I chose G-HD because I save $210 per month, My savings are 210x12=$2520 per year. If I go to the hospital My deductible is $2800. I lose 2800-2520= $ 280 that year. If don't go to the hospital for a few years I am way ahead of the game. Am I right?
I have G-HD for $32 and $34 at 66. I can easily afford the max out-of-pocket each year if needed. The primary reason is the incentive to stay healthy to avoid medical costs. When working I had inexpensive healthcare coverage and I was not healthy due to the free junk food at work every week. I now eat only two meals a day and only nutrient-rich foods and nonsynthetic supplements. My health is excellent now. Do everything you can to stay away from the medical industry. The doctors I had to go to never asked me about my diet. They can't make money from healthy people.
I turn 65 in 5 months. I am a planner, so I have my consultation scheduled with your company next week. I have picked your company over all the others, because you have the best & clearest info and are honest. Thanks!
I chose G-HD because I save $210 per month, My savings are 210x12=$2520 per year. If I go to the hospital My deductible is $2800. I lose 2800-2520= $ 280 that year. If don't go to the hospital for a few years I am way ahead of the game I believe.
As always, your videos are most informative. The information about certain insurance companies offering benefits that include becoming a regular G plan but paying the Plan GHD premiums after a few years or after two years being able to switch, without underwriting, to one of the insurance company's other supplement plans.
Unicare used to offer a high deductible plan F that had copays to the dr and emergency room. It has since disappeared. I’m an agent but enjoy your teaching style and am a subscriber.
I chose HDG primarily because of the MOOP and knowing this amount can be paid in increments depending upon the service. My budget is extremely limited with social security less than $1800/month. So any payment towards a deductible is a sacrifice. I was adamant that I would not go into MA.
Please feel free to comment or ask questions. Please visit us at medigapseminars.org/ Also -download 2024 Medicare rates at medigapseminars.org/resources/
holy crap! I live in Washington state and the G high deductible plans are $150 to $200 less than the straight G. Definitely no contest there for me since I'm relatively healthy and will be starting Medicare in March at age 70. And around a $100 to 120 less than the N. INS Co.s with Hi- ded G plans $56 or less are: Globe Life $54 Medico (Wellabe) $56 Primera Blue Cross $49 United American $48 United World $56
I pay $210 less per month on premiums with my plan G HD. That is $2500 per year. I am healthy and have already saved $7500 in premiums. Unless I go to hospital, I never reach max out of pocket because Medicare Part B pays 80 pct, so even with deductible, I pay small amounts for Doctor visits fir my 20 pct portion. So, unless I am going to hospital on a yearly basis I come out ahead. If worse comes to worse, I believe I can switch to Advantage with no underwriting.
You can always switch to an Advantage Plan during annual enrollment with no medical underwriting. But why? The Medicare limit on maximum out of pocket for Advantage Plans is $8,800 in network and $13,300 out of network. You will not improve your healthcare or lower your cost with an advantage plan.
@@MedigapSeminars - Yes. Thank you! That is why I am on Plan G. I cannot imagine a scenario where I would switch. The freedom to go to any hospital or doctor under Medigap is unmatched.
Thank you for another good video. Much better than some of the other so called experts on youtube giving out failty information to increase their commissions.
I'm not on Medicare quite yet. That's coming later this year. I live in NY where supplemental plans are very expensive compared to the rest of the country. On the flip side, I can move between plans without a medical underwriter. Seems to me that either a HD Plan G or a Plan N are the best options as long as the MOOP isn't a problem.
Will Rogers said there is nothing so uncommon as common sense. Combine that with cutting-edge information on Medicare, and you have your outstanding RUclips channel!
In NY, the difference between the HD Plan and the full G plan was less than a couple of hundred bucks a year less than the $2,800 deductible. A No Brainer.
Love your videos! Question for friend who is New York State resident: since you can change Medigap plans at any time without underwriting, if you have G-HD and on November 3 was told you will be incurring major medical expenses, when is the earliest changing to G could be effective, November 4 or December 1?
Loving the information Matt. When I get to 64 and half I'll DEFINITELY be interested in the 2nd HDG example you gave. Where the company charges HDG premium for regular G after 2 years.
First, thank you very much for this information. 😊 I think the roadblock in my mind to understand ANY of this is the definition of DEDUCTIBLE and how it works. I've come across the terms deductible, coinsurance and premium and they confuse me. But especially deductible. Do you hv a video that is specifically dedicated to the definition of these and their applications? 🥺
Hi - a deductible is the amount you must pay in services BEFORE your insurance plan will pay any benefit. Coinsurance is a percentage of the cost. for example, without a supplement Medicare Pays 80% and you pay 20%. That 20% is coinsurance. A copay is a fixed dollar amount. with Some insurance plans for under 65 you pay a $25 office visit fee. That is a copay. Hope that helps.. medigapseminars.org/contact-us/
@@beekind6267 I understand what you mean. Think of it this way. A co-pay is the set dollar amount in your plan for let's say office visits. I am writing in general terms here not just Medicare terms. So let's say your health plan states if you see a specialist..you must pay $50.00 even though that office visit is really a $400.00 charge w/o insurance. Then you only pay $50.00 and your insurance will cover the rest. A non-specialist may be $35.00. If you didn't have insurance their real charge of $275.00 but the your insurance will cover the rest. Now co-insurance is what you might pay for other services because of high cost. You insurance wants you to pay most times a percentage or a set dollar amount. You might 20% on an X-Ray that could cost $2000.00 - $3000 depending on the location, hospital, etc. Sometimes your co-insurance and co-pays can go towards your deductible sometimes not. It depends on your health insurance plan. Your actual Maximum Out-Of-Pocket expense is called a MOOP. When you reach your MOOP then your plan pays 100% of charges. I hope this helps somewhat. With Medicare , it's your when you reach your DEDUCTIBLE instead that it pays 100%.
