Fair Square Medicare Wordmark

Why You Should Keep Your Medigap Plan

Cover image
By Daniel Petkevich
Sep 21, 2023

Important Considerations:

Health becomes a top priority as we age, and having the right healthcare coverage is essential. Medicare Supplement Plan G (Medigap Plan G) is a reliable and cost-effective choice to complement Original Medicare coverage. In this article, we'll explore the benefits of retaining your Medigap Plan G and explain why keeping your plan is a good idea.

Stay Up to Date on Medicare!

Join the Fair Square Medicare Newsletter to stay informed on cost savings, changes to Medicare, and other valuable healthcare information.
Medicare Supplement Plan G
  1. Comprehensive Coverage: Plan G offers comprehensive coverage, filling the gaps left by Original Medicare (Part A and Part B).
  2. Predictable Costs: Your out-of-pocket costs are predictable and manageable. Once you meet the annual Part B deductible, the plan covers the rest of your Medicare-approved expenses for the year. This predictable structure provides financial peace of mind, especially for seniors on a fixed income.
  3. Freedom to Choose Doctors: Unlike Medicare Advantage Plans, which often restrict you to a network of healthcare providers, Medigap Plan G allows you to see any healthcare provider who accepts Medicare. You don't need referrals to see specialists; you can receive care from the doctors and hospitals you trust.
  4. No Copayments for Doctor Visits: Medigap Plan G covers your Part B coinsurance and excess charges, meaning you won't have copayments for doctor visits and other outpatient services, saving you money.
  5. Stability: Once you enroll in a Medigap plan, you can keep it for as long as you want, as long as you pay the premium. The benefits and coverage won't change so you know what to expect.
Advantage Plans
  1. Network Restrictions: You are often limited to a network of providers, and out-of-network care can result in higher costs.
  2. Cost Structure: Typically have copayments, deductibles, and varying cost-sharing structures, which can be challenging to predict.
  3. Yearly Changes: Advantage plans can change their benefits, formularies, and networks yearly, potentially leading to coverage gaps and higher out-of-pocket costs.
Qualifying for Medigap Plans as You Age
Qualifying for a Medigap plan becomes more challenging as you age. The best time to enroll in a Medigap plan is when you turn 65 (or start Medicare Part B). During this period, insurance companies can't deny you coverage or charge higher premiums based on your health status. If you apply for Medigap plans later, you'll likely have to pass Medical Underwriting, which allows insurers to consider your health conditions when deciding whether to offer coverage and at what price. Pre-existing conditions could result in higher premiums or even denial of coverage. These factors can make it very difficult to return to your Medigap plan if you decide to leave it.
Conclusion
Retaining your Medicare Supplement Plan G offers many benefits, including comprehensive coverage, predictable costs, and the freedom to choose your healthcare providers. While it may be tempting to enroll in an Advantage plan you see advertised, it's essential to consider the impact changing plans could have on your future. Making a change without talking to an Expert could lead to long-lasting consequences. Schedule an appointment with one of our Medicare Experts at

fairsquaremedicare.com

or by calling us at 1-888-454-2383.

Stay Up to Date on Medicare!

Join the Fair Square Medicare Newsletter to stay informed on cost savings, changes to Medicare, and other valuable healthcare information.

Recommended Articles

a chart explaining different enrollment periods on medicare
How Do I Sign up for Medicare? A Simple How-To Guide For You
Apr 8, 2022
INR machine at home stock photo
Does Medicare Cover INR Machines?
Nov 22, 2022
The feet of a man suffering from foot pain stock photo
Does Medicare Cover Krystexxa?
Nov 18, 2022
Close up top view of a woman showing a round-shaped Lipoma fatty tumor on an open palm stock photo
Does Medicare Cover Lipoma Removal?
Dec 8, 2022
treehouse
Medigap vs. Medicare Advantage
May 25, 2020
Cover image
Does Medicare Cover Cold Laser Therapy (CLT)?
Jun 14, 2023
Washington DC stock image
14 Best Ways for Seniors to Stay Active in Washington, D.C.
Mar 11, 2023
senior man reaching to his ear with jumbled letters going into the ear stock image
Does Medicare Cover Hearing Aids?
Nov 9, 2022
Senior woman fretting in front of her laptop stock photo
How Medicare Costs Can Pile Up
Oct 11, 2022
Asian senior male patient having him eyes examined by laser machine
Finding the Best Vision Plans for Seniors
Jan 6, 2023
senior woman doing botox stock photo
Is Botox Covered by Medicare?
Jan 19, 2023
Medicare Enrollment Periods stock image
Explaining the Different Enrollment Periods for Medicare
Feb 3, 2023
senior man experiencing discomfort stock image
Does Medicare Cover Linx Surgery?
Dec 6, 2022
Senior woman checking blood pressure/heart rate at home stock photo
Does Medicare Cover Home Heart Monitors?
Dec 1, 2022
Man with disability and service dog stock photo
Does Medicare Cover Service Animals?
Nov 29, 2022
Mental health stock photo
Does Medicare Cover Mental Health?
Oct 12, 2022
A women's restroom sign that has been modified to show the stick figure woman needing to use the toilet
Does Medicare Cover Bladder Sling Surgery?
Jan 11, 2023
Cover image
Fair Square Bulletin: We're Revolutionizing Medicare
Apr 27, 2023

More of our articles

13 Best Ways for Seniors to Stay Active in Columbus

13 Best Ways for Seniors to Stay Active in Indianapolis

13 Best Ways for Seniors to Stay Active in Jacksonville

13 Best Ways for Seniors to Stay Active in Philadelphia

13 Best Ways for Seniors to Stay Active in Phoenix

2024 Medicare Price Changes

Can I Change Medicare Advantage Plans Any Time? | Medicare Plans

Can I Change My Primary Care Provider with an Advantage Plan?

