My husband and I entered medigap in the past year. I did a lot of research beforehand. We are both on the Plan N and feel 100% confident with our choice. Your presentarion was TERRIFIC by yhe way. Great job!
@@FloridaNative59 I am in Florida as well. All my working years I’ve always had BCBS. I am thinking about staying with them and going with Florida Blue Plan N. They never had a “closed book” to deal with.
Outstanding video! I have participated in several Medicare seminars, and I will tell you that no one compared Plans G and N like you just did. Very helpful!
@@GiardiniMedicare I live in one of the eight states which prohibits Docs from billing excess charges so the only issue is the up to $20 copays and up to $50 max ER visit. When looking at the annual premium difference, I would need to visit a Doctor 15 times a year just to break even with plan G!!! Plan N is a no brainer!
My wife and I, PA residents, chose Plan N when we first signed up for Medicare a few years ago, WITHOUT the invaluable info contained in this presentation, and we would chose it again every day of the week. My thinking then was spot-on with what was presented here. Thank you for validating our choice.
You are about the only agent that actually understands what non- participating provider is. As an administrator for providers I have looked into this for them a number of times. Providers have misconception that they will make an additional 15%. It is not a good business decision to go Non-participating. As your example is very telling, the provider would only receive an 8.5% more than the participating. Not worth the hassle explaining to the patient why you can charge this and the patient will certainly let their referring doctor know or they may look to move to a participating provider. The risk of losing business is too great for the providers business. However, most providers business people don't even understand it. Good job in explaining this.
Love all the info! Very informative, just one suggestion: we older people need more time to look at things so could we see the pages of info & graphs more than your handsome face? I know, I know, I can pause and look, but it's helpful to ME to see what your talking about at the same time you're talking about it. When I pause I have no sound. I like to look at the info while it's being described. Thank you. 😊
I’m an N, but I’m well off and don’t have a worry about small charges. Also I am a believer in insuring what you can’t afford and paying for what you can afford.
If well off and "a believer in insuring what you can’t afford and paying for what you can afford", it seems like an Advantage plan would be your lean. Your comment makes me curious.
@@gericbabcock7145 You have a good point, I suspect it's because of the fear of managed care denying treatment. I'm willing (and can afford) the predictable treatment of supplement insurance, and I can afford the $20 payments to see a doctor 50 times per years if something weird came up, but why not save $20-30 month when it seems unlikely.
@@blastum I've got to make the decision soon. I've got a healthy neighbor on a zero cost advantage plan with zero cost benefits and he thinks its great. His argument is, how will you ever spend more than what you save in the next 5-10 years over a G or N plan. The whole thing turns on what you expect your health to do 'in the future', when you can no longer qualify to switch. Then again, maybe we will get universal health coverage and any extra money spent will be wasted.
I'm going A B and N when it is my time to get on MC. My parents and brother love their MA plans, but I want more flexibility and I don't like my healthcare being micromanaged. Besides, I work in rehab and the coverage is terrible, especially for Occupational Therapy.
What an outstanding comparison between these plans. You did a superb job and I am now very confident as I choose my Medigap plan. By the way my wife and I are on plan N. And we are quite happy with it.
Plan G and I’m getting it in 2 months. One big reason is the Bay Area sucks for getting appointments. You always have to schedule them with doctors two or months ahead of time. getting in the same week is impossible so most of the time I have to go to urgent care or the emergency room if I want to get in within the same week.
There's no way the doctor's office is going to segregate plan N vs plan G. YES, they'll segregate Medicare Advantage vs Traditional Medicare, but they're not going to know or care about N vs G because the compensation is identical.
Your rationale doesn’t make sense. The only reason in most cases to choose Plan G over Plan N is if you have some sort of chronic condition that necessitates many diagnostic doctor office visits per year which would cause you to have to pay many copays. Otherwise, a Plan N is a much better value over time.
I also live in the Bay Area (in SF). I joined One Medical and can be seen by an NP or PA within 24 hours (if not a weekend). There is an annual membership of $199. It's only $9/month if an Amazon Prime member. My former employer is a cooperate sponsor, so I have no membership fee. They work with most insurance and Medicare.
Thank you. This is very informative. I would like to choose N, but because of my recent diagnosis of osteoporosis I am wondering if it would be wise to go with G.
Depends on how often you think you may have to go to the doctor due to osteoporosis. I wouldn't say it certainly means you need Plan G, but you will have to decide the amount of out-of-pocket costs you are comfortable with!
Many retirees have plenty of money. If I had more money, I'd go with G. Excess charges are rare today. They may not be in 10 or 20 years. But I think I'll be going with N. Hoping I'll go at least another 10 years with just going to doc once a year, but you never know. Health turns on a dime. Your example shows that it would take a lot of doc visits to even the costs up.
@@WhittyPics That is what I am concerned about. What plan N is good for now might not be the same terms in the future. Medicare already started to implement a telehealth and urgent care centers $20 co-payment for plan N .
@@ItsMe-rr9nh 98% of doctors take Medicare assignment, so excess charges are not anything to worry about. The doctors who charge excess charges are predominantly psychiatrists and podiatrists. Also, it really wasn’t that Medicare “snuck in” the $20 copay for urgent care centers and telehealth. That change came about because of Covid and the fact that so many people had to get services that way instead of doing regular office visits. As a result of this, Medicare allowed them to charge the $20 copy. There was nothing underhanded about it, just a response which came about due to the lockdowns and fear associated with Covid.
Wow! Thanks for such a great explanation! I have my appointment today to chose my plan. After reviewing this video I believe N is a good plan for me !!!
Your estimated savings projections are missing one important item: as we age, we will most likely need to visit doctor more often, thus there will be more copays with plan N. That would reduce savings of plan N in the long term.
While that is probably the case don't forget the difference in premium between N and G will continue to grow. In my state I would have to visit the doctor 24 times per year to break even. Six months in I have had only 4 co pays to pay, so I am on track for 8 visits for the year. N.B. I have had 13 claims this year already most of which were to deal with a shoulder problem. Most of the visits were physical therapy which does NOT attract a co-pay. Follow-up visits to a doctor often don't attract a co-pay, Co-pays are for when a doctor diagnoses a condition, treatments following initial diagnosis typically do not attract a co-pay. So yes you will get more medical attention as you age, but the number of visits that attract a co-pay will probably still be modest.
@@JeanPierreWhite - I didn’t know about what triggers the copays, thanks for the info. I still have 2 years to decide, so there still lots of learning to do. One thing I discovered is that plans often allow moving from plan G to plan N, but not vice versa.
