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Medicare Supplement Plan G Is Top Choice Among Turning-65 Seniors
"Plan G was the top choice followed by Plan N among seniors age 65 and opting for Medigap coverage," states Jesse Slome, director of the Medicare advocacy organization. The Association reported that Plan G was the choice of 54.9 percent of the seniors, with Plan N selected by 36.5 percent.
The Association partnered with MedicareFAQ, a leading seller of Medicare insurance solutions, on the analysis which examined some 2,000 Medigap purchases. "There are 11,000 Americans turning 65 every day," Slome notes. "Many often ask what other seniors select, so having a clearer picture is helpful to thousands of Medicare insurance agents."
Less than 1 in 10 of age-65 Medigap purchasers chose a high-deductible Plan G plan with less than two percent still eligible for a Plan F. "Seniors turning 65 and applying for Medicare for the first time can no longer opt for Plan F," Slome explains. Those with existing coverage can still be eligible.
Medicare Supplement Plan G covers everything that Medicare Part A and B covers at 100 percent except for the Part B deductible. "Seniors like Plan G because they won't pay anything out-of-pocket for Medicare covered services and treatments after the deductible amount is reached."
Plan G does not cover the Medicare Plan B deductible which is $233 in 2022. The 2022 deductible for High Deductible Plan G is $2,490.
The American Association for Medicare Supplement Insurance (AAMSI) advocates for the importance of educated planning. AAMSI supports insurance professionals who market Medicare insurance solutions. For more information, visit the organization's website at https://www.medicaresupp.org.
To access a national online directory listing local Medicare Insurance agents go to https://www.medicaresupp.org/