I chose the HDG plan because it was over $1000 per year cheaper than the G plan. Remember that Medicare always pays 80% of a claim so 1/5th of a bill is my responsibility. To put it another way; I need to incur greater than $5000 in medical claims to incur $1000 of additional out of pocket to eat up the savings. That may happen on occasion but not likely routinely.
Maybe I'm confused, but this is the way I see it. For me, in my county, one particular company offers a High Deductible Plan G (HDG) for $64/mo. The same company offers a regular Plan G for $284/mo. The total difference in the premium cost for the year $2,640 more for the Regular Plan G. The high deductible plan comes with a $2,700 deductible; the difference between the high deductible and the premium cost of the regular plan is $60- If you opt for the regular Plan G, you have no choice but to pay the full premium, an additional $2,640 for the year. Whereas, the total premium for the HDG comes to $768, and if you happen to be relatively healthy, you can set aside the other $1,900 for a future year, or some other investment. If you have the misfortune of becoming very ill during the year, you're Max Out Of Pocket is capped at $2,700 for the year; after which everything will be covered in full.
Hi Charlesluck8921 - that is great information! You might not see that large of a price difference in every county, so it will vary for each person. We are glad you found a plan that works for you!
All true...PLUS you COULD have pocketed the premium difference at the point in time when you need to exercise the $2700 deductible. So, your Max Out of Pocket MAY be MUCH less than $2700....even under the scenario you show.
If you are basically healthy, maybe only on a statin and you exercise regularly, not overweight, eat right, don’t smoke, glass of wine a few times a week….HDG is an obvious choice.
Informative video. Thank you. Medigap Plan G-HD is a no brainier in NY (and I believe Connecticut & Washington). Cost for G plans in NY are between $250 & $480 a month compared to $60 a month for a G-HD. In NY we can change plans at anytime of the year with no underwriting. So if you're expecting big bills or get sick you can just change to another plan the first of the next month. It's the best kept secret in medigap polices for us in NY!
Ok, I woke up With hearing problems and eye problems suddenly yesterday. My eyes are still red and burning. I'm having trouble hearing. I was trapped in a drowning car in the monsoon of storm Debbie in Central Florida just 3 evenings ago. Water from a large creek was coming up to my computerized electric car. I couldn't get the windows down, couldn't get the door open, horn, lights didn't work. It was 2:00 AM. There was also sewer water from under the roads. I had 2 tiny Chihuahuas with me. I put them on the dash. I had a small axe under my seat. To my shock, it didn't break a window or open a door. I was hitting repeatedly with all my strength. Water coming in a car doesn't gush out quickly when you're in deep. The walls of the car contain the water in flash flooding. This is how people drown. My eyes, ears, hair, body were covered in sewer water with chemicals, mud, grease. I've had repeated showers and baths. Now I know that water did something to my eyes and ears. I couldn't hear well for the last 3 days. Does anybody want to buy a house in Florida? I'm leaving. Alaska sounds good to me now. By the way, I kicked and kicked laying back, with my feet and legs , plus then the weight of the water pushing inside the doors, jarred my driver's door a little open. Then I used the axe in that crevice along with my intermittent kicking. I despise computerized electric cars now. They kill people and children and animals too.
I chose HD-G for both mentioned reasons. I'm cost conscious and the premium here in South Florida is much lower than for regular G or N. And also because I'm not expecting a huge amount of medical care. Even if it turns out that I will need a lot of care, the premium savings of HD-G will almost make up for the higher deductible, so it won't be a great loss.
Hi Carl, we're thrilled to hear this! We're glad you chose the plan that is cost-effective for you and it still covers your healthcare needs. Thanks for sharing :)
A good review. HDG is only a good choice if you are pretty healthy, and expect to stay that way. Whereas regular plan G is best for people with worse health. We are both MDs. My wife went on plan GHD because in our county it is $1400 less per year. Because everyone pays the $230 Part B deductible, a basic annual visit is going to cost the same. So if she doesn’t use significant services and is healthy, she can bank about $1400 per year. After 2 years she would have saved enough to cover the deductible. Most healthier people only have a more major event every 5 years or so. The other way to look at it is that she is really only on the hook for $1300 per year, since the $1400 savings offsets the $2700 deductible. So it is pretty good odds on average for her.
@@randolphh8005 That's great to hear, Randolph! We are all for beneficiaries saving money and doing what they think is best for their healthcare needs and budget. It seems that you both know what you're doing :)
@@randolphh8005 Here in GA, HDG is only about $77 a month cheaper than Plan G and about $43 a month than Plan N, so to me there isn't enough savings to consider.
Plan G high deductible in my case cost $50/mo while G costs $215/mo. My wife and I live in Florida and we've run the numbers. My wife and I have saved over $4000 in our first two years. For us the annual cost of Plan G would be, premium $215 x 12 = $2,580 + $226 = $2,806/yr That's $2806 per year every year no matter how much health care we need. With Plan G high deductible it's premium of $600 + $226 = $826yr plus our 20% share of any healthcare. The "high deductible" is achieved from paying the 20% Medicare B doesn't cover. So to hit my $2700 deductible I'd have to have $13,500 in care. My MAX pay at that point is $3300 for that year. It stays at that point even if I use $200,000 of care. It is the most I will pay in any year. To break it down monthly, our cost in a high use year is $275/mo Cost in Plan G every year is $234/mo Our "risk" if every year is a high healthcare year is $41 more per month. In a healthy year where little medical care is needed you can save a lot. That's how my wife and I have saved over $4000 in our first two years. I know plan G's are cheaper in some states, just do the math. Your mileage may vary! Glad you're talking about HD G at all!
We understand how it can all be confusing and overwhelming! Feel free to give us a call at 817-249-8600 if you ever have any questions about the plans in your area.
i suspect this is by design they want u in the grave very quickly once u stop being productive member in society in their eyes. I do not live in US but this system u have there is ridiculous
Thanks for the video. Many of us who have been in the workforce in recent years have access to Health Savings Accounts. I contributed many years to an HSA, and plan to retire early next year. In fact, I have not touched my HSA at all, although I have stopped contributing due to my impending retirement plans. The HSA leaves me with a nice cushion to use for a high deductible Plan G policy, which is what I plan to do. So I can pay my high deductible with tax free dollars, which seems like a big win to me. My state also allows me to switch medigap plans any time throughout the year without underwriting (and plans must be community rated only), so I feel a high deductible Plan G is the best choice for me when I apply next month, and if I find it is too expensive (in good health now, knock on wood!), I can switch to another medigap plan.
📌Learn more about regular Medigap Plan G here: ruclips.net/video/XtqfO22-Tss/видео.html 📌Join our exclusive Medicare Q&A Facebook group to have your questions answered by Danielle and her team: facebook.com/groups/BoomerBenefits 📌New to Medicare? Attend our FREE Medicare 101 Webinar: boomerbenefits.com/medicare-101-webinar/
Great video, thanks. My spouse and I are both 68 in Florida. This is the differences in one carrier's annual premiums. G=$5,640, N=$4,824, GHD=$1,416. What would be the drawback to a GHD in this case.
