Mutual of Omaha
• National General
• New Era Life Insurance
• Omaha Insurance Company (A Mutual of Omaha Company)
• Oxford Life
• Philadelphia American Life Insurance
• SilverScript (A CVS Caremark Company)
• Standard Life and Casualty
• Stonebridge Life Insurance (A TransAmerica Company)
• TransAmerica
• TransAmerica Premier (A TransAmerica Company)
• United American
• UnitedHealthcare
• UnitedHealthcare (AARP Medicare Supplement)
• United of Omaha (A Mutual of Omaha Company)
• United World (A Mutual of Omaha Company)

Although this isn’t an exhaustive list, it does represent many top-rated Medicare Supplement High Deductible Plan G carriers available for enrollees. Using a licensed Medicare agent can help you compare the best options in your area and deliver coverage that meets your healthcare and budget needs.

High-Deductible Plan G Pros and Cons

There are 12 lettered Medigap plans, providing beneficiaries a variety of options to fit their differing needs. There are pros and cons to each plan, and Medicare Supplement High Deductible Plan G is no exception. Let’s break down the High-Deductible Plan G pros and cons further to compare:

Pros:

• Medigap High Deductible Plan G provides some of the most comprehensive benefits of any Medigap plan, just like standard Plan G. But because of the higher deductibles, you can enroll and avoid a higher monthly premium.
• Your benefits are similar to Medicare Supplement Plan F High Deductible and standard Plan F, except for covering your Medicare Part B deductible. It’s a great alternative for those who became eligible for Medicare after the plan’s cutoff date (January 1, 2020).

Cons:

• Because the premiums are lower, you’ll need to pay a higher deductible before receiving full coverage for your benefits.
• Not only is the deductible costly for many, but it also tends to rise over time. This means your out-of-pocket costs are only likely to go up as you age.
• It’s also important to note that your deductible doesn’t carry over to other carriers if you switch providers.

What is the Deductible for Medigap High Deductible Plan G?

The deductible for Medicare Supplement High Deductible Plan G is $2,700. Beneficiaries reaching this deductible keeps the premiums low for this plan. Alternatively, if you are more comfortable with higher monthly premiums and would rather not pay the higher deductible, standard Medicare Supplement Plan G would be the better choice for you.

Is Medicare Supplement High Deductible Plan G Better than High Deductible Plan F?

The only difference between Medicare Supplement High Deductible Plan G and Medigap High Deductible Plan F is the same as between Medicare Supplement Plan G and Plan F; the latter covers the Medicare Part B deductible. However, since the amount you pay towards the Medicare Part B deductible applies to the high-deductible for the plans, they are essentially identical.

So which one is better? If you’re eligible for either Medicare Supplement plan, the Medicare Supplement plan that has the lower monthly premium in your area would be the better choice. Keep in mind, both versions of Medicare Supplement Plan F are now unavailable to new Medicare beneficiaries.

Can I Use Guaranteed Issue Rights to Enroll in Medicare Supplement High Deductible Plan G?

Due to the elimination of first-dollar coverage plans, if you aren’t eligible to enroll in one and have guaranteed issue rights, you can use these rights to enroll in Medigap Plan G High Deductible. Conversely, those who can use guaranteed issue rights to enroll in Medicare Supplement Plan F are not eligible to use them to enroll in either version of Medicare Supplement Plan G.

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