For 2023, in my particular market, Alaska, I noticed that the least expensive G-HD plan had a "convert to standard plan G later" feature. The only problem was that even though they were the least expensive G-HD, they were consistently the most expensive standard plan G at a variety of ages.
If it is the one I am thinking of, they also offer benefits like paying for any and all preventive care, even if Medicare denies it, Plus you have the ability to switch plans internally without underwriting. It is more expensive, but has more features. Still, it is not for everyone. I have found the people that tend to appreciate that plan most are those who have been on Medicare and want better preventive care. medigapseminars.org/contact-us/
I was considering plan GHD, but the diff in GHD premium and plan N premium in my area was only about $50-55 per month. My plan N is community rated pricing, with the only company in my state that offers community rated policies. All others are attained age. I would certainly buy plan GHD before I would ever buy a Disadvantage / Part C plan.
Good decision, except I hate to break your bubble. Sounds like you have UHC. Their definition of "community rated" is not accepted in states that mandate community rated plans. The plan you have has a mandatory 3% annual price increase (just like an attained policy), plus any other price increase for inflation. If it has a mandatory 3% annual price increase, it's not really community rated. medigapseminars.org/contact-us/
Thank you for the info sir. I did notice that UHC rates in my home state of NC did not increase their rates on plan N in June from previous year rates. That is according to their current price sheet.They did have a price increase on plan G. I will be 65 in November. The other company I was considering was BCBSNC. They increased their rate in June around the 3% you mentioned. Was with them for years before I retired, and after on the ACA. Their initial rate going in was some higher than UHC for plan N. In the end I may end up averaging about the same amount of total dollars for premiums anyway. I will have six months to change my mind on Medigap companies and plans without concern of medical underwriting. Thanks Again ! @@MedigapSeminars
@@daviddues4240 Washington State is one, yes. I prefer states that mandate Medigap pricing be either Issue Age or Community Rated. The exception to that is CA.
Well I spoke to your staff a year ago and they confused me even more regarding a supplemental in NY. I have a "pre-existing condition" that ONLY I know about. I have not been to physician in over 20 years. Can I pick up plan N tomorrow, for example, have the surgery, and have the supplemental pay the balance. Or will the supplemental refuse to pay? I have had Medicare for 4 years without a supplemental plan.
In New York you have a perpetual open enrollment. You can be in the ambulance to the hospital and get a new insurance plan. Except if you have an Advantage plan. If so, you are limited to Advantage Plan enrollment period like the one that started today. medigapseminars.org/contact-us/
@@MedigapSeminars Well the way I understand it, I won't actually be enrolled in the plan for about 30 days. But that is of no consequence to me. I was just wondering if I would have to wait 6 months to be covered for any condition that could be thought of as chronic and possibly pre-existing. For example chronic headaches, joint pain, etc. Will a medigap plan insist on a 6 month waiting period for payment. And of course this is regarding straight Medicare.
@@SKWDMDYT in order for that 6 month clause to be activated you must be coming off a period of at least 63-days where you had Medicare but did not have an Advantage Plan or supplement. Then, it only involves conditions that you saw a doctor about during that period.
@@MedigapSeminars Thank you. I will be calling your company once again in the very near future, I am a care giver for my 95 year old mother and have little time for myself.
I watched other vids and was under the impression I was not covered until I hit the deductible amount. I now know that is wrong. My question is in NY, if it makes sense to switch to plan N in December, assuming there is a big chunk of the deductible left, to avoid having to pay the balance of that year’s deductible AND starting the next year’s deductible, if your treatment spans both years? For example, it avoids the possibility of an inpatient stay from 12/30 through 1/3, and having to pay the (assuming no change) $1,600+ deductible in the new year Plus, the balance of my MOOP for the prior year, true?
The risk you take with this strategy is that if you do not hold your supplement plan for at least 6-months, the new plan can have a clause excluding prior conditions for six-months. I usually recommend the HDG for NY knowing that if there is an expensive medical issue of which you have foreknowledge of the expenses (i.e. cancer) you can switch to higher coverage and hold the higher coverage for at least six months.
I will re-state my question another way. I live in NY. I just turned 65 and now have Medicare. I call your company and pickup Plan N on Monday. I have not had medical insurance in 5 years. I say to myself, now that I have medical insurance, maybe I should have that raised lesion on my leg checked, or maybe that chronic knee pain should be checked, etc. Will my plan N pay for knee replacement surgery , or hospital based surgery to remove a tumor. Or will they insist on a 6 month waiting period for failure to have prior insurance coverage.