Looks like if you don’t need lots of health care and you always have 10,000 of money in the bank you usally don’t touch,hig dec.plan g sounds like a great choise.But like Medicare adv,it’s based on zipcode,as I live in a rich area and prices are high.
HDG is interesting, but as an agent I have seen clients go from Healthy at age 65, to cancer treatment and surgeries a month later. HDG doesn’t sound so great when the 2800 deductible is paid yearly instead of a one-time thing. Still HDG may make sense for some people who can pay out 3400/year. In the example I am mentioning, the client is only paying about half that. It's a lot to consider.
Good video, sad that it is so difficult to get down to the actual cost of HDHP Plan G vs Regular Plan G so that we can compare these two options if offered
We totally get it! But know that we are here to help uncomplicate it for you. If you are ever in the market to shop and compare plans in your area, don't hesitate to give us a call at 817-249-8600.
It’s deliberate. The system isn’t a healthcare system, it’s a for-profit insurance business, rigged against in the same way that casinos are. Since we can’t know what illnesses or injuries we might suffer or how long we’ll live, and insurance companies and doctors can raise rates as high as they want, it’s all a huge gamble arranged so that the consumer almost never wins.
I also chose HD-G plan due to my budget through Boomers. I have selected plan D with Anthem for medications. I still need dental insurance, I'm doing research into best options for me.
Hello Great explanation. I'm trying to learn Medicare. Do you have a training video about explaining the Part D stages to a beneficiary? What to say and what to avoid? Thanks.
1 - If you are enrolled in a HDG plan in Florida and have used $1900 of the $2700 deductible and move to another state and enroll in another HDG does your $2700 deductible start from $0 or does the previous $1900 get factored in? 2 - If you are enrolled in a HDG plan in Florida and move to a state that does not offer a HDG plan is there an exemption to choose a new plan possibly G without underwriting involved?
Hi there, When you move, your policy will travel with you no matter if the new state doesn't offer your plan. Your premium will likely change because of your new zip code, so if you wish to change from one carrier to another or one plan to another, you'd likely need to go through underwriting depending on the state. However, if you move to a new state and stay with the same carrier and same plan and all you do is update your address, then your deductible should carry over.
I have the regular plan G, but they do not pay everything after Medicare costs. They have been saying it's due to the deductible all year long, but I have paid my deductible 2x over!
Hi Cheryn, when you have regular Medigap Plan G, your only out-of-pocket cost for Medicare-approved services should be the Part B deductible, which was $233 in 2022, and $226 in 2023. If you are paying more than the Part B deductible, then either Medicare denied your service, or there was a billing issue. If you are a Boomer Benefits client, please give us a call at 817-249-8600 and we will look into this for you! If not, we recommend calling your plan and ask about what is going on.
Contact them. They will refund the difference. That happened to me. I didn't even have to contact Medicare, just the billing dept. at the provider. They contacted Medicare for me, and a few weeks later I got a check from Medicare.
It would have been helpful if the video included information on how much the premium difference might be between regular Plan G and High Deductible Plan G.
Hi there, a Medigap premium depends on many factors, such as your age, gender, zip code, tobacco use, carrier, and more. So, it truly varies from person to person. If you'd like, you can always give us a call at 817-249-8600 for a free quote comparison!
I know plan G here in Pinellas County, Florida with Mutual of Omaha is $185 per month. AARP/UNITEDHEALTH is $194.00 per month, BCBS was $193.00. Hope this was helpful.
That's the secret they hit you with a penalty after....they wanted to stick me with a ridiculous plan that would penalize me if I didn't take it 😮 dealing with prescriptions ..I told the REPRESENTATIVE I didn't need pills but still I was being intimidated
I would mention that even when the deductible has not been met, we're still only responsible for 20% of the part B after meeting Medicare's part B ded.
Hi there - you will need to purchase a stand alone plan that cover dental, vision & hearing if you have a Medigap plan. Some Medicare Advantage plans do offer these benefits, but Medigap plans do not.
Hi there - The monthly premium depends on your zipcode, gender & tobacco status. Your Part B income is what is based on income. Give us a call at 817-249-8600 and we can review the pricing in your area.
As I understand it, the maximum out of pocket in 2023 for medical expenses under either a HD F or a HD G would be $2700 (i.e., not $2926 for the HD G). Is that correct? I am 74 years old and currently have a $0 Premium Medicare Advantage Plan with a MOOP of $5500. I am considering switching to a Supplemental Plan so that I don't have to worry about networks and pre-authorizations. I live in New York State which is Community Rated and I understand that I can switch to a Supplemental Plan without medical underwriting.. Currently, the premium in my area for Plan G is approximately $260/month and for HD G the premium is approximately $60/month. If I decide to switch to a Supplemental Plan, it appears that in my case, HD G makes better financial sense than Plan G given the $2400/year difference in premiums between the two plans. Any comments? Thanks and thanks for your very informative videos.
HI Clark - you are correct! HDG can be a cost effective option for some and coming from a Medicare Advantage, you could be in a good spot getting a Medigap plan. You can review your plans during the Annual Election Period in the fall, so be sure to watch our videos to get more information close to time :)
@@BoomerBenefits ...however, once you are in an Advantage plan, isn't it almost "impossible" to get a supplement later, even during Open Enrollment period?...as it would require to re-instate your original Medicare A and B again....something you "Dropped" when you were on Advantage. Confused.
@@TheWilferch With a Medicare Advantage plan you still must have Medicare Part A & Part B. In order to go back on Original Medicare + Medigap you would have to pass underwriting in order to change your plan.
So in Arizona, If I choose Plan G high deductible, because I don't go to the doctor often. Then after a year something comes up, can I change to the regular G plan without a health screening?
When does Medicare part G consider their year? Does it start in January or at the time of your birthday, when it was started. I have had it for 2 years and still don't know. I follow when I have met my deductable but that is given out as starting in January on the Medicare paperwork. However, I don't change my part G until May. Is that when they start? or is January when it starts?
Hi Deborah, your Medicare deductibles will reset on January 1 of every year. So, if you were to pay your Part B deductible by December 1st, you would have to pay it again starting in January. Your Medigap plan also auto-renews in the new year. But, you might receive a premium rate increase on your policy anniversary. So, if you enroll in a new Medigap plan in May, but have already met your Part B deductible, then your deductible is already met. We hope this makes sense! Please let us know if you have any other questions on this.
NexusDL12 - it will depend on what state you are living in. In some states you can change without going through underwriting, but you are only allowed to change to the same or lower coverage. Give us a call and we can review your options!
Hi there! If you apply for a Medigap plan outside your one-time Medigap Open Enrollment (6 months based around your Part B effective date), you will likely have to go through underwriting. If you cannot pass the underwriting questions, you would either be denied a Medigap plan, or be charged a higher premium due to your pre-existing health conditions in most states. However, there are some states with special Medigap enrollment rules. Check out our blog here to see if your state is one of them: boomerbenefits.com/medigap-underwriting/
@@BoomerBenefits I wonder if you could temporarily move to one of those states and carry the coverage back after you get it? I imagine you would have to live there for a certain amount of time. Of course you don't want to do anything illegal.