@@thyslop1737 It's a Medigap plan, and the benefits are described on page 11 of this guide: www.medicare.gov/publications/02110-medigap-guide-health-insurance.pdf Just know if you are newly eligible for Medicare, you aren't eligible for Plan F
The plan F is closed, so the pool of people in it is getting older by one year every year, guaranteeing the rates will increase rapidly due to more claims. Younger people with better health make insurance work because they have fewer claims. @thyslop1737
SO MANY NUMBERS!! But you explained it perfectly! I’m in Plan F and love it. I’m telling my friends who are about to go on Medicare to choose Plan G because they see multiple doctors and have hospitalizations occasionally. I would rather pay a higher monthly premium than worrying about copays throughout the year. One and done. Thank you for the info!
I was going in wanting get plan g but after watching several videos it was better for me to get plan n. I would have had to pay way more in plan g monthly premiums vs the small copays with plan n. I just signed up and got plan n. Money per month only makes sense in my situation. Also got rx plan that has 0 to 6 dollars for no premium on that
Great presentation and breakdown. We have recently selected plan N but were thinking of switching over to plan G. After watching, it makes more sense to stick with plan N. Thank you for your explanations and data.
Just met with a Medicare advisor. He was pushing advantage plans. I kept asking for medigap info. He only gave me plan G options. I made an appointment with a different advisor
Plan G sound better, just to avoid co-pays when visiting. Great comparison at the end, between Plan G and Plan N, about total potential lifetime cost differences. One thing that could be even more helpful, though this was great, would be: instead of just showing total potential savings after 25 years (age 90), also show at other points such as average life expectancy, or every 5 years. Thanks much.
I'm still thinking Plan Advantage. I think for 15 or 20 years, its likely that we will use medical care seldom (looking at our parents). However, after that, it would probably be nice to have plan G. That switchover thing is horrible. Can the difference in premium be put in an HSA for the next 20 years? Of course not, so being driven towards plan G for the same reason I never had a High Deductible Account when working -> too much risk before you can build up any decent balances in a HSA.
Excellent! I agree with Mr. Westfall's comment below here. That is the best comparison of Plan G and Plan N I have ever heard. I have a Plan N. But I would like to add something: if you have to undergo underwriting for a Plan N, it is amazingly easy to pass underwriting. You have to be close to death before you would fail underwriting. You are only asked if you are currently on very, very expensive medical treatment such as for cancer. The average person should not fear underwriting and would easily pass underwriting.
Thanks! As far as underwriting goes, I wouldn't say it's "amazingly easy." I do show real-world underwriting questions at the 7:22 minute mark in this video: ruclips.net/video/tfVYpougjWM/видео.html
I almost DIDN'T like and subscribe because I don't want "The Secret of Plan-N" to be popularized...we'll loose the price advantage, LOL! (But I did like and subscribe).
Especially whereas a previous comment stated that he was going to be age 65 soon and has a shitload of health problems and is leaning towards plan N (He might regret that and in his situation most likely plan G will not be an option for him with all his health problems later on)
Lots to consider. Great review. One difficulty is that you only choose once. After that you're not doing this kind of comparison btwn what 'could have been.' So in a way it's less a financial decision and more of a lifestyle/emotional one.
There is a lot to it, but it’s still possible for many people to change from one to the other if they can pass health underwriting. One of our upcoming videos will highlight that process
Leaving my career in August and been educating myself for over a year now. Been in touch with a local broker and she is so G. To her credit it's all about the guaranteed issue for SEP. Yet I've been leaning towards N and now have a phone appt. with your Gwynn coming up ! Many thanks !
I avoid doctors and hospitals at ALL cost, so I am 98% sure I will be choosing Plan N. If I can afford it, Im going to put into savings the difference in monthly premiums from Plan G to Plan N and that "cushion " will be there for any co pay I may end up having. This will be in addition to my small HSA account that I saved during my last year of employment. On that note, IF I had known years before about HSA accounts and had the option of getting one, I would have stashed a ton of money into it, because THAT would have greatly aided in my future helathcare needs.
So what's a 'worst case scenario ' dollar wise ( give or take) that can be charged out of pocket for plan N excess charge? Because the cost for a procedure is still locked in by a standard medicate charge. So how much is 15% more for a crazy heart or cancer procedure starting from what Medicare allows?
Hate to give an unspecific answer, but it's really impossible to answer. In theory it would probably be tens of thousands of dollars for long term chemotherapy or dialysis treatments. However, in reality, we have never seen anything close to this and as far as we know, neither have any of our other broker colleagues.
Very informative. Will probably go for plan N. It’s a per person decision right? Meaning my wife could do plan G if that’s to her advantage. What about MOOP advantages of plans K and L? Thanks very much!
Definitely a per-person decision, so yes, she can do what she thinks is right for her! Funny you mention Plan K and L since I'm making a video about them in the next couple of months, but long story short, we don't think they make much sense compared to Plan N.
GREAT video! I'm leaning towards N for the reasons stated within, but I'm having a bugger of a time trying to find historical supplement monthly premiums data for (in my case) Aetna and Blue Cross. Can anyone tell me where I can find this information?
So happy to come across your post. I was happy with F. Every year i would call her and ask if F is still the best. She said yes continue on F. She sold me F and I believed it, except this year. I researched a lot and gave up and stayed with F. I thank you for your analysis i will hope i can get N now.
Medigap plans in Minnesota aren't standardized by the typical plan letters, so Plan N is not available there. www.medicare.gov/health-drug-plans/medigap/basics/compare-plan-benefits/minnesota
My Medicare is slated to start soon. I originally chose Plan G out of fear because I had a previous stint with cancer 6 years ago. I was concerned about what would happen to me financially if the cancer came back. I watched several videos on Plan G vs. Plan N. Then I changed to Plan N (while there was time to avoid medical underwriting). Your video has convinced me I made the right choice choosing. Plan N. You did a great job breaking down the differences between Plan G and Plan N. Thank you very much.
A couple things still leave me uneasy with plan N. The first is the assumption that the law of averages will apply to me or my spouse. I am in good health right now and my spouse is in fair health. I don’t know what the future holds, but family traits suggest that the average expenses may not apply for me and my household. The second is that in order to realize the payoff benefit, you must live out the 25 years on your chart. At a minimum based on age of eligibility at 65, one needs to live to be 90. I have no guarantee that I or my spouse will live that long. So plan G still looks to be a more stable choice over all. Just my two cents.
Thanks for your personal input! Those same reasons are why most people still choose Plan G. But to be precise, for the payoff benefits, I only showed the savings over 25 years and how they grow. The savings begin in year 1 for the majority of people who choose Plan N.
Do you work with NJ residents? Your site is saying you will pass on info to another company when I click that I am in NJ? Can I work with your company??
