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Medigap Plan G Cost

Medicare Bob
Medigap
How does Medigap Plan G costs compare to Medicare Advantage, and what's the difference between deductible and copay?
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Medigap Plan G Cost

What are Medigap Plan G costs, and how does it compare to Medicare Advantage plans? With Medigap Plan G, Medicare is your primary insurance, and it works by paying the Medicare-approved amount for your Medicare-approved services. Typically, Medicare pays 80%, and Plan G pays the 20% balance.


Medicare Advantage Cost

In comparison, Medicare Advantage plans have copays. However, Medigap Plan G does not have any copays. The only out-of-pocket cost with Plan G is Medicare's Part B annual deductible which is $233 in 2022.



Medigap Plan G Costs

There may be some confusion about Medigap Plan G costs. First, let's determine the difference between a deductible and a copay. A deductible is the amount of money that you have to pay before the insurance company steps in and pays what they're supposed to pay. A deductible is not something you pay at the time of your service.

For example, if you have Plan G and have an MRI, CAT scan, or a simple doctor's visit, you will give them your Medicare card and your Medicare Supplement Plan G card. They will process your service with billing, and if you have met your deductible, you will not receive a bill in the mail. However, if you haven't met the deductible, you will receive an invoice for the remaining balance of your deductible.

A copay is a pre-negotiated price that you agree to pay with the insurance company. For example, if you have a Medicare Advantage plan, you may have to pay a $20 copay to see your primary care doctor or a $40 co-pay for a specialist. You will have to pay that copay every time you have medical service.

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