🙂 It's a great question. The pre existing insurance clause only applies to conditions you saw a doctor about in the six month period prior to getting a Medicare plan (assuming you had Medicare but not a supplement or advantage plan) The pre existing condition can then only last the amount of time between your doctor visit and getting a supplement, but no more than 6-months. The time restriction is important. Most insurance companies are more lenient than Medicare allows.
Could you please clarified for me. If I have preexistent condition and after retirement from job got Medicare and plan G, plan G will not pay my medical service 6 month?
@@lisaveta8565 No. When you are new to Medicare, you have a clean slate. If, after your initial enrollment period you have Part B but are without either a supplement or an advantage plan for at least 63-days, then you could be subject to pre-existing conditions when you apply for a supplement. That condition would be specific to an issue you visited a medical professional about in the six months prior to enrolling in a supplement. The pre-existing condition could be less than 6 months, but no more.
You are talking to a Kailua HS 1977 grad Of course I work in Hawaii. Unfortunately your choices are limited depending on zip code. medigapseminars.org/contact-us/
@@micheleyoungblood I spent my High School and some college there because my father was stationed at Pearl Harbor. He was career Navy. My son is Navy too, a Corpsman.
@@MedigapSeminars I was stationed at Barbers Point Air Station. I'm still on my husband's medical and he's younger than me so won't need for a few more years. I have been watching videos for 2 years now to learn but would like to know what some pricing is and specifically if HD G would be good verses N or G so would like to chat if possible soon to obtain more Hawaii specific numbers. Will contact you.
Is there a good high deductible plan in Florida or is it better to get plan N and is the high rates in Florida statewide or does it vary between counties? Thanks
There is a HDG plan in Florida. And yes rates on all medigap supplements in Florida are priced according to zip code. Miami, Boca Raton and Wellington highest priced I believe but unfortunately Florida in general pricey on the supplements. For an example plan G like $60 more a month than plan N. Plan N great choice for many in Florida. HDG May be also for some. Just an opinion. 🙋♀️🙋♀️🙋♀️
I didn’t realize there were insurance companies that allow you to freely switch from a HD G plan to a regular plan and keep your HD plan premium. Also didn’t know there were insurance companies that would let you switch plans without underwriting if you didn’t live in those few states that allow it. Interesting
They are few and far between. But when an agent / brokers intent is to find the best healthcare coverage for our clients, we find companies like this that are A or even A+ rated. medigapseminars.org/contact-us/
When you switch from a HDG plan or FHD if that’s what you had there is a company that allows the switch in 2 years without the underwriting but you don’t keep the High deductible plan premium. It’s a nice option but your premium will change to the new plan you choose. But if you can change anyway due to good health shop the market place as rate may be better elsewhere. 🙋♀️🙋♀️🙋♀️ I only know of one company that allows the 2 year switch from an HD plan to a regular plan like N or G, 🙋♀️🙋♀️🙋♀️
@@christinedaley5580 There is more than one. Dis you know there is an insurance company where their Medigap plan will pay all preventive care services, even if denied by Medicare?
Benefit differences is just that Pan D has no office visit copays. medigapseminars.org/wp-content/uploads/2023/10/2024-Medigap-Benefits-table.pdf Price difference can be substantial. That is why it's just not a good value in most states.
I live in Virginia and was born in 1954 I am just now applying for Medicare. I want to be covered for any kind of procedure I might need, in your opinion what plan would that be?
Well, I am not sure what procedure you might need. But i can say that the intent of Original Medicare is to cover everything medically necessary, and Medicare leans on your doctor to make that determination. Add a supplement and you're good to go. Please medigapseminars.org/contact-us/ Our services are free to the consumer.
Great video. I'm curious why you compared the HDG to Plan N instead of Plan G? It seems like comparing it to Plan G would be more of an apples to apples comparison. I'm also interested in your opinion of how many years to breakeven is a good value? You stated that 3 or 4 years is not a good value. Is anything less than 3 years a good value in you opinion?
I chose Plan N because it is the lowest premium full coverage plan. Full coverage meaning full hospital and SNF coverage. As far as what is a good value, that truly does lie in eye of the beholder. The intent of the video is to show a method of evaluating value and risk. Every person is going to have a slightly different opinion on what is "worth the risk".
So let me get this straight. Say I had 10 claims so far this year and all were for Medicare Part B services. If the first 3 claims met the 2024 Medicare Part B deductible of $240, then on the remaining 7 claims I would only have to pay the remaining amount of the HD G supplement (e.g. $2800 supplement deductible - $240 Medicare Part B deductible = $2560 for the last 7 claims)?
Not associated with the agency. This is my understanding as a layperson. Once you meet the $240 deductible, Medicare pays 80% of the bill. The remaining 20% is your responsibility until you meet the HD G deductible. $100 Doctor fee - $80 Medicare = $20 You would pay $20. The $20 counts toward your HD Plan G deductible. 7 claims @ $100 = $700 Medicare 80% = 560 You would pay 20% = $140 The $140 counts toward your HD Plan G deductible. PS If you are admitted into a hospital, you are using Part A. That does not pay 80%. You can easily end up having to pay the full deductible if you need to go into the hospital. However, once the deductible has been met you pay zero.
@olivern4784 is correct. Another way to look at it is that this will be your insurance: medigapseminars.org/wp-content/uploads/2023/10/2024-Part-APart-B-IRMAA.pdf until your out of pocket expenses meet the Medigap deductible.