I live in PA, so without the fear of excess charges I’m leaning towards plan N, but if I see a Dr. in NJ for example, could they charge excess me charges?
I have heard F is now a closed plan, meaning no one can enroll in it moving forward....which means premiums for plan F are going to go up! The people in that plan will continue to age (which often includes greater likelihood of more frequent and/or more serious illness). No younger (likely healthier) people are entering the plan which will be the reason these premiums could go up a lot. My concern is that medicare can (and likely will) "close" ANY plan at any time with the same result. :/
Just turned 65 and still in very good health. Will continue on my employer’s qualified health plan till I retire in a couple of years. Then, it’s on to Plan N for sure.
Talk to an agent to be sure you handle Part B correctly while you are still working. If you do nothing you may find yourself subject to a lifetime penalty on your Part B premium.
We went with Plan N and are very happy with it. I pay $83 a month and my husband $88. We looked at how much it would go up over the course of 10 years and Plan G would cost a whole lot more. We are located in Western Pennsylvania so no excess charges and the co-pays of $20 or less are not a problem.
Unfortunately, we don't have a good answer for that. The copays can change according to the regulations that were written, but we don't know if people with current Plan N policies would see their copays change since the whole point of a Medigap plan is that the policy details stay the same over time. We have asked people in charge of large Medigap insurance companies this question and have never received a definitive answer.
The information in this video, and others by this group, is good. Question: Is the speaker AI generated? There is so much random movement that it is difficult to watch.
@@GiardiniMedicare Okay, this is good news. 😄 All kidding aside, really appreciate the information you are putting out with your videos; especially regarding the Plan G vs. Plan N topics. These have been some of the most helpful videos I have seen on RUclips.
I'm signing up for a supplement plan N for the first time for September 2024. If I choose company A during the open enrollment period can I: 1. change from company A to company B (still keeping plan N) without underwriting after 6 months ? 2. change from company A to company B (keeping plan N) during the yearly enrollment period for 2025 without underwriting ? Thank you
The answer is most likely no, but it will depend on which state you live in. In most cases, after your 6-month Medigap OEP, you will have to go through underwriting to change even from one Plan N to another.
@@GiardiniMedicare I live in Connecticut. In researching this, if I understand correctly, it looks like I can change from one plan to another without underwriting: N>G N>N G>N But can this change only be done during the yearly Oct/Dec window or can it be done any time? I read where one person (Connecticut) took the high deductible G plan, then if she anticipated a high cost procedure, switched to regular G, then back to high G afterward. Of course this wouldn't work for an unanticipated issue like an accident, cancer dx, etc. Is this something that can be done, or wishful thinking on her part ?
@@x.y.7385 I believe that is correct in Connecticut: portal.ct.gov/-/media/cid/medigapfactsheetpdf.pdf?la=en However, we are not licensed in Connecticut, so we can't provide a better answer unfortunately. if you use this link from our website it will get you connected with an agent licensed in Connecticut if you would like: gmedicareteam.com/map/
I'm in good health and on no medications, nonsmoker, non-drinker and I'm paying almost $200 per month for a plan G. I question the amount I'm paying listening to your comparisons. I'd like to consider switching over to plan N but I'm not real happy with my broker. He never seems to answer my questions or he tells me to call Cigna directly and then let him know what the answers are LOL any suggestions?
I would be fine with calling you guys. I really prefer sitting in front of someone but this gentleman is only 20 minutes away and he does not seem to be up for that. So I may as well go with another firm that I feel more comfortable with. To be fair, he's probably a good Agent but it's a personality thing. I like to ask questions and just have them answered. When I asked him a question he goes into this complete detail of things that don't even apply to my question and by the time he's through I don't even know what he just said . Also, you had mentioned in the beginning of the video that there were PDFs in description below but I'm not able to locate them.
@@lovingjesus5184 If you prefer meeting someone in-person, we get it! You can always give us a call if you would like, but if not, no big deal! As far as your current plan being almost $200/month, how good or bad that is, depends on the state you're in. One thing you could do before even talking to a new broker is by looking at Plan N and G prices on Medicare.gov to see if changing makes financial sense. If there are cheaper options, then we would suggest finding a new broker if you current one isn't a good fit (Which happens. We certainly aren't right for everyone either). Also, I think this is the PDF you are referring to, but let me know if you're looking for a different one: www.cms.gov/Medicare/Health-Plans/Medigap/downloads/Plan_N_Guidance2.pdf
How come Plan D is not as popular it is basically Plan G without the excell charge and plan N without the copay it is basically a hybrid between these two plans
Love your videos. I was already thinking of going with Plan N, and your explanation of excess charges has convinced me fully. Plan N it is. Thank you!!
Unless you are in a state with unique underwriting rules like a birthday rule or an anniversary rule, if you want to change from N to G, it will depend on your health and ability to pass medical underwriting. Plan G would likely save you money if you go to the doctor and ER many times throughout the year, but that is the risk you take when choosing a plan!
Not every doctor visit will attract a co-pay and not all co-pays are $20. One co-pay I had at my family doctor was $14. The co-pay is $20 or 20% of the medicare approved amount, whichever is smaller. If the medicare approved amount is less than $100 you pay less than $20. In the scenario you presented you might pay $200 in doctor co-pays and $250 in ER visits, worst case. One has to ask why would you visit the ER 5 times a year and all 5 times not get admitted? If that was the case the decision to go to the ER vs an urgent care facility is something you would have to ask yourself. In fact the $50 ER co-pay is designed to discourage unfettered use of the ER, which drives up medical costs and premiums. On a plan G a patient can visit the ER as many times as they want and not incur any expense personally other than the $240 annual deductible, this encourages abuse of the ER vs using an urgent care facility. This is one reason why Plan G premiums tend to go up more quickly than Plan N. Even if you are responsible in the utilization of the ER, the other people in the same risk pool as you might not be and you end up paying for their indiscretion.
@@jr38499 Correct. An "all you can eat" type of plan will encourage consumption. The small speed bump of a $20 co-pay is designed to make patients consider the need to see a doctor without it discouraging genuine need for care.
My wife and I have Plan N. I only see my primary care medical provider 1 time a year for the Medicare wellness check. My wife, who had open heart surgery in Nov, only sees a provider less than once a month. My sister, who is a year younger than my wife, and lives in the same area, pays $60 a month more for her Part G than my wife's Part N premium.
What a great video on explaining Plan G & Plan N. You mentioned switching out of a Medigap plan at any open enrollment period for an Advantage plan if finances became an issue. Advantage HMO plan premiums are $0 cost per month. Advantage plans are guaranteed issue. That's important for people to know since the longer one lives the higher the monthly premiums become.
