I'm turning 67 tomorrow and got accepted for a $148/month. I am really thankful I was approved. I was on Medicare Advantage but after listending to a lot of videos on your channel and others, I decided that I was going onto original Medicare with Part G and a Part D plan. I've heard that there are fewer doctors that will accept Medicare Advantage, and Part G will help pay the 20% that Medicare doesn't cover.
I have stage 4 cancer for 2 years and I hit MOOP with all of HMO plans by mid January! I am so happy that I turn 65 on 8/31 and have already enrolled in Plan G bcuz my premiums are 199.40 a month in my zip code for BCBS , which adds up to 2400.00 for the a year! That is the lowest MOOP I have ever had with any previous policies in my zip code ! The only thing I am not accustomed to paying is the Part D premiums and their co pays for tier 3-5 drugs. But I decided to go ahead and enroll in a stand alone Part D and pay the premiums and co pays for tier 3-5. I first started cancer treatments back in 2015, then was in remission until august 2021 when I became stage 4 so for me, the current premium of 199.40 a month for my plan G is definitely the lowest MOOP I have ever had since my first diagnosis of cancer back in June 2015. So in my case, at this time, a medigap supplement plan G with the 199.40 month premiums is the cheapest MOOP than any previous insurance I had before becoming eligible for Medicare this month! Yay happy birthday to me! 🎉
Bless you sir and wishing you all the best. The very first thing these advisors should stress and the most important is that for Medicare Supplement plans if you become uninsurable you can be quickly in a pickle. I think after the first year you are on Medicare you could be asked to answer health questions for Supplement plans if you want to change companies and/or plans. Also on the reverse my understanding is that in reference to Part D plans you can't become uninsurable, in other words they can't turn you down or single you out and charge you more than anyone else in the plan in the same area and age. You could however pick the wrong plan for you depending on the cost of your drugs and pharmacys hooked into that plan. So for someone like you it's very important during open enrollment to compare on Medicare.gov the Part D plan that fits your drugs and pharmacys. I hope I'm correct on this.
Yeah, the Part D Plans (along with dental and vision) are the real money sucks, even when you have a "G" Supplement. Any drugs administered in the hospital or doctor office will be covered by A or B, but drugs at home can end up costing a fortune, especially those high tier drugs. My wife was in the hospital for two months, being administered high dose antibiotics twice a day every day. All covered 100% by Medicare and our Supplement. Then she got released with 5 days remaining on her regimen. We had to buy the remaining 10 doses on our Part D Plan. I don't remember the tier, but it cost us $2,000.00 out of pocket for 5 days worth of this medication that had been covered 100% for two months while she was in the hospital!
@@alansach8437All plans have there bad parts. My friend has a Bluecross/Bluechip Advantage plan..He pays 174 monthly, certain test are not covered, he also pays extra 33 bucks so if he goes in the hospital, it covers the first 4-5 days then after that he has to pay out of pocket…What’s up with working your whole life and now nothing is free! Had he never worked and was on Medicaid everything would be free…
Thank you for your videos and your help. Just want to say, hope I never have to go to the hospital, but what bothers me, with an HMO, if you go to the Hospital and the hospital has outside Doctors come in and they are not in your network, and the doctor swings by your room and says, ‘how are you doing today,’ and I say very well then, I get a bill for $2000. That is a high price to pay for someone saying, ‘How are you doing.’
The Medicare tax ONLY pays for Medicare Part A, providing health insurance for those age 65 and older and people with disabilities or certain medical issues which is why Part A is free.
Thank you! Great info. I still work full time at 68y/o as a rehab nurse. I currently continue to use my employer’s insurance. This helps me decide what to choose when I turn 70.
@@sammencia7945 I couldnt live on $700 a month and who do you think I am Tdump, I dont underreport income thats fraud and dishonesty and I would be put under the jail for it. I Thank God I had parents who taught me to be a person of integrity. DID YOU GET ALL THAT
@@sammencia7945 After paying for plan G & D each month $700 is about what's left over from my social security check. I worked all my working years, above board and only stopped working to raise my kids for 13 years. I'm 72, collect social security, and am still working (thank God for my good health). The only reason I live well on my income is because I'm debt free and careful how I spend my money. It's not how much you make, it's how well you budget your money.
The deductible for the High Deductible G Plan ($2700 in 2023) unfortunately does not include the $226 deductible for Plan B. Thus the maximum out of pocket for the HDG plan, including premiums,would be $3406, not 3180. However, the higher premiums of the other plans would be a flat cost no matter how little services were actually used. The HDG plan looks like good low cost insurance against medical expenses that are more than $3406. Over the years to come, I’d rather pay for what I actually use rather than high premiums for services I might not need.
Until you get cancer, heart disease or some nagging, chronic issue that requires paying out that high deductible (which will likely climb in the future) year after year after year. Studies also show that many people delay seeking healthcare when they have a high deductible, often causing minor problems to get worse. Sure, if you've got plenty stashed away, and have no problem shelling out that 34 or 35 hundred bucks on top of your premiums (not to mention drug costs that all Medicare recipients can incur that aren't covered, or only partially covered, by even the best Part D plans...no one ever thinks about that), possibly year after year...maybe for the rest of your life, go for it. I feel better paying a little more upfront, but am confident that I'm covered no matter what, and know exactly what my healthcare costs will be, regardless what happens. Nobody ever thinks they are going to get sick.
Many Advantage plans have a max out of pocket of $1000 and offer part B reimbursement. If you're fine with how your employer/aca coverage worked and want to maximize savings, Advantage is something to consider. A medicare advantage plan is still an upgrade from whatever insurance you had prior to turning 65.
All of your comments are welcome on the channel but they are generic and most of them are flat wrong. It’s a waste of time t on explain but anyone who looks at the facts will not listen to you. Medicare advantage is an upgrade from someone’s work coverage when they are under 65? Give me a break
Brian, another very good video. I think the one thing that's missing is looking forward. By that I mean what will be the costs as the years go by. Obviously I don't expect you to have a crystal ball, but you are in a better position than we are to make projections. I think doing so would make your channel the best. This type of analysis is especially useful for those on a fixed income. To avoid any misunderstanding, essentially what I'm saying is add to the charts in this video what they look like at age 70, 75, 80...
While I don’t have Brian’s expertise, it seems to me that already-minimal HDG premiums would increase less percentage-wise than G for two related reasons. 1) Healthier-than-average HDG holders would typically not reach the $2700 deductible threshold, so insurers would pay very few claims. Their HDG policyholders represent pure profit rather than liabilities. 2) G’s guaranteed-issue status means that its holders will overall be less healthy and make many more claims, driving higher year-over-year rate increases. Of course, the HDG deductible will continue to increase (by law, not claims history) with CPI inflation, but so will SSI payments.
@@dan1ob SSI? They took all of my social security away 3 years ago....I make too much, pension of $347,000.00 a year, back then I made $305,000.00 one year and cashed in $4 million stock profits next year...NOT INCLUDING PENSION. Thanks US government...I also am a disabled Vietnam vet, getting a 100% disability from the VA
I can tell you that my wife, 73, is paying a lot for her Plan G medigap, it increases every year. By now, she is paying more each year up front, than she would pay if she just switched to HDG (which I've had all along). Every year I try to convince her to switch to HDG. I think some people don't get it, they don't get that this is medigap, which means it covers you for 20% of the APPROVED Medicare charges. In the case of HDG, true you could pay "as much as" the deductible (like $2500 for me now?) in a given year, but for you to hit that limit, you'd have to have like more than $15,000 inAPPROVED charges in a given year for care. If you are hitting that threshold for expenses you have some serious expenses, although granted sky-high cost of health care. So far in 5 years I've never come anywhere close to that, so I usually pay less than $1000 total with premium -- much better than my wife's $2500/year in premiums. Good vid.
I have an Advantage Plan but although it MAY be accepted everywhere, it DOES NOT accept every doctor everywhere! You MUST find a doctor who operates under the Advantage Plan's provider network or you are SOL for them paying anything.
The problem with being in one of the high deductible F or G plan is that if you suddenly become "uninsurable" you are hung the rest of your life. Example: My mother was on a high deductible plan F and even very healthy but got vascular dementia. Now (unless the laws change and you can't bet on that) she is hung on that plan with a 2700/yr deductible and will never be able to switch.
Very useful video! Two questions: Are the risks of excess charges a bigger issue at big medical institutions and don’t a few states (like NY and PA) prohibit excess charges?