This is the 2nd video that you highlight the Musicks at Medicare School. Could it be they have about 100k more subscribers? You provide good info but as far as being ‘stuck’ in a supplement plan you failed to mention another option a few of us have. There’s a few states that have the Birthday Rule. As you know with the birthday rule insureds can change to another Medigap plan with the same level or a lower level of benefits without underwriting. I have that option in my state however, this rule only applies to plans with the same carrier. Other states may allow change to another insurance company. So there’s additional options for a few of us that happen to reside in a state with the birthday rule.
In Illinois the birthday rule is worthless because it does not include "the same carrier" when the carrier has closed down the old pool and opened a new subsidiary. As far as Mr. Musick, it has nothing to do with his number of subscribers. It has everything to do with spreading false information, not understanding his product and confusing people to the point of them making decisions based on false information.
@@MedigapSeminars Strange since the plan is supposed to cover excess charges. So the max out of pocket could be higher than the $2800 deductible with a HD Plan G?
@@MedigapSeminars Now I'm confused. Just saw this on a page from your website: "Only Plan G and Plan F pay Medicare Part B excess charges. The high deductible versions of these two Medicare supplement insurance plans will credit excess charges to the plan deductible".
@@jeffs3627 That is correct. If the deductible is already met, the HD plans pay the excess charge. If it is not met, then the excess charge goes toward the deductible. For more details and clarification on Excess Charges please see my video "Excess Charges R Dead" ruclips.net/video/eh_RFjGpVo4/видео.htmlsi=nUpugEQ0L81eekg0
The above question should have been answered with "It depends". It depends on if you have a supplement and thn which supplement you have. For example, if you have a Medigap Plan N , A, B, C, D, K, L or M then the answer is NO. If you have a Plan G or F then yes. medigapseminars.org/wp-content/uploads/2024/05/2024-Medigap-Benefits-table.pdf
Thanks for another great video. However, isn't it possible for the OOP cost to actually exceed the G-HD deductible if you incur $2800 in Part A expenses before you meet your $240 Part B deductible? You'd still have to meet that Part B deductible, right?
Hi, thanks for the question. No, it is not possible to exceed the deductible for inpatient and outpatient Medicare in a single calendar year. Remember, Part B is physician services, even while an inpatient.
@@MatthewClaassenCMT Perhaps I didn't word it correctly. I wasn't talking about the possiblity of being able to individually exceed both the 2024 Part A deductible ($1632) and the Part B deductible ($240). I was talking about a scenario where it might be possible for me to have quickly paid so many Part A expenses that they alone meet the 2024 G-HD deductible ($2800) before I meet the Part B deductible. If that were to happen, wouldn't I still be required to pay the Part B deductible amount? And if so, my total out-of-Pocket expense would then exceed $2800 for 2024.
@@dennislaplant95 no even in that scenario, you would not be obligated to pay the part B deductible. The insurance company would pay it. Sometimes, people do overpay simply because they’re paying bills faster than the insurance companies accounting for it. In which case they’re reimbursed. Medicare medical billing can be adjusted up to a year after billing.
@@dennislaplant95 no even in that scenario, you would not be obligated to pay the part B deductible. The insurance company would pay it. Sometimes, people do overpay simply because they’re paying bills faster than the insurance companies accounting for it. In which case they’re reimbursed. Medicare medical billing can be adjusted up to a year after billing.
They let their guard down. Truth is, last year and this we are inundated with calls from people confused by their videos. I get tired of having to prove who is right.
Reach out to us for more personalized consultations: medigapseminars.org/contact-us/ or 800-847-9680
I chose G-HD because I save $210 per month, My savings are 210x12=$2520 per year. If I go to the hospital My deductible is $2800. I lose 2800-2520= $ 280 that year. If don't go to the hospital for a few years I am way ahead of the game. Am I right?
I have G-HD for $32 and $34 at 66.
I can easily afford the max out-of-pocket each year if needed.
The primary reason is the incentive to stay healthy to avoid medical costs.
When working I had inexpensive healthcare coverage and I was not healthy due to the free junk food at work every week.
I now eat only two meals a day and only nutrient-rich foods and nonsynthetic supplements. My health is excellent now.
Do everything you can to stay away from the medical industry. The doctors I had to go to never asked me about my diet. They can't make money from healthy people.
Yep ! LESS THAN 5% of All American M.D.s Have ANY Formal Education in NUTRITION The Number 1 Best Way to Stay HEALTHY !!!
You are so right! same here.
I turn 65 in 5 months. I am a planner, so I have my consultation scheduled with your company next week.
I have picked your company over all the others, because you have the best & clearest info and are honest.
Thanks!
I chose G-HD because I save $210 per month, My savings are 210x12=$2520 per year. If I go to the hospital My deductible is $2800. I lose 2800-2520= $ 280 that year. If don't go to the hospital for a few years I am way ahead of the game I believe.
As always, your videos are most informative. The information about certain insurance companies offering benefits that include becoming a regular G plan but paying the Plan GHD premiums after a few years or after two years being able to switch, without underwriting, to one of the insurance company's other supplement plans.
Unicare used to offer a high deductible plan F that had copays to the dr and emergency room. It has since disappeared. I’m an agent but enjoy your teaching style and am a subscriber.