@@alansach8437 Hi Alan - When you move to another state, your current Medigap plan would move with you. If you wanted to change to a different plan, you'd likely need to go through underwriting to do so. However, if you move to a state with special underwriting rules that allows you to change from one plan to another, then you could certainly do that. Once you have been approved for your new plan, you are all set for coverage and could move to a different state again if you wish. However, just know, your zip code does determine your premium, so even when you move back to your original state, your premium is likely to change.
This is a general question regarding Medicare payments being deducted from Social Security payments. My FRA for SS is toward the end of February 2024. In December 2023, I will be paying the quarterly payment to cover January-March 2024. My SS should begin for March 2024. Since SS deducts Medicare payments, will they know I already paid for March so I don’t get double billed? Just wondering how this works when your SS begins in a month that you have already made a Medicare payment. Thanks!!
Yes, Social Security should see that you have already paid that premium! If they do end up charging you March 2024, please give them a call and they can get this corrected and typically apply it to the next premium payment.
I would like to get a high deductible Plan G to supplement my no cost employer retiree Medicare supplemental plan so I can avoid future medical underwriting and HMO limitations with my retiree plan. Any concerns you would have with this strategy?
Hi Douglas - we have many clients on the high deductible g plan. The only concern is that the deductible will increase every year, so be sure to have that money set aside if you need to use it!
@@BoomerBenefits...you can't have 2 separate and concurrent "supplement" plans in-play at the same time, however.....right? That is @schenksterful"s question....isn't it?
Thank you as someone new to Medicare, still learning the ropes. Again I assume you can't switch from High deductible plan G to regular G without a doctor exam. Correct? Also you mention that your premiums for medicare count towards the deductible on the High plan G. What about IRMMA? That cost also count?
Hi Linda, you do not need a doctor exam to switch Medigap plans. However, if you switch Medigap plans outside your one-time Medigap Open Enrollment, you will likely have to go through underwriting in most states. However, there are some states with special Medigap enrollment rules. Now, your Medicare premiums do not count towards any deductible, whether you have Original Medicare only or a Medigap plan. Only your copays/coinsurance apply towards the deductible. If you owe an IRMAA fee, you will pay this fee on top of your monthly Medicare Part B and Part D premiums. You must stay enrolled in Original Medicare when enrolled in a Medigap plan.
@@joeryan8022 If you apply for a Medigap plan outside your one-time Medigap Open Enrollment (6 months based around your Part B effective date), you will likely have to go through underwriting in most states. But, there are some states with special Medigap underwriting rules. Check out our blog here to see if your state is one of them: boomerbenefits.com/medigap-underwriting/
Hi, always enjoy your videos. I'm 63 and planning ahead for a medical plan here in Florida. What concerns me is a 2700 high deductible plan seems to be a higher cost from a regular plan G as I'm seeing monthly G rates here today at 215 per month.... the high deductible plan would have to be close to free to make sense unless you are super healthy.... that being said, would you be able to switch to regular plan G in later years or are you stuck in the HD plan? Thanks
Hi Glenn, If you apply for a Medigap plan outside your one-time Medigap Open Enrollment (based around your Part B effective date), you will likely have to go through underwriting in most states. So, if you cannot pass the underwriting, you will likely be denied a new plan or be charged a higher premium due to pre-existing health conditions. But, there are some states with special Medigap underwriting rules. Check out our blog here to see if your state is one of them: boomerbenefits.com/medigap-underwriting/ When you get closer to 65, don't hesitate giving us a call at 817-249-8600! Our team of Medicare experts can help guide you in the plan that is most cost-effective and fits your healthcare needs.
Hi Glenn, See KathyAnn's comment re: the option of switching from HDG to G with United American (UA) after two years. Another option (to switch w/o underwriting) that I believe would work is to switch to a Medicare Advantage plan (assuming you have never been on one before), then switch to a plan G within 12 months of that (with no underwriting). Here in Seminole county, the UA HDG plan (non smoking female) is $51/month, so if plan G is $215/month, that would be $1968 premium savings per year. With plan G you still have to pay the first $226, so for HDG (on a bad year), you would pay $2700 or $2474 more than plan G, but $1968 of that would be offset by premium savings, so your HDG would cost you $506 more on a bad (expensive health issues) year. But on the good years, you're saving up to $1968 per year, so the decision can be based on your anticipated ratio of good years to bad years.
The billing by providers and facilities to the insurance company and the payout by the insurance company to those providers and facilities doing the billing may not be done in an orderly timeframe to track the $2700 deductible. Example is a patient has fullfilled the $2700 deductible by March 1st including a $1450 bill for services on March 1st. However that $1450 billed by provider to the insurance company for March 1st services is not paid by the insurance company to the provider until August 2nd due to delays caused by corrections to billing errors. Is that $1450 not factored into the $2700 deductible until August 2nd because it was not processed and paid quickly? If that is the case where the $1450 is not factored into the $2700 deductible then does the patient that had already paid out of pocket for their $2700 deductible by March 1st now has an extra $1450 to pay out of pocket until the insurance company pays out that $1450 to the provider? Is this correct or does medicare use the non-processed and not paid amount of $1450 billed on March 1st and factor that into the deductible on March 1st or is August 2nd the actual day that the deductible of $2700 has been met because that is when the payment of $1450 was made to the provider/facility?
Hi Thiago - Medicare receives and processes all claims 1st and applies all applicable standard cost shares with the beneficiary. Assuming in this example that the amount left after Medicare made all applicable payments and adjustments was $1450, only then would that crossover to the Medicare Supplement plan for consideration. This would then (and only then) be applied against the $2700 deductible. Prior to Medicare processing the claim - it didn’t exist as far as the Medigap company was concerned and therefore could not have had any impact on the $2700 deductible prior to the date it came to them from Medicare. Providers have up to 1 year to file claim with Medicare so the deductible with HDG and HDF plans is not satisfied based on order of the date of services, but rather the date Medicare processes the claim. If in this example the claim with the resulting cost share of $1450 for whatever reason was not processed until August 2nd and the beneficiary had already satisfied their $2700 deductible through other claims (even for later service dates) then Medigap plan would be obligated to pay the amount associated with coverage after the deductible, even if the date of service predated other claims where they still owed the deductible.
@@BoomerBenefits Thanks for the reply and explanation. The HDG probably would not work out well for those that use providers that do delay their processing or have frequent delays due to billing errors. The guaranteed $1450 reimbursement can also be delayed so budgeting and tracking deductibles amounts needs to be done with an HDG but not with the standard G with the exception of the annual $226 deductible.
@@thiagosantiro2327 We see your point! Any claims/billing issues that might arise can be handled by our claims team. If you would like to learn more from one of our agents, please call us at 817-249-8600.
@@BoomerBenefits Your website shows your address on Meacham Blvd. and I used to work 2 days a week at 3001 Meacham Blvd. but am no longer in Fort Worth. HDG plans are covered nationwide when traveling but for relocation purposes there are states that do not have any insurance carriers offering HDG plans. Is underwriting involved when relocating to an area where HDG plans are not offered and want to change to a standard G offered in that newly relocated area, or does a "special event" provide "guaranteed issue" on switching with no underwriting involved? If the special event/guaranteed issue does apply to that case is that a state regulation or a federal regulation that all states must follow?