If you move to another state or insurance drops are you still guaranteed plan insurance from another provider on plan N. Also I live in PA. There are no excess fees. Can I be excess fees when I am in another state
If you move with Plan N, you will get to keep your Plan N and you won't have guaranteed issue rights since you aren't losing coverage. Also, your insurance company can't drop you unless you don't pay your premiums, or the company itself goes bankrupt. If you don't pay your premiums, you wouldn't have guarantee issue rights, but the company going bankrupt would give you access to GI, but not for Plan N as you can see from Medicare.gov www.medicare.gov/health-drug-plans/medigap/ready-to-buy... Lastly, you could be charged excess charges outside of PA. Although, it is still very uncommon.
Outside of Medigap OEP, you would likely have to go through underwriting to make that switch in Texas. It is not one of the states with more lenient rules.
Thank you, the information was clear and informative. I was leaning toward Plan G but now think Plan N is an acceptable option based on my current needs and finances
So first paying 4 grand a year for parts A,B,D, plus the supplement and THEN also having to pay copays with Part N! 4 grand is a quarter of my income a year!
If you haven't met the Part B deductible, you must pay towards that. If your deductible has been paid for the year, you wouldn't have charges for PT if they don't use one of the CPT codes discussed in the video.
There is no copay for physical therapy visits. The only exception is the first visit, if they evaluate your condition and establish a treatment plan then that first visit may attract a $20 co-pay. I had PT this year with plan N. Paid $20 for the visit to the orthopedic doctor, none of the PT visits had a co-pay. The doctor was quite smart. He set a follow-up visit after the planned PT sessions but told me, if you are doing well after the PT treatments cancel the follow-up with me. Which is what happened, he only wanted to see me again if PT failed.
As agents push people to Plan N who would normally choose Plan G, the premiums for Plan N will become more like Plan G because the utilization between the two groups will become more similar. As that happens, the 'natural G plan' patients will pay higher premiums than expected at sign-up AND the differential Plan N costs. From the consumer side, a person who anticipates low utilization will want a plan that does not include high utilization participants since there is intra-group subsidy going on. The high deductible plan (HDG) has the highest barrier to entry. This can be seen in the plan's relatively low COL increases over time, which I expect to continue to be true. Who are natural HDG participants ? Not those in 'average' health at age 65. Only those in excellent health, and who specifically do not have lifestyle risk factors. This is a small group, but it is nice for them that a plan exists that matches their cost to the plan to the premium.
It's great to anticipate "low utilization," but in reality, our health can change in an instant despite our expectations. HDG is a great option for some people, but it's not as straightforward as saying healthy = HDG. Either way, thanks for watching and for adding your perspective to the mix!
I have Mutual of Omaha and they screwed me! They routinely "close their book", thus isolating policy holders into a dead pool. In five years, my Plan G supplement premiums have doubled. The annual average rate increase has been 15.9%. And because of health conditions, I won't be able to pass underwriting with a different carrier.
Best video EVER on explaining Plan N! Great job!!
Thanks, Chris! Means a lot
I'm on plan N .. it:s great. The co pays that I pay far outweigh the premium you pay on plan G.
My husband and I entered medigap in the past year. I did a lot of research beforehand. We are both on the Plan N and feel 100% confident with our choice. Your presentarion was TERRIFIC by yhe way. Great job!
What insurance company did you go with ?
@@FloridaNative59 Mitual of Omaha
Thanks @@joanclayton1181
@@FloridaNative59
I am in Florida as well. All my working years I’ve always had BCBS.
I am thinking about staying with them and going with Florida Blue Plan N. They never had a “closed book” to deal with.
Wow, that’s a very comprehensive analysis. Thank you!
Outstanding video! I have participated in several Medicare seminars, and I will tell you that no one compared Plans G and N like you just did. Very helpful!
Thanks for watching and thank you for the feedback!
Probably because no one has 30 minutes to waste at Medicare seminar to just go over plan g and n alone. They usually cover Medicare broadly
@@tioswift3676 ,
Have a good day!
Before watching this I was firm plan G, now I’m seriously considering N. You explained all facets of the differences and choice factors very well.
Thanks for the feedback! Both options are excellent, but we are glad you have the chance to look at both, in depth before choosing.
@@GiardiniMedicare I live in one of the eight states which prohibits Docs from billing excess charges so the only issue is the up to $20 copays and up to $50 max ER visit. When looking at the annual premium difference, I would need to visit a Doctor 15 times a year just to break even with plan G!!! Plan N is a no brainer!
My wife and I, PA residents, chose Plan N when we first signed up for Medicare a few years ago, WITHOUT the invaluable info contained in this presentation, and we would chose it again every day of the week. My thinking then was spot-on with what was presented here. Thank you for validating our choice.
Thanks for sharing your experience! Obviously we would have to agree that you both made a great choice.
You are about the only agent that actually understands what non- participating provider is. As an administrator for providers I have looked into this for them a number of times. Providers have misconception that they will make an additional 15%. It is not a good business decision to go Non-participating. As your example is very telling, the provider would only receive an 8.5% more than the participating. Not worth the hassle explaining to the patient why you can charge this and the patient will certainly let their referring doctor know or they may look to move to a participating provider. The risk of losing business is too great for the providers business. However, most providers business people don't even understand it. Good job in explaining this.
Thanks for the feedback! I've tried to research it as much as possible, so I'm glad it paid off😅
Plan G for me. I have a condition that causes ER visits about 3 times a year. Your video has good information. Thank you.
Makes perfect sense to me! Thanks for watching
Plan N. Thanks for the awesome breakdown of the difference of the plans
Love all the info! Very informative, just one suggestion: we older people need more time to look at things so could we see the pages of info & graphs more than your handsome face? I know, I know, I can pause and look, but it's helpful to ME to see what your talking about at the same time you're talking about it. When I pause I have no sound. I like to look at the info while it's being described. Thank you. 😊
Thanks for the tip!
Very educational, Plan N!
I’m an N, but I’m well off and don’t have a worry about small charges. Also I am a believer in insuring what you can’t afford and paying for what you can afford.
Definitely agree with the idea of not overinsuring yourself when possible
If well off and "a believer in insuring what you can’t afford and paying for what you can afford", it seems like an Advantage plan would be your lean. Your comment makes me curious.
@@gericbabcock7145 You have a good point, I suspect it's because of the fear of managed care denying treatment. I'm willing (and can afford) the predictable treatment of supplement insurance, and I can afford the $20 payments to see a doctor 50 times per years if something weird came up, but why not save $20-30 month when it seems unlikely.