YES,WHY YES IT IS.ONLY USE IT WHEN SURGERY OR EMERGENCY.
I chose HDG primarily because of the MOOP and knowing this amount can be paid in increments depending upon the service. My budget is extremely limited with social security less than $1800/month. So any payment towards a deductible is a sacrifice. I was adamant that I would not go into MA.
One thing for sure, the HD deductible is no where near the maximum out of pocket limits allowed for Advantage plans.
@@MedigapSeminarsWOW 😮❗️
@@jamescalifornia2964 😊
Wow! Thank you for explaining this correctly! I had believed the “school”saying it differently -thanks for clarifying
You are welcome
Please feel free to comment or ask questions. Please visit us at medigapseminars.org/ Also -download 2024 Medicare rates at medigapseminars.org/resources/
Im turning 64 and im confused but this really lays out the whole blueprint..THANK YOU!
Best way to become unconfused check out the articles and videos on my site. It's a wealth of information: medigapseminars.org/
holy crap! I live in Washington state and the G high deductible plans are $150 to $200 less than the straight G. Definitely no contest there for me since I'm relatively healthy and will be starting Medicare in March at age 70. And around a $100 to 120 less than the N.
INS Co.s with Hi- ded G plans $56 or less are:
Globe Life $54
Medico (Wellabe) $56
Primera Blue Cross $49
United American $48
United World $56
Hi - and in WA state we can go from high deductible to any supplement at any time. See state insurance commissioner handbook.
I pay $210 less per month on premiums with my plan G HD. That is $2500 per year. I am healthy and have already saved $7500 in premiums. Unless I go to hospital, I never reach max out of pocket because Medicare Part B pays 80 pct, so even with deductible, I pay small amounts for Doctor visits fir my 20 pct portion. So, unless I am going to hospital on a yearly basis I come out ahead.
If worse comes to worse, I believe I can switch to Advantage with no underwriting.
You can always switch to an Advantage Plan during annual enrollment with no medical underwriting. But why? The Medicare limit on maximum out of pocket for Advantage Plans is $8,800 in network and $13,300 out of network. You will not improve your healthcare or lower your cost with an advantage plan.
@@MedigapSeminars - Yes. Thank you! That is why I am on Plan G. I cannot imagine a scenario where I would switch. The freedom to go to any hospital or doctor under Medigap is unmatched.
Thank you for another good video. Much better than some of the other so called experts on youtube giving out failty information to increase their commissions.
I'm not on Medicare quite yet. That's coming later this year. I live in NY where supplemental plans are very expensive compared to the rest of the country. On the flip side, I can move between plans without a medical underwriter. Seems to me that either a HD Plan G or a Plan N are the best options as long as the MOOP isn't a problem.
Will Rogers said there is nothing so uncommon as common sense. Combine that with cutting-edge information on Medicare, and you have your outstanding RUclips channel!
Thank you. I appreciate that..and love Will Rogers sayings!
Appreciate your videos. Very informative. Look forward to working with your agency in the not to distant future. Thank you!
Thank you. I hope to hear form you soon.
In NY, the difference between the HD Plan and the full G plan was less than a couple of hundred bucks a year less than the $2,800 deductible. A No Brainer.
Love your videos!
Question for friend who is New York State resident: since you can change Medigap plans at any time without underwriting, if you have G-HD and on November 3 was told you will be incurring major medical expenses, when is the earliest changing to G could be effective, November 4 or December 1?
Usually the first day of the next month.
Loving the information Matt. When I get to 64 and half I'll DEFINITELY be interested in the 2nd HDG example you gave. Where the company charges HDG premium for regular G after 2 years.
Thank you 😄
Is a Medigap Plan L vs a High Deductible G Plan is plan L overall a good choice?
First, thank you very much for this information. 😊
I think the roadblock in my mind to understand ANY of this is the definition of DEDUCTIBLE and how it works. I've come across the terms deductible, coinsurance and premium and they confuse me. But especially deductible. Do you hv a video that is specifically dedicated to the definition of these and their applications? 🥺
Hi - a deductible is the amount you must pay in services BEFORE your insurance plan will pay any benefit. Coinsurance is a percentage of the cost. for example, without a supplement Medicare Pays 80% and you pay 20%. That 20% is coinsurance. A copay is a fixed dollar amount. with Some insurance plans for under 65 you pay a $25 office visit fee. That is a copay. Hope that helps.. medigapseminars.org/contact-us/
@@MedigapSeminars I still don't understand but it's ok. Thank u so, so much for helping me.
@@beekind6267 I understand what you mean. Think of it this way. A co-pay is the set dollar amount in your plan for let's say office visits. I am writing in general terms here not just Medicare terms. So let's say your health plan states if you see a specialist..you must pay $50.00 even though that office visit is really a $400.00 charge w/o insurance. Then you only pay $50.00 and your insurance will cover the rest. A non-specialist may be $35.00. If you didn't have insurance their real charge of $275.00 but the your insurance will cover the rest. Now co-insurance is what you might pay for other services because of high cost. You insurance wants you to pay most times a percentage or a set dollar amount. You might 20% on an X-Ray that could cost $2000.00 - $3000 depending on the location, hospital, etc. Sometimes your co-insurance and co-pays can go towards your deductible sometimes not. It depends on your health insurance plan. Your actual Maximum Out-Of-Pocket expense is called a MOOP. When you reach your MOOP then your plan pays 100% of charges. I hope this helps somewhat. With Medicare , it's your when you reach your DEDUCTIBLE instead that it pays 100%.