Cost savings. If you pay $0 for anything, you go to the doctor daily. If you need to cover the first $240, you can treat your own cold and elbow bruise. Adding copays of any kind, discourage overuse of insurance.
Hi Joe, the Annual Election Period (October 15 - December 7) is for Medicare Advantage and Part D plans only. It has nothing to do with Medigap plans. If you apply for a Medigap plan outside your one-time Medigap Open Enrollment (based around your Part B effective date), you will likely have to go through underwriting in most states. But, there are some states with special Medigap underwriting rules. Check out our blog here to see if your state is one of them: boomerbenefits.com/medigap-underwriting/
God rhank you. You explain the details of plans so well, very detailed. Youre the best ive found, however you must find a way to lower or soften your voice. Pleace. I must quit listening , come back letter. Its too squeaky and high pitched. I just woke up. But youre so excellent with your instructions....im just trying to help you be perfect.
Could you compare the benefits/differences between a Plan HDG and a Plan L with it's relatively similar MOOP? I know Plan L has no foreign travel benefit, but otherwise, couldn't it be a relatively good option, too?
@@BoomerBenefits I'm just trying to work out the differences between basically having NO benefits from a HDG every year unless that deductible has been reached vs a Plan L that helps pay a good portion of your expenses as you go - AND has a relatively low MOOP. I know that the low premiums and peace of mind of a HDG are positive factors, but am I missing something about potential plan L savings over a HDG?
@@dolittled.a.5208 we would recommend having one of our agents run a quote for you on the different premiums in your area. They gave give you a better idea of the difference. You can call us at 817-249-8600
I am almost 64 yrs and wonder if the HD / G $2700 deductible pays 80/20 until the $2700 is met, then it's 100% Is it available in most zip codes? Is it more likely to be available near larger hospitals? I am going to move and buy a house in the near future (so I don't have a zip code) and would hate to buy a house where I can't get this coverage. Thank you for your time.
Hi Kim - HDG should be available in most areas. It is a a standardized plan so we see no issues getting it wherever you are. For the deductible, you pay the 20% up to the $2700 deductible. Hope this helps!
High deductible plans would be more appealing if after paying your deductible you got 12 months before having to pay it again. As it stands, if you pay it in January, you have 12 months where everything is covered. If you pay it in December, you have a few days or weeks of full coverage! Yet I pay the same premium either way. How is that fair? When I had high deductible plans in the past I found that this tends to make you ignore health issues that come up near the end of the year, which could potentially be dangerous! I think it's human nature, though. "Well, Christmas is coming up! Do I want to ruin everyone's Christmas by paying out all this money, and then maybe having to pay it out again in January?" Trust me. You think about stupid stuff like that, at a time when you shouldn't.
You're correct that if you were to pay your Medicare deductibles at the end of the year, they will start over again on January 1st. Everyone's healthcare needs and budgets are different. Many beneficiaries who do not visit the doctor often and are relatively healthy go with the High Deductible option. But, if they were to have a medical emergency or be diagnosed with a health condition, then they would want to be prepared to pay the higher deductible out-of-pocket. We're happy to hear you have figured this out and are now with the plan that best fits your situation!
why there isn't just 1 plan that covers everything from preventive checkups, to serious medical treatment? instead of these letters a b c d... g soon we will run out of alphabet... this system is ridiculous
Hi Tom, we understand that all of the different plans letters can be confusing. If you ever want to learn more or compare plans, you can give us a call at 817-249-8600.
Just a silly idea from a silly old boomer. How bout they offer a moderate plan? Why does it have to be high or low? How about $1200 a year deductible with moderate monthly premiums.
False. That's not how it works. After your $226 Part B Deductible (which counts toward your $2700), Original Medicare starts paying 80%. Your 20% co-insurance goes against the $2700. So, on a $2000 bill you would owe $226 Ded + 20% ($354.80).
@dronegirl7539.....You are missing a massively-important point......you are not paying the same premiums for all of your other options. In the case where you are facing a final $2000 bill from the doctor, it can turn out that over the course of the year you may have saved that much (or more)... on the premium differences between the HDG plan ( let's say costing maybe $40/month), instead of a "regular" cost ( let's say $200-$220/month) plan G. Costs shown here are only to show as an example.....you need to figure out the costs for you in your area.
I chose the HDG plan because it was over $1000 per year cheaper than the G plan. Remember that Medicare always pays 80% of a claim so 1/5th of a bill is my responsibility. To put it another way; I need to incur greater than $5000 in medical claims to incur $1000 of additional out of pocket to eat up the savings. That may happen on occasion but not likely routinely.
Hi Paul - thank you for your comment! So glad this plan is working for you & saving you money.
Thanks. I did the same.
Same situation as me 👍
Same here only I save $1,500 a year.
Exactly
Danielle trains her people extremely well.
In fact Danielle’s staff is helping me right now with a Medigap G plan claim .
Thanks Robert! We are happy to help!
Maybe I'm confused, but this is the way I see it.
For me, in my county, one particular company offers a High Deductible Plan G (HDG) for $64/mo.
The same company offers a regular Plan G for $284/mo.
The total difference in the premium cost for the year $2,640 more for the Regular Plan G.
The high deductible plan comes with a $2,700 deductible; the difference between the high deductible and the premium cost of the regular plan is $60-
If you opt for the regular Plan G, you have no choice but to pay the full premium, an additional $2,640 for the year.
Whereas, the total premium for the HDG comes to $768, and if you happen to be relatively healthy, you can set aside the other $1,900 for a future year, or some other investment. If you have the misfortune of becoming very ill during the year, you're Max Out Of Pocket is capped at $2,700 for the year; after which everything will be covered in full.
Hi Charlesluck8921 - that is great information! You might not see that large of a price difference in every county, so it will vary for each person. We are glad you found a plan that works for you!
All true...PLUS you COULD have pocketed the premium difference at the point in time when you need to exercise the $2700 deductible. So, your Max Out of Pocket MAY be MUCH less than $2700....even under the scenario you show.
For you it's a no brainer. HDG is the way to go.
If you are basically healthy, maybe only on a statin and you exercise regularly, not overweight, eat right, don’t smoke, glass of wine a few times a week….HDG is an obvious choice.
Informative video. Thank you. Medigap Plan G-HD is a no brainier in NY (and I believe Connecticut & Washington). Cost for G plans in NY are between $250 & $480 a month compared to $60 a month for a G-HD. In NY we can change plans at anytime of the year with no underwriting. So if you're expecting big bills or get sick you can just change to another plan the first of the next month. It's the best kept secret in medigap polices for us in NY!
We are so glad HDG is a good option for you!
Exactly since I live in Connecticut I was going to go with Plan G-HD also.
I'm in NY. Turning 65 soon. I can't find a company that offers G-HD.
GLOBE LIFE. It worked for me $70/month as opposed to over $300/month. A no brainer.