Yes… some states Don’t have excess charges and less than 3% of Docs in the entire country charge excess. It’s not really worth worrying in my opinion but to some people they want 100%
I’m on Social Security and Medicare. The thing that happens is yes we got a three point whatever percent increase last year but my Medicare part B payment also went up by $60 a month more than my cola so I actually took a $60 a month cut. I literally made best decisions when i started working with an advisor..
Watched this video..but I am already in Medicare and had opted for Plan F...my rate per month is now $265 per month...and an addition $98 per month for the part D drug coverage..this comes to close to $400 per month, with the deductible still applying in addition. And i have no vision, dental, etc. covered. The only medicine I have monthly is a prescription that I pay $15.00 for (supposedly after the drug coverage has been taken out.) One time i asked the pharmacist how much it would cost me if I did not have the part D coverage...he said $15.00... so as you can tell, not the best way to live your last years of life...
@Dorothy Stacy…..I am paying $126.80 a month for plan F….next year it will be going up about another $10. My part D drug plan is $7.50 a month….but will be going down to $5.20 a month next year. But I use my SingleCare card most of the time. Sometimes I have paid anywhere from $1 to $5 and change, for the drugs I have purchased. My plan F (in Arizona) is with Aetna/CVS…..and my plan D drug plan is also with Aetna/CVS. I priced other companies, like Blue Cross/Blue Shield, United Healthcare, Cigna, and I can’t remember the names of a couple of other ones…..but those were ALL higher priced for me in Arizona…..I don’t know if they are cheaper in other states? And the one doctor that I really wanted to keep, mainly took Aetna anyway…..so that worked out. So far, I have chose Physicians Mutual for my dental….I haven’t used it yet…..but I sure hope it covers well for the big things. (I’ve seen where even their most expensive level of coverage, at around $56 a month, still only covers expenses at 70%). I’m still shopping around in the meantime for any dental insurance that covers better for a better price…..possibly also including vision too? My husband will need one that covers hearing. I’m hoping that someone reading this that knows of a great plan here in Arizona, can point me in that direction?
I have plan f also! I’m 73 years old . Plus another 99.00 for drug coverage. But, when you’ve had as many hospital stays or visits, as I have, it’s been worth it.
I am not a big gambler, but if I ever win the lottery and win big, I am applying for citizenship in Canada hope they will accept me. For-profit health care is getting to me. The money and all the hoops you have jump through and in the end you still could go bankrupt.
@@kirkcox9162We have rationed healthcare.....rationed to those who can afford it. Rationed according to what kind of insurance you have, and what treatments they will approve. But you are right, of the top thirty industrialized nations, Canada ranked second to last in healthcare, in costs, outcomes etc. The only country that ranked worst? The United States!
So many advisors on You Tube say don’t go with Advantage plans. But it’s a little like telling people not to buy a used car. Many people buy used cars and Advantage plans because of the cost factor, and it can be a great option (and only option) for many people. It is certainly fair to point out the risk factors of Advantage plans, but advisors to often leave out the important factor that we are all not in the same economic situation. l could be wrong.
When you compare buying a used car to an advantage plan, you have to consider being stuck with that car and paying for everything it takes to keep it going. Plan G gives you a new car every year.
HDG for me I’m an limited income living off 1500 a month so 164 out a month is going for B as of June and then Since I’m kinda seeing advantage plan is not good choice for me I want a lower cost but still have Medicare coverage. I’m not on any drugs at this time and stay healthy in all ways I can but for a accident you never know.. I want the peace of mind. Thankyou so much for the visual of the 3 plans.
I am 68 and still working. I have great insurance through my provider, plus my tribe also gives me some medical coverage. I applied for Medicare just in case 18 months ago. No it seems I waited to long to get a Medigap plan.
I'm 90 years old & live in Mich. in 2018 I paid $180.38 a month (2164.56 T/Y) in 2022 $268.79 a month ($3,225.48 T/y) I started the g plan in late 2017 for $162.28 a month.
@@RG-hf4et 99.9 % of the (every company, every plan) of the plan premiums are "age rated". That means the rates can(do) increase with your birthday every year. --- The risk to the insurance company increases with your age. An 80 yr old will be a lot more likely to use expensive health care that yr vs a 65 yr old's expenses. -- Also, the company may ask your state to let it raise rates for everyone because it became costlier to provide care to everyone it insures in your state.(due to medical care cost inflation in your state). Think of investing your own money. You put $ 163 in a savings account with a 3% annual interest rate. In ten yrs you should have $ 219. The same with insurance age rated. If the average yearly increase in premium was 3% a yr for ten years my $ 163 beginning premium could end up being $ 219 a month ten years later. --- That's why you need to get an insurance agent to look over your insurance coverage every yr or two. --- If you can pass a different company's underwriting guidelines, you might be able to find the same plan for a lower monthly cost. If this person is still pretty healthy at age 90, an agent might be able to get them insurance with a different company for less per month.
@@medicare365 It sure does, I'm paying $200 a month for plan N in New York. NY doesn't allow doctors to charge that 15% overcharge however and they don't allow an up charge accounting for age so everyone will pay that amount. In NY, the N plan is really the way to go because it isn't that far from the G plan which is something like $260 a month according to my zip code. $720 a year saved with the N plan will cover a lot of $20 co-pays over the year.
Do you know if Medicare part B will continue to pay for transplant drugs if you were covered by Medicare when you received your transplant? Or do you have to get the specific plan from Medicare which was implemented for 2023? Medicare. Gov states that “ if you didn’t receive your transplant paid for by Medicare, you have to enroll in a separate plan to pay for these medications“ . I checked my wife’s drugs without including plan d paying for them and with them paying for these transplant meds and it’s a big difference in premiums.
Very good easy to follow information. My experience for 15yr high cholesterol numbers. True vegan for 1 month with blood work before and after. Lowered numbers by 80pts. 13 years later, not a vegan, low fat organic, no processed food. Numbers still over 260. Stopped all dairy except 1 egg daily and plain yogurt. No bottled salad dressing, mostly fish, some chicken. 2 months lowered by 48 points. No longer eat crackers, chips or soda for over 10years. Stopped ALL takeout food 10 yrs ago. Do not crave sweets. Only dark chocolat, read for NO HIGH FRUCTOSE SYRUP!! Simple dietary life saving little changes. Google easy to find good chef quality receipes. Bon appitit.
Brian, Great videos and I'm so grateful to hear about plan G that I chose... medicare Luv to make it so confusing with all their jumbles of Terms & bologna offers ... you do a fantastic job! .... btw,. . Who is your favorite tennis player, Serena ¿ 🎉
Can you up your medigap plan later? Like if you get the high deductible cheaper plan G and at another time switch up to the mire expensive not high deductible plan?
Is the HDG plan Moop a deductible you have to pay up front and meet that amount before insurance pays anything, or is it out of pocket total and you pay 20 % for services, and medicare pays 80 % until you meet the 2700 ?
I live in Florida and my plan N costs $141 a month. But the plan G costs $210 a month and I get almost all of my medical care through the Indian health service so I don’t see any reason to pay the extra amount.
Can we switch insurance companies without underwriting with plan G? For example, let’s say I start with United Health Care supplemental plan G. If I am not happy with their customer service, can I switch to another insurance company’s plan G, without underwriting?
Probably not, especially if you are pass 6 months from your Part B effective date (see your red, white and blue Original Medicare card). P.S> - What kind of service work did/do you need? Medicare Supplements are pretty easy. No bill from the hospital. The first $240 of bills for services outside the hospital are on you and after the insurance pays everything else. That shouldn't require a bunch of phone calls to 1-800-Insurance Company.
What about rates of increase year over year? Maybe you need to review your statement about not mattering what In’s. Company is selected. Not good, in my book.
Advantage puts you completely at the mercy of the insurance companies. You can be denied coverage during underwriting. Then for any given treatment, insurance companies can determine the treatment unnecessary and not approve coverage. This may not happen immediately however when the plan becomes unprofitable or the insurance company decides to raise rates, you will have no option but to pay. No appeal, nothing. Be very careful. The G plan is the only guarantee of rates and procedure coverage.
If you are basicly healthy the Medicare Advantage will save you so much money. There's a maximum out of pocket you will have to pay with Medicare Advantage. I have saved $25,000 in premiums over the years. With the maximum I might have to pay with Medicare Advantage in the future I will still be way ahead. Make sure your Medicare Advantage is a PPO and yor doctor's and hospitals are in the plan. If you have major health problems before 65 then yes consider a gap policy.