For 2023, in my particular market, Alaska, I noticed that the least expensive G-HD plan had a "convert to standard plan G later" feature. The only problem was that even though they were the least expensive G-HD, they were consistently the most expensive standard plan G at a variety of ages.
If it is the one I am thinking of, they also offer benefits like paying for any and all preventive care, even if Medicare denies it, Plus you have the ability to switch plans internally without underwriting. It is more expensive, but has more features. Still, it is not for everyone. I have found the people that tend to appreciate that plan most are those who have been on Medicare and want better preventive care. medigapseminars.org/contact-us/
I was considering plan GHD, but the diff in GHD premium and plan N premium in my area was only about $50-55 per month. My plan N is community rated pricing, with the only company in my state that offers community rated policies. All others are attained age. I would certainly buy plan GHD before I would ever buy a Disadvantage / Part C plan.
Good decision, except I hate to break your bubble. Sounds like you have UHC. Their definition of "community rated" is not accepted in states that mandate community rated plans. The plan you have has a mandatory 3% annual price increase (just like an attained policy), plus any other price increase for inflation. If it has a mandatory 3% annual price increase, it's not really community rated. medigapseminars.org/contact-us/
Thank you for the info sir. I did notice that UHC rates in my home state of NC did not increase their rates on plan N in June from previous year rates. That is according to their current price sheet.They did have a price increase on plan G. I will be 65 in November. The other company I was considering was BCBSNC. They increased their rate in June around the 3% you mentioned. Was with them for years before I retired, and after on the ACA. Their initial rate going in was some higher than UHC for plan N. In the end I may end up averaging about the same amount of total dollars for premiums anyway. I will have six months to change my mind on Medigap companies and plans without concern of medical underwriting. Thanks Again ! @@MedigapSeminars
man i read a lot about uhc they are sharks
@@MedigapSeminars
Which States is HD most advantageous?
Washington state?
@@daviddues4240 Washington State is one, yes. I prefer states that mandate Medigap pricing be either Issue Age or Community Rated. The exception to that is CA.
Great information!!!🙋♀️🙋♀️
Thanks for watching!
Thank you very much for clarifying information!
Glad it was helpful!
Well I spoke to your staff a year ago and they confused me even more regarding a supplemental in NY. I have a "pre-existing condition" that ONLY I know about. I have not been to physician in over 20 years. Can I pick up plan N tomorrow, for example, have the surgery, and have the supplemental pay the balance. Or will the supplemental refuse to pay? I have had Medicare for 4 years without a supplemental plan.
In New York you have a perpetual open enrollment. You can be in the ambulance to the hospital and get a new insurance plan. Except if you have an Advantage plan. If so, you are limited to Advantage Plan enrollment period like the one that started today. medigapseminars.org/contact-us/
@@MedigapSeminars Well the way I understand it, I won't actually be enrolled in the plan for about 30 days. But that is of no consequence to me. I was just wondering if I would have to wait 6 months to be covered for any condition that could be thought of as chronic and possibly pre-existing. For example chronic headaches, joint pain, etc.
Will a medigap plan insist on a 6 month waiting period for payment. And of course this is regarding straight Medicare.
@SKWDMDYT it's all computer info
Change plans then wait a day or 2 for it to change
Then go in
@@SKWDMDYT in order for that 6 month clause to be activated you must be coming off a period of at least 63-days where you had Medicare but did not have an Advantage Plan or supplement. Then, it only involves conditions that you saw a doctor about during that period.
@@MedigapSeminars Thank you. I will be calling your company once again in the very near future, I am a care giver for my 95 year old mother and have little time for myself.
I watched other vids and was under the impression I was not covered until I hit the deductible amount. I now know that is wrong.
My question is in NY, if it makes sense to switch to plan N in December, assuming there is a big chunk of the deductible left, to avoid having to pay the balance of that year’s deductible AND starting the next year’s deductible, if your treatment spans both years? For example, it avoids the possibility of an inpatient stay from 12/30 through 1/3, and having to pay the (assuming no change) $1,600+ deductible in the new year Plus, the balance of my MOOP for the prior year, true?
The risk you take with this strategy is that if you do not hold your supplement plan for at least 6-months, the new plan can have a clause excluding prior conditions for six-months. I usually recommend the HDG for NY knowing that if there is an expensive medical issue of which you have foreknowledge of the expenses (i.e. cancer) you can switch to higher coverage and hold the higher coverage for at least six months.
Awesome traininng. How can i know or find out what states mandate all supplemnt plans to be priced as either issue age or community? Thabks again!
When we send you a qiote we include any state specific information relavent to your situtation. medigapseminars.org/request-a-quote/
Very helpful video, for most people. Unfortunately I live in Wisconsin. Any worthwhile high deductable plans for me? Thanks.
yes medigapseminars.org/contact-us/
I will re-state my question another way.
I live in NY. I just turned 65 and now have Medicare. I call your company and pickup Plan N on Monday.
