There are two main types of private Medicare plans: Medicare Advantage Plans and Medicare Supplement Plans. This article discusses the benefits of the Medicare Supplement Plan G in Nevada. In Nevada, people can only get Medicare Supplement Plans if they meet the following eligibility requirements:
Unfortunately, if you are under the age of 65 you do not qualify for a Medicare Supplement plan, including the Plan G in Nevada. If you are under the age of 65 and qualify for Part A and B of Medicare, you can still get a Part C Medicare Advantage Plan.
Plan G Benefits
The Plan G is the highest benefit plan available to everyone in Medicare starting in 2020. Some people may qualify or may still be enrolled in the Plan F. If you are enrolled in the Plan F, we highly recommend changing to the Plan G, if possible. To learn more as to why the Plan F is no longer a good option for most people, please click here.
The only out of pocket expense for approved Medicare services in the United States is the Part B deductible. In 2020, the Part B deductible is $198. After you spend your Part B deductible, all approved Medicare costs are covered for the rest of the year. Since the Plan G in Nevada is classified as a Medicare Supplement Plan, a standalone Part D Drug Plan will need to be purchased to get prescription coverage.
Plan G Costs
The Plan G in Nevada varies in price with every insurance company. Most insurance companies will give different rates for men and women. Traditionally, women will have lower premiums compared to men. Most insurance companies will rate based on age. Every year you get older, your Medicare Supplement premium should increase by roughly 3 – 5%. Your annual rate increases may vary depending on the insurance company you select. We recommend consulting a licensed broker to make sure you choose the lowest costing carrier.
How to Enroll
Depending on your situation, you may need to answer health questions. If you need to answer health questions, your health history and current prescriptions may affect your eligibility for the Plan G in Nevada. Fortunately, you can apply for a Plan G in Nevada at any time of the year. You do not need to wait until the Annual Enrollment Period to apply. Using a broker does not cost anything additional when applying. A broker will help you understand your options and make sure you submit the paperwork correctly.