Ok, I woke up With hearing problems and eye problems suddenly yesterday. My eyes are still red and burning. I'm having trouble hearing. I was trapped in a drowning car in the monsoon of storm Debbie in Central Florida just 3 evenings ago. Water from a large creek was coming up to my computerized electric car. I couldn't get the windows down, couldn't get the door open, horn, lights didn't work. It was 2:00 AM. There was also sewer water from under the roads. I had 2 tiny Chihuahuas with me. I put them on the dash. I had a small axe under my seat. To my shock, it didn't break a window or open a door. I was hitting repeatedly with all my strength. Water coming in a car doesn't gush out quickly when you're in deep. The walls of the car contain the water in flash flooding. This is how people drown. My eyes, ears, hair, body were covered in sewer water with chemicals, mud, grease. I've had repeated showers and baths. Now I know that water did something to my eyes and ears. I couldn't hear well for the last 3 days. Does anybody want to buy a house in Florida? I'm leaving. Alaska sounds good to me now. By the way, I kicked and kicked laying back, with my feet and legs , plus then the weight of the water pushing inside the doors, jarred my driver's door a little open. Then I used the axe in that crevice along with my intermittent kicking. I despise computerized electric cars now. They kill people and children and animals too.
I chose HD-G for both mentioned reasons. I'm cost conscious and the premium here in South Florida is much lower than for regular G or N. And also because I'm not expecting a huge amount of medical care. Even if it turns out that I will need a lot of care, the premium savings of HD-G will almost make up for the higher deductible, so it won't be a great loss.
Hi Carl, we're thrilled to hear this! We're glad you chose the plan that is cost-effective for you and it still covers your healthcare needs. Thanks for sharing :)
A good review. HDG is only a good choice if you are pretty healthy, and expect to stay that way. Whereas regular plan G is best for people with worse health.
We are both MDs. My wife went on plan GHD because in our county it is $1400 less per year. Because everyone pays the $230 Part B deductible, a basic annual visit is going to cost the same.
So if she doesn’t use significant services and is healthy, she can bank about $1400 per year. After 2 years she would have saved enough to cover the deductible. Most healthier people only have a more major event every 5 years or so. The other way to look at it is that she is really only on the hook for $1300 per year, since the $1400 savings offsets the $2700 deductible.
So it is pretty good odds on average for her.
@@randolphh8005 That's great to hear, Randolph! We are all for beneficiaries saving money and doing what they think is best for their healthcare needs and budget. It seems that you both know what you're doing :)
Thank you Carl ! I happen to live in Miami, so thank you for the tip off.
@@randolphh8005 Here in GA, HDG is only about $77 a month cheaper than Plan G and about $43 a month than Plan N, so to me there isn't enough savings to consider.
Plan G high deductible in my case cost $50/mo while G costs $215/mo. My wife and I live in Florida and we've run the numbers. My wife and I have saved over $4000 in our first two years.
For us the annual cost of Plan G would be, premium $215 x 12 = $2,580 + $226 = $2,806/yr
That's $2806 per year every year no matter how much health care we need.
With Plan G high deductible it's premium of $600 + $226 = $826yr plus our 20% share of any healthcare.
The "high deductible" is achieved from paying the 20% Medicare B doesn't cover. So to hit my $2700 deductible I'd have to have $13,500 in care.
My MAX pay at that point is $3300 for that year. It stays at that point even if I use $200,000 of care. It is the most I will pay in any year.
To break it down monthly, our cost in a high use year is $275/mo
Cost in Plan G every year is $234/mo
Our "risk" if every year is a high healthcare year is $41 more per month.
In a healthy year where little medical care is needed you can save a lot. That's how my wife and I have saved over $4000 in our first two years.
I know plan G's are cheaper in some states, just do the math. Your mileage may vary!
Glad you're talking about HD G at all!
Hi David - We love that you have done your research. Glad you found a plan that works for you - we know it can be an expensive choice!
Hi David. If you don't mind, what plan did you join and are you happy with it. I am in Florida too and looking for a good HD company. Thanks.
@@evetrinidadmsrealtor5685 Did you find a Florida HD plan G that you like? I’m looking for one too.
Been wanting a video like this to understand what the difference is with High G! Thanks
We're glad we were able to help! Please let us know if you have any other questions.
Great explanation! It's so confusing learning the differences between Medicare plans
We understand how it can all be confusing and overwhelming! Feel free to give us a call at 817-249-8600 if you ever have any questions about the plans in your area.
i suspect this is by design they want u in the grave very quickly once u stop being productive member in society in their eyes. I do not live in US but this system u have there is ridiculous
Thanks for the video. Many of us who have been in the workforce in recent years have access to Health Savings Accounts. I contributed many years to an HSA, and plan to retire early next year. In fact, I have not touched my HSA at all, although I have stopped contributing due to my impending retirement plans. The HSA leaves me with a nice cushion to use for a high deductible Plan G policy, which is what I plan to do. So I can pay my high deductible with tax free dollars, which seems like a big win to me. My state also allows me to switch medigap plans any time throughout the year without underwriting (and plans must be community rated only), so I feel a high deductible Plan G is the best choice for me when I apply next month, and if I find it is too expensive (in good health now, knock on wood!), I can switch to another medigap plan.
that is great - thanks for your comment!
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What a great explanation! Definitely can be confusing sorting out the difference.
Thank you, Alex. We're happy to hear you found this video helpful.
May be either secondary or tertiary based on whether the Medicare patient has Medicaid.😊
Thanks for the comment!!
Most brokers will not mention HD plan G.
We have a lot of HDG fans!
Also, not all companies offer HD which is a bummer because HD is a great alternative. I am in Florida.
That is true! We hate that not every plan offers the coverage.
United American has a reasonable price HDG in Florida.
Great video, thanks. My spouse and I are both 68 in Florida. This is the differences in one carrier's annual premiums. G=$5,640, N=$4,824, GHD=$1,416. What would be the drawback to a GHD in this case.
Typically, the main drawback will be the cost of the deductible increasing over the years!
Great video! Nice to know that HD-G might be available. Peace & Love to you all!!
Thank you! If interested in shopping plans in the future, don't hesitate giving us a call at 817-249-8600. Have a great day!
Looks like if you don’t need lots of health care and you always have 10,000 of money in the bank you usally don’t touch,hig dec.plan g sounds like a great choise.But like Medicare adv,it’s based on zipcode,as I live in a rich area and prices are high.
where you live is a huge factor!
HDG is interesting, but as an agent I have seen clients go from Healthy at age 65, to cancer treatment and surgeries a month later. HDG doesn’t sound so great when the 2800 deductible is paid yearly instead of a one-time thing. Still HDG may make sense for some people who can pay out 3400/year. In the example I am mentioning, the client is only paying about half that. It's a lot to consider.
Yes, we agree! We have many clients who try to move back to plan g after the HDG
Good video, sad that it is so difficult to get down to the actual cost of HDHP Plan G vs Regular Plan G so that we can compare these two options if offered
We totally get it! But know that we are here to help uncomplicate it for you. If you are ever in the market to shop and compare plans in your area, don't hesitate to give us a call at 817-249-8600.
It’s deliberate. The system isn’t a healthcare system, it’s a for-profit insurance business, rigged against in the same way that casinos are. Since we can’t know what illnesses or injuries we might suffer or how long we’ll live, and insurance companies and doctors can raise rates as high as they want, it’s all a huge gamble arranged so that the consumer almost never wins.