The major Medicare Advantage insurers are in all 50 states. If you have a PPO you will be fine if traveling. Even so the maximum out of pocket in my plan is $5500. My wife and I would be paying that much for gap premiums every year. We are way ahead by choosing a PPO advantage plan.
@@AS-tt8ui You're good with an Advantage plan as long as you're healthy. As long as you don't use or need the insurance. BUT--- Don't come down with cancer. Or a heart attack or heart failure. With cancer and chemo, you'll blow through your max-out-of-pocket in a hurry because those drugs are Part B and will pay pay 20% of their cost. Medicare Advantage plan costs for heart failure treatment/hospitalizations/complications can blow through the out-of-pocket max quickly. Medigap plans will lower your out of pocket costs if you start using medical care or get a "big" diagnosis.
To be eligible for plan F you have to have been plodding the treadmill to oblivion for at least 69 years... I plan to join Mr Allen in Oblivion in a few years 8-) Looking forward to it - I heard Sisyphus runs the gym there, and Fred's doing weekly standup.
I just spoke to my doctor he's a pain management physician. He told me that he only has regular medicare and they only pay eighty percent. But his premiums are high. Of course, he is working my situation. I am on permanent disability at 65 I was given a Medicare advantage plan. At age sixty five I was transferred to medicare advantage plan. I am sixty eight now and I have been happy with it. Should I Switch next year. Is it changing?
YES! The very long wait to get needed approval on referrals are causing patients to not get the medical care they need timely resulting in care needed treatment getting worse than it should have because of their referral procedures!
Do you have any comments to add regarding this for states that ALLOW excess costs to be billed back to customers? I live in Wisconsin. How much could I get hit with in a G Plan??
I am not 100% sure of your question, but Massachusetts, Minnesota and Wisconsin did not standardize their policies the way everyone else did. In Wisconsin there is only one plan available. What's covered? The Part A coinsurance or copayment for: Inpatient hospital care Skilled nursing facility care Hospice care 175 days of inpatient mental health care per lifetime, in addition to what Medicare covers 40 home health care visits, in addition to what Medicare covers The Part B coinsurance (generally 20% of the Medicare-approved amount) for medical costs 3 pints of blood each year Benefits that Wisconsin must offer (known as state-mandated benefits) Note: Plans known as "50% and 25% Cost-sharing Plans" are available. These plans are similar to standardized Plans K (50%) and L (25%). A high-deductible plan is also available. Insurance companies can add more coverage to the Medigap policy. You may choose any or all of these options to design a Medigap policy that meets your needs: Part A deductible Additional home health care (365 visits including those paid by Medicare) Part B deductible Part B excess charge Foreign travel emergency care 50% Part A deductible Part B copayment or coinsurance
Your Part B premium will come directly out of your social security benefit before you get your SS benefit payment, so it's not like you can negotiate that price.
@@romeliatabalba4287 Part D is Prescription Drug Coverage and is a separate coverage provided by private health insurance companies, so no it doesn't come out of SS, you pay it on your own as a monthly premium.
You have to pay that. The government collects it out of your Social Security check. If you aren't receiving a Social Security check, they will bill you. If you are low income/low assets, there are ways that the Part B premium can be eliminated. If you are a high earner (currently $103,000 if single and $206,000 if married), you actually pay more than the current standard amount of $174.70.
im 62 been on SSDI for over 20 years my husband retired hes 60 but they had me go on medicare advantage OOP 3700 I never had to pay much at all before this I have drugs but Out of Pocket is more with this plan I guess I dont know if I should change back to original medicare or stay on this plan We just started in Feb 2024 and I have already have the insurance send me two checks that they wanted 50 per visit so I had 100 and they gave me most of it back I dont understand why I just could did original medicare a And B and possibly drugs would be same or higher
I will be buying my retirement home next year, I have many options, so how much of a difference does a zip code make? Is living in a big city better than the country or vice versa?
@@medicare365 I currently live in Lakeland, Florida, but planned to move to north Florida around the Live Oak area. But I could keep going into, say, Valdosta, Ga. Houston, Texas is another option. around Cypress, Tx. Thank you for helping.
@@medicare365 If a plan G enrollee moves to a different zip code, can their premiums be lower to match that zip code, or will they remain the same as they were paying in a higher rated zip code?
@@-myal-8691 My prior insurance provider was constantly verifying my residency I assume becauae I used healthcare out of state. If you move to a different location that has lower rates you should get that rate.
I believe Medicare Supplements are available in every state in the country. Medicare Advantage Plans are probably available in over 90% of the country. Wisconsin, Minnesota and Massachusetts have their own unique Medicare Supplement plans as they did not standardize their plans the way the rest of the country did on July 31, 1992.
On a gap plan you need to purchase additional coverage for drugs, dental, eye coverage. Kind of a big deal. This guy gets commission for these monthly premiums.
Brian, thx for the informative video. I am a Canadian, 72 years old, retired and living in Toronto. I presently have Medicare Part A and will be applying to also get Part B in January 2023. As I am not a US resident, can I buy a supplemental Plan also after my part B is confirmed in January / February ?
If you are Medicare eligible you can buy a Med Sup plan from any company but keep in mind Medicare nor your Medicare supplement plan is NOT going to pay any medical services OUTSIDE the USA.
I u take a cholesterol, BP, and levothryroxine generics you can get a 3 month supply for $10 ($3.33/mo) of most of these at Walmart without a drug plan. these a
From Plan F to G? You will be asked many questions about your health. You will need an underwriter...Anything like AFib...they can refuse you...Asthma.....A few other chronic conditions....You can be refused to be accepted for the G Plan. It is discriminatory! You have to be completely clear for 2 years before you can be considered for a G. Disadvantage Plans are for HEALTHY people!
@@kathleenmosteller4424 My wife successfully switched from F to G and is saving $ on the premium. I have more medical issues and was not accepted to plan G due to underwriting. Bummer! My understanding is that premiums on F will increase faster than G in the future as F enrollees decline. Bummer again! 🤷🏻♂️. I’m not sure why Medicare no longer accepts new enrollees into plan F unless F costs them more in the long run. Of course, plan G does have the deductible that F does not have. We looked into Advantage plans for 2023, but decided they are a big gamble for people our age (77, 79) who have more medical issues currently and risk of new ones. Advantage plans have too many unknowns, copays, and coinsurance %.
These prices are peanuts..........IRMAA took away all of my social security, because I made over $99,000 per year two years in a row.......I also paid over $2 million federal income tax in 3 years, but medical care is cheap
There’s a bill pending in House Ways and Means committee called “Health Savings for Seniors Act” that would allow Medicare beneficiaries to keep contributing to their HSA. I hope it has a chance to pass in the lame duck session with the Secure 2.0 Act.
@@garybala000 Wow! Thank you, Gary, I hadn't heard of that, will look out for it. It only makes sense, as the HSA's were supposedly for 'high deductible medical plans, and, it's in the Plan G-HD name! 🤣.
@@lisaquigley-moon9583 We can only keep contributing to HSA's while on an approved high-deductible health care plan (which I think most are these days). The money saved in to the HSA is always there for us. It can also be invested somewhat. When used for strictly medical expenses, whatever is spent is also not taxed. If we decide to spend it on something other than medical, it is subject to taxes like an IRA (ordinary income).
So to clarify. When I sign up for Medicare and I want a Medigap G I go find the company and choose who I want. Then I have to go find a company for my drug coverage or is it included in my G plan?
It is best to choose a national, well known company with a high financial rating who has a long history in the Medicare space and then select the one with the best pricing. You will also have to select a drug plan (Part D) because Plan G does not provide drug coverage.
@@medicare365 I've been on Plan G since I turned 65. I use Good Rx and another discount card, I think is Singlecare. I also get as many samples from Dr office.
I just found your channel, great information! New subscriber here. One thing, I was told Medigap plan N was no longer available for people just entering into Medicare? Is this true?
It’s actually Plan F, not N, that is no longer available for newly eligible Medicare folks. You really don’t want Plan F anyway. It’s considered “first dollar coverage”, meaning everything is covered but it’s just too expensive and thus considered not a great value vs. Plan G. Myself I like Plan N.
Pensacola, your so right. More alarming to me than the cost for Healthcare in the US is the inconsistency and inequality of the care and services provided. And it only seems to be getting worse with the shortage of Healthcare providers. Just comparing the annual per capita cost of Healthcare in the US to the average lifespan is concerning. We have the highest costs and aren't in the top ten countries as far as longevity.
Actually, the highest premiums for a couple would be about $6,500 for the high deductible 'G' plan. But only $4,000 per couple if you picked the regular G plan.
