If you would like to see my recommendations for your area, reach out and request a quote: medigapseminars.org/request-a-quote/ Hidden Risks in Medicare supplement Part 1 th-cam.com/video/N6_4uJ6ViV4/w-d-xo.html and Part 2: th-cam.com/video/77qVm7ibo7g/w-d-xo.html
I couldn't exist without my Plan G. Having a serious health issue, it covers everything. I never worry about needing tests, labs, doctor visits, or hospital care. If you're in need of regular care, it's the only way to go. And let's face it, as seniors we're all going to need ongoing care at some point. Plan G literally saved my life and keeps me going.
I have plan G. I was diagnosed with cancer while living in a small community. I had some of my care locally for convenience. Then I opted to drive 2 hours for a special targeted radiation. In every case my insurance paid it all. I paid my annual deductible, and everything thing else was covered by plan G. I have real security knowing I have excellent coverage, and can go whenever I think care is most appropriate.
@@rebeccam6128 thank you for sharing this with us. The peace of mind knowing everything is paid for and that when you need it, you can drive two hours or two days away to find the healthcare you need, priceless.
I did my research and Plan G is the way to go. My husband and I saved for our retirement so we could afford to pay a bit more but have better coverage and more control.
Two hips in my wife. Same thing. We paid the Part B deductible ($260.00) which covered the first office visit with the surgeon. Then we were done. Went in for one, and three months later, went in for the other one!
Does your organization offer Webinars? Your specialty is Medicare (thank you), but do you also offer information regarding Social Security? Your videos are precise and to the point which is appreciated. Your sincere humor makes the information feel real instead of like a canned response, so thank you for that!
Don't be afraid to go through underwriting. It doesn't cost anything and there is no penalty if rejected. I just saved about $1000/yr by changing my Plan G provider.
Isn't plan N basically same as plan G except plan N you just need to pay a co pay $20 for doctors vist and $50 for hospital and monthly payment is a little cheaper. I've been on N for 3 years and never had any issues with quality of care.
I will have a detailed video on Plan N out in a few days. In the meantime, all you really missed is that Plan N has no coverage for Part B Excess charges. I encourage you to watch this video "Medicare Excess Charges R Dead" th-cam.com/video/eh_RFjGpVo4/w-d-xo.html so you can avoid ever being charged an excess charge. By the way, your quality of care does not change from one supplement to another. The only thing that changes your out of pocket responsibility.
@christinedaley5580 My sister has been on Plan N for 10 years and just got hit with an excess charge. I think she said she had to pay $65 more than the Medicare amount. She just assumed that since one doctor on the team took Medicare assignment that this Doc did as well. I spoke to my Doc about excess charges and he basically said that doctor practices are being bought up by hospital systems and there is no CPT code to charge more ... CPT codes are CPT codes and bot to worry about excess charges.
The problem with supplement plans is that increases are, as you mentioned, unpredictable. Locally, the few entities offering Plan G are community rated plans that have premiums around $400 per month (not age dependent), and then, it is another $50 or so monthly for Part D drug coverage. Strangely, Plan N costs slightly more than Plan G. No wonder so many people choose Advantage plans costing between zero and $200 per month and offer additional benefits.
@@jstephens2758 you’re comparing a car to a bicycle. Medicare advantage plans are not nearly the same level of benefits as a Medicare supplement. I explain that in detail here. th-cam.com/video/_4xXIJZes9o/w-d-xo.html. And while Medicare supplement plans increase their premium overtime, Medicare advantage plans adjusted for higher cost by reducing benefits. Projections are that the maximum annual out-of-pocket for a Medicare advantage plan 13 to 15 years from now will be over $20,000
@@MedigapSeminars I understand that, but to the average consumer, paying less per month seems less expensive. And as you stated, the premiums for supplement plans continue to increase. Our local plans are community rated and change for everyone. Others are adjusted for age, so what seems reasonable at age 65 might adjust to something very unreasonable on an even shorter time frame than 13 to 15 years. The main problem is unpredictability. Someone retiring at 65 in good health cannot know what will happen in the future.
