Is A High Deductible Medicare Supplement Plan Right For You?

Are High Deductible Medicare Supplement Plans a good option? These High Deductible plans are becoming more and more popular, mostly because of the lower monthly premium costs. For those who are healthy, why pay for more for something you aren't using? Unfortunately, there are some weaknesses to these Supplement plans that you should be aware of before making a decision.

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⏰ TIME CODES ⏰
0:00 What is High Deductible Plan G?
0:37 Strength 1 - Lower Premiums
1:21 Strength 2 - OM Benefits
1:47 Strength 3 - HSA Option
2:02 Weakness 1 - The Deductible
2:16 Deductible Example
3:57 Part A Exception
4:48 Weakness 2 - Not Everywhere
5:11 Weakness 3 - No Other Coverage
5:28 Breakeven Calculations
6:52 Our Experience
7:53 Wrap Up

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#medicare #medicaresupplement #90daysfromretirement

Federal Disclaimer:

[diannalocke]

I can't thank you enough for making these videos!! So informative!!!

[CD-qlhz]

Many people only consider the age 65 rates. By age 80 the cost of plan G will be unaffordable. Around 80 the difference in premium between G and HDG is more than the deductible.

[tomm]

Thanks again Erik. I thought about the HDG but decided to go with Plan N since in addition to the Part B $240 going up every year, the HDG deductible of $2, 800 will go up every year as well.

[bobm]

I live in NY & save over $3, 000 annually in premiums between a G and a HDG & also because I’m in NY, I can also change over to any other supplement plan at anytime with no underwriting. So if you live in New York State getting a high deductible plan G is a no-brainer.

[randyw.]

The deductible is tied to inflation. The more inflation the higher the deductible rises. What you are really doing is using traditional medicare as your primary insurance with its deductibles and copays and the HDG is a lifeline MOOP.

[eduardooramaeddie]

Thank you for the Medicare information plan G Thank you 1🇵🇷🇺🇸🏝

[kathyann]

I'm in Florida and so far still like my HDG best. I wouldn't be able to afford reg G and N would be a little tough too. Had a lot of procedures and doctors visits last year and also this year but I'm still money ahead. Will I switch to N for one year at my 2 year mark just so I have that option every 2 years? I will seriously consider it. But not having to get authorizations and going to the doctor I choose whenever I need to is such a breath of fresh air. I'll stay on medigap for as long as I can even it means giving something else up because healthcare is too important.

[eduardooramaeddie]

They do except Medicare original here in Puerto Rico 🇵🇷, but I'm not sure if all doctors here in Puerto Rico, except Medicare original 🤔

[ReuvenFreuman]

Interesting analysis. How does this work in states like New York, where I live?

[trachda]

Will the HD plan G have a lower rate of premium inflation over plan G or N?
Thanks

[youdan]

hdG is $120 less than G and n is $20 less than G where I live in Florida. N doesn't make much sense here.
Relatively healthy makes hdG attractive here.

[anitamartins]

What happens with HDG premiums over time? .
All supplement premiums A-N are subject to increase yearly based on age unless policy states otherwise.

[jdenino]

Haven't added it up but my husband had about $200, 000 in medical expenses last year so high deductible G seems like a decent deal. i think we paid at least that much in coinsurance on a regular BCBS plan with his job with a $250 deductible. (it's a good plan through his employer). Out of Pocket Maximum is/was about $2000 I think, gotta check the card...it says IND OOPM 2, 000. FAM OOPM is 5, 000. This doesn't include copays which are $20 to primary doctors and $25 to specialists. This is all very confusing!

[inflames]

Can someone be able to change later from HDG to regular G?

[bernardberry]

I'm on a plan GHD. My 2023 part b was met with 3 different drs ($226) I only paid $144 is this common?

[ph]

I was really gug-ho over the G-HD, but recently, another Medicare insurance broker had a video where he said something to the effect that, with the G-HD, your Part A amount - that $2600 for getting admitted for the like first up to 60 days that "in-patient period" you could get hit again if you are admitted again after that period (so a new period) in that year and you'd be on the hook for that too. He was the only one that mentioned this and it didn't make sense, your G-HD deductable should be your MOOP for the year, I thought, so that threw me for a loop. But then, your video a little while ago showing the cost breakdown between G, G-HD, and N looked like if you have a bad run of health for multiple years it really can cost more with the G-HD. Are there statistics/averages that show stats for people in the various age brackets and how they fare? I've been fairly healthy so far (just 60) and haven't spent (out of pocket) yet $700 on my retiree medical plan from my former employer. But in 5 yrs, 10 yrs, who knows, it feels like such a gamble sometimes guessing which is right for whom, when...

[anitamartins]

Why does it seems the government is not in favor of Medigap policies? They’re much too expensive.

[JohnTrebing]

Any way you slice it, Medicare kinda screw’s you. You’ve paid into Medicare all you working life and now you have to pay a monthly premium plus decide on additional plans to cover your ass.