Sir, I don't like crooks either but this man is trying to make a fair living providing the best knowledge he can to all of us so we have information to make our own decisions. I don't see bias in his information, I think he is giving some opinions he honestly believes and I think he is giving a fair assessment. There's some valuable things he is teaching here. Everybody has a right to make their own decisions and also get other opinions and he has a right to be paid for his work and efforts if he provides a service to someone. He even directed people to Medicare.gov for assistance he didn't have to do.
MUST YOU START SENTENCES WITH "SO"!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Obviously, you are selling supplemental insurance and totally misleading people. This is not research, people; this is a sales pitch. DO YOUR RESEARCH.
@ronrae Sounds like you are a lobbyist for Advantage Plans where you pay no monthly premium right? Well God forbid you get really sick, and have to go to doctors, and hospitals then tell me how great your Advantage Plan is after you pay for ALL those daily hospital charges, and OOP tests they'll run on you. And, If you need an ambulance you'll have to pay for it too. Though It's your choice, and that's what makes America so great! Insurance companies are the ones getting rich from these Advantage Plans, and why they lobby Congress so much for them. BTW; the insurance companies pay out higher commissions to the sales people who sell AP's vs what Supplemental plan sales people get.
@@jamesb6216 My maximum out of pocket in my Advantage plan is 5500. My wife and I would pay that much in premiums each year with a gap policy. Insurance companies make more money on Advantage plans because healthy people pick them because they save so much money.
Brian, what to do,,what to do,, I’m on SSDI low income I’m at advantage plan but I’m 65 and will like to switch to original Medicare, some people advise me to call ship or SSA.gov for extra help I don’t know exactly how that is, I do have A and B any advice I appreciated thanks 🙏
I hope you called Brian. I'm in your same situation. Under 65. Could only have Advantage plans for the past years. Hate them. Hate going through selecting one every yr because they keep changing benefits and copay costs every yr. Keep changing drug formularies every year. -- If you're on SSDI, do you get any "Extra Help" from Medicare for your drug costs? Do you qualify for extra help with Part B premiums? ( one of the Medicare Savings Programs). Talk to some one with your state's SHIP program. They might help you apply with your state's Medicaid department to see if you qualify for any of that extra help. No matter if you get any extra help, call Brian. He can help you find Medicare Supplement if you want to get away from the Advantage plans. ---- I called and talked to him. Had him do 'signing me up" for a supplement. Also had him sign me up for a drug plan I found.( I could do the drug plan shopping based on my meds and the plans available in my zip code) I think he got it all set up correctly, because I saw that my coverage dates on my Advantage plan's website changed to "Jan 1st to March 31st". That's when my Advantage plan needs to end and my drug plan needs to start. He's a good guy. He'll give you some of the good and bad about some of the companies so you can decide what company and plan you want. (I already had my "choices" narrowed down based on cost in my state. I needed his experience and knowledge of rate increases, customer service if you have a problem, etc. He helped narrow my choices down. Told me about companies to avoid. I called him back when I picked one out of two. He did the "paper" work. (web based work).
I want to wish you a BEAUTIFUL day today in Thanksgiving today it is a special day to gather around and eat a special dinner with God and have a beautiful prayer I also want to tell you that many people like your CHANELL even THOW many people are not around. But people like you people never forget it's me the beautiful GIRL FROM CALEXICO CA KINGS OF the valley Egypt stopping BYE and wishing you and your family in this special day and GOD bless you brain always and thank you FOR always spending your time to help us out in paying for less and get the best Medicare and Christmas it's just around the corner 🎅🎄💝🎅💝🎄🎅💝🎄🎅💝🎄🎅💝🎄🎅💝🎄🎅💝🎄🎅💝🎄🎅💝🎄🎅💝🎄🎅💝🎄
I’m on Social Security and Medicare. The thing that happens is yes we got a three point whatever percent increase last year but my Medicare part B payment also went up by $60 a month more than my cola so I actually took a $60 a month cut. I literally made best decisions when i started working with an advisor..
I hear you; it's tough when COLA increases barely keep up with rising costs, and with Medicare premiums possibly going up again, it could feel even tighter this year. Having an advisor on your side is a great call-they can help you navigate these changes and make the most of what you’re getting. Here’s hoping for some better adjustments soon!!
Totally agree. A good financial adviser is a game-changer. My portfolio is balanced for all market conditions, and it has returned 120% since early last year. My adviser and I are now working toward hitting a seven-figure goal, which could take another year._
My CFA Julianne Iwersen Niemann, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
![BLACK BAG - Official Trailer [HD] - Only in Theaters March 14](http://i.ytimg.com/vi/Du0Xp8WX_7I/mqdefault.jpg)
Plan G, period, that is to only way to go for the most piece of mind.
Thank you!
I'm turning 67 tomorrow and got accepted for a $148/month. I am really thankful I was approved. I was on Medicare Advantage but after listending to a lot of videos on your channel and others, I decided that I was going onto original Medicare with Part G and a Part D plan. I've heard that there are fewer doctors that will accept Medicare Advantage, and Part G will help pay the 20% that Medicare doesn't cover.
I have stage 4 cancer for 2 years and I hit MOOP with all of HMO plans by mid January! I am so happy that I turn 65 on 8/31 and have already enrolled in Plan G bcuz my premiums are 199.40 a month in my zip code for BCBS , which adds up to 2400.00 for the a year! That is the lowest MOOP I have ever had with any previous policies in my zip code ! The only thing I am not accustomed to paying is the Part D premiums and their co pays for tier 3-5 drugs. But I decided to go ahead and enroll in a stand alone Part D and pay the premiums and co pays for tier 3-5. I first started cancer treatments back in 2015, then was in remission until august 2021 when I became stage 4 so for me, the current premium of 199.40 a month for my plan G is definitely the lowest MOOP I have ever had since my first diagnosis of cancer back in June 2015. So in my case, at this time, a medigap supplement plan G with the 199.40 month premiums is the cheapest MOOP than any previous insurance I had before becoming eligible for Medicare this month! Yay happy birthday to me! 🎉
God bless you.
@@jdenino6022 thank you so much sweetheart ☀️
Bless you sir and wishing you all the best. The very first thing these advisors should stress and the most important is that for Medicare Supplement plans if you become uninsurable you can be quickly in a pickle. I think after the first year you are on Medicare you could be asked to answer health questions for Supplement plans if you want to change companies and/or plans.
Also on the reverse my understanding is that in reference to Part D plans you can't become uninsurable, in other words they can't turn you down or single you out and charge you more than anyone else in the plan in the same area and age. You could however pick the wrong plan for you depending on the cost of your drugs and pharmacys hooked into that plan. So for someone like you it's very important during open enrollment to compare on Medicare.gov the Part D plan that fits your drugs and pharmacys. I hope I'm correct on this.
Yeah, the Part D Plans (along with dental and vision) are the real money sucks, even when you have a "G" Supplement. Any drugs administered in the hospital or doctor office will be covered by A or B, but drugs at home can end up costing a fortune, especially those high tier drugs. My wife was in the hospital for two months, being administered high dose antibiotics twice a day every day. All covered 100% by Medicare and our Supplement. Then she got released with 5 days remaining on her regimen. We had to buy the remaining 10 doses on our Part D Plan. I don't remember the tier, but it cost us $2,000.00 out of pocket for 5 days worth of this medication that had been covered 100% for two months while she was in the hospital!
@@alansach8437All plans have there bad parts. My friend has a Bluecross/Bluechip Advantage plan..He pays 174 monthly, certain test are not covered, he also pays extra 33 bucks so if he goes in the hospital, it covers the first 4-5 days then after that he has to pay out of pocket…What’s up with working your whole life and now nothing is free! Had he never worked and was on Medicaid everything would be free…
Thank you for your videos and your help. Just want to say, hope I never have to go to the hospital, but what bothers me, with an HMO, if you go to the Hospital and the hospital has outside Doctors come in and they are not in your network, and the doctor swings by your room and says, ‘how are you doing today,’ and I say very well then, I get a bill for $2000. That is a high price to pay for someone saying, ‘How are you doing.’
What I don't get is that I paid into Medicare for 45 years as a worker, and now I'm age 65 and must pay $174 AND $140 per month to be covered. WTF.
The Medicare tax ONLY pays for Medicare Part A, providing health insurance for those age 65 and older and people with disabilities or certain medical issues which is why Part A is free.
Thank you for this public service!
Thank you! Great info. I still work full time at 68y/o as a rehab nurse. I currently continue to use my employer’s insurance. This helps me decide what to choose when I turn 70.