@@jstephens2758 you are right. None of us know what our future brings. Which is why I tell people to get today the insurance they will want to have when they are sick or injured. It’s not that complicated. From a basic troubleshooting point of view, you can always go to an advantage plan from the supplement. if a supplement is too expensive overtime, you can always go to advantage plan But you can’t go from advantage to supplement without medical underwriting in both states. PS community rated plans. If you stay as a community rated state, that means you have other laws that may be to your benefit. That would make us supplement even more attractive. 800-847-9680
Can someone tell me why a disable senior in a wheelchair ♿ 😫 is crawling on belly 😫 because Georgia Humana SNP INSURANCE refused to repair or replace wheelchair until August 2025😢 not to mention cutting off 75.00 spending card 😢
I am not of age yet but when I go into Medicare I consider plan N as my first option and HDG my second. Plan G is simply not a good value considering it's the guaranteed issue plan. Higher premiums right off the bat and higher rate increases throughout the years. A plan G may end up costing you around $500 by the time you're 85.
@@ChrisSadowski-pp1np I have spoken with upper management of most major insurance companies. The guarantee issue is not of any impact on Plan G. Only 3 to 3 1/2% of policies are guarantee issue policies. That is not what’s driving plan G prices
@@ChrisSadowski-pp1np I’m sure the number one driver of increasing premiums for sure. Plan N all the way for many. The words over utilizers of many on plan G is being kind. 😡😡😡
I was shocked to see my Plan F go to $5k Ann. I called United & was told they will call back & do an application for plan G. If it's going to be the same after copay I might have to go to Humana. will be 85 (F)2/25. Aside from knee pain I don't go to the Dr. HIP replacement @ this age is not an option for me. I tried calling your # no avail.😢
@@MedigapSeminars Change again the next year. On average, a person would have to wait 6 months. I just saved $1000/yr by going through underwriting to change my Plan F provider and will save more by changing from Plan F to Plan G using the birthday rule in a couple of months.
Health Care Service Corporation (HCSC) has entered into a definitive agreement to purchase Cigna's Medicare Advantage, Medicare Supplemental Benefits, Medicare Part D, and CareAllies businesses for $3.3 billion.Feb 5, 2024
I have been on plan GHD and my costs each year are lower than the aggregated Plan G or N premiums I would otherwise pay. I still have 100% coverage if I have total expenses greater than $2,800.
I like G-HD and believe it can be a good choice for people who have at least twice the deductible saved for a rainy day. , G-HD is best in states that mandate a plan be priced as Issue Age or Community Rated. In those states, the premiums are more stable. The biggest weakness of G-HD is that the annual deductible increases every year at the same rate as the CPI-U. That makes the plan vulnerable to inflation. Have you mapped out what the deductible will be in 15-years at 4% inflation?
@@ManuelGarcia-rl6fb No, not based on inflation. Premium increases are based on claims experience in your area. Yes, the premium increases, but not all insurance companies have the same rate or rate increases. The G-HD deductible increase with inflation is a feature that cannot be changed.
That is what supplement plans do. They pay the gap between what you owe and what Medicare pays. Print these out - it might help you visualize: medigapseminars.org/wp-content/uploads/2023/10/2024-Part-APart-B-IRMAA.pdf and medigapseminars.org/wp-content/uploads/2024/05/2024-Medigap-Benefits-table.pdf
Ok, Matthew, I’m confused. Just signing up for Medicare now. In the video you said Part B premiums are $240 currently (expected $257/2025) Then you ended by saying “Part B premiums are still safely under $300 PER YEAR”. Did you mean to say PER MONTH? I’m clueless because I’ve never paid premiums but I assumed they were paid monthly. Thx for your reply in advance. Love your videos!
The Part B annual deductible is what Matthew is referring to. It is the amount of money you pay each year toward your medical bills BEFORE Medicare pays out any benefits. It increases each year. In 2024, it was $240 but what it will be for 2025 has not been announced.
@@djdeje5536 ooops. Sorry I didn’t catch that. But I am glad you did. Yes premiums are monthly and that is the base premium. If you’re income is higher than average, you may have an additional. IRMAA surcharge. You can look up my video on.IRMAA. At. Medigapseminars.org/IRMAA
Plan N is almost the same as Plan G so it gives you the same peace of mind. Other than a few copays and possible excess charges, which can be found out before hand, there is no difference in coverage. Plan N does cost less in premiums which covers the copays that you may have to pay. I do understand the logic of why someone would want Plan G as I originally thought we would go on it but the premium cost difference now and in the future made Plan N more attractive.