Your content always delivers value, Well done!
I appreciate that!
I also chose HD-G plan due to my budget through Boomers. I have selected plan D with Anthem for medications. I still need dental insurance, I'm doing research into best options for me.
Hi Sharone - we do offer dental insurance. Give your agent a call and we can help!
@@BoomerBenefits Will do.
Hello Great explanation.
I'm trying to learn Medicare. Do you have a training video about explaining the Part D stages to a beneficiary? What to say and what to avoid? Thanks.
Yes we do, you can find many Part D videos on our page :)
1 - If you are enrolled in a HDG plan in Florida and have used $1900 of the $2700 deductible and move to another state and enroll in another HDG does your $2700 deductible start from $0 or does the previous $1900 get factored in? 2 - If you are enrolled in a HDG plan in Florida and move to a state that does not offer a HDG plan is there an exemption to choose a new plan possibly G without underwriting involved?
Hi there, When you move, your policy will travel with you no matter if the new state doesn't offer your plan. Your premium will likely change because of your new zip code, so if you wish to change from one carrier to another or one plan to another, you'd likely need to go through underwriting depending on the state. However, if you move to a new state and stay with the same carrier and same plan and all you do is update your address, then your deductible should carry over.
Good info. Can I get an eqivalent plan to HD-G in Wisconsin?
Yes - you should be able to get a HDG in WI.
Trying to validate something. Unlike HDHP on ACA, which require an HSA, even those without HSA can decide to enroll in Plan G HD? True or false?
that is correct!
I have the regular plan G, but they do not pay everything after Medicare costs. They have been saying it's due to the deductible all year long, but I have paid my deductible 2x over!
Hi Cheryn, when you have regular Medigap Plan G, your only out-of-pocket cost for Medicare-approved services should be the Part B deductible, which was $233 in 2022, and $226 in 2023. If you are paying more than the Part B deductible, then either Medicare denied your service, or there was a billing issue. If you are a Boomer Benefits client, please give us a call at 817-249-8600 and we will look into this for you! If not, we recommend calling your plan and ask about what is going on.
Contact them. They will refund the difference. That happened to me. I didn't even have to contact Medicare, just the billing dept. at the provider. They contacted Medicare for me, and a few weeks later I got a check from Medicare.
It would have been helpful if the video included information on how much the premium difference might be between regular Plan G and High Deductible Plan G.
Hi there, a Medigap premium depends on many factors, such as your age, gender, zip code, tobacco use, carrier, and more. So, it truly varies from person to person. If you'd like, you can always give us a call at 817-249-8600 for a free quote comparison!
I know plan G here in Pinellas County, Florida with Mutual of Omaha is $185 per month. AARP/UNITEDHEALTH is $194.00 per month, BCBS was $193.00. Hope this was helpful.
That's the secret they hit you with a penalty after....they wanted to stick me with a ridiculous plan that would penalize me if I didn't take it 😮 dealing with prescriptions ..I told the REPRESENTATIVE I didn't need pills but still I was being intimidated
I would mention that even when the deductible has not been met, we're still only responsible for 20% of the part B after meeting Medicare's part B ded.
thanks for that information!
Hmm maybe its a hearing problem in my ears. Is there a plan that covers hearing and dental well?
Hi there - you will need to purchase a stand alone plan that cover dental, vision & hearing if you have a Medigap plan. Some Medicare Advantage plans do offer these benefits, but Medigap plans do not.
What is the difference between Medicare Plan N and Plan D?
Plan D is typically much more expensive. Here in Texas, a plan N is is under $80 and plan D is over $200.
How much is the HDG monthly ? Is it the same for everyone or it depends on income ?
Hi there - The monthly premium depends on your zipcode, gender & tobacco status. Your Part B income is what is based on income. Give us a call at 817-249-8600 and we can review the pricing in your area.
As I understand it, the maximum out of pocket in 2023 for medical expenses under either a HD F or a HD G would be $2700 (i.e., not $2926 for the HD G). Is that correct? I am 74 years old and currently have a $0 Premium Medicare Advantage Plan with a MOOP of $5500. I am considering switching to a Supplemental Plan so that I don't have to worry about networks and pre-authorizations. I live in New York State which is Community Rated and I understand that I can switch to a Supplemental Plan without medical underwriting.. Currently, the premium in my area for Plan G is approximately $260/month and for HD G the premium is approximately $60/month. If I decide to switch to a Supplemental Plan, it appears that in my case, HD G makes better financial sense than Plan G given the $2400/year difference in premiums between the two plans. Any comments? Thanks and thanks for your very informative videos.
HI Clark - you are correct! HDG can be a cost effective option for some and coming from a Medicare Advantage, you could be in a good spot getting a Medigap plan. You can review your plans during the Annual Election Period in the fall, so be sure to watch our videos to get more information close to time :)
@@BoomerBenefits ...however, once you are in an Advantage plan, isn't it almost "impossible" to get a supplement later, even during Open Enrollment period?...as it would require to re-instate your original Medicare A and B again....something you "Dropped" when you were on Advantage. Confused.
@@TheWilferch With a Medicare Advantage plan you still must have Medicare Part A & Part B. In order to go back on Original Medicare + Medigap you would have to pass underwriting in order to change your plan.
So in Arizona, If I choose Plan G high deductible, because I don't go to the doctor often. Then after a year something comes up, can I change to the regular G plan without a health screening?
Hi there - no, in AZ you would have to go through underwriting to change plans.
When does Medicare part G consider their year? Does it start in January or at the time of your birthday, when it was started. I have had it for 2 years and still don't know. I follow when I have met my deductable but that is given out as starting in January on the Medicare paperwork. However, I don't change my part G until May. Is that when they start? or is January when it starts?
Hi Deborah, your Medicare deductibles will reset on January 1 of every year. So, if you were to pay your Part B deductible by December 1st, you would have to pay it again starting in January. Your Medigap plan also auto-renews in the new year. But, you might receive a premium rate increase on your policy anniversary. So, if you enroll in a new Medigap plan in May, but have already met your Part B deductible, then your deductible is already met. We hope this makes sense! Please let us know if you have any other questions on this.
So there is no deductible for the regular plan g? No out of pocket at all?
Hello! Plan G does have the Part B deductible, which changes every year. For 2023, the deductible is $226
Can I change from plan GHD to plan G anytime without underwriting?
NexusDL12 - it will depend on what state you are living in. In some states you can change without going through underwriting, but you are only allowed to change to the same or lower coverage. Give us a call and we can review your options!
Is MD in the Birthday Rule for 2023?
It is! It just started recently - give us a call to learn more @ 817-249-8600.\
If you start out with the high deductible plan G, can you switch to the other at a later time?
Hi there! If you apply for a Medigap plan outside your one-time Medigap Open Enrollment (6 months based around your Part B effective date), you will likely have to go through underwriting. If you cannot pass the underwriting questions, you would either be denied a Medigap plan, or be charged a higher premium due to your pre-existing health conditions in most states. However, there are some states with special Medigap enrollment rules. Check out our blog here to see if your state is one of them: boomerbenefits.com/medigap-underwriting/
@@BoomerBenefits I wonder if you could temporarily move to one of those states and carry the coverage back after you get it? I imagine you would have to live there for a certain amount of time. Of course you don't want to do anything illegal.