Its so sad, what are the poor senior citizens supposed to do, these premiums are too high
What have you done for 55 years?
Is your SSA $700 a month?
Did you underreport income for decades?
@@sammencia7945 I couldnt live on $700 a month and who do you think I am Tdump, I dont underreport income thats fraud and dishonesty and I would be put under the jail for it. I Thank God I had parents who taught me to be a person of integrity.
DID YOU GET ALL THAT
@@sammencia7945 After paying for plan G & D each month $700 is about what's left over from my social security check. I worked all my working years, above board and only stopped working to raise my kids for 13 years. I'm 72, collect social security, and am still working (thank God for my good health). The only reason I live well on my income is because I'm debt free and careful how I spend my money. It's not how much you make, it's how well you budget your money.
The deductible for the High Deductible G Plan ($2700 in 2023) unfortunately does not include the $226 deductible for Plan B. Thus the maximum out of pocket for the HDG plan, including premiums,would be $3406, not 3180.
However, the higher premiums of the other plans would be a flat cost no matter how little services were actually used. The HDG plan looks like good low cost insurance against medical expenses that are more than $3406. Over the years to come, I’d rather pay for what I actually use rather than high premiums for services I might not need.
Totally agree.
Until you get cancer, heart disease or some nagging, chronic issue that requires paying out that high deductible (which will likely climb in the future) year after year after year. Studies also show that many people delay seeking healthcare when they have a high deductible, often causing minor problems to get worse. Sure, if you've got plenty stashed away, and have no problem shelling out that 34 or 35 hundred bucks on top of your premiums (not to mention drug costs that all Medicare recipients can incur that aren't covered, or only partially covered, by even the best Part D plans...no one ever thinks about that), possibly year after year...maybe for the rest of your life, go for it. I feel better paying a little more upfront, but am confident that I'm covered no matter what, and know exactly what my healthcare costs will be, regardless what happens. Nobody ever thinks they are going to get sick.
@@alansach8437 a " little more" ? Propper planning...
Thank you Brian. I was so confused, however, after watching your video, I am ready to make a decision for 2023.😀
Many Advantage plans have a max out of pocket of $1000 and offer part B reimbursement. If you're fine with how your employer/aca coverage worked and want to maximize savings, Advantage is something to consider. A medicare advantage plan is still an upgrade from whatever insurance you had prior to turning 65.
All of your comments are welcome on the channel but they are generic and most of them are flat wrong. It’s a waste of time t on explain but anyone who looks at the facts will not listen to you. Medicare advantage is an upgrade from someone’s work coverage when they are under 65? Give me a break
Brian, another very good video. I think the one thing that's missing is looking forward. By that I mean what will be the costs as the years go by. Obviously I don't expect you to have a crystal ball, but you are in a better position than we are to make projections. I think doing so would make your channel the best. This type of analysis is especially useful for those on a fixed income. To avoid any misunderstanding, essentially what I'm saying is add to the charts in this video what they look like at age 70, 75, 80...
Will do. I appreciate your input. Thanks
While I don’t have Brian’s expertise, it seems to me that already-minimal HDG premiums would increase less percentage-wise than G for two related reasons. 1) Healthier-than-average HDG holders would typically not reach the $2700 deductible threshold, so insurers would pay very few claims. Their HDG policyholders represent pure profit rather than liabilities. 2) G’s guaranteed-issue status means that its holders will overall be less healthy and make many more claims, driving higher year-over-year rate increases. Of course, the HDG deductible will continue to increase (by law, not claims history) with CPI inflation, but so will SSI payments.
@@dan1ob SSI? They took all of my social security away 3 years ago....I make too much, pension of $347,000.00 a year, back then I made $305,000.00 one year and cashed in $4 million stock profits next year...NOT INCLUDING PENSION. Thanks US government...I also am a disabled Vietnam vet, getting a 100% disability from the VA
I can tell you that my wife, 73, is paying a lot for her Plan G medigap, it increases every year. By now, she is paying more each year up front, than she would pay if she just switched to HDG (which I've had all along). Every year I try to convince her to switch to HDG. I think some people don't get it, they don't get that this is medigap, which means it covers you for 20% of the APPROVED Medicare charges. In the case of HDG, true you could pay "as much as" the deductible (like $2500 for me now?) in a given year, but for you to hit that limit, you'd have to have like more than $15,000 inAPPROVED charges in a given year for care. If you are hitting that threshold for expenses you have some serious expenses, although granted sky-high cost of health care. So far in 5 years I've never come anywhere close to that, so I usually pay less than $1000 total with premium -- much better than my wife's $2500/year in premiums.
Good vid.
I have an Advantage Plan but although it MAY be accepted everywhere, it DOES NOT accept every doctor everywhere!
You MUST find a doctor who operates under the Advantage Plan's provider network or you are SOL for them paying anything.
The problem with being in one of the high deductible F or G plan is that if you suddenly become "uninsurable" you are hung the rest of your life. Example: My mother was on a high deductible plan F and even very healthy but got vascular dementia. Now (unless the laws change and you can't bet on that) she is hung on that plan with a 2700/yr deductible and will never be able to switch.
Thanks for sharing. Most people don’t understand that
There are some states that let you switch Medicare supplemental plans without underwriting.
Very useful video! Two questions: Are the risks of excess charges a bigger issue at big medical institutions and don’t a few states (like NY and PA) prohibit excess charges?
Yes… some states Don’t have excess charges and less than 3% of Docs in the entire country charge excess. It’s not really worth worrying in my opinion but to some people they want 100%
I’m on Social Security and Medicare. The thing that happens is yes we got a three point whatever percent increase last year but my Medicare part B payment also went up by $60 a month more than my cola so I actually took a $60 a month cut. I literally made best decisions when i started working with an advisor..
I have HDG plan for $32.32 in CA because I am healthy.
I'll get G plan after I turn 70 if I can qualify.
They dont mention plan F. A Humana agent told me, if u can get plan F, jump in with both feet. F means full.
A Humana agent? Not a broker? I’d take that advice as fast as I’d take a cigarette from someone who said it doesn’t cause cancer.
What’s wrong with f or f high deductible ? Please tell us
@@-moses-6898I don’t think F is available anymore.
You have to be born before 1955. I was able to get the F plan because my birthday was before 1955.
Massachusetts' Plan 1 is terrific. And Mass has no extra charges, and no underwriting.
Thank you so much Brian for explaining everything with plan G
Watched this video..but I am already in Medicare and had opted for Plan F...my rate per month is now $265 per month...and an addition $98 per month for the part D drug coverage..this comes to close to $400 per month, with the deductible still applying in addition. And i have no vision, dental, etc. covered. The only medicine I have monthly is a prescription that I pay $15.00 for (supposedly after the drug coverage has been taken out.) One time i asked the pharmacist how much it would cost me if I did not have the part D coverage...he said $15.00... so as you can tell, not the best way to live your last years of life...
Call my office. 1-844-552-7426. I’m pretty sure we can save you a lot of money
Can I ask how old are you? I have plan F high deductible and Part D together only $80/month. I am 72.
No doubt this expert can save you a lot of money...DAN
@Dorothy Stacy…..I am paying $126.80 a month for plan F….next year it will be going up about another $10. My part D drug plan is $7.50 a month….but will be going down to $5.20 a month next year. But I use my SingleCare card most of the time. Sometimes I have paid anywhere from $1 to $5 and change, for the drugs I have purchased.
My plan F (in Arizona) is with Aetna/CVS…..and my plan D drug plan is also with Aetna/CVS. I priced other companies, like Blue Cross/Blue Shield, United Healthcare, Cigna, and I can’t remember the names of a couple of other ones…..but those were ALL higher priced for me in Arizona…..I don’t know if they are cheaper in other states? And the one doctor that I really wanted to keep, mainly took Aetna anyway…..so that worked out.
So far, I have chose Physicians Mutual for my dental….I haven’t used it yet…..but I sure hope it covers well for the big things. (I’ve seen where even their most expensive level of coverage, at around $56 a month, still only covers expenses at 70%). I’m still shopping around in the meantime for any dental insurance that covers better for a better price…..possibly also including vision too? My husband will need one that covers hearing. I’m hoping that someone reading this that knows of a great plan here in Arizona, can point me in that direction?
I have plan f also! I’m 73 years old . Plus another 99.00 for drug coverage. But, when you’ve had as many hospital stays or visits, as I have, it’s been worth it.