@@vinnyg2619You're right, it's plain silliness to buy plan G. N is an excellent choice and a great value. Excess charges are illegal in eight states and practically non-existent everywhere else. When it comes to the co-pays Yes, there's $50 if you're not admitted, but how many times are you going to be admitted to the hospital? Also, when it comes to doctor visits you would need to see a doctor more than twice a month for it to be an issue.
If you would like to see my recommendations for your area, reach out and request a quote: medigapseminars.org/request-a-quote/ Hidden Risks in Medicare supplement Part 1 th-cam.com/video/N6_4uJ6ViV4/w-d-xo.html and Part 2: th-cam.com/video/77qVm7ibo7g/w-d-xo.html
I couldn't exist without my Plan G. Having a serious health issue, it covers everything. I never worry about needing tests, labs, doctor visits, or hospital care. If you're in need of regular care, it's the only way to go. And let's face it, as seniors we're all going to need ongoing care at some point. Plan G literally saved my life and keeps me going.
So true. Glad you made the right decision when you did.
Totally agree, both my husband and I love our Plan G.
Good to know, thanks
I have plan G. I was diagnosed with cancer while living in a small community. I had some of my care locally for convenience.
Then I opted to drive 2 hours for a special targeted radiation.
In every case my insurance paid it all. I paid my annual deductible, and everything thing else was covered by plan G. I have real security knowing I have excellent coverage, and can go whenever I think care is most appropriate.
@@rebeccam6128 thank you for sharing this with us. The peace of mind knowing everything is paid for and that when you need it, you can drive two hours or two days away to find the healthcare you need, priceless.
I did my research and Plan G is the way to go. My husband and I saved for our retirement so we could afford to pay a bit more but have better coverage and more control.
great!
Matthew explains in a way that every body understands. Thank you Matthew!
you are welcome!
great video thank you very much for the information
Wife just had her left knee replaced,Plan G paid $53000.+ we paid 0....Thanks Matthew for guiding us!!
You are welcome. I hope it all went well.
@@KevinJohnson-gq9wr
Plan N would have paid the same.
Two hips in my wife. Same thing. We paid the Part B deductible ($260.00) which covered the first office visit with the surgeon. Then we were done. Went in for one, and three months later, went in for the other one!
@@alansach8437 awesome!
Does your organization offer Webinars? Your specialty is Medicare (thank you), but do you also offer information regarding Social Security? Your videos are precise and to the point which is appreciated. Your sincere humor makes the information feel real instead of like a canned response, so thank you for that!
I like/need Plan G. It gives me a peace of mind.
I purchased a Plan G for the same reason.
Out the Park, again!!!! Very Nice and thank you.
You are welcome
Don't be afraid to go through underwriting. It doesn't cost anything and there is no penalty if rejected. I just saved about $1000/yr by changing my Plan G provider.
Thanks, I'm waiting for the plan N video.
Coming soon!
Another great informative video!
Glad you liked it!
Isn't plan N basically same as plan G except plan N you just need to pay a co pay $20 for doctors vist and $50 for hospital and monthly payment is a little cheaper. I've been on N for 3 years and never had any issues with quality of care.
I will have a detailed video on Plan N out in a few days. In the meantime, all you really missed is that Plan N has no coverage for Part B Excess charges. I encourage you to watch this video "Medicare Excess Charges R Dead" th-cam.com/video/eh_RFjGpVo4/w-d-xo.html so you can avoid ever being charged an excess charge. By the way, your quality of care does not change from one supplement to another. The only thing that changes your out of pocket responsibility.
@MedigapSeminars thankyou ..I will watch when it comes out
@@MedigapSeminars
Excess charges basically unheard of.
In certain states, you can't be charged the excess charges. I live in CT @TC-tw5zk
@christinedaley5580 My sister has been on Plan N for 10 years and just got hit with an excess charge. I think she said she had to pay $65 more than the Medicare amount. She just assumed that since one doctor on the team took Medicare assignment that this Doc did as well.
