Medicare Explained - Medicare Supplement Plans ✅
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- Опубликовано: 29 авг 2024
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Medicare Explained - Medicare Supplement Plans (All information valid for 2023)
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Medicare Supplement Plan G video: • Medicare Supplement Pl...
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According the Kaiser Family Foundation research, more than seven out of ten people enrolling in Medicare choose either option one (keeping just Medicare Parts A & B) or option two; adding a Medicare supplement as secondary insurance with Medicare Parts A & B being their primary insurance.
The first question you might have is; Why? Why choose to add a Medicare supplement plan to your Medicare Part A and Medicare Part B?
The reason is simple; With a Medicare supplement plan you, the Medicare beneficiary, get to keep all the benefits of Medicare while limiting your financial risk in the case of a medical event.
The next obvious questions you may be asking then is “What are the benefits of Original Medicare that we get to keep when we enroll in a Medicare supplement plan?” and “By how much can I limit my financial risk?”.
There are two major benefits of Original Medicare that you keep when you get a Medicare supplement.
Medicare’s intent is to cover everything that is Medically Necessary. It’s not like other insurance products where they list out what is covered and leave you guessing what isn’t on the list. With very few exceptions, if it is Medically necessary Medicare’s intent is to cover it. How does Medicare determine Medical Necessity? They ask your doctor. This too is unlike other insurance products. In most any other insurance you may have had in your lifetime, it’s the insurance company that makes a final judgement over what is or is not covered. Insurance companies don’t ask your doctor. This is huge. With Original Medicare, you and your doctor control your healthcare. Not an insurance company. That’s the first benefit.
The second benefit of Original Medicare you get keep with a Medicare supplement is that you can see any doctor or go to any hospital in the United States or its territories. You have national coverage. As long as they accept Medicare, your insurance will cover you. There is no limiting Network and virtually every doctor and hospital in the country and its territories accepts Medicare.
For most people, those two simple benefits are the most important features of their healthcare. You have freedom of choice, choosing any doctor or hospital available, and you have control over your healthcare because your doctor never has to get their recommended procedure or tests pre-approved by an insurance company. That is why more than 70% of the people starting Medicare today keep Original Medicare as their primary insurance.
It’s also important to understand that a Medicare supplement plan is a guaranteed renewable contract. What does that mean? It means that your benefits can never change. They are guaranteed. Once you have a Medicare supplement plan no one can cancel your coverage. No one can change your benefits. You have that plan and the benefits it offers as long as you pay your premium. Not even an act of Congress can change your plan or take it way from you. They can change it for people in the future who do not yet have a supplement, but they can’t change yours.
This is why you do not have an annual election period or open enrollment period for your Medicare supplement plan. Those annual periods are only for those parts of Medicare with benefits that change annually. Medicare’s position is that if the benefits change annually, you should have the right to shop for a new plan annually. Since your Medicare supplement benefits never change, there is no need for an annual election period. You have no NEED to re-shop your plan during an annual election period.
Instead, you can re-shop your plan any day of the year, 365 days a year. You just have to qualify medically to do so.
If you wish to change Medicare supplement plans outside of an initial or special enrollment period, the insurance company has the right to look at your medical history and deny you coverage if there is a recent history of critical or chronic illness. That is referred to as medical underwriting.
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After researching the internet for 4 days regarding social security and Medicare, I found your videos to be an outstanding example of excellence in communication - accuracy, honesty, comprehensive information and superior articulation. Thank You
💯
Thank you for speaking slowly.
Extremely well done. Explanations are clear and concise. Medicare pitfalls are clearly pointed out. Thank you, Matthew for your generosity in sharing your time and knowledge with others.
Thank you
Hands down the best and easiest, clear explanation of Medicare and the supplements
Thank you Gail
Matt and his team are awesome! They are very professional and supportive. Matt takes the time by appointment to walk you through all the details and helps you to narrow down what is right for you. I’m so glad I found Medigap Seminars last year!
Than you Cris. You're awesome for posting this.
Matthew I AND MY WIFE LIVE IN MINNESOTA IM TOLD WE AND WISC ONLY HAVE SUPPLEMENT RIDERS.!!!- I WILL BE CALLING YOU BUY OCT 15TH SIGN UP DATE. IM TOLD. I WISH YOUR VIDEOS WOULD COVER THESE RIDERS FOR MINNESOTA THANK YOU JOHN.
This is the best video I have ever seen explaining Medicare Supplement Plans!
68
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First I watched Medicare Explained then I watched this video. Prior to watching these two videos my mind was clogged and confused. I’m beginning to see and understand clearly now how Medicare works. I honestly didn’t know these choices were available to me, less alone knowing how to make a choice. I believe what goes around comes around. I know without a doubt you will be blessed for making this stressful time so much better.
