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Let's break down the cost of Medicare Supplement Plan G together! In this video, we show you an example of how much your monthly premium could look like if you enrolled in the popular plan.
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Hi, everyone. Today, we're here to talk about one of the most popular Medicare Supplement plans, Plan G. So let's start with going over Plan G cost breakdown. We know we have Original Medicare Part A. Now that's gonna cover your hospitalization, for example. As long as you have worked 40 credit hours, 10 years, your premium for Part A is going to be $0. So let's go ahead and write that down. Next is, Original Medicare Part B. Part B is going to cover your doctors, your specialist visits, and the premium for that is going to be $174.70. So let's write that down. Parts C is Medicare Advantage. I'm gonna go ahead and put an X there. The reason I'm doing that is because you cannot have a Medicare Advantage Plan, Part C, with the Medicare Supplement plan such as Plan G. Part D, that's gonna cover your prescription drugs. So, on average for this year, The Part D premium is going to be $55.50. Now, for example purposes, let's say your Plan G, the monthly premium is going to be about $150. So let's go ahead and look at our monthly total. Okay. So we have Part A, Part B, Part D, and of course, Plan G. Now your estimated monthly total, assuming all of these parts and Plan G is going to be $380.20. Now it is important to remember that you must maintain Part A and Part B in order to be eligible to join Medicare Supplement Plan G. So again, your estimated monthly total cost is gonna be about $380.20. Now let's talk about what to expect with Plan G. Now with Plan G, you are responsible for your Part B deductible. So your Part B deductible for this year is going to be $240. So you have your Part B deductible $240. Once you pay that $240, your Plan G is actually going to pick up the rest of your covered medical expenses. Now, let's say you're looking at this year, I don't use my benefits often. I'm healthy. Well, you do have another option. And that is going to be your High Deductible Plan G. Now, just as the the title says, there is a higher deductible with this. So your deductible for this year for High Deductible Plan G is going to be $2,800. Now the important part to remember is this $2,800? That actually includes your Part B deductible. So just like regular Plan G, once you pay this deductible, $2,800, your plan is going to come in and cover the rest of your covered medical expenses. Really hope you enjoyed this video today. Go ahead and like and subscribe, and I'll see you next time.