@@blastum I've got to make the decision soon. I've got a healthy neighbor on a zero cost advantage plan with zero cost benefits and he thinks its great. His argument is, how will you ever spend more than what you save in the next 5-10 years over a G or N plan. The whole thing turns on what you expect your health to do 'in the future', when you can no longer qualify to switch. Then again, maybe we will get universal health coverage and any extra money spent will be wasted.
I'm going A B and N when it is my time to get on MC. My parents and brother love their MA plans, but I want more flexibility and I don't like my healthcare being micromanaged. Besides, I work in rehab and the coverage is terrible, especially for Occupational Therapy.
What an outstanding comparison between these plans. You did a superb job and I am now very confident as I choose my Medigap plan. By the way my wife and I are on plan N. And we are quite happy with it.
Thanks for the kind words and thanks for watching! I think you with both be happy with Plan N for years to come
Plan G and I’m getting it in 2 months. One big reason is the Bay Area sucks for getting appointments. You always have to schedule them with doctors two or months ahead of time. getting in the same week is impossible so most of the time I have to go to urgent care or the emergency room if I want to get in within the same week.
There's no way the doctor's office is going to segregate plan N vs plan G. YES, they'll segregate Medicare Advantage vs Traditional Medicare, but they're not going to know or care about N vs G because the compensation is identical.
Your rationale doesn’t make sense. The only reason in most cases to choose Plan G over Plan N is if you have some sort of chronic condition that necessitates many diagnostic doctor office visits per year which would cause you to have to pay many copays. Otherwise, a Plan N is a much better value over time.
I also live in the Bay Area (in SF). I joined One Medical and can be seen by an NP or PA within 24 hours (if not a weekend). There is an annual membership of $199. It's only $9/month if an Amazon Prime member. My former employer is a cooperate sponsor, so I have no membership fee. They work with most insurance and Medicare.
I think I will probably choose Plan N.
Awesome presentation, most in-depth and complete I have seen. Thank you very, very much!
Thanks for watching!
Thank you. This is very informative. I would like to choose N, but because of my recent diagnosis of osteoporosis I am wondering if it would be wise to go with G.
Depends on how often you think you may have to go to the doctor due to osteoporosis. I wouldn't say it certainly means you need Plan G, but you will have to decide the amount of out-of-pocket costs you are comfortable with!
Great video with clear and concise information. Thank you!
Many retirees have plenty of money. If I had more money, I'd go with G. Excess charges are rare today. They may not be in 10 or 20 years. But I think I'll be going with N. Hoping I'll go at least another 10 years with just going to doc once a year, but you never know. Health turns on a dime. Your example shows that it would take a lot of doc visits to even the costs up.
Excess charges down the road is what made me get plan G. $20 co pay isn't a big deal
@@WhittyPics
That is what I am concerned about. What plan N is good for now might not be the same terms in the future. Medicare already started to implement a telehealth and urgent care centers $20 co-payment for plan N .
@@WhittyPics
$20 co-pay for now………
@@ItsMe-rr9nh 98% of doctors take Medicare assignment, so excess charges are not anything to worry about. The doctors who charge excess charges are predominantly psychiatrists and podiatrists. Also, it really wasn’t that Medicare “snuck in” the $20 copay for urgent care centers and telehealth. That change came about because of Covid and the fact that so many people had to get services that way instead of doing regular office visits. As a result of this, Medicare allowed them to charge the $20 copy. There was nothing underhanded about it, just a response which came about due to the lockdowns and fear associated with Covid.
Thank you so kindly for explaining the Plan N !!! Fabulous in common English
Thanks for watching!
YEP N for us in 2 years..ill just make sure to avoid excess charges on not go that Doctor
Wow! Thanks for such a great explanation! I have my appointment today to chose my plan. After reviewing this video I believe N is a good plan for me !!!
Your estimated savings projections are missing one important item: as we age, we will most likely need to visit doctor more often, thus there will be more copays with plan N. That would reduce savings of plan N in the long term.
Yes, it’s impossible to know
While that is probably the case don't forget the difference in premium between N and G will continue to grow. In my state I would have to visit the doctor 24 times per year to break even. Six months in I have had only 4 co pays to pay, so I am on track for 8 visits for the year.
N.B. I have had 13 claims this year already most of which were to deal with a shoulder problem. Most of the visits were physical therapy which does NOT attract a co-pay. Follow-up visits to a doctor often don't attract a co-pay, Co-pays are for when a doctor diagnoses a condition, treatments following initial diagnosis typically do not attract a co-pay.
So yes you will get more medical attention as you age, but the number of visits that attract a co-pay will probably still be modest.
@@JeanPierreWhite - I didn’t know about what triggers the copays, thanks for the info. I still have 2 years to decide, so there still lots of learning to do. One thing I discovered is that plans often allow moving from plan G to plan N, but not vice versa.
I would tend to lean towards plan N also
Plan N …researched as much as possible…seems the best for me! Thanks for the info!
Leaning heavily to Plan N. No one really factors in an HSA account in the decision process, especially if there is a decent balance there.
Plan N for us and absolutely no regrets. I do regret the years I paid for plan F before I switched.
Glad you could make the change. Either Plan G or Plan N are better than Plan F in our opinion
New to all of this. What is plan F?
@@thyslop1737 It's a Medigap plan, and the benefits are described on page 11 of this guide: www.medicare.gov/publications/02110-medigap-guide-health-insurance.pdf
Just know if you are newly eligible for Medicare, you aren't eligible for Plan F
The plan F is closed, so the pool of people in it is getting older by one year every year, guaranteeing the rates will increase rapidly due to more claims. Younger people with better health make insurance work because they have fewer claims. @thyslop1737
SO MANY NUMBERS!! But you explained it perfectly! I’m in Plan F and love it. I’m telling my friends who are about to go on Medicare to choose Plan G because they see multiple doctors and have hospitalizations occasionally. I would rather pay a higher monthly premium than worrying about copays throughout the year. One and done. Thank you for the info!
I was going in wanting get plan g but after watching several videos it was better for me to get plan n. I would have had to pay way more in plan g monthly premiums vs the small copays with plan n.
I just signed up and got plan n. Money per month only makes sense in my situation. Also got rx plan that has 0 to 6 dollars for no premium on that
Great presentation and breakdown. We have recently selected plan N but were thinking of switching over to plan G. After watching, it makes more sense to stick with plan N. Thank you for your explanations and data.
Thanks for watching! What was making you think about changing to Plan G?
Just met with a Medicare advisor. He was pushing advantage plans. I kept asking for medigap info. He only gave me plan G options.
I made an appointment with a different advisor
Good call!
Highest commissions are granted when a Medicare advantage plan is sold. Run away fast from that agent!