I have not had medical insurance in 5 years.
I say to myself, now that I have medical insurance, maybe I should have that raised lesion on my leg checked, or maybe that chronic knee pain should be checked, etc. Will my plan N pay for knee replacement surgery , or hospital based surgery to remove a tumor. Or will they insist on a 6 month waiting period for failure to have prior insurance coverage.
🙂 It's a great question. The pre existing insurance clause only applies to conditions you saw a doctor about in the six month period prior to getting a Medicare plan (assuming you had Medicare but not a supplement or advantage plan) The pre existing condition can then only last the amount of time between your doctor visit and getting a supplement, but no more than 6-months. The time restriction is important. Most insurance companies are more lenient than Medicare allows.
Could you please clarified for me. If I have preexistent condition and after retirement from job got Medicare and plan G, plan G will not pay my medical service 6 month?
@@lisaveta8565 No. When you are new to Medicare, you have a clean slate. If, after your initial enrollment period you have Part B but are without either a supplement or an advantage plan for at least 63-days, then you could be subject to pre-existing conditions when you apply for a supplement. That condition would be specific to an issue you visited a medical professional about in the six months prior to enrolling in a supplement. The pre-existing condition could be less than 6 months, but no more.
Excellent video. Do you sell plans for Florida residents?
Only if you have a great portfolio .
Do you work in Hawaii? Can i get HD using the two companies you use specifically the one you mentioned removes the defuctible but keep the HD premium
You are talking to a Kailua HS 1977 grad Of course I work in Hawaii. Unfortunately your choices are limited depending on zip code. medigapseminars.org/contact-us/
@@MedigapSeminars really! I've been here since 1980 when Navy sent me, never left lol
@@micheleyoungblood I spent my High School and some college there because my father was stationed at Pearl Harbor. He was career Navy. My son is Navy too, a Corpsman.
@@MedigapSeminars I was stationed at Barbers Point Air Station. I'm still on my husband's medical and he's younger than me so won't need for a few more years. I have been watching videos for 2 years now to learn but would like to know what some pricing is and specifically if HD G would be good verses N or G so would like to chat if possible soon to obtain more Hawaii specific numbers. Will contact you.
Is the high-deductible plan with the deductible that disappears after two years available in West Virginia?
medigapseminars.org/contact-us/
Is there a good high deductible plan in Florida or is it better to get plan N and is the high rates in Florida statewide or does it vary between counties? Thanks
There is a HDG plan in Florida. And yes rates on all medigap supplements in Florida are priced according to zip code. Miami, Boca Raton and Wellington highest priced I believe but unfortunately Florida in general pricey on the supplements. For an example plan G like $60 more a month than plan N. Plan N great choice for many in Florida. HDG May be also for some. Just an opinion. 🙋♀️🙋♀️🙋♀️
Yes. In fact the HD plan with the most stable premium in the country is in Florida. medigapseminars.org/contact-us/ Plus it's priced as Issue Age
I didn’t realize there were insurance companies that allow you to freely switch from a HD G plan to a regular plan and keep your HD plan premium. Also didn’t know there were insurance companies that would let you switch plans without underwriting if you didn’t live in those few states that allow it. Interesting
They are few and far between. But when an agent / brokers intent is to find the best healthcare coverage for our clients, we find companies like this that are A or even A+ rated. medigapseminars.org/contact-us/
When you switch from a HDG plan or FHD if that’s what you had there is a company that allows the switch in 2 years without the underwriting but you don’t keep the High deductible plan premium. It’s a nice option but your premium will change to the new plan you choose. But if you can change anyway due to good health shop the market place as rate may be better elsewhere. 🙋♀️🙋♀️🙋♀️
I only know of one company that allows the 2 year switch from an HD plan to a regular plan like N or G, 🙋♀️🙋♀️🙋♀️
@@christinedaley5580 There is more than one. Dis you know there is an insurance company where their Medigap plan will pay all preventive care services, even if denied by Medicare?
No I did not. What type of services would those be? Thank you.
@@christinedaley5580 feel free to reach out to us and we can discuss. 800-847-9680
What is the difference between Medicare Plan N and Plan D?
Benefit differences is just that Pan D has no office visit copays. medigapseminars.org/wp-content/uploads/2023/10/2024-Medigap-Benefits-table.pdf Price difference can be substantial. That is why it's just not a good value in most states.
I live in Virginia and was born in 1954 I am just now applying for Medicare. I want to be covered for any kind of procedure I might need, in your opinion what plan would that be?
Well, I am not sure what procedure you might need. But i can say that the intent of Original Medicare is to cover everything medically necessary, and Medicare leans on your doctor to make that determination. Add a supplement and you're good to go. Please medigapseminars.org/contact-us/ Our services are free to the consumer.
Great video. I'm curious why you compared the HDG to Plan N instead of Plan G? It seems like comparing it to Plan G would be more of an apples to apples comparison.
I'm also interested in your opinion of how many years to breakeven is a good value? You stated that 3 or 4 years is not a good value. Is anything less than 3 years a good value in you opinion?
I chose Plan N because it is the lowest premium full coverage plan. Full coverage meaning full hospital and SNF coverage. As far as what is a good value, that truly does lie in eye of the beholder. The intent of the video is to show a method of evaluating value and risk. Every person is going to have a slightly different opinion on what is "worth the risk".