@@alansach8437 Hi Alan - When you move to another state, your current Medigap plan would move with you. If you wanted to change to a different plan, you'd likely need to go through underwriting to do so. However, if you move to a state with special underwriting rules that allows you to change from one plan to another, then you could certainly do that. Once you have been approved for your new plan, you are all set for coverage and could move to a different state again if you wish. However, just know, your zip code does determine your premium, so even when you move back to your original state, your premium is likely to change.
I wonder if Medicare supplement plan G HD in Georgia?
Hi there - give us a call at 817-249-8600 to learn what plans are offered :)
Hi
I ❤your video
I am 63 I live in California Oakland
What my opinion
Hi there - give us a call so that we can review all of your options! You can reach us at 817-249-8600.
This is a general question regarding Medicare payments being deducted from Social Security payments. My FRA for SS is toward the end of February 2024. In December 2023, I will be paying the quarterly payment to cover January-March 2024. My SS should begin for March 2024. Since SS deducts Medicare payments, will they know I already paid for March so I don’t get double billed? Just wondering how this works when your SS begins in a month that you have already made a Medicare payment. Thanks!!
Yes, Social Security should see that you have already paid that premium! If they do end up charging you March 2024, please give them a call and they can get this corrected and typically apply it to the next premium payment.
@@BoomerBenefits Thank you so much for answering! Appreciate it!!
I would like to get a high deductible Plan G to supplement my no cost employer retiree Medicare supplemental plan so I can avoid future medical underwriting and HMO limitations with my retiree plan. Any concerns you would have with this strategy?
Hi Douglas - we have many clients on the high deductible g plan. The only concern is that the deductible will increase every year, so be sure to have that money set aside if you need to use it!
@@BoomerBenefits...you can't have 2 separate and concurrent "supplement" plans in-play at the same time, however.....right? That is @schenksterful"s question....isn't it?
I will keep my Tricare.
we understand!
Thank you as someone new to Medicare, still learning the ropes. Again I assume you can't switch from High deductible plan G to regular G without a doctor exam. Correct? Also you mention that your premiums for medicare count towards the deductible on the High plan G. What about IRMMA? That cost also count?
Hi Linda, you do not need a doctor exam to switch Medigap plans. However, if you switch Medigap plans outside your one-time Medigap Open Enrollment, you will likely have to go through underwriting in most states. However, there are some states with special Medigap enrollment rules. Now, your Medicare premiums do not count towards any deductible, whether you have Original Medicare only or a Medigap plan. Only your copays/coinsurance apply towards the deductible. If you owe an IRMAA fee, you will pay this fee on top of your monthly Medicare Part B and Part D premiums. You must stay enrolled in Original Medicare when enrolled in a Medigap plan.
@@BoomerBenefits Ok so are you saying we can switch back to regular G without underwriting if we switch during the open enrollment period ?
@@joeryan8022 If you apply for a Medigap plan outside your one-time Medigap Open Enrollment (6 months based around your Part B effective date), you will likely have to go through underwriting in most states. But, there are some states with special Medigap underwriting rules. Check out our blog here to see if your state is one of them: boomerbenefits.com/medigap-underwriting/
Hi, always enjoy your videos. I'm 63 and planning ahead for a medical plan here in Florida. What concerns me is a 2700 high deductible plan seems to be a higher cost from a regular plan G as I'm seeing monthly G rates here today at 215 per month.... the high deductible plan would have to be close to free to make sense unless you are super healthy.... that being said, would you be able to switch to regular plan G in later years or are you stuck in the HD plan? Thanks
United American's HD-G plan in Palm Beach County is currently $69/mo, goes up slightly when I turn 70 years old.
Hi Glenn, If you apply for a Medigap plan outside your one-time Medigap Open Enrollment (based around your Part B effective date), you will likely have to go through underwriting in most states. So, if you cannot pass the underwriting, you will likely be denied a new plan or be charged a higher premium due to pre-existing health conditions. But, there are some states with special Medigap underwriting rules. Check out our blog here to see if your state is one of them: boomerbenefits.com/medigap-underwriting/
When you get closer to 65, don't hesitate giving us a call at 817-249-8600! Our team of Medicare experts can help guide you in the plan that is most cost-effective and fits your healthcare needs.
With United American you can switch to regular G after 2 years without underwriting and at the age 65 rate.
Hi Glenn, See KathyAnn's comment re: the option of switching from HDG to G with United American (UA) after two years.
Another option (to switch w/o underwriting) that I believe would work is to switch to a Medicare Advantage plan (assuming you have never been on one before), then switch to a plan G within 12 months of that (with no underwriting).
Here in Seminole county, the UA HDG plan (non smoking female) is $51/month, so if plan G is $215/month, that would be $1968 premium savings per year. With plan G you still have to pay the first $226, so for HDG (on a bad year), you would pay $2700 or $2474 more than plan G, but $1968 of that would be offset by premium savings, so your HDG would cost you $506 more on a bad (expensive health issues) year. But on the good years, you're saving up to $1968 per year, so the decision can be based on your anticipated ratio of good years to bad years.
Is that in the State of Florida as well@@kathyann9643
The billing by providers and facilities to the insurance company and the payout by the insurance company to those providers and facilities doing the billing may not be done in an orderly timeframe to track the $2700 deductible. Example is a patient has fullfilled the $2700 deductible by March 1st including a $1450 bill for services on March 1st. However that $1450 billed by provider to the insurance company for March 1st services is not paid by the insurance company to the provider until August 2nd due to delays caused by corrections to billing errors. Is that $1450 not factored into the $2700 deductible until August 2nd because it was not processed and paid quickly? If that is the case where the $1450 is not factored into the $2700 deductible then does the patient that had already paid out of pocket for their $2700 deductible by March 1st now has an extra $1450 to pay out of pocket until the insurance company pays out that $1450 to the provider? Is this correct or does medicare use the non-processed and not paid amount of $1450 billed on March 1st and factor that into the deductible on March 1st or is August 2nd the actual day that the deductible of $2700 has been met because that is when the payment of $1450 was made to the provider/facility?
Hi Thiago - Medicare receives and processes all claims 1st and applies all applicable standard cost shares with the beneficiary. Assuming in this example that the amount left after Medicare made all applicable payments and adjustments was $1450, only then would that crossover to the Medicare Supplement plan for consideration. This would then (and only then) be applied against the $2700 deductible. Prior to Medicare processing the claim - it didn’t exist as far as the Medigap company was concerned and therefore could not have had any impact on the $2700 deductible prior to the date it came to them from Medicare. Providers have up to 1 year to file claim with Medicare so the deductible with HDG and HDF plans is not satisfied based on order of the date of services, but rather the date Medicare processes the claim. If in this example the claim with the resulting cost share of $1450 for whatever reason was not processed until August 2nd and the beneficiary had already satisfied their $2700 deductible through other claims (even for later service dates) then Medigap plan would be obligated to pay the amount associated with coverage after the deductible, even if the date of service predated other claims where they still owed the deductible.
