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Selling Medicare Supplement Plan G

By  Senior Market Advisors  on April 9, 2019

Did you know 22% of Medicare enrollees are utilizing the benefits of Medigap plans? In fact, enrollment has increased every year since 2010. Selling Medicare Supplements is a win-win because you can sell year around, and they don’t require annual certifications. Plus, all plans are guaranteed renewable and Plan A, B, C, F, K, and L are guaranteed issue. If a beneficiary is looking for coverage assistance, the popular Medicare Supplement Plan G may be perfect.

Medicare Supplement Plan G Benefits

Medicare Plan G is very similar to Medicare Plan F, which is the most popular Medicare Supplement plan. Plan G offers excellent benefits to beneficiaries who would rather pay a small annual deductible to protect themselves from spending more out-of-pocket in the event of an unforeseen health expense.

Plan G covers all of the gaps from Original Medicare except for the Part B deductible. More specifically, it covers:

  • Medicare Part A coinsurance and hospital costs
  • Part B coinsurance and copayments
  • Blood work copays up to three pints
  • Hospice coinsurance and copayments
  • Skilled nursing facility coinsurance
  • Part A deductible
  • Part B excess charges
  • Foreign emergency travel

Medicare Supplement Plan G Cost

Medigap plans provide the same benefits regardless of which carrier a beneficiary chooses. This means if they want to purchase Plan G, they will have the same coverage whether they enroll with Aetna, Blue Cross Blue Shield, or Cigna, etc. However, the costs will vary based on carrier, zip code, age, gender, and tobacco use. Some plans are as low as $80/month while some are as high as $170/month.

At Senior Market Advisors, our agents have access to a custom-built Medicare Supplement pricing tool. This tool is great to use during sales appointments because it provides real-time and accurate pricing information.

Plan G vs Plan F

Plan F is almost identical to G, the only difference is Plan F covers the Part B deductible. However, Plan F is going away, and beneficiaries must be enrolled in Plan F no later than January 1, 2020, to maintain coverage.

Plan F may technically cover more, but many people consider Plan G to be a better value. Beneficiaries will need to pay their Part B deductible upon their first outpatient visit, but once the deductible is paid, they won’t need to pull their wallet out for the remainder of the year. Plus, Plan G has lower monthly premiums, and beneficiaries could save more than $400 a year! The standard Part B deductible for 2019 is $135.50, so the savings from choosing G over F significantly outweighs the cost of the deductible.

Sell Medicare Supplement Plan G

The best time for a beneficiary to enroll in a Medicare Supplement plan is during their initial enrollment period (three months before and after their 65th birthday). During this time, they can enroll in any plan that’s available in their area regardless of any health issues they may have. Outside of the IEP, they can enroll year around, but carriers can deny or charge more for existing conditions. As an agent, it’s your job to inform beneficiaries of the best plans in their area. At Senior Market Advisors, we help our agents do just that.

Beyond our Medicare Supplement quoting tool, we also offer a custom-built CRM system, in-house marketing team, print shop, sales support team, and top-tier commissions. Why wait? To start contracting today, fill out this form.