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Another excellent primer from you. As a former insurance executive I have recommended your channel to many people. It is shocking how uninformed people are about this important topic. You are doing a lot of good educating them - IF they listen.
Marvin is extremely biased towards the G plan. He never talks about the plan G high deductible, even though in states like FL, NY, WA, it makes the most sense.
Why is it shocking how uninformed people are? No one says it’s a confusing mess, there are no newspaper articles saying, beware when you need to sign up for Medicare! Where is it taught, if people don’t seek out information when they realize they don’t know? How or why would someone know in advance what all there is to research? This patchwork quilt of confusion is a massive failure of the government agency in charge. Remember the saying, a camel is a horse designed by committee.
Definitely not true at all! I think his presentation is kind of misleading. The maximum out of pocket for medical treatments for united health HMO is $800! The total cost is way cheaper than that of supplement G!
I work at a hospital and get questions EVERY day about MA vs Supp plans. I tell them to track their expenses on the MA and if they spent less than a supp monthly premium or more than what a monthly premium would cost they should base their decision on that. I also mentioned that insurance agents are given bonuses from the private insurance companies when they enroll clients into ma plans and that bonuses are less for agents when they sell traditional and supp insurance.
The payments to insurance agents are called commissions. It is true the commissions for Medicare Advantage are nearly two times the commissions for Medicare Supplement plans. Excellent advice, thank you for sharing! I also point out that if an agent is only recommending Medicare Advantage, and not revealing the pros and cons of both programs, you have a commission driven agent, not an ethical agent who is looking out for you.
I did a cost comparison between Medigap ( I picked AARP) with the part D and my mom's Humana Advantage plan and she would pay more out of pocket for the Medigap with Plan D even on a Max Out of pocket year. She has never had a problem getting coverage. She has had both hips replaced, had eye surgery and ear surgery. She has been hospitalized several times for Covid and then Pneumonia and also had Hospice and skilled nursing (several times)and she has never had an issue with coverage. She is end Stage COPD and has expensive meds and has been on oxygen for years. I think a lot of it depends on where you live on which is best for you. We don't have the letters for Medigap. But, the Extended basic plus is comparable to Plan G and in my zip code the cvost for just that is 237-$756 a month. That doesn't include the Part D. The cheapest part D that took all of my mom's drugs for AARP is another 105 a month..
I’m glad it’s working out for your Mom however I suspect it’s not as much where you live as the actual individuals involved in the decisions for any given insured. Just yesterday I talked to a speech therapist who had a client that needed a swallow test. Humana denied it,then denied the appeal and ended paying for his stay in rehabilitation. She said there was absolutely no way he was ready to live on his own and without the swallow test he shouldn’t be eating either. This was in the Twin Cities MN metro. I bring this up because it looks like you’re from MN. I definitely understand the high costs of the medigap policies in MN. Most of the people I know on Medicare have and advantage plan because they can’t afford the medigap and part D premiums.
I am in the Twin Cities also and just found also this weekend that we don’t have typical “G” and lettered plans. My research led me to the same costs as you which worries me how I will afford it. Having multiple medical issues, I don’t want to risk being on an Advantage plan for all the reasons stated. I have watched hours and hours of these helpful videos only to find out now that the Minnesota system is the only state that doesn’t have the typical Medicare programs.
@@gemsngiftsusa2281Minnesota, Wisconsin, and Massachusetts have waivers allowing them to have non-standard medigap plans. This does not mean, however, that the actual coverage is different. The standard plans such as G and N are like ordering a combo meal at a restaurant-the items in the combo are pre-determined. In MN and the two other waiver states your medigap plan is like ordering a la carte. You get to choose which gaps are covered by the medigap plan. So if you like a Plan G you can set up your a la carte plan so that it covers everything a Plan G would cover. Same with Plan N. One nice thing is if you like Plan N but are worried about excess charges, you can get a copay plan, and the lower premium that goes with that, but you can get the excess charges gap filled.
my mother is on a medigap plan with supplemental Part D and her premiums are about $4500/year, almost the same as mas out of pocket for an advantage plan
I think his presentation is kind of misleading. The maximum out of pocket for medical treatments for united health HMO is $800! The total cost is way cheaper than that of supplement G!
@@tomyang5991 Not true, Tomyang. If you read your summary of benefits you will find many services on Medicare Advantage, such as chemo, radiation therapy, dialysis, infusions, durable medical equipment, etc have a 20% coinsurance until you reach your out-of-pocket maximum limit, which often is $4,000 to $6000 for an HMO plan, and $6,000 to $8,000 for a PPO plan. Virgiljohnson, it sounds like your mother is on a Plan F. If she is still in good health, you could look at moving her to a Plan G or Plan N. Plan F premiums are exponentially increasing because the government took America's favorite supplement plan away from people who are new to Medicare back in 2021. Now the Plan F pool of insureds is aging and shrinking, causing rapid inflation of those premiums.
