Every year insurance carriers that offer medicare supplements have rate increases. These increase may be as little as $5 to over $30 more per month. I don’t have to tell you that when you are on a fixed income every little bit that you can save is worth looking into.
DID YOU KNOW? – You can change your Medicare supplement policy at any time during the year? Did you also know there may be a better value plan than the most popular Plan F? Most seniors that have a supplemental policy don’t really understand that they may have other options. With a Medigap policy you don’t have to wait until the end of the year to change plans!
Did you recently get a rate increase? Are you paying over $125 per month for your Medicare supplement? Maybe it’s time to look at other carriers and/or other plans? We do not advocate Plan F in most cases. In our experience, Plan F is the lazy agent’s “sell.” Don’t fall for the lazy agent’s Plan F.
WHAT DO WE RECOMMEND? – If you could find a plan that saves you $500 per year and gives you the same or similar benefits; don’t you think it would be a good idea to look into it? Most agents and call centers push Plan F because it covers 100% of what Medicare doesn’t (of Medicare approved claims). Seniors are often led to believe that they must have Plan F and that it is their best option. We don’t advocate Plan F because we feel that Plan G is the better value for our clients. Plan G covers everything Plan F covers with the exception of your Part B annual deductible, which for 2015 is $147. Your premium savings alone will more than cover this $147 deductible making the choice pretty easy.
|Why we like Plan G for our clients (below rates are for 67 year old, non smoker female)|
|Plan F||Plan G|
|Annual Premiums||$167.25 x 12 months = $2,007||$83.64 x 12 months = $1,003.68|
|Annual Part B Deductible||covered by Plan F automatically||You pay the $147 Annual Part B Deductible out of your pocket|
|Savings of $856.32/year|
Why pay more than $800 a year to a company to pay your $147 Part B Deductible?? Why not keep that money in your pocket!!
As you can see Plan G can save you a substantial amount of annual premiums and total out of pocket expenses. Remember the only difference in F and G is the annual deductible of $147 (for 2015). Once you pay the $147, your Plan G will work exactly like Plan F. Here is a link to the official “Choosing a Medigap Policy” published by the Federal government.
Bottom line is if you are on Plan F you ARE PAYING TOO MUCH. Also if you are on Plan G and not on the carrier that we recommend (call us to find out who this is) then you ARE PAYING TOO MUCH. If your health and medicines have been relatively stable over the last 2 years, you could have a new lower cost plan within days. We have provided a link below which will allow you to apply at no cost to you. What do you have to lose? More important, what can you save?