Kudos!
Plan G sound better, just to avoid co-pays when visiting. Great comparison at the end, between Plan G and Plan N, about total potential lifetime cost differences. One thing that could be even more helpful, though this was great, would be: instead of just showing total potential savings after 25 years (age 90), also show at other points such as average life expectancy, or every 5 years. Thanks much.
Good idea! Thanks. We will definitely do an updated video in the future so I'll keep that in mind
I'm still thinking Plan Advantage. I think for 15 or 20 years, its likely that we will use medical care seldom (looking at our parents). However, after that, it would probably be nice to have plan G. That switchover thing is horrible. Can the difference in premium be put in an HSA for the next 20 years? Of course not, so being driven towards plan G for the same reason I never had a High Deductible Account when working -> too much risk before you can build up any decent balances in a HSA.
Nothing wrong with an advantage plans as long as you know the pros and cons compared to Medigap. They can be a great value for many people.
Nice job with the explaination!! Have 6 months before deciding.
Thanks! Are you leaning towards one?
Excellent! I agree with Mr. Westfall's comment below here. That is the best comparison of Plan G and Plan N I have ever heard. I have a Plan N. But I would like to add something: if you have to undergo underwriting for a Plan N, it is amazingly easy to pass underwriting. You have to be close to death before you would fail underwriting. You are only asked if you are currently on very, very expensive medical treatment such as for cancer. The average person should not fear underwriting and would easily pass underwriting.
Thanks! As far as underwriting goes, I wouldn't say it's "amazingly easy." I do show real-world underwriting questions at the 7:22 minute mark in this video: ruclips.net/video/tfVYpougjWM/видео.html
I almost DIDN'T like and subscribe because I don't want "The Secret of Plan-N" to be popularized...we'll loose the price advantage, LOL! (But I did like and subscribe).
haha appreciate it, Dale!
Especially whereas a previous comment stated that he was going to be age 65 soon and has a shitload of health problems and is leaning towards plan N (He might regret that and in his situation most likely plan G will not be an option for him with all his health problems later on)
Lots to consider. Great review. One difficulty is that you only choose once. After that you're not doing this kind of comparison btwn what 'could have been.' So in a way it's less a financial decision and more of a lifestyle/emotional one.
There is a lot to it, but it’s still possible for many people to change from one to the other if they can pass health underwriting. One of our upcoming videos will highlight that process
Plan N for me and I’m an agent!
We would agree! Thanks for watching
I'm a higher maintenance person. Plan G is my go to. I would easily make up the plan cost difference in copays.
Make sense!
Leaving my career in August and been educating myself for over a year now. Been in touch with a local broker and she is so G. To her credit it's all about the guaranteed issue for SEP. Yet I've been leaning towards N and now have a phone appt. with your Gwynn coming up ! Many thanks !
I avoid doctors and hospitals at ALL cost, so I am 98% sure I will be choosing Plan N. If I can afford it, Im going to put into savings the difference in monthly premiums from Plan G to Plan N and that "cushion " will be there for any co pay I may end up having. This will be in addition to my small HSA account that I saved during my last year of employment. On that note, IF I had known years before about HSA accounts and had the option of getting one, I would have stashed a ton of money into it, because THAT would have greatly aided in my future helathcare needs.
Sounds like Plan N makes perfect sense
If you don't plan to ever go to the doctor you don't need either one. Or Medicare. Just skip all of it and keep your money.
I avoid doctors and hospitals as well. Was leaning towards plan G, but plan N sounds like it might be a better choice. Plan on retiring next June.
Outstanding video. I have a meeting scheduled with you in a couple of weeks and this really helped me prepare for that.
Glad it helped! We look forward to helping you soon.
So what's a 'worst case scenario ' dollar wise ( give or take) that can be charged out of pocket for plan N excess charge? Because the cost for a procedure is still locked in by a standard medicate charge. So how much is 15% more for a crazy heart or cancer procedure starting from what Medicare allows?
Hate to give an unspecific answer, but it's really impossible to answer. In theory it would probably be tens of thousands of dollars for long term chemotherapy or dialysis treatments. However, in reality, we have never seen anything close to this and as far as we know, neither have any of our other broker colleagues.
Be aware that the 15% excess charge is applied to 95% of the medicare approved amount. So it ends up being less than 15% in practice.
I [age 68] go to Dr maybe 5 times a year and that includes eye dr so I think N will be for me unless they are very close in price.
Also what about all the other plans? ABC,etc??
Very informative. Will probably go for plan N. It’s a per person decision right? Meaning my wife could do plan G if that’s to her advantage. What about MOOP advantages of plans K and L? Thanks very much!
Definitely a per-person decision, so yes, she can do what she thinks is right for her! Funny you mention Plan K and L since I'm making a video about them in the next couple of months, but long story short, we don't think they make much sense compared to Plan N.
GREAT video! I'm leaning towards N for the reasons stated within, but I'm having a bugger of a time trying to find historical supplement monthly premiums data for (in my case) Aetna and Blue Cross. Can anyone tell me where I can find this information?
It will take a decent amount of time and effort, but I show how to do it in this video ruclips.net/video/j66oGQqz2Mc/видео.htmlsi=OIo4zYBs-n7N12C4
I believe that Minnesota also does not have excess charges.
That's correct. I did include them on the map of States that don't allow excess charges at the 17:07 minute mark of the video
So happy to come across your post. I was happy with F. Every year i would call her and ask if F is still the best. She said yes continue on F. She sold me F and I believed it, except this year. I researched a lot and gave up and stayed with F. I thank you for your analysis i will hope i can get N now.
Why was MN grey on your map for Plan N?? I live in MN and thinking about plan N for my situation.
Medigap plans in Minnesota aren't standardized by the typical plan letters, so Plan N is not available there. www.medicare.gov/health-drug-plans/medigap/basics/compare-plan-benefits/minnesota
No question. Plan G is the best.
My Medicare is slated to start soon. I originally chose Plan G out of fear because I had a previous stint with cancer 6 years ago. I was concerned about what would happen to me financially if the cancer came back. I watched several videos on Plan G vs. Plan N. Then I changed to Plan N (while there was time to avoid medical underwriting). Your video has convinced me I made the right choice choosing. Plan N. You did a great job breaking down the differences between Plan G and Plan N. Thank you very much.
Thanks! nice job taking the time to look into it on your own. You very likely did make the right choice.
Plan n here !! 3 years no inceases for me !!
Hopefully the same is true for this year!
Hi there, can I ask you what company that you have?
@@ItsMe-rr9nh Atnea
I thank you!
