Medigap Insurance 2018 Which Medicare Supplement Plan is Best?

 I wanted to talk a little about Medicare today. Medicare Supplements, which plan is best? Plan F or plan G? Will kind of go through that a little bit, but understand comparing your plans, whatever plan you're on today, it could save you up to 30% on your Medicare supplement. But two things that you need to know when comparing your plan. So two real good tips one- the first one that's real important. Once you have understanding and this really, makes this process a whole lot simpler. But the first tip is making sure that you understand out of the Medicare & You book that everybody gets sent out. If you turn to page 81 this is real important and I'll read this right out of the book. It talks about every Medigap policy must follow Federal and State laws designed to protect you and must clearly identify itself as a Medicare Supplement. Here's the key. Insurance companies can only sell a standardized policy identified by letters A through N. All policies offer the same basic benefits. So what that's telling you -if you have a current Medicare Supplement- if it has one of those letters Plan A through N. If you look at another plan as long as you look and follow that letter code system, you are not going to lose coverage. And it really gives you a real good idea that all plans are treated equally. So that's something again like I say right out of the Medicare & You book and real simple again page 81 makes real clear that how these plans are treated, and they are all the same. The second tip that I have is to follow up on that and really is take a look at this chart and go into a little more detail on what plan is the best, in my opinion. We'll look at the chart here, and as you can see in the chart that's displayed here that shows Plan A through N, just like I mentioned and the two most popular plans that we see and we work with customers on a daily basis reviewing their Medicare plan Are in the middle and that is Plan F and Plan G. Plan F has been long-standing and that that's been the the go-to if you will, policy. As you can see from the chart that goes all the way down through the the list of things that it covers and that Plan F is the most comprehensive medicare supplement you can buy. Because that covers everything that a Medicare supplement has to offer. So like I say that's been the long-standing policy that's been going on We're seeing a lot of interest in the Plan G, which is just to the right of that. and really the only difference between the two are with the Plan G. you would have to pay the Medicare Part B deductible and that deductible for 2018 is a hundred and eighty three dollars. So that's really your only out-of-pocket. So folks that are on a Plan F and they're they're overpaying on that and want to look at other options. In my opinion the Plan G is a great alternative for two reasons. The plan G offers a lower monthly premium of course but when you add a deductible on to a plan, even when it's a minimum deductible $183 that brings your cost down initially not only now, but to the insurance company it's going to have less claims when you don't have a first dollar coverage plan we're seeing lower increases on those plans than we are for example with the Plan F. So that's the first reason that I feel the plan G is a better alternative. Secondly, by 2020- so within a year and a half- all of the Plan Fs are going to go away and really Plan G is gonna take its place. 

So that's something that Congress passed legislation that no company will be able to offer Plan F beginning in 2020. So with that in mind we're talking about the plan G a lot just because what we've seen with insurance companies in the past, once they stopped writing a particular plan for example when they stopped writing the Plan F, I would anticipate that that those rates are gonna increase substantially on any existing Plan F that's out there beyond 2020. Because that's going to be a closed group and typically the closed group plans go up substantially after that date kind of sunset. So all the more to look at a Plan G. Not only for the value now, but anticipation for what's happening in 2020. So we're seeing again a lot of interest in the Plan G, so that's why I feel, it's a good thing to look, at in my opinion one of the best plans that that you can take a look at today. And when you compare the plan we talked about before- even if you whether you go with the F for the G by simply comparing your plan I mean you can possibly save up to 30% on your existing rate. Here's just I jotted down a few examples of customers that we just worked with in the last couple weeks. These are sample cases where people that we worked with had an existing plan, reached out to us through a website or some type of Ad that we're running whether it's your Facebook, YouTube Any of those other sources that we use. Here's a couple that in Wisconsin they were paying five hundred sixty one dollars a month. We got their premium down to two ninety three. So that saved him a total of two hundred and sixty eight dollars a month. Here was a couple in Wyoming they were paying $400 a month we got their premium monthly rate down to 244. It saved him a hundred and fifty six dollars a month. Here was an individual James, who just worked with not too long ago. He was paying $300 a month just for himself. We got his monthly rate down to 170 so that saved him $130 a month. Here was a couple that I personally worked with, Neil and Nadeen in North Dakota. They were paying five hundred and sixty dollars a month for the two of them. We got them the same plan got the rate down to 293 a month saved him two hundred and sixty-seven dollars a month. I mean, that's a huge savings when you start adding that back into their income. That's cash that's freed up to them immediately. They were ecstatic! And here was another individual in Arkansas. He was paying 226 a month got his rate down to 159, saved him to sixty-seven dollars a month. Or Carol in Nebraska, who I worked with. She was paying 251 got a rate down to 144 so was it saved a little over a hundred bucks a month. So again, those are the kind of savings that we're realizing for folks and again like I say, that's instant cash that's put back in their pocket or their budget, that they can add right back in automatically. So simply by comparing your plan you can see some of these benefits that some of these folks are are realizing instantly.Thanks for reading.