Thank you Joyce You will find the entire series for people new to Medicare on my site: medigapseminars.org/new-to-medicare/ for free. When you are ready to explore your options in detail, I hope you give us the opportunity to compete for your business.
MedigapSeminars.org I plan to watch the entire series. I think in a couple of weeks I’ll be ready to speak with you.
So no income from RUclips, the folks like me watching and asking questions. How are you compensated. I always follow the money.
Very informative and fairly Comprehensive but simple videos .
Mathew I am a physician turning 65 later this year. I thought being a physician I do have reasonable knowledge about these plans but after watching your videos I realized how little I knew .
I am not used to writing reviews but here I could not hold myself .
Strongly recommend Matt’s videos for anyone looking to get information singing any plans .
Thanks for making them so simple .
You are very welcome sir
I was a Benefits Manager in my former job, and understood the ins and outs of most insurances except Medicare. Even I am finding Medicare quite complicated. I'm really surprised that they make it so complicated for seniors and disabled people, I'm shaking my head.
Physicians don't know anything about insurance as they always avoid getting their hands dirty with the billing side of the business.
Mat and his employees have been excellent answering any questions I have had. By phone or email. They have always called me back that day if their lines have been busy. I will be using them. Also watch his other videos well worth the information.
Thank you Joe. Where do I send the check? LOL
This video is superbly done! Very helpful. Only two sections that were a bit too much: 14:54, and 23:46. Thank you!!!!
I am really enjoying your videos! They have taken a lot of the worry out of Medicare, thanks to your very clear explanations. Thanks!
Hello Matthew, your videos are always very informative and I certainly appreciate you creating these videos for the consumer's enlightenment. 👏🏾👍🏾
It's 8:30 pm I am so thankful for the time and effort you put forth to make this information available.
You are welcome
These guys are great. They know what they are doing.
Thank you Kathy
Excellent information about Medicare options. Whew! You saved me from hours of internet searching! Rolling up sleeves for my work to evaluate options asking why and looking at my budget and risks for a longer fúture stability in my health care. Too bad I had to get old and poor to see the price over my lifetime vs the moments of my years of being disabled and fairly healthy. Never bet against hope! I may be a darn old lady in spite of myself. Thanks God bless Texas
You're the best in clearly communicating the ever confusing medicare supplement plans
Thanks
Matthew
Excellent videos. I really appreciate your time and service to provide this information.
Most of the information you cover in the videos does not exist in government manuals. Imagine that!
Thank you Woodspirit.
Your discussion made more sense in the first 3 minutes then all others did in an hour. Thank you.
You are very welcome Dawn. When ready, feel free to call if you would like my recommendations 800-847-9680
This is a confusing issue for those of us starting this journey and we know how important the first step is. Thanks so much for the clarity.
You are welcome. Feel free to view my other Medicare videos as well: ruclips.net/p/PL2KZrVNBipJgVaEFBaObZ_84qr7Nm6WUM
Honestly, you are the best I have listened to so far. Clear, informative and honest. Thank you.
Thanks for this video, Matthew. Outstanding job. You cut through the BS on the other sites and get down to basics, honestly. I will be giving you a call and doing business with you...people...listen to this man!!! He knows his business extremely well, not like most of these "i'm really just a salesman " types. I like this man!!!
Thank you Steven
Thanks so much - this is very helpful, and I appreciate your calm way of speaking.
You are welcome Carole
Great 👍 changing my plan to MEDICARE supplement plan.
Hi Christine - I have anew video on Plan G vs Plan N launching today at 3pm ruclips.net/video/EaO_P7ttfqg/видео.html you may find helpful
Thank you for this video! VERY helpful! My wife and I will watch many more of your videos. This really helped this complicated subject.
You're welcome Scott
Thank you so much for the very informative videos! Now I have better understanding of Medicare and all the benefits and what risks to be aware of. Just found your link today
You are welcome Elizabeth. When the time comes, I hope you give us the opportunity to compete for your business. 800-847-9680
I am new to the health insurance world. Recently licensed in South Florida. I continue to educate myself and you are my go to for clear, well laid out knowledge. I really appreciate the effort you have put in to making these videos!
You are welcome Sean. My office is in S FL too, Jupiter
@@MedigapSeminars I have been to your website and saw your location in Jupiter. I am in Broward County. I have recently contracted with a company and perhaps I expected a bit more with training, but I will do what I need to do to learn. Your knowledge has been so helpful. I will be proud to be one of the independent agents that looks out for the best interest of the client. "make an informed decision".
Have you gone out of business yet? How's that new career working out for you?
Love your videos & find them very helpful. After reviewing your relevant videos I decided to go with Original Medicare A&B & I selected the supplement G plan through Anthem of VA. I also selected Medicare D thru WellCare. I am happy with my choices. My spouse will next have an opportunity to chose. You & your videos make a difference. Thanks again.