A couple things still leave me uneasy with plan N. The first is the assumption that the law of averages will apply to me or my spouse. I am in good health right now and my spouse is in fair health. I don’t know what the future holds, but family traits suggest that the average expenses may not apply for me and my household. The second is that in order to realize the payoff benefit, you must live out the 25 years on your chart. At a minimum based on age of eligibility at 65, one needs to live to be 90. I have no guarantee that I or my spouse will live that long. So plan G still looks to be a more stable choice over all. Just my two cents.
Thanks for your personal input! Those same reasons are why most people still choose Plan G. But to be precise, for the payoff benefits, I only showed the savings over 25 years and how they grow. The savings begin in year 1 for the majority of people who choose Plan N.
Great video. Thank you.
Plan N for us.
Plan n
Do you work with NJ residents? Your site is saying you will pass on info to another company when I click that I am in NJ? Can I work with your company??
Send us an email at info@gmedicareteam.com and we will get you set up with an agent in our agency!
I live in PA, so without the fear of excess charges I’m leaning towards plan N, but if I see a Dr. in NJ for example, could they charge excess me charges?
They could in NJ since it's based on where the services are done
My wife and I are fortunate to get on plan F when it was available.
Is there a reason Plan G isn’t appealing as an alternative?
I have heard F is now a closed plan, meaning no one can enroll in it moving forward....which means premiums for plan F are going to go up! The people in that plan will continue to age (which often includes greater likelihood of more frequent and/or more serious illness). No younger (likely healthier) people are entering the plan which will be the reason these premiums could go up a lot. My concern is that medicare can (and likely will) "close" ANY plan at any time with the same result. :/
Very comprehensive comparison.
Should we go for a company with attend age premium or community based premium?
I am based in NJ.
Depends on the pricing for the actual plans in your area. Most of your options will be attained age in NJ, so that will likely be the way to go.
@@GiardiniMedicare
Thanks for quick response and guidance.
Just turned 65 and still in very good health. Will continue on my employer’s qualified health plan till I retire in a couple of years. Then, it’s on to Plan N for sure.
Talk to an agent to be sure you handle Part B correctly while you are still working. If you do nothing you may find yourself subject to a lifetime penalty on your Part B premium.
Can't find pdf's🤷♀️
What's up with Wisconsin and Minnesota?
Wisconsin, Minnesota, and Massachusetts don't standardize Medigap plans by the usual plan letters. www.medicare.gov/health-drug-plans/medigap/basics
We went with Plan N and are very happy with it. I pay $83 a month and my husband $88. We looked at how much it would go up over the course of 10 years and Plan G would cost a whole lot more. We are located in Western Pennsylvania so no excess charges and the co-pays of $20 or less are not a problem.
That sounds like a pretty straightforward decision. Thanks for sharing your experience!
Can the price of copays on Plan N rise over the life of the coverage?
Unfortunately, we don't have a good answer for that. The copays can change according to the regulations that were written, but we don't know if people with current Plan N policies would see their copays change since the whole point of a Medigap plan is that the policy details stay the same over time. We have asked people in charge of large Medigap insurance companies this question and have never received a definitive answer.
Good
Plan N!
The information in this video, and others by this group, is good. Question: Is the speaker AI generated? There is so much random movement that it is difficult to watch.
No, I'm real🤣 I guess I just move in weird ways🤷♂️
@@GiardiniMedicare Okay, this is good news. 😄 All kidding aside, really appreciate the information you are putting out with your videos; especially regarding the Plan G vs. Plan N topics. These have been some of the most helpful videos I have seen on RUclips.
@@tacticaltruth8118 Glad they have helped you! I like to think I am improving in front of the camera, but it is a tough skill to learn
Thanks, well worth watching.
Definitely going with Plan N!!!
I'm signing up for a supplement plan N for the first time for September 2024. If I choose company A during the open enrollment period can I:
1. change from company A to company B (still keeping plan N) without underwriting after 6 months ?
2. change from company A to company B (keeping plan N) during the yearly enrollment period for 2025 without underwriting ?
Thank you
The answer is most likely no, but it will depend on which state you live in. In most cases, after your 6-month Medigap OEP, you will have to go through underwriting to change even from one Plan N to another.
@@GiardiniMedicare I live in Connecticut. In researching this, if I understand correctly, it looks like I can change from one plan to another without underwriting: N>G N>N G>N
But can this change only be done during the yearly Oct/Dec window or can it be done any time?
I read where one person (Connecticut) took the high deductible G plan, then if she anticipated a high cost procedure, switched to regular G, then back to high G afterward. Of course this wouldn't work for an unanticipated issue like an accident, cancer dx, etc. Is this something that can be done, or wishful thinking on her part ?
@@x.y.7385 I believe that is correct in Connecticut: portal.ct.gov/-/media/cid/medigapfactsheetpdf.pdf?la=en
However, we are not licensed in Connecticut, so we can't provide a better answer unfortunately. if you use this link from our website it will get you connected with an agent licensed in Connecticut if you would like: gmedicareteam.com/map/
I choose plan N
I'm in good health and on no medications, nonsmoker, non-drinker and I'm paying almost $200 per month for a plan G. I question the amount I'm paying listening to your comparisons. I'd like to consider switching over to plan N but I'm not real happy with my broker. He never seems to answer my questions or he tells me to call Cigna directly and then let him know what the answers are LOL any suggestions?
Our suggestion is call us instead😅... Also, which PDF's were you unable to find?
I would be fine with calling you guys. I really prefer sitting in front of someone but this gentleman is only 20 minutes away and he does not seem to be up for that. So I may as well go with another firm that I feel more comfortable with. To be fair, he's probably a good Agent but it's a personality thing. I like to ask questions and just have them answered. When I asked him a question he goes into this complete detail of things that don't even apply to my question and by the time he's through I don't even know what he just said . Also, you had mentioned in the beginning of the video that there were PDFs in description below but I'm not able to locate them.
@@lovingjesus5184 If you prefer meeting someone in-person, we get it! You can always give us a call if you would like, but if not, no big deal! As far as your current plan being almost $200/month, how good or bad that is, depends on the state you're in.
One thing you could do before even talking to a new broker is by looking at Plan N and G prices on Medicare.gov to see if changing makes financial sense. If there are cheaper options, then we would suggest finding a new broker if you current one isn't a good fit (Which happens. We certainly aren't right for everyone either).
Also, I think this is the PDF you are referring to, but let me know if you're looking for a different one: www.cms.gov/Medicare/Health-Plans/Medigap/downloads/Plan_N_Guidance2.pdf
How come Plan D is not as popular it is basically Plan G without the excell charge and plan N without the copay it is basically a hybrid between these two plans
Great question! The premium for Plan D rarely makes sense when compared to Plan G or Plan N based on the coverage you get
Plan D is not widely offered, even though it is a good plan.