I am not a big gambler, but if I ever win the lottery and win big, I am applying for citizenship in Canada hope they will accept me. For-profit health care is getting to me. The money and all the hoops you have jump through and in the end you still could go bankrupt.
Canada has a horrible medical system high taxes rationed services and worse
LOL
Health is wealth. Stay healthy
@@kirkcox9162We have rationed healthcare.....rationed to those who can afford it. Rationed according to what kind of insurance you have, and what treatments they will approve. But you are right, of the top thirty industrialized nations, Canada ranked second to last in healthcare, in costs, outcomes etc. The only country that ranked worst? The United States!
And Canada also has rationed health care but it is much worse.
So many advisors on You Tube say don’t go with Advantage plans. But it’s a little like telling people not to buy a used car. Many people buy used cars and Advantage plans because of the cost factor, and it can be a great option (and only option) for many people. It is certainly fair to point out the risk factors of Advantage plans, but advisors to often leave out the important factor that we are all not in the same economic situation. l could be wrong.
When you compare buying a used car to an advantage plan, you have to consider being stuck with that car and paying for everything it takes to keep it going. Plan G gives you a new car every year.
Good analogy used car vs new car each year. Great info.
That was fantastic!
WOW plan g sounds like a great plan thanks Brian
You bet
HDG for me I’m an limited income living off 1500 a month so 164 out a month is going for B as of June and then Since I’m kinda seeing advantage plan is not good choice for me I want a lower cost but still have Medicare coverage. I’m not on any drugs at this time and stay healthy in all ways I can but for a accident you never know.. I want the peace of mind. Thankyou so much for the visual of the 3 plans.
What’s wrong with plan F or F high deductible ? Please tell us
Thank you for your help
Sure thing
I have come to the conclusion that N will likely be rhe most stable plan and best choice for me.
Sound choice
Same for me
I am 68 and still working. I have great insurance through my provider, plus my tribe also gives me some medical coverage. I applied for Medicare just in case 18 months ago. No it seems I waited to long to get a Medigap plan.
I'm 90 years old & live in Mich. in 2018 I paid $180.38 a month (2164.56 T/Y) in 2022 $268.79 a month ($3,225.48 T/y)
I started the g plan in late 2017 for $162.28 a month.
How come it increased so much every year?
@@RG-hf4et 99.9 % of the (every company, every plan) of the plan premiums are "age rated". That means the rates can(do) increase with your birthday every year. --- The risk to the insurance company increases with your age. An 80 yr old will be a lot more likely to use expensive health care that yr vs a 65 yr old's expenses. -- Also, the company may ask your state to let it raise rates for everyone because it became costlier to provide care to everyone it insures in your state.(due to medical care cost inflation in your state).
Think of investing your own money. You put $ 163 in a savings account with a 3% annual interest rate. In ten yrs you should have $ 219. The same with insurance age rated. If the average yearly increase in premium was 3% a yr for ten years my $ 163 beginning premium could end up being $ 219 a month ten years later. ---
That's why you need to get an insurance agent to look over your insurance coverage every yr or two. --- If you can pass a different company's underwriting guidelines, you might be able to find the same plan for a lower monthly cost.
If this person is still pretty healthy at age 90, an agent might be able to get them insurance with a different company for less per month.
Good explanation Tim
I know a lady who is 98 and has BCBS plan F and never changed her insurance. She is paying over 1k amonth now.
My nonsmoking spouse is paying $190.00 a month for Plan G through Aetna. That is a lot higher than the $140.00 "average" quoted.
It depends on the city and state you live in, plus your age
@@medicare365 It sure does, I'm paying $200 a month for plan N in New York. NY doesn't allow doctors to charge that 15% overcharge however and they don't allow an up charge accounting for age so everyone will pay that amount. In NY, the N plan is really the way to go because it isn't that far from the G plan which is something like $260 a month according to my zip code. $720 a year saved with the N plan will cover a lot of $20 co-pays over the year.
@@medicare365Plan G in FL is $225 on average. N averages $190. My HDF is $69/month
Good morning. Great video
Great video Brian. Thanks
Thanks for watching
Do you know if Medicare part B will continue to pay for transplant drugs if you were covered by Medicare when you received your transplant? Or do you have to get the specific plan from Medicare which was implemented for 2023? Medicare. Gov states that “ if you didn’t receive your transplant paid for by Medicare, you have to enroll in a separate plan to pay for these medications“ . I checked my wife’s drugs without including plan d paying for them and with them paying for these transplant meds and it’s a big difference in premiums.
Very good easy to follow information. My experience for 15yr high cholesterol numbers. True vegan for 1 month with blood work before and after. Lowered numbers by 80pts. 13 years later, not a vegan, low fat organic, no processed food. Numbers still over 260. Stopped all dairy except 1 egg daily and plain yogurt. No bottled salad dressing, mostly fish, some chicken. 2 months lowered by 48 points. No longer eat crackers, chips or soda for over 10years. Stopped ALL takeout food 10 yrs ago. Do not crave sweets. Only dark chocolat, read for NO HIGH FRUCTOSE SYRUP!! Simple dietary life saving little changes. Google easy to find good chef quality receipes. Bon appitit.
Thanks
What plan for vets. I have 0 pay and money back to ss. I was thinking of going on a G plain but it's 385 a month in ny
Brian, Great videos and I'm so grateful to hear about plan G that I chose... medicare Luv to make it so confusing with all their jumbles of Terms & bologna offers ... you do a fantastic job!
.... btw,. . Who is your favorite tennis player, Serena ¿ 🎉
Glad it was helpful!
Can you up your medigap plan later? Like if you get the high deductible cheaper plan G and at another time switch up to the mire expensive not high deductible plan?
First time video. New subscriber!
Is the HDG plan Moop a deductible you have to pay up front and meet that amount before insurance pays anything, or is it out of pocket total and you pay 20 % for services, and medicare pays 80 % until you meet the 2700 ?
I live in Florida and my plan N costs $141 a month. But the plan G costs $210 a month and I get almost all of my medical care through the Indian health service so I don’t see any reason to pay the extra amount.
Theres your plan n!
Can we switch insurance companies without underwriting with plan G? For example, let’s say I start with United Health Care supplemental plan G. If I am not happy with their customer service, can I switch to another insurance company’s plan G, without underwriting?
i 2 would like to know this answer
Probably not, especially if you are pass 6 months from your Part B effective date (see your red, white and blue Original Medicare card). P.S> - What kind of service work did/do you need? Medicare Supplements are pretty easy. No bill from the hospital. The first $240 of bills for services outside the hospital are on you and after the insurance pays everything else. That shouldn't require a bunch of phone calls to 1-800-Insurance Company.
What about rates of increase year over year?
Maybe you need to review your statement about not mattering what In’s. Company is selected. Not good, in my book.
I have a plan F. Why is it no longer available, to others?? Should I keep it??
Yes. Its a great plan....
No longer offered to
New medicare people.
Do you have a video with your thoughts on the different pricing categories?
I have a book on it.
medicare-3651.aweb.page/p/55935379-8dba-4049-ad15-2d28ef620aa9
Good video
Gracias
Yup I’m calling you. I think high deductible G with the ability to switch to a regular G later
What is the 140 for? I see the 174 but an extra 140???
Advantage puts you completely at the mercy of the insurance companies. You can be denied coverage during underwriting. Then for any given treatment, insurance companies can determine the treatment unnecessary and not approve coverage. This may not happen immediately however when the plan becomes unprofitable or the insurance company decides to raise rates, you will have no option but to pay. No appeal, nothing. Be very careful. The G plan is the only guarantee of rates and procedure coverage.
Can you change from plan N to plan G?
If you are basicly healthy the Medicare Advantage will save you so much money. There's a maximum out of pocket you will have to pay with Medicare Advantage. I have saved $25,000 in premiums over the years. With the maximum I might have to pay with Medicare Advantage in the future I will still be way ahead. Make sure your Medicare Advantage is a PPO and yor doctor's and hospitals are in the plan. If you have major health problems before 65 then yes consider a gap policy.
If you do a lot of traveling and need medical attention, those out of network costs can be huge
The major Medicare Advantage insurers are in all 50 states. If you have a PPO you will be fine if traveling. Even so the maximum out of pocket in my plan is $5500. My wife and I would be paying that much for gap premiums every year. We are way ahead by choosing a PPO advantage plan.