I appreciate your comments. We are an independent insurance brokerage and would have appreciated to opportunity to compete for your business. We are only compensated when people work with us.
yeah Butch (stupid name by the way) You're a Prick... "Thanks for all of your hard work Matt, after learning a ton from you we took our business direct to an insurance company so you didn't get paid." Why even comment when you made such a prick move?
I've been watching your videos for 3 hrs now. There awesome. I hope I will be able to talk to you real soon like tomorrow 10-1-2021. Thanks for all your great videos. The only thing you need to cover is the damn states like Minnesota were I live whats going on with these riders. Need more info
Hi John, it frustrating. There are three states that have opted out of standardized Medigap plans. (MA, MN, WI) They each have their own thing going on. MA is the only state I won't work in. If you use this form we can get you more information and help you medigapseminars.org/quotes/medigap-quote-request/
Awesome information. 7/10 is a pretty significant #. Now I know why. Thank you for the valuable info.
I've watched a lot of videos and you have cleared up my confusion in one video more than any other. Thank you!
This is the best information for question about Medicare and sup
Thank you Louise
Excellent content...thank you for all of this wonderful and enlightening information!
Thank you for detail information. I appreciate your calm approach!!
You are welcome.
Great Video!
Great video everyone should know .
First of all, I found you presentation interesting and mostly informative. I wish you are clearer that you are paid a commission for every plan you place. and yes while it's the insurance company that pays it, its included in the monthly amount that the enrollee pays as well for medigap coverage or in Medicare advantage the amount the social security pays to the Medicare advantage program (over a $1000 per month). I lobbied for what became Medicare Advantage. Also I was a chief operating officer of an HMO...and I am not a doctor.
There are some providers who won't take Medicare. Notably in NY, MSK doctors. (Memorial Sloan Kettering). There are some not for profit groups that will help guide Medicare eligibles who take no payment at all. Thank you for listening.
Hi Sid. I have a separate video on what agents / brokers are paid. Although the cost is built into the plans, the consumer cannot avoid those costs by going direct to the insurer. It simply increases the insurers profit margins. The real question is; do we add value? do we add enough value to justify our being paid for what we do? The vote is in the people who reach out to us for help and respond to my educational videos grateful for clarifying the mystery left by poor government communication. The Medicare Advantage Plan program is a sad mess. I am sure when you lobbied for it you didn't expect the massive fraud from insurance companies intentionally rating every participant as unhealthy just to get a higher cap rate from the government (that's you and me, our dollars by the way). and you didn't expect that insurance companies would deny and delay services to boost profit. But they have. Two IG Reports in the last four years prove that point beyond the stories i have heard. medigapseminars.org/wp-content/uploads/2022/03/Medicare-Advantage-Appeal-Outcomes-and-Audit-Findings-Raise-Concerns-About-Service-and-Payment-Denials-OEI-09-16-00410-09_18.pdf and medigapseminars.org/wp-content/uploads/2022/05/OIG-Report_Medicare_2022-OEI-09-18-00260.pdf and ruclips.net/video/xw7EiH-5iik/видео.html
I really appreciate your information and nice manner. Watching all your videos, about ready to call you.
I just my accident and health insurance license for the state of CA I love your videos! Thanks for your help!
Excellent job. Thank you.
Excellent video. Thank you very much for this great information.
Thank you Linda. I have over 40 videos. You can find many directed specifically for people new to Medicare here: medigapseminars.org/new-to-medicare/
Very nice and useful video!! Keep up the good work!!
I will :-)
Great explanation on a very confusing subject/concept. Great teacher!
awesome and clear instuction.
Very informative.
Good information and helps.
Thank you so much!!! This is AWESOME!!!! I will be telling others about this!!
you are welcome Cheryl. I hope these videos can help everyone better understand their choices.
Thanks, I will be calling after I arrive in the States Nov. 1. Good Video
I look forward to talking with you Eric.
Thank you so much! Very informative!
Good information. I'm looking at choices I have now.
Very Good
Very informative
I have been watching Matthew's video's and they have been very helpful to me as he is very good at explaining everything. I had talked to so other agent who was recommended to me through a friend and without any information he recommended an AARP Advantage supplement and when I asked him a question his reply was "Just get it! You can always change!" After I watch all the video's I will call Matthew's agency to help me sign up, as I want to be able to understand all the all the terms used.
Thank you Christina. We look forward to helping you.
So, What did you end up getting?
Excellent info THANK YOU!!!!!
Glad it was helpful!
I was lost till I watched your videos ! Thank you
Very helpful thank you
Thank you sir‼️👍
Very well done! Thank you for your videos.
You are welcome Chuck
👌Very good video. I think _Plan _*_F_* high-deductible is what I will do .
