Medicare's Best Kept Secret! - The High Deductible Plan G Revealed

Medicares Best Kept Secret #1: High-Deductible Plan G

In this video I reveal what I consider to be Medicares Best Kept Secret. I explain why many people haven’t heard of it and in the end who should really consider getting a High-Deductible Plan G.

⁃ Who Is The Ideal Person For A High-Deductible Plan G?
⁃ Their health is important to them
⁃ Very healthy
⁃ They maintain their health
⁃ They eat healthy
⁃ They exercise
⁃ They have good mental health
⁃ They may pray or meditate or think positive
⁃ They plan on staying in good health
⁃ They are financially savvy
⁃ Repurposing premium dollars for other Retirement Insurance Solutions™
⁃ LTC
⁃ Life Insurance
⁃ Dental Insurance
⁃ Investment
⁃ In the event of an in-patient hospital stay or outpatient surgery, they can easily come up with up to $2,700 to cover their share
⁃ They want maximum healthcare flexibility and don’t care about all the extra benefits and “getting what they deserve.”
⁃ Premium Comparisons and Savings Over Time
⁃ OK Chris, that sounds like me, but what else could I consider?
⁃ Plan N
⁃ $0 Premium Medicare Advantage plan with good drug coverage, large network and generous extra benefits.

© Medicares Best Kept Secret #1: High-Deductible Plan G | 2023 | The Medicare Analyst™ | All Rights Reserved
 
 
Phone: [phone]

00:00 Medicare's Best Kept Secret!
00:29;13 Why haven’t you heard about the HG Supplement?
01:07;15 What is the high-deductible Plan G?
01:49;20 What is the current deductible amount?
02:00;10 How is the deductible amount determined…and, how high will it go?
02:58;08 Who is the ideal person for a Plan HG?
04:46;19 Premium Comparisons
06:46;03 Two other options
07:46;17 Contact info
07:54;07 States I’m licensed in
08:26;19 Medicare Marketing Disclaimer
 
This video is for information and