Can I Use Medicare Part D at Any Pharmacy?

Comparing All Medigap Plans | Chart Updated for 2023

Costco Pharmacy Partners with Fair Square

Do All Hospitals Accept Medicare Advantage Plans?

Do I Need Medicare If My Spouse Has Insurance?

Do You Need Medigap if You're Eligible for Both Medicare and Medicaid?

Does Medicare Cover a Spinal Cord Stimulator?

Does Medicare Cover Abortion Services?

Does Medicare Cover Air Purifiers?

Does Medicare Cover Cala Trio?

Does Medicare Cover Cosmetic Surgery?

Does Medicare Cover Disposable Underwear?

Does Medicare Cover Flu Shots?

Does Medicare Cover Hoarding Cleanup?

Does Medicare cover Hyoscyamine?

Does Medicare Cover Ilumya?

Does Medicare Cover Inqovi?

Does Medicare Cover Jakafi?

Does Medicare Cover Ofev?

Does Medicare Cover Piqray?

Does Medicare Cover Scleral Lenses?

Does Medicare Cover SI Joint Fusion?

Does Medicare Cover SIBO Testing?

Does Medicare Cover Stair Lifts?

Does Medicare Cover TENS Units?

Does Medicare Cover the WATCHMAN Procedure?

Does Medicare Cover Tymlos?

Does Medicare Cover Xiafaxan?

Does Medicare Cover Zilretta?

Does Medicare Pay for Funeral Expenses?

Does Medicare Pay for Varicose Vein Treatment?

Estimating Prescription Drug Costs

Everything About Your Medicare Card + Medicare Number

Explaining IRMAA on Medicare

How Can I Get a Replacement Medicare Card?

How Do Medicare Agents Get Paid?

How Much Does Medicare Part A Cost in 2023?

How Much Does Medicare Part B Cost in 2023?

How Much Does Open Heart Surgery Cost with Medicare?

How Much Does Trelegy Cost with Medicare?

How to Choose a Medigap Plan

How to Deduct Medicare Expenses from Your Taxes

How to Enroll in Social Security

Is Fair Square Medicare Legitimate?

Is Gainswave Covered by Medicare?

Is HIFU Covered by Medicare?

Is the Shingles Vaccine Covered by Medicare?

Medicare Advantage MSA Plans

Medicare Advantage Plans for Disabled People Under 65

Medicare Consulting Services

Should You Work With A Remote Medicare Agent?

The Easiest Call You'll Ever Make

The Fair Square Bulletin: August 2023

The Fair Square Bulletin: October 2023

The Fair Square Bulletin: September 2023

Top 10 Physical Therapy Clinics in San Diego

Welcome to Fair Square's First Newsletter

What Does Medicare Cover for Stroke Patients?

What Is the Medicare Birthday Rule in Nevada?

What People Don't Realize About Medicare

When Can You Change Medicare Supplement Plans?

When to Choose Medicare Advantage over Medicare Supplement

Which Medigap Policies Provide Coverage for Long-Term Care?

Why Is Medicare So Confusing?

Your Medicare One-Stop-Shop

Your guide to Medicare Parts A & B, Medicare Advantage, and Medigap. 100% free.
Get the Fair Square Bulletin

Medicare savings tips, helpful guides, and more.

About

Medicare 101

Current Clients

Medicare Supplement Plans

Medicare Advantage Plans

Fair Square 2023

Terms of Use
Notice of Privacy Practices

Virgil Insurance Agency, LLC (DBA Fair Square Medicare) and www.fairsquaremedicare.com are privately owned and operated by Help Button Inc. Medicare supplement insurance plans are not connected with or endorsed by the U.S. government or the federal Medicare program. This is a solicitation of insurance. A licensed agent/producer may contact you. Medicare Supplement insurance is available to those age 65 and older enrolled in Medicare Parts A and B and, in some states, to those under age 65 eligible for Medicare due to disability or End-Stage Renal disease. Virgil Insurance Agency is a licensed and certified representative of Medicare Advantage HMO, HMO SNP, PPO, PPO SNP and PFFS organizations and stand-alone PDP prescription drug plans. Each of the organizations we represent has a Medicare contract. Enrollment in any plan depends on contract renewal. The plans we represent do not discriminate on the basis of race, color, national origin, age, disability, or sex. Plan availability varies by region and state. For a complete list of available plans please contact 1-800-MEDICARE (TTY users should call 1-877-486-2048), 24 hours a day/7 days a week or consult www.medicare.gov. © 2022 Help Button Inc

We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.

MULTIPLAN_FairSquareMedicare_01062022_M