Very good information, however this medigap cost are out of reach for the majority of people in the state of Florida is very expensive. If would have to work until I die to afford this. You need to explain that
I love your videos. I am in Florida and we are getting quotes upward of 199 per month for the G plan. It is so overwhelming to me to make this decision.
Find a reputable BROKER, who looks out for your best interest and is not pushing you towards an Advantage plan because the broker commission is much higher than those for Medigap Supplemental plans. A plan G gives real peace of mind, especially if you have serious medical issues.
@@karlineschrubberstiel we are not considering an advantage plan. Being able to pick our own doctor is super important to us. Also if I get cancer or hubby does again we need to be able to go to the best hospitals
Where I live in Florida, we decided to go with plan N because the premium difference between N & G for us were at least $65 per month. So even if we went to a doctor three times per month, we are still ahead with N. In addition, the premium increases should be less with plan N. I am not too worried about excess charges, because they are not very common down here. While we could have saved money (most years) with an advantage plan, we never considered it. Like you, we didn't want to be constrained to doctors in the network. Also we are snowbirds, so the ability to get non emergency care outside of Florida is important.
The perks ARE ticked as a plus in the Advantage column. As to annual part B premiums - they can also go down. The 2023 premium is lower than the 2022 premium.
@@karlineschrubberstiel The 2024 part B are definitely going up according to an earlier post from Medicare School perhaps as much as 5% plus around $5.00 because of the coverage of the new alzehimer drug.
how often does an advantage plan refuse a pre authorisation from a reputable doctor? i asked my doc and he said in his case it never happened. is there a list of which advantage plans are better or worse in this regard?
@@MicheleZaborowske I have a book of roughly 150 to 200 Medicare Advantage enrollees. I receive complaints about the Advantage plans controlling their health care decisions on average of once a month. It is not subject to any one carrier and most certainly is not exaggerated beyond proportion. There were some cases that I found to be absolutely disgusting, that would have 100% been covered by the Medicare Supplement program. The authorization problem has seemingly significantly increased in frequency since the pandemic. Feel free to ask your doctors for a second opinion. They deal with insurance companies every day.
Always covered nationwide for emergency and urgent care needs. For non-urgent/emergency medical care when travelling, it depends on the plan. Some Advantage plans cover it, while others don't. Better chance of getting out-of-region coverage with a PPO plan, than with an HMO.
I feel like I was lied to by the person who never told me about medigap. Now that I've had my advantage plan for 1.5yrs the chances of being able to get it are 0% because of my health issues. I never knew the medigap option was available and I don't live in one of the 4 states that doesn't require approval.
If you have any other questions, or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc
My team would be happy to assist you with setting up your Medicare coverage. Give us a call at 800-864-8890 or schedule an appointment at www.medicareschool.com
@@JusticeAlways I already paid a lot of Taxes for the ones getting it for free (Medicaid/Welfare), and all who enter the country illegally and Parasites qualify, voters for Big Government.
Will the cost of the G or N plan that we choose be deducted from our SS along with our regular A & B plan? Or will it be a separate payment we have to keep up with on our own?
Are there any situations where having a Hospital Indemnity Plan along with a Medicare Plan G and D plan makes sense? Always thought that the indemnity plans are appropriate for the Medicare advantage plans.
I would never get an advantage plan. If you ever really get sick then you are screwed. I'll pay a little more in premiums for the piece of mind knowing all I have to pay is a deductible once a year of $224 and everything else is paid for. But risk takers go for advantage plans if you want it's your life.
It all depends on where you live. Marvin has posted national averages in other videos, but in some areas the premiums can be significantly different than the national average.
If you have any other questions, or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc
My dad and uncle are on advantage they say they don’t pay anything or very little. My dad has Atenea HMO. Not even close to 10k? I need to get plan for my hubby. He has N now.
My team would be happy to assist you with setting up your Medicare coverage. Give us a call at 800-864-8890 or schedule an appointment at www.medicareschool.com
In most states you have to medically qualify to change your Supplement plan if you're outside of your initial open enrollment opportunity. If you need help getting your Medicare coverage set up correctly, feel free to give us a call at 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc
My team would be happy to assist you with setting up your Medicare coverage. Give us a call at 800-864-8890 or schedule an appointment at www.medicareschool.com
Can you offer content about how to find a Medicare broker? In other words, if we want to work with your company, how do we proceed? As I approach 65 I would like to have a plan. Thanks in advance.
I have the F plan. Did I hear right that we get to keep that plan but they are just not going to do new ones if someone is just getting a new supplement plan?