We would be happy to help you select the best insurance company for your market. Feel free to call us at 800-847-9680 Our services are free to consumers.
So very helpfu! Thank you
These videos are great, clearly articulated and thorough. Thank you for taking the time.
Thank you. Please reach out to use if you need more information. I look forward to competing for your business.
So the quality of Supplement coverage is the same regardless of the company , only the price varies ? Another great presentation Matthew.
Absolutely. Thank you for your kind words
Thank you so much! Very Helpful! I left you a phone message so I can get in consultation with your company.
yes, of course. I will email you a link you can use to schedule a meeting with us. I have asked Candace to help you.
A benefit guarantee is not very valuable if the prices can be increased to the point that it becomes an economic deterrent.
Thank you so much for your expertise and knowledge. As a Medicare Agent I can understand so much more.
The videois aren't made for your type Leo. Go get your training in a classroom ya leach!
Your videos were so helpful a couple years ago. Now, I'm helping a couple people figure this all out and will be sending your videos to them. Thanks for helping us all out!
You are very welcome. This page on my website may help: medigapseminars.org/new-to-medicare/ #MedigapSeminars
Very helpful video
Absolutely the best explanation you are amazing,
Wow, thank you!
Very informative!
Very good 💯 you guys make it so much easier to understand and i really appreciate that thank you
Very interesting information and make it clearer o the difference on supplements and advantageplans
Thank you for your video and explanation. I am trying to educate myself on this so that I can better understand the options for my parents. Thank you!
Hi William. If we can help in any way, please reach to us. Our service is free to you, the consumer, and no sales pressure ever.
I'm used to Medicare advantage and this is my first time doing medsup. Thx for the info.
I am learning so much from watching your videos. Thank you so much for sharing this amazing source of information. This one is quite helpful.
I am glad you find them helpful. You are welcome. 🙂
very understandable and helpful video .. thank you so much
You are welcome Kapil.
Excellent videos! Best that I have researched. Thank you!
Wow, thank you!
⭐️⭐️⭐️⭐️⭐️ Outstanding & useful information beyond! I’m so grateful. Thank you sooo much!
You are so welcome!
Great information has opened my eyes to Medicare I have a lot of questions lot of confusion about Medicare have been inroled in Medicare since 2017 I still don’t understand the hole situation but will watch all your videos maybe I will call if I am still confused thanks for your videos
This is so clear and helpful in the maze of Medicare!
My sister recommended these videos to me and I am so glad she did! Very informative and helpful! Thank you!!
This expert has a very solid presentation style. Thanks
You are welcome!
I turn 65 next March and have been watching videos on RUclips educating myself about what to expect. I find your videos clear and very helpful in understanding the ins and outs of Medicare. The topics I have not seen covered are plans that cover vision, dental and hearing (other that advantage plans and I'm not as keen on those after listening to your videos.) What can you tell me about coverage for vision, dental and hearing? BTW, I am located in the Chicago suburbs. Thanks.
Hi Gary - that is a discussion for a good video and way too much for a RUclips reply.
Buy those separately from your Medicare.
Thanks so much. Very grateful for your clear and detailed explanations on RUclips. Hoping now to find a Spotify (or similar) audio version so I can listen again while doing other things.
I am getting close & this video was very informative.
Good job watching all of your videos
Thanks for the information. It really has helped.
Great video Matthew
Candy Champ Thank you Candy
Your videos are so informative and I like many others thank you for breaking it down. I’m faced with trying to get help paying fir dental work. I suffer from loose, decaying and infectious teeth. I need full mouth teeth extraction and dentures that I can’t get with a supplement plan. I don’t want a advantage plan but don’t see another way. I can’t even afford a payment plan.🦷
Learned a lot, very helpful. Thanks!
You are very welcome Julius. I hope you give us an opportunity to compete for your business medigapseminars.org/medicare-supplement-specialist-independent-medicare-insurance-broker/m-quote-request/
Thank you, this was very easy to follow and extremely informative!!!
You're welcome.
Yes it was.
Very informative, thank you.
Thank you for your very informative video. I am turning 65 soon and thinking about supplemental Plan G. Is my understanding correct that the moop and the deductible are the same amount?
Correct, the Plan G creates an annual MOOP equal to the Medicare Part B deductible.
That’s good information
Thank you very much. This was extremely helpful and easy to understand. I will be calling
Great video many thank.
I'm getting a lot out of your videos. Thanks so much for sharing your knowledge with us!
Thanks
Great video. Very helpful. Thank You!
Thanks for your videos. They are so helpful in understanding Medicare.
I will be turning 60 in early 2020. While I believe that Medicare begins at 65, I was wondering If there is anything that can be done in advance that can make the process easier or more cost effective?
You have plenty of time. Just understand you choices and keep aware of changes.
Nope.