@@BoomerBenefits Thanks for the reply and explanation. The HDG probably would not work out well for those that use providers that do delay their processing or have frequent delays due to billing errors. The guaranteed $1450 reimbursement can also be delayed so budgeting and tracking deductibles amounts needs to be done with an HDG but not with the standard G with the exception of the annual $226 deductible.
@@thiagosantiro2327 We see your point! Any claims/billing issues that might arise can be handled by our claims team. If you would like to learn more from one of our agents, please call us at 817-249-8600.
@@BoomerBenefits Your website shows your address on Meacham Blvd. and I used to work 2 days a week at 3001 Meacham Blvd. but am no longer in Fort Worth. HDG plans are covered nationwide when traveling but for relocation purposes there are states that do not have any insurance carriers offering HDG plans. Is underwriting involved when relocating to an area where HDG plans are not offered and want to change to a standard G offered in that newly relocated area, or does a "special event" provide "guaranteed issue" on switching with no underwriting involved? If the special event/guaranteed issue does apply to that case is that a state regulation or a federal regulation that all states must follow?
Another great video!
We are so glad you enjoyed this video!
Why doesn't Florida Medicaid cover my deductible?
Depending on your level of Medicaid, you do not need a Medigap plan. Give us a call if you have more questions @ 817-246-8600.
Why was supplemental Plan F phased out?
Cost savings. If you pay $0 for anything, you go to the doctor daily. If you need to cover the first $240, you can treat your own cold and elbow bruise. Adding copays of any kind, discourage overuse of insurance.
It was phased out due to new legislation not allowing coverage that did not pay the Part B deductible in full.
great comment!
Can we switch back to regular G without underwriting if we switch during the open enrollment period ?
Hi Joe, the Annual Election Period (October 15 - December 7) is for Medicare Advantage and Part D plans only. It has nothing to do with Medigap plans. If you apply for a Medigap plan outside your one-time Medigap Open Enrollment (based around your Part B effective date), you will likely have to go through underwriting in most states. But, there are some states with special Medigap underwriting rules. Check out our blog here to see if your state is one of them: boomerbenefits.com/medigap-underwriting/
God rhank you. You explain the details of plans so well, very detailed. Youre the best ive found, however you must find a way to lower or soften your voice. Pleace. I must quit listening , come back letter. Its too squeaky and high pitched. I just woke up. But youre so excellent with your instructions....im just trying to help you be perfect.
Thank you for your comment! If you check out our newest videos, you will see that we have adjusted our sound.
I have medicare insurance government insurance. Cost me nothing and covers everything.
That is great to hear!
Could you compare the benefits/differences between a Plan HDG and a Plan L with it's relatively similar MOOP? I know Plan L has no foreign travel benefit, but otherwise, couldn't it be a relatively good option, too?
Hi There - we have a whole video one Plan L & Plan K. You can watch here - ruclips.net/video/iW2PYoJ3V8c/видео.html
@@BoomerBenefits I'm just trying to work out the differences between basically having NO benefits from a HDG every year unless that deductible has been reached vs a Plan L that helps pay a good portion of your expenses as you go - AND has a relatively low MOOP. I know that the low premiums and peace of mind of a HDG are positive factors, but am I missing something about potential plan L savings over a HDG?
@@dolittled.a.5208 we would recommend having one of our agents run a quote for you on the different premiums in your area. They gave give you a better idea of the difference. You can call us at 817-249-8600
I am almost 64 yrs and wonder if the HD / G $2700 deductible pays 80/20 until the $2700 is met, then it's 100%
Is it available in most zip codes?
Is it more likely to be available near larger hospitals?
I am going to move and buy a house in the near future (so I don't have a zip code) and would hate to buy a house where I can't get this coverage.
Thank you for your time.
Hi Kim - HDG should be available in most areas. It is a a standardized plan so we see no issues getting it wherever you are.
For the deductible, you pay the 20% up to the $2700 deductible. Hope this helps!
@@BoomerBenefits Yes, it helped a lot! Thanks you for your time.
Why don’t you just give us a ballpark $ for HD vs regular G? It’s generally known what regular G cost, just give us cost comparison!
Hi Phillip - it depends on where you are located. It is typically a $50 - $60 difference per plan.
High deductible plans would be more appealing if after paying your deductible you got 12 months before having to pay it again. As it stands, if you pay it in January, you have 12 months where everything is covered. If you pay it in December, you have a few days or weeks of full coverage! Yet I pay the same premium either way. How is that fair? When I had high deductible plans in the past I found that this tends to make you ignore health issues that come up near the end of the year, which could potentially be dangerous! I think it's human nature, though. "Well, Christmas is coming up! Do I want to ruin everyone's Christmas by paying out all this money, and then maybe having to pay it out again in January?"
Trust me. You think about stupid stuff like that, at a time when you shouldn't.
You're correct that if you were to pay your Medicare deductibles at the end of the year, they will start over again on January 1st. Everyone's healthcare needs and budgets are different. Many beneficiaries who do not visit the doctor often and are relatively healthy go with the High Deductible option. But, if they were to have a medical emergency or be diagnosed with a health condition, then they would want to be prepared to pay the higher deductible out-of-pocket. We're happy to hear you have figured this out and are now with the plan that best fits your situation!
There is nothing fair in live, free air is all I get free.
why there isn't just 1 plan that covers everything from preventive checkups, to serious medical treatment? instead of these letters a b c d... g soon we will run out of alphabet... this system is ridiculous
Hi Tom, we understand that all of the different plans letters can be confusing. If you ever want to learn more or compare plans, you can give us a call at 817-249-8600.
I am waiting for Plan Q ... 😚👌
Remember my friend it's a money making organization..if you cant afford then u get penalized and many elders are stuck for the rest of their lives....
Just a silly idea from a silly old boomer. How bout they offer a moderate plan? Why does it have to be high or low? How about $1200 a year deductible with moderate monthly premiums.
Hi there - That would be a great compromise! We hope to see something like that in the future.
Maybe if they come up with 100,000 per year per person deductible we could get a lower premium. These clowns are completely out of touch with reality
We understand! Thanks for watching.
If your final doctor bill was $2000 plan G HD would be useless. It would only make sense if your bill was like $10,000 or something.
Hi there - Thank you for your feedback! We have many people who enjoy both plans.
False. That's not how it works. After your $226 Part B Deductible (which counts toward your $2700), Original Medicare starts paying 80%. Your 20% co-insurance goes against the $2700. So, on a $2000 bill you would owe $226 Ded + 20% ($354.80).
Thanks for clarifying.
@dronegirl7539.....You are missing a massively-important point......you are not paying the same premiums for all of your other options. In the case where you are facing a final $2000 bill from the doctor, it can turn out that over the course of the year you may have saved that much (or more)... on the premium differences between the HDG plan ( let's say costing maybe $40/month), instead of a "regular" cost ( let's say $200-$220/month) plan G. Costs shown here are only to show as an example.....you need to figure out the costs for you in your area.
ACE supplement plan G under Chubb healthcare. Single here, I pay $145 month and happy with that.
Great to hear!