Plan N
Love your videos. I was already thinking of going with Plan N, and your explanation of excess charges has convinced me fully. Plan N it is. Thank you!!
Plan N for wife and I.
g
Plan N or plan G versus advantage plan?
We will be publishing that video in the fall! Need more details about 2025 prices to be released first.
Can I switch from N to G later on? - What if I go to the doctor or EC 10 times a year and the ER 5x a year?
Unless you are in a state with unique underwriting rules like a birthday rule or an anniversary rule, if you want to change from N to G, it will depend on your health and ability to pass medical underwriting. Plan G would likely save you money if you go to the doctor and ER many times throughout the year, but that is the risk you take when choosing a plan!
Not every doctor visit will attract a co-pay and not all co-pays are $20. One co-pay I had at my family doctor was $14. The co-pay is $20 or 20% of the medicare approved amount, whichever is smaller. If the medicare approved amount is less than $100 you pay less than $20.
In the scenario you presented you might pay $200 in doctor co-pays and $250 in ER visits, worst case. One has to ask why would you visit the ER 5 times a year and all 5 times not get admitted? If that was the case the decision to go to the ER vs an urgent care facility is something you would have to ask yourself. In fact the $50 ER co-pay is designed to discourage unfettered use of the ER, which drives up medical costs and premiums.
On a plan G a patient can visit the ER as many times as they want and not incur any expense personally other than the $240 annual deductible, this encourages abuse of the ER vs using an urgent care facility. This is one reason why Plan G premiums tend to go up more quickly than Plan N. Even if you are responsible in the utilization of the ER, the other people in the same risk pool as you might not be and you end up paying for their indiscretion.
Makes sense if people pay for Plan G, they will have a tendency to 'abuse' it more therefore cause plan G monthly premiums to increase.
@@jr38499 Correct. An "all you can eat" type of plan will encourage consumption. The small speed bump of a $20 co-pay is designed to make patients consider the need to see a doctor without it discouraging genuine need for care.
@@jr38499 That was essentially why Plan F is no longer available for new enrollees
My wife and I have Plan N. I only see my primary care medical provider 1 time a year for the Medicare wellness check. My wife, who had open heart surgery in Nov, only sees a provider less than once a month. My sister, who is a year younger than my wife, and lives in the same area, pays $60 a month more for her Part G than my wife's Part N premium.
What a great video on explaining Plan G & Plan N. You mentioned switching out of a Medigap plan at any open enrollment period for an Advantage plan if finances became an issue. Advantage HMO plan premiums are $0 cost per month. Advantage plans are guaranteed issue. That's important for people to know since the longer one lives the higher the monthly premiums become.
If you move to another state or insurance drops are you still guaranteed plan insurance from another provider on plan N. Also I live in PA. There are no excess fees. Can I be excess fees when I am in another state
If you move with Plan N, you will get to keep your Plan N and you won't have guaranteed issue rights since you aren't losing coverage. Also, your insurance company can't drop you unless you don't pay your premiums, or the company itself goes bankrupt. If you don't pay your premiums, you wouldn't have guarantee issue rights, but the company going bankrupt would give you access to GI, but not for Plan N as you can see from Medicare.gov www.medicare.gov/health-drug-plans/medigap/ready-to-buy... Lastly, you could be charged excess charges outside of PA. Although, it is still very uncommon.
Great video and explanation It brought back medical billing to me. Old medical office manager.
Question? Can someone change from plan G to plan N without underwriting review in Texas?
Outside of Medigap OEP, you would likely have to go through underwriting to make that switch in Texas. It is not one of the states with more lenient rules.
@GiardiniMedicare Thanks much. Great content, keep it up!
@@kathleenepugh9495 Thanks for watching!
Thank you, the information was clear and informative. I was leaning toward Plan G but now think Plan N is an acceptable option based on my current needs and finances
Extremely helpful video. I’m a few years away from 65 yet but always interested in such information
Plan N
So first paying 4 grand a year for parts A,B,D, plus the supplement and THEN also having to pay copays with Part N! 4 grand is a quarter of my income a year!
Unfortunately, your math isn't far off from reality. It's worth considering Medicare Advantage for affordability.
On plan n do you have pay anything for physical therapy
If you haven't met the Part B deductible, you must pay towards that. If your deductible has been paid for the year, you wouldn't have charges for PT if they don't use one of the CPT codes discussed in the video.
There is no copay for physical therapy visits. The only exception is the first visit, if they evaluate your condition and establish a treatment plan then that first visit may attract a $20 co-pay.
I had PT this year with plan N. Paid $20 for the visit to the orthopedic doctor, none of the PT visits had a co-pay. The doctor was quite smart. He set a follow-up visit after the planned PT sessions but told me, if you are doing well after the PT treatments cancel the follow-up with me. Which is what happened, he only wanted to see me again if PT failed.
Happy I choose plan N for my
Husband. He has Dementia.
excellent info /thanks
Thanks for watching
As agents push people to Plan N who would normally choose Plan G, the premiums for Plan N will become more like Plan G because the utilization between the two groups will become more similar. As that happens, the 'natural G plan' patients will pay higher premiums than expected at sign-up AND the differential Plan N costs.
From the consumer side, a person who anticipates low utilization will want a plan that does not include high utilization participants since there is intra-group subsidy going on. The high deductible plan (HDG) has the highest barrier to entry. This can be seen in the plan's relatively low COL increases over time, which I expect to continue to be true.
Who are natural HDG participants ? Not those in 'average' health at age 65. Only those in excellent health, and who specifically do not have lifestyle risk factors. This is a small group, but it is nice for them that a plan exists that matches their cost to the plan to the premium.
It's great to anticipate "low utilization," but in reality, our health can change in an instant despite our expectations. HDG is a great option for some people, but it's not as straightforward as saying healthy = HDG. Either way, thanks for watching and for adding your perspective to the mix!
This video is EXCELLENT. Thank you so much.
I have Mutual of Omaha and they screwed me! They routinely "close their book", thus isolating policy holders into a dead pool. In five years, my Plan G supplement premiums have doubled. The annual average rate increase has been 15.9%. And because of health conditions, I won't be able to pass underwriting with a different carrier.
No Plan G versus Plan G-HD videos?
Not yet!
@@GiardiniMedicare
Hope You Would Do One On That!!!!!!❤❤❤❤
I'm researching bc moving into area that doesn't use my current plan. I'm thinking about all the info in the video
Do you currently have a Medicare Advantage plan or a Medigap plan?
Planning to go to plan N in January. Yet, we'll see.