High Deductible Medicare Supplement Plans - Update

High Deductible Medicare Supplement Plans - Finding Value
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My company has done a lot of Medicare supplement high deductible plans. We have offered Medicare high deductible plans for many years. Medigap Plan G high deductible is for those new to Medicare since 2020. These are great Medicare plans for Florida, New York, Washington State, Connecticut and more.

There are events unfolding that will have a significant impact on the value of the high deductible Medicare supplements. If you have a Medicare supplement high deductible Plan G or a high deductible Plan F you will want to hear what I have to say in this video.
If you are considering a high deductible Medicare supplement, this video has information that will help you determine if it’s a good value for you.

The important point to make is that the deductible increases every year with inflation. Of all the Medicare supplement plans, the high deductible plan is the most vulnerable to periods of high inflation. Because the increase in the deductible is a direct decrease in your benefit, periods of high inflation directly reduces the value of the high deductible plan compared to other Medicare supplements.

If you have a high deductible plan with a price that increases every year and a deductible that increases every year you have two major components of your insurance that are compounding against you.
Every year you are paying more for less coverage. If you are just turning 65 you can have 20 to 30 years of negative compounding that you must consider.
I prefer the high deductible plans in States that have a mandate requiring all Medicare supplement plans be priced as Issue Age or Community rated. In these states, there are often some insurance companies where price increases are few and far between.

To find the value of a high deductible plan you need to compare the premium savings of your high deductible vs the premium of full coverage like a Plan N. Then compare that savings to the cost of a hospital stay. Can a single hospital stay ruin the value you see in the high deductible supplement plan?

#HighDeductibleMedicare #PlanGHighDeductible #Medicare2023 #BestMedicareSupplementPlans #MedigapPlans #MedigapSeminars

[MedigapSeminars]

This is my latest on High Deductible Medicare Plans. It includes important updates about the impact of inflation and the deductible for 2022.

[garybalatennis]

I have decided here in PA to go with HDG with United American, an A+ carrier in biz with insurance since 1947 which offers some great low premiums and low rate increases around the country, including in PA. They also offer a Reserve Fund Annuity account, allowing me to fund the annual deductible (max out-of-pocket) I am responsible for before plan benefits kick in. They will agree to pay my future medical bills from the fund, directly to the provider on my behalf. That makes things easy. It also pays a guaranteed 3% interest, with no penalty to close if I ever need to do so. They also said I can switch to another plan within 2 years without medical underwriting, if I wish to change. Hope it works for me.

[rockydaleo]

I will be calling you this week. Retirement beginning of September. Thanks,

[darlenericotta]

I live in California and am looking at your videos. I will watch some more videos! Thank you

[KitaeHapShim]

This is a great update video which is consistent with all of his videos. Quality data and clearly explained.

[garymcmillan]

I am so happy that someone can explain the ins and outs of medicare.

[benchbustr]

Matthew Classen is The Best agent you'll ever find! Honest and Clear! Thanks always!

[KathyBrooksArt]

This was eye-opening. Very informative and answered many of my questions (and some I didn't even know I needed answers to.) Thanks

[janmoran]

Thank you for all your excellent videos, just sent an email to you today for more info. You have really helped clarify a lot with all your comparisons and explanations, thank you!

[glennfenton]

Thanks Matt, your videos are very informative, I am going to send a quote request.

[mariannmason]

Matthew Classen is The Best agent you'll ever find! Love this video.!

[theadster]

Excellent!!! Lot's of well explained info....thanks!!!! Is Arizona state mandate on the pricing????

[cherylmoors]

Thanks for the insight into the fact that Florida is an Issue Age state, helped me solidify my belief that the high deductible plan is for me.

[saintsbabe]

I have just been approved for Medicare part A and B, however I am 55 and was told my another agent that b because i live in Indiana that i would not be able to qualify for any of these supplements until i turn 65 and therefore would have to go with an advantage plan. I called the Medicare hotline but couldn't understand a word they said. Can you elaborate please?

[bharatmajmudar]

Thank you very much for informative video.

[christinedaley]

Question. Isn’t the part B deductible handled differently with plan FHD vs GHD?? Thank you.
The plain plan F covers the deductible as the plain plan G does not. Thank you.

[shihfinancial]

I am in California, can you tell me which company has the most stable premium. Thank you.

[preverror]

Good video - I learned or clarified several things I was not clear on from other videos. In my experience, none of the videos on medigap mention company names.

[christinedaley]

Question. Did you mention that in 2 years into a policy with this unnamed company one will automatically get a letter asking them if they would like to change their plan without medical underwriting? Thank you.

[dennislaplant]

Do you have an updated video on HD-G for 2023? I'm very curious if the big deductible jump changes your recommendations.