@@AS-tt8ui You're good with an Advantage plan as long as you're healthy. As long as you don't use or need the insurance. BUT--- Don't come down with cancer. Or a heart attack or heart failure. With cancer and chemo, you'll blow through your max-out-of-pocket in a hurry because those drugs are Part B and will pay pay 20% of their cost. Medicare Advantage plan costs for heart failure treatment/hospitalizations/complications can blow through the out-of-pocket max quickly. Medigap plans will lower your out of pocket costs if you start using medical care or get a "big" diagnosis.
Thanks for sharing
Thanks for watching!
How come nobody mentions the price of plan F?
Myself and others were mentioning plan F in 2008. Way back.
To be eligible for plan F you have to have been plodding the treadmill to oblivion for at least 69 years... I plan to join Mr Allen in Oblivion in a few years 8-) Looking forward to it - I heard Sisyphus runs the gym there, and Fred's doing weekly standup.
After January 1, 2020, fewer and fewer people are eligible.
I just spoke to my doctor he's a pain management physician. He told me that he only has regular medicare and they only pay eighty percent. But his premiums are high. Of course, he is working my situation. I am on permanent disability at 65 I was given a Medicare advantage plan. At age sixty five I was transferred to medicare advantage plan. I am sixty eight now and I have been happy with it. Should I Switch next year. Is it changing?
YES! The very long wait to get needed approval on referrals are causing patients to not get the medical care they need timely resulting in care needed treatment getting worse than it should have because of their referral procedures!
Do you have any comments to add regarding this for states that ALLOW excess costs to be billed back to customers? I live in Wisconsin. How much could I get hit with in a G Plan??
I am not 100% sure of your question, but Massachusetts, Minnesota and Wisconsin did not standardize their policies the way everyone else did. In Wisconsin there is only one plan available.
What's covered?
The Part A coinsurance or copayment for:
Inpatient hospital care
Skilled nursing facility care
Hospice care
175 days of inpatient mental health care per lifetime, in addition to what Medicare covers
40 home health care visits, in addition to what Medicare covers
The Part B coinsurance (generally 20% of the Medicare-approved amount) for medical costs
3 pints of blood each year
Benefits that Wisconsin must offer (known as state-mandated benefits)
Note: Plans known as "50% and 25% Cost-sharing Plans" are available. These plans are similar to standardized Plans K (50%) and L (25%). A high-deductible plan is also available.
Insurance companies can add more coverage to the Medigap policy. You may choose any or all of these options to design a Medigap policy that meets your needs:
Part A deductible
Additional home health care (365 visits including those paid by Medicare)
Part B deductible
Part B excess charge
Foreign travel emergency care
50% Part A deductible
Part B copayment or coinsurance
I have blue cross and blue shield do I need to apply for Medicare
That’s a very general question
Why don't you include the $164.90 Part B monthly premium in your MOOP? Does the premium apply to the $226 deductible?
Part A & B is a constant. Either way it's the same comparison. MOOP is for the GAP plans, with no GAP you have no MOOP (unlimited costs).
Your Part B premium will come directly out of your social security benefit before you get your SS benefit payment, so it's not like you can negotiate that price.
Yes I need to know a Bout this also, . am needing to pick a plan today,
Is part D will come out from your social security pension too like part B?
@@romeliatabalba4287 Part D is Prescription Drug Coverage and is a separate coverage provided by private health insurance companies, so no it doesn't come out of SS, you pay it on your own as a monthly premium.
What about Part B monthly premiums?
You have to pay that. The government collects it out of your Social Security check. If you aren't receiving a Social Security check, they will bill you. If you are low income/low assets, there are ways that the Part B premium can be eliminated. If you are a high earner (currently $103,000 if single and $206,000 if married), you actually pay more than the current standard amount of $174.70.
Plan F as long as you can afford it.
Go for it!
Does that mean I can continue contributing to my HSA during Medicare with the HDG Medigap plan?
In NC you can’t contribute to an hsa
No. See page 20 of your 2024 Medicare and You booklet you should have received in October 2023.
I'm a broker too and I agree with you!
Appreciate it.
I don't understand why pay plan G and D on top have to pay part b how can be so expensive that's ridiculous
Is there an HDN or any other HD plans?
High Deductible F and High Deductible G are the only high deductible plans available. There is no High Deductible Plan N.
You mentioned Minnesota. Doesn't Minnesota have their own system?
Yes....they Wisconsin and Minnesota did not standardize their Medicare Supplements like the rest of the country did.
Do most people pick the same company for the supplement and drug plans? Like having Aetna G & Aetna Part D?
Most don’t. Drug plans are complicated and doing this would most likely cost you more money. Double check every year
@@medicare365 Good to know. Thank you.
im 62 been on SSDI for over 20 years my husband retired hes 60 but they had me go on medicare advantage OOP 3700 I never had to pay much at all before this I have drugs but Out of Pocket is more with this plan I guess I dont know if I should change back to original medicare or stay on this plan We just started in Feb 2024 and I have already have the insurance send me two checks that they wanted 50 per visit so I had 100 and they gave me most of it back I dont understand why I just could did original medicare a And B and possibly drugs would be same or higher
Except none of them cover dental, vision, and transportation.
You got it Sharon
amazing video
Thank you friend
@@medicare365 welcome. Can i talk with you?
For sure we will need treatment for starvation with all these costs.
I think I lost my Medicare ABD and Extra Help. Who do I contact.
I will be buying my retirement home next year, I have many options, so how much of a difference does a zip code make? Is living in a big city better than the country or vice versa?
Zip code makes a big difference. What state?
@@medicare365 I currently live in Lakeland, Florida, but planned to move to north Florida around the Live Oak area. But I could keep going into, say, Valdosta, Ga.
Houston, Texas is another option. around Cypress, Tx.
Thank you for helping.
@@medicare365 If a plan G enrollee moves to a different zip code, can their premiums be lower to match that zip code, or will they remain the same as they were paying in a higher rated zip code?
@@-myal-8691 My prior insurance provider was constantly verifying my residency I assume becauae I used healthcare out of state. If you move to a different location that has lower rates you should get that rate.
Exactly what part of the country this benefit?
I believe Medicare Supplements are available in every state in the country. Medicare Advantage Plans are probably available in over 90% of the country. Wisconsin, Minnesota and Massachusetts have their own unique Medicare Supplement plans as they did not standardize their plans the way the rest of the country did on July 31, 1992.
Which company allows you to switch from a HDG to a G without underwriting after 2 years?
I was surprised to hear this too. Wonder if it's true?
In Someone else’s video they said it was united American. I couldn’t be sure about that though but you might want to look into that
Digging deeper …if you are a smoker and live in palm beach fl this GHD is the best plan. Rates are ridiculous here. You’re welcome.
Smoker?
On a gap plan you need to purchase additional coverage for drugs, dental, eye coverage. Kind of a big deal. This guy gets commission for these monthly premiums.
So, he gets a commission. No one works for free. You don't pay it. The insurance company pays him.
He also gets commission on advantage plans, they all do!!! They get more for advantage plans!
What about f HD
Brian, thx for the informative video. I am a Canadian, 72 years old, retired and living in Toronto. I presently have Medicare Part A and will be applying to also get Part B in January 2023. As I am not a US resident, can I buy a supplemental Plan also after my part B is confirmed in January / February ?
If you are Medicare eligible you can buy a Med Sup plan from any company but keep in mind Medicare nor your Medicare supplement plan is NOT going to pay any medical services OUTSIDE the USA.
If you are a Canadian, how can you use medical plans from the US?
Why not.? . Can go to the US for treatment if needed.
I u take a cholesterol, BP, and levothryroxine generics you can get a 3 month supply for $10 ($3.33/mo) of most of these at Walmart without a drug plan. these a
Watch out for 2025!
@@medicare365thku for responding. Great vids!
I have plan F, what do you think?
I think you’re good unless you want to downgrade to a Plan G to save money
@@medicare365 Doesn't plan G mean lower premium but less coverage or more of a gap in the long run? Thank you
From Plan F to G? You will be asked many questions about your health. You will need an underwriter...Anything like AFib...they can refuse you...Asthma.....A few other chronic conditions....You can be refused to be accepted for the G Plan.
It is discriminatory! You have to be completely clear for 2 years before you can be considered for a G.
Disadvantage Plans are for HEALTHY people!
@@kathleenmosteller4424 My wife successfully switched from F to G and is saving $ on the premium. I have more medical issues and was not accepted to plan G due to underwriting. Bummer! My understanding is that premiums on F will increase faster than G in the future as F enrollees decline. Bummer again! 🤷🏻♂️. I’m not sure why Medicare no longer accepts new enrollees into plan F unless F costs them more in the long run. Of course, plan G does have the deductible that F does not have. We looked into Advantage plans for 2023, but decided they are a big gamble for people our age (77, 79) who have more medical issues currently and risk of new ones. Advantage plans have too many unknowns, copays, and coinsurance %.
