Medigap Plan G VS High Deductible G

Medicare Supplement (Medigap) Plan G is definitely one of the most popular Supplement plans on the market and has been for a long time. Plan G is popular because of its fully comprehensive coverage. After meeting the annual Part B deductible ($203 in 2021) Plan G completely fills the gaps of Original Medicare Parts A and B. Depending on your health needs, (if you’re healthy and don’t go to the doctor often), you may be better off enrolling in a High Deductible Plan G. Below is a recent quote generated in March 2021 from one of the top national A+ Rated Medicare Supplement insurance companies on a 65 year old female, Non-tobacco in a Denver, CO zip code 80206. As you can see in the graphic below, the monthly premium for a Plan G is $146.93, however, the monthly premium for a High Deductible Plan G is only $47.96. This is a savings of $1,187.64 per year between Plan G and High Deductible Plan G. The only difference between the two plans is the $2,370 total out of pocket deductible on the HD-G Plan before the plan pays 100% for the rest of the year. Again, if you are in good health and don’t go to the doctor often, High Deductible Plan G may be a very good option for your budget!

COST COMPARISON IN ONE YEAR BETWEEN PLAN G AND HIGH DEDUCTIBLE PLAN G: (Using the above quote example)

Plan G monthly premium $146.93 x 12 mos. = $1,763.16 (total annual out-of-pocket premium). Plus potential $203 Part B deductible (depending on if you go to doctor) = $1,966.16 total-out-pocket for the year potential.

Plan HD-G monthly premium $47.96 x 12 mos. = $575.52 (total annual out-of-pocket premium). Plus potential $2,370 (depending on if you go to doctor), which INCLUDES the $203 Part B deductible = $2,945.52 total-out-pocket for the year potential. As you can see HD-G Plan can potentially cost you about $1,000 more per year in this scenario where you had an uncommon health year, but it is important to note you would normally save around $1,000 per year on the lower premium if you had a normal health year. It is also important to note if you did have an uncommon year and reached the max out of pocket HD-G deductible of $2,370 (which includes the required $203 Part B deductible), the $2,370 is still FAR LESS than the max out of pocket (MOOP) for a Medicare Advantage plan in 2021 (which is $7,550 for in-network expenses and $11,300 for combined in-network and out-of-network expenses, according to Kaiser Family Foundation).

*Note: Due to CMS regulations (Center for Medicare and Medicaid Services), we are not allowed to use a specific insurance carrier name during a quote illustration. However, the above company is one of our top A+ Rated National carriers.

*Note: This is a solicitation of insurance. Your response may generate communication from a licensed insurance agent

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