Can you help someone who lives in Missouri?
with Medicare, yes.
Works for me.
So let me get this straight. Say I had 10 claims so far this year and all were for Medicare Part B services. If the first 3 claims met the 2024 Medicare Part B deductible of $240, then on the remaining 7 claims I would only have to pay the remaining amount of the HD G supplement (e.g. $2800 supplement deductible - $240 Medicare Part B deductible = $2560 for the last 7 claims)?
Not associated with the agency. This is my understanding as a layperson.
Once you meet the $240 deductible, Medicare pays 80% of the bill. The remaining 20% is your responsibility until you meet the HD G deductible.
$100 Doctor fee - $80 Medicare = $20
You would pay $20. The $20 counts toward your HD Plan G deductible.
7 claims @ $100 = $700
Medicare 80% = 560
You would pay 20% = $140
The $140 counts toward your HD Plan G deductible.
PS If you are admitted into a hospital, you are using Part A. That does not pay 80%. You can easily end up having to pay the full deductible if you need to go into the hospital. However, once the deductible has been met you pay zero.
@olivern4784 is correct. Another way to look at it is that this will be your insurance: medigapseminars.org/wp-content/uploads/2023/10/2024-Part-APart-B-IRMAA.pdf until your out of pocket expenses meet the Medigap deductible.
@@olivern4784 Very well explained. This is the same way that I understand this plan as well.
This is the 2nd video that you highlight the Musicks at Medicare School. Could it be they have about 100k more subscribers? You provide good info but as far as being ‘stuck’ in a supplement plan you failed to mention another option a few of us have. There’s a few states that have the Birthday Rule. As you know with the birthday rule insureds can change to another Medigap plan with the same level or a lower level of benefits without underwriting. I have that option in my state however, this rule only applies to plans with the same carrier. Other states may allow change to another insurance company. So there’s additional options for a few of us that happen to reside in a state with the birthday rule.
In Illinois the birthday rule is worthless because it does not include "the same carrier" when the carrier has closed down the old pool and opened a new subsidiary. As far as Mr. Musick, it has nothing to do with his number of subscribers. It has everything to do with spreading false information, not understanding his product and confusing people to the point of them making decisions based on false information.
Do excess charges count towards an individuals max out of pocket costs?
no
@@MedigapSeminars Strange since the plan is supposed to cover excess charges. So the max out of pocket could be higher than the $2800 deductible with a HD Plan G?
@@MedigapSeminars Now I'm confused. Just saw this on a page from your website: "Only Plan G and Plan F pay Medicare Part B excess charges. The high deductible versions of these two Medicare supplement insurance plans will credit excess charges to the plan deductible".
@@jeffs3627 That is correct. If the deductible is already met, the HD plans pay the excess charge. If it is not met, then the excess charge goes toward the deductible. For more details and clarification on Excess Charges please see my video "Excess Charges R Dead" ruclips.net/video/eh_RFjGpVo4/видео.htmlsi=nUpugEQ0L81eekg0
The above question should have been answered with "It depends". It depends on if you have a supplement and thn which supplement you have. For example, if you have a Medigap Plan N , A, B, C, D, K, L or M then the answer is NO. If you have a Plan G or F then yes. medigapseminars.org/wp-content/uploads/2024/05/2024-Medigap-Benefits-table.pdf
Thanks for another great video. However, isn't it possible for the OOP cost to actually exceed the G-HD deductible if you incur $2800 in Part A expenses before you meet your $240 Part B deductible? You'd still have to meet that Part B deductible, right?
Hi, thanks for the question. No, it is not possible to exceed the deductible for inpatient and outpatient Medicare in a single calendar year. Remember, Part B is physician services, even while an inpatient.
@@MatthewClaassenCMT
Perhaps I didn't word it correctly. I wasn't talking about the possiblity of being able to individually exceed both the 2024 Part A deductible ($1632) and the Part B deductible ($240). I was talking about a scenario where it might be possible for me to have quickly paid so many Part A expenses that they alone meet the 2024 G-HD deductible ($2800) before I meet the Part B deductible. If that were to happen, wouldn't I still be required to pay the Part B deductible amount? And if so, my total out-of-Pocket expense would then exceed $2800 for 2024.
@@dennislaplant95 no even in that scenario, you would not be obligated to pay the part B deductible. The insurance company would pay it. Sometimes, people do overpay simply because they’re paying bills faster than the insurance companies accounting for it. In which case they’re reimbursed. Medicare medical billing can be adjusted up to a year after billing.
@@dennislaplant95 no even in that scenario, you would not be obligated to pay the part B deductible. The insurance company would pay it. Sometimes, people do overpay simply because they’re paying bills faster than the insurance companies accounting for it. In which case they’re reimbursed. Medicare medical billing can be adjusted up to a year after billing.
@@MatthewClaassenCMTI'm confused. I didn't think G-HD plans could pay the Part B deductible.
Great info
Thank you
Need more information
Great, you know where you can get the information you need medigapseminars.org/contact-us/
I'm still confused!
medigapseminars.org/contact-us/
You are really dogging the two gingerbread men… 😂.
They let their guard down. Truth is, last year and this we are inundated with calls from people confused by their videos. I get tired of having to prove who is right.