I spoke to my Doc about excess charges and he basically said that doctor practices are being bought up by hospital systems and there is no CPT code to charge more ... CPT codes are CPT codes and bot to worry about excess charges.
Im still working after 65 so Ill probably just wait to sign up for part G
The problem with supplement plans is that increases are, as you mentioned, unpredictable. Locally, the few entities offering Plan G are community rated plans that have premiums around $400 per month (not age dependent), and then, it is another $50 or so monthly for Part D drug coverage. Strangely, Plan N costs slightly more than Plan G. No wonder so many people choose Advantage plans costing between zero and $200 per month and offer additional benefits.
@@jstephens2758 you’re comparing a car to a bicycle. Medicare advantage plans are not nearly the same level of benefits as a Medicare supplement. I explain that in detail here. th-cam.com/video/_4xXIJZes9o/w-d-xo.html. And while Medicare supplement plans increase their premium overtime, Medicare advantage plans adjusted for higher cost by reducing benefits. Projections are that the maximum annual out-of-pocket for a Medicare advantage plan 13 to 15 years from now will be over $20,000
@@MedigapSeminars I understand that, but to the average consumer, paying less per month seems less expensive. And as you stated, the premiums for supplement plans continue to increase. Our local plans are community rated and change for everyone. Others are adjusted for age, so what seems reasonable at age 65 might adjust to something very unreasonable on an even shorter time frame than 13 to 15 years. The main problem is unpredictability. Someone retiring at 65 in good health cannot know what will happen in the future.
@@jstephens2758 you are right. None of us know what our future brings. Which is why I tell people to get today the insurance they will want to have when they are sick or injured. It’s not that complicated. From a basic troubleshooting point of view, you can always go to an advantage plan from the supplement. if a supplement is too expensive overtime, you can always go to advantage plan But you can’t go from advantage to supplement without medical underwriting in both states. PS community rated plans. If you stay as a community rated state, that means you have other laws that may be to your benefit. That would make us supplement even more attractive. 800-847-9680
You did not mention high deductable G plans.
Can someone tell me why a disable senior in a wheelchair ♿ 😫 is crawling on belly 😫 because Georgia Humana SNP INSURANCE refused to repair or replace wheelchair until August 2025😢 not to mention cutting off 75.00 spending card 😢
Thanks for your videos, Matthew. How do I find out if I'm on a plan G or a plan N? I don't remember which one I have.
Your medicare supplement card will have the plan listed on it.
I am not of age yet but when I go into Medicare I consider plan N as my first option and HDG my second. Plan G is simply not a good value considering it's the guaranteed issue plan. Higher premiums right off the bat and higher rate increases throughout the years. A plan G may end up costing you around $500 by the time you're 85.
@@ChrisSadowski-pp1np I have spoken with upper management of most major insurance companies. The guarantee issue is not of any impact on Plan G. Only 3 to 3 1/2% of policies are guarantee issue policies. That is not what’s driving plan G prices
@MedigapSeminars higher utilizers of healthcare flock to that plan. I don't consider it a good value.
@@ChrisSadowski-pp1np
I’m sure the number one driver of increasing premiums for sure. Plan N all the way for many. The words over utilizers of many on plan G is being kind. 😡😡😡
will HCSC buying Cigna affect my plan G?
No - you will still have your Plan G and the benefits will not change.
Sounds like I’ll need G when I go on Medicare next year. I have low grade prostrate cancer which requires yearly MRIs
I would agree.
I was shocked to see my Plan F go to $5k Ann.
I called United & was told they will call back & do an application for plan G. If it's going to be the same after copay I might have to go to Humana. will be 85 (F)2/25. Aside from knee pain I don't go to the Dr. HIP replacement @ this age is not an option for me. I tried calling your # no avail.😢
does Flac insurance medigap plans fall into your 5 year rule as being around that long?
@@kkovler1 call us at 800-847-9689. Our business helps people find the right plan and insurance company for their Medicare.
If you are in a state with a birthday rule, wouldn't you just buy the cheapest plan g available?
then what happens the month after the b-day rule and the price increases by 20%?
@@MedigapSeminars Change again the next year. On average, a person would have to wait 6 months. I just saved $1000/yr by going through underwriting to change my Plan F provider and will save more by changing from Plan F to Plan G using the birthday rule in a couple of months.