Yes, if you have it, you can keep it. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-89xdCamqOOM.htmlsi=Q8q_rgCnNVcC2347 If you have any questions please, feel free to give us a call at 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc
Many Medicare Advantage Plans are in a country-wide network; and you can use any service in that network, not just your local service area. So the MA plan goes with you.
Medicare Advantage plan networks are still restricitve as to which doctors will and will not accept the coverage. Medigap plans are accepted anywhere Medicare is accepted, throughout the country. Huge difference. My team would be happy to assist you with setting up your Medicare coverage. Give us a call at 800-864-8890 or schedule an appointment at www.medicareschool.com
Switching plans isn't an unqualified plus for Medigap "because you never have to switch" Well, people want to switch because the premiums with that carrier are now too high, or they need to switch to a cheaper letter (e.g. G to N) because they can't afford the premium, or they may want to switch up for better coverage. This is going to need underwriting in many states. With Advantage, you have an enrollment period each year, so if not a tie, I would have put the + for Advantage in this row!
Probably the biggest downside to Supplements would not only be the premiums, but the annual premium increases, in addition to Part B premium increases. What's worse is if the Supplement carrier closes the risk pool on the plan you are enrolled in, effectively trapping you in that particular high-cost plan, unless you can pass underwriting to get a lower-cost Supplement.
I don’t think I’ve seen anything in the videos about risk pools closing and having to go,through medical underwriting to switch. I definitely will ask my agent to explain that to me.
silver6054 If you get to a point where you can't afford the premium, you can always switch to an Advantage plan. So that is no different than if you were on an Advantage plan and wanted to switch to a different Advantage plan. The downside is once you switch, you can't go back to a supplement without underwriting.
@MedicareSchool If you have any questions please, feel free to give us a call at 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc
It can vary in different areas. We're hapoy to review your top choices. If you need help getting your Medicare coverage set up correctly, feel free to give us a call at 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc
Advantage sucks but if medigap is no good if you cant afford it. Am I right that the good thing about advantage is that there is no underwriting and it doesnt matter how old you are, everyone pays the same?
Medicare Advantage and Prescription plans can be reshopped during the Annual Enrollment Period. Medigap plans are eligible to be enrolled throughout the year. If you have questions or need help setting up your Medicare coverage correctly, give us a call at 800-864-8890 or schedule an appointment at www.medicareschool.com
Why don't you inform viewers that Hospital Indemnity Plans are available with Advantage plans, that covers all co-pays, that are less cost than Medigap plans, with added benefits. So no premium, less cost for Indemnity plan, equals less total cost
Very true. I have one of those! My Medigap kept going up and up and my advisor suggested I try an Advantage plan. If I don't like it I can go back to my Medigap plan with no questions within the year. I haven't had any problems with the Advantage plan so far and I have had several procedures and they were covered. My agent did suggest for me to get a Hospital Indemnity Plan ($20/month) and I did. A LOT cheaper than Medigap.
Try getting a Autoimmune Disease and have to be infused with medications known as tumor necrosis factor (TNF)-alpha blockers. Advantage plans WILL NOT pay for these these drugs! I learned the hard way!!! Medicare Medigap will pay 100%. Don’t take chances with you’re health.
going through all of this right now. Thanks for the tip in Hospital Indemnity Plans. My agent wants me to go to a Medigap Plan but I am hesitant. @@roberta58952
Preauthorizaion is not as big a deal as being presented here. You need STATS here...the reason stats arevusually not given is because they arent a big deal and stats would show that.
A medigap may be permanent in BENEFITS, but not on PRICE. SO, the permanent label doesnt really fit 100%...price is far from permanent! And, if one wants to stay on MA for life, they can, too.
The F plan has a limited audience because it’s going away and will be unavailable to most seniors. Because of this the cost of the plan is much much more expensive than the G plan which is the plan closest to the the F plan.
If you have any other questions, or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc
Question on pre-authorizations: I wonder if that might be to your advantage. That is, the insurance company acts as a "check and balance" to review the doctor's decision? After all, aren't you afraid that the doctor might order unnecessary procedures on you so they can make money? Don't doctors also have financial motives in their decisions? TIA
We offer both supplement and advantage plans. If you would like to review one kind of plan or all your options we're happy to help. You can contact us at 1-800-864-8890!
The only pro is get original medicare and keep it and metagap coverage backed by the government anything else is gone why do you think you only see advertisements over and over and over for medicare advantage plans c
I try not to be rude when I post but it's a registered nurse for 30 years if I can get away with living from 65 years old to 90 and it never cost me more than a $132 a month for no matter what I want where I go any doctor I want to see any time I want to see dumb no that's cheap money people are paying more a month for their medication and I'll never have a creditor come looking for me And my debts will always be paid
Years into medigap, people pay premiums of $400 upward! They start out affordable, but 2 increases a year can add up...yearly change plus age increase.