You good you've been grandfathered in at your age. Doesn't and no longer applies to many any more
These prices are peanuts..........IRMAA took away all of my social security, because I made over $99,000 per year two years in a row.......I also paid over $2 million federal income tax in 3 years, but medical care is cheap
I guess you’re the Top G now
Man, if you could only keep contributing to an HSA with a G-hd, that would be killer!!!
There’s a bill pending in House Ways and Means committee called “Health Savings for Seniors Act” that would allow Medicare beneficiaries to keep contributing to their HSA. I hope it has a chance to pass in the lame duck session with the Secure 2.0 Act.
@@garybala000 Wow! Thank you, Gary, I hadn't heard of that, will look out for it. It only makes sense, as the HSA's were supposedly for 'high deductible medical plans, and, it's in the Plan G-HD name! 🤣.
@@garybala000 Good luck with that! Pretty sure the Republicans will kill it.
I didn't know you could not use your HSA. You can still contribute cent you & just not get a tax break?
@@lisaquigley-moon9583 We can only keep contributing to HSA's while on an approved high-deductible health care plan (which I think most are these days). The money saved in to the HSA is always there for us. It can also be invested somewhat. When used for strictly medical expenses, whatever is spent is also not taxed. If we decide to spend it on something other than medical, it is subject to taxes like an IRA (ordinary income).
So to clarify. When I sign up for Medicare and I want a Medigap G I go find the company and choose who I want. Then I have to go find a company for my drug coverage or is it included in my G plan?
It is best to choose a national, well known company with a high financial rating who has a long history in the Medicare space and then select the one with the best pricing. You will also have to select a drug plan (Part D) because Plan G does not provide drug coverage.
Yes. Call my office, we can walk you through it. 1-844-552-7426
The drug plans offered are worthless….
This is often true.
@@medicare365 I've been on Plan G since I turned 65. I use Good Rx and another discount card, I think is Singlecare. I also get as many samples from Dr office.
@@440tomcat Yup, happened to my mother this year.
I just found your channel, great information! New subscriber here. One thing, I was told Medigap plan N was no longer available for people just entering into Medicare? Is this true?
I heard that too. But I don't remember where.
It’s actually Plan F, not N, that is no longer available for newly eligible Medicare folks. You really don’t want Plan F anyway. It’s considered “first dollar coverage”, meaning everything is covered but it’s just too expensive and thus considered not a great value vs. Plan G. Myself I like Plan N.
Hey welcome to the channel… Plan N is available to people entering into Medicare.
It's Medicare Plan F that is no longer available
Why did I think N was the best way to go?
It is a great option.
Still talking $10, 000 + a year for a couple in premiums alone. Especially as you age.. Not cheap in America...
Pensacola, your so right. More alarming to me than the cost for Healthcare in the US is the inconsistency and inequality of the care and services provided. And it only seems to be getting worse with the shortage of Healthcare providers. Just comparing the annual per capita cost of Healthcare in the US to the average lifespan is concerning. We have the highest costs and aren't in the top ten countries as far as longevity.
Actually, the highest premiums for a couple would be about $6,500 for the high deductible 'G' plan. But only $4,000 per couple if you picked the regular G plan.
Medicare plans pay for ride to Doctor appointments but won't pay for the appointment.
?????????????
Yeah…because you SELL these plans so YOU benefit.
Yeah right. Nice try…. You obviously haven’t spoken to any of our clients.
Sir, I don't like crooks either but this man is trying to make a fair living providing the best knowledge he can to all of us so we have information to make our own decisions. I don't see bias in his information, I think he is giving some opinions he honestly believes and I think he is giving a fair assessment. There's some valuable things he is teaching here. Everybody has a right to make their own decisions and also get other opinions and he has a right to be paid for his work and efforts if he provides a service to someone. He even directed people to Medicare.gov for assistance he didn't have to do.
MUST YOU START SENTENCES WITH "SO"!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
It's such a great word....SO
So…what?😂🤣
Obviously, you are selling supplemental insurance and totally misleading people. This is not research, people; this is a sales pitch. DO YOUR RESEARCH.
Hmm. Not sure about that. But yes, everyone should do their research, including you. 😳
Your so bias ag medicare advantage. Your supplement plans are all separate. Avg $250 a month compared to medicare advantage
@ronrae Sounds like you are a lobbyist for Advantage Plans where you pay no monthly premium right? Well God forbid you get really sick, and have to go to doctors, and hospitals then tell me how great your Advantage Plan is after you pay for ALL those daily hospital charges, and OOP tests they'll run on you. And, If you need an ambulance you'll have to pay for it too. Though It's your choice, and that's what makes America so great! Insurance companies are the ones getting rich from these Advantage Plans, and why they lobby Congress so much for them. BTW; the insurance companies pay out higher commissions to the sales people who sell AP's vs what Supplemental plan sales people get.
@@jamesb6216 My maximum out of pocket in my Advantage plan is 5500. My wife and I would pay that much in premiums each year with a gap policy. Insurance companies make more money on Advantage plans because healthy people pick them because they save so much money.
Let me find my dice Im great now but..........
Brian, what to do,,what to do,, I’m on SSDI low income I’m at advantage plan but I’m 65 and will like to switch to original Medicare, some people advise me to call ship or SSA.gov for extra help I don’t know exactly how that is, I do have A and B any advice I appreciated thanks 🙏
Call my office. We can help. 1-844-552-7426
I hope you called Brian. I'm in your same situation. Under 65. Could only have Advantage plans for the past years. Hate them. Hate going through selecting one every yr because they keep changing benefits and copay costs every yr. Keep changing drug formularies every year. -- If you're on SSDI, do you get any "Extra Help" from Medicare for your drug costs? Do you qualify for extra help with Part B premiums? ( one of the Medicare Savings Programs). Talk to some one with your state's SHIP program. They might help you apply with your state's Medicaid department to see if you qualify for any of that extra help.
No matter if you get any extra help, call Brian. He can help you find Medicare Supplement if you want to get away from the Advantage plans. ---- I called and talked to him. Had him do 'signing me up" for a supplement. Also had him sign me up for a drug plan I found.( I could do the drug plan shopping based on my meds and the plans available in my zip code) I think he got it all set up correctly, because I saw that my coverage dates on my Advantage plan's website changed to "Jan 1st to March 31st". That's when my Advantage plan needs to end and my drug plan needs to start.
He's a good guy. He'll give you some of the good and bad about some of the companies so you can decide what company and plan you want. (I already had my "choices" narrowed down based on cost in my state. I needed his experience and knowledge of rate increases, customer service if you have a problem, etc. He helped narrow my choices down. Told me about companies to avoid. I called him back when I picked one out of two. He did the "paper" work. (web based work).
I want to wish you a BEAUTIFUL day today in Thanksgiving today it is a special day to gather around and eat a special dinner with God and have a beautiful prayer I also want to tell you that many people like your CHANELL even THOW many people are not around. But people like you people never forget it's me the beautiful GIRL FROM CALEXICO CA KINGS OF the valley Egypt stopping BYE and wishing you and your family in this special day and GOD bless you brain always and thank you FOR always spending your time to help us out in paying for less and get the best Medicare and Christmas it's just around the corner 🎅🎄💝🎅💝🎄🎅💝🎄🎅💝🎄🎅💝🎄🎅💝🎄🎅💝🎄🎅💝🎄🎅💝🎄🎅💝🎄🎅💝🎄
Thanks Lizette!!
I’m on Social Security and Medicare. The thing that happens is yes we got a three point whatever percent increase last year but my Medicare part B payment also went up by $60 a month more than my cola so I actually took a $60 a month cut. I literally made best decisions when i started working with an advisor..
I hear you; it's tough when COLA increases barely keep up with rising costs, and with Medicare premiums possibly going up again, it could feel even tighter this year. Having an advisor on your side is a great call-they can help you navigate these changes and make the most of what you’re getting. Here’s hoping for some better adjustments soon!!
Totally agree. A good financial adviser is a game-changer. My portfolio is balanced for all market conditions, and it has returned 120% since early last year. My adviser and I are now working toward hitting a seven-figure goal, which could take another year._
That sounds interesting! Could you share the details of your adviser? I'm urgently in need of one.
My CFA Julianne Iwersen Niemann, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
I just looked her up, and her credentials are impressive! I've already reached out and scheduled a call for some guidance. Thank you!