Health Care Service Corporation (HCSC) has entered into a definitive agreement to purchase Cigna's Medicare Advantage, Medicare Supplemental Benefits, Medicare Part D, and CareAllies businesses for $3.3 billion.Feb 5, 2024
Yep, and we emailed all our CIGNA clients about this in very early 2024.
I have been on plan GHD and my costs each year are lower than the aggregated Plan G or N premiums I would otherwise pay. I still have 100% coverage if I have total expenses greater than $2,800.
I like G-HD and believe it can be a good choice for people who have at least twice the deductible saved for a rainy day. , G-HD is best in states that mandate a plan be priced as Issue Age or Community Rated. In those states, the premiums are more stable. The biggest weakness of G-HD is that the annual deductible increases every year at the same rate as the CPI-U. That makes the plan vulnerable to inflation. Have you mapped out what the deductible will be in 15-years at 4% inflation?
But plan G premiums also increase every year based on inflation
@@ManuelGarcia-rl6fb No, not based on inflation. Premium increases are based on claims experience in your area. Yes, the premium increases, but not all insurance companies have the same rate or rate increases. The G-HD deductible increase with inflation is a feature that cannot be changed.
Deductible will be $5000 after 15 years at 4% inflation. It’s still a better deal than most of the advantage plans
@@zhangten true
Multiple times in this video your phone number is missing a digit. Love your videos carry on !!
@@josephkardos-l1t wow. I totally missed that. 800-847-9680
Why does my plan g only pay if Medicare pays? If Medicare doesn't approve, plan g won't pay anything.
That is what supplement plans do. They pay the gap between what you owe and what Medicare pays. Print these out - it might help you visualize: medigapseminars.org/wp-content/uploads/2023/10/2024-Part-APart-B-IRMAA.pdf and medigapseminars.org/wp-content/uploads/2024/05/2024-Medigap-Benefits-table.pdf
If it's not a Medicare approved charge, Medicare is not going to cover the 80% and your supplement's not going to cover the other 20%.
Ok, Matthew, I’m confused. Just signing up for Medicare now. In the video you said Part B premiums are $240 currently (expected $257/2025) Then you ended by saying “Part B premiums are still safely under $300 PER YEAR”. Did you mean to say PER MONTH? I’m clueless because I’ve never paid premiums but I assumed they were paid monthly. Thx for your reply in advance. Love your videos!
It is deductible for a year not premium.
Monthly part B Premium is 174.70 for 2024 but going g to be 185 in 2025.
The Part B annual deductible is what Matthew is referring to. It is the amount of money you pay each year toward your medical bills BEFORE Medicare pays out any benefits. It increases each year. In 2024, it was $240 but what it will be for 2025 has not been announced.
@ thanks! Then you don’t pay a monthly premium for Medicare Part B. Just a monthly premium for Supplemental?
@@djdeje5536 Yes, that is correct.
@@djdeje5536 ooops. Sorry I didn’t catch that. But I am glad you did. Yes premiums are monthly and that is the base premium. If you’re income is higher than average, you may have an additional. IRMAA surcharge. You can look up my video on.IRMAA. At. Medigapseminars.org/IRMAA
Plan N can't hold a candle to plan G for "peace" of mind and freedom of worry. It holds 2 important benefits that plan N doesn't cover.
Plan N is almost the same as Plan G so it gives you the same peace of mind. Other than a few copays and possible excess charges, which can be found out before hand, there is no difference in coverage. Plan N does cost less in premiums which covers the copays that you may have to pay. I do understand the logic of why someone would want Plan G as I originally thought we would go on it but the premium cost difference now and in the future made Plan N more attractive.
No so @vinnyg2619
@@vinnyg2619You're right, it's plain silliness to buy plan G. N is an excellent choice and a great value. Excess charges are illegal in eight states and practically non-existent everywhere else. When it comes to the co-pays Yes, there's $50 if you're not admitted, but how many times are you going to be admitted to the hospital? Also, when it comes to doctor visits you would need to see a doctor more than twice a month for it to be an issue.
Plan G is not a good value
Plan G is the best now, and in the future