A supplement is already insurance to cover our insurance (part A and B) and now we need an indemnity (insurance) to cover our supplement. When will this end?
@@KimikoSmith-jb5nh Indemnity plans is a term used to describe an insurance policy that pays the policy holder, not the medical provider. There are many indemnity plans that pay the policy holder in the case of cancer, critical illness and so on.
I am a super-LOW income person in California and after 1 year on Medicare, which was Medicare Advantage, and just today I “unenrolled.” Was told I MUST enroll by January 1st 2025 in a “credible” part D supplement. So only parts A,B, about D for me. But the he State of California with MediCal (Medicaid) might kick-in to cover the co-pay and maybe a reduced price “part D.” Actual I don’t know for sure but this is the way it worked with the Medicare Advantage so I expect some help with the supplemental plan. Why did I make this move? Because Medicare Advantage in California is just so very terrible. So I MUST switch. Where do I find the CHEAPEST part D plans? And so what am I to pay for any treatment? 20% plus the cost of the drugs under the part D coverage I plan I am on? If anyone knows and is willing please give me your advice. Thanks
Just wondering if you have a video that covers having an HSA account and selecting the correct supplement to maximize the use of such account without risking higher out of pocket when it empties. I know that is a lot but thought i would ask.
Yes, i have a an article on HSA medigapseminars.org/hsa-and-medicare/ As far as best plan, I suggest Plan N. Use your HSA for Part B premiums and Part D drugs - which can get epensive. I would not do high deductible plan because it is 100% exposed to inflation.
My GHD, since 2022, is helping me to stay healthy with the incentive to avoid the high deductible. The premium will be $40 in October from $34. I would probably be less healthy with a G plan.
I think you said in one of your videos (can't remember which one) that ill people who want out of advantage plans are being forced into Plan G, which will likely drive G premiums up even more. Question: Is that forcing to G happening in all states, and will that increasing premium risk also be seen in High Deductible G plans? Thanks for your clear videos
Well, not quite. If a person has a guarantee issue right into a supplement- like when they moved states and their Advantage plan can't move with them - one of the Guarantee Issue choices is Plan G. The total percentage of plan participants that get a Guaranteed issue plan are about 3%, It's not enough by itself to have a significant impact on the lan premium.
Mathew, How free are you to switch supplement plans if you start medicare with a supplement plan? If i begin with a G, could i switch w/o underwriting years later to a N, or to a Hi-deductible G? If so, would i have to stay with the same company?
You can change supplement plans any day of the year, 365-days a year as long as you have no critical or chronic illness that require ongoing or unusual costs to the insurance company (you pass underwriting). Some states have rules that allow you to change supplement plans without underwriting during a brief window of time during a year, but there are limitations and they do not compensate agents, so we could not help you during those periods.
I don't have a Medicare Advantage plan, but wouldn't a zero premium MA plan also be able to adjust for inflation by getting a bigger capitulation payment from Medicare?
Thumbs up two days before the presentation because I'm sure it will be extremely informative. Standing by.
Much appreciated!
Thanks for the information. Always informative. I have a plan G through your company and I have had it almost a year now.
Great to hear!
Fantastic information and very helpful. Thanks for sharing.
You are welcome
A supplement is already insurance to cover our insurance (part A and B) and now we need an indemnity (insurance) to cover our supplement. When will this end?
I am referring only to the high deductible Medigap plan in that case.
@@MatthewClaassenCMT , is an indemnity plan the same thing as critical ill, cancer, and cardiac plans?
@@KimikoSmith-jb5nh Indemnity plans is a term used to describe an insurance policy that pays the policy holder, not the medical provider. There are many indemnity plans that pay the policy holder in the case of cancer, critical illness and so on.
I am a super-LOW income person in California and after 1 year on Medicare, which was Medicare Advantage, and just today I “unenrolled.” Was told I MUST enroll by January 1st 2025 in a “credible” part D supplement. So only parts A,B, about D for me. But the he State of California with MediCal (Medicaid) might kick-in to cover the co-pay and maybe a reduced price “part D.” Actual I don’t know for sure but this is the way it worked with the Medicare Advantage so I expect some help with the supplemental plan. Why did I make this move? Because Medicare Advantage in California is just so very terrible. So I MUST switch. Where do I find the CHEAPEST part D plans? And so what am I to pay for any treatment? 20% plus the cost of the drugs under the part D coverage I plan I am on? If anyone knows and is willing please give me your advice. Thanks
Just wondering if you have a video that covers having an HSA account and selecting the correct supplement to maximize the use of such account without risking higher out of pocket when it empties. I know that is a lot but thought i would ask.
Yes, i have a an article on HSA medigapseminars.org/hsa-and-medicare/ As far as best plan, I suggest Plan N. Use your HSA for Part B premiums and Part D drugs - which can get epensive. I would not do high deductible plan because it is 100% exposed to inflation.
@@MedigapSeminars Thanks, that is what I was thinking but I'm new to all this so had to ask
Can Medicare Supplement (G) Plan mthly cost be increased more than once per year?
With some insurance companies, yes
Yes, definitely
My GHD, since 2022, is helping me to stay healthy with the incentive to avoid the high deductible.
The premium will be $40 in October from $34.
I would probably be less healthy with a G plan.
Can I get an indemnity policy that covers my Plan N copays & excess charges?
No
I think you said in one of your videos (can't remember which one) that ill people who want out of advantage plans are being forced into Plan G, which will likely drive G premiums up even more. Question: Is that forcing to G happening in all states, and will that increasing premium risk also be seen in High Deductible G plans? Thanks for your clear videos
Well, not quite. If a person has a guarantee issue right into a supplement- like when they moved states and their Advantage plan can't move with them - one of the Guarantee Issue choices is Plan G. The total percentage of plan participants that get a Guaranteed issue plan are about 3%, It's not enough by itself to have a significant impact on the lan premium.
Mathew, How free are you to switch supplement plans if you start medicare with a supplement plan? If i begin with a G, could i switch w/o underwriting years later to a N, or to a Hi-deductible G? If so, would i have to stay with the same company?
You can change supplement plans any day of the year, 365-days a year as long as you have no critical or chronic illness that require ongoing or unusual costs to the insurance company (you pass underwriting). Some states have rules that allow you to change supplement plans without underwriting during a brief window of time during a year, but there are limitations and they do not compensate agents, so we could not help you during those periods.
I don't have a Medicare Advantage plan, but wouldn't a zero premium MA plan also be able to adjust for inflation by getting a bigger capitulation payment from Medicare?
I address this in this video. In 2025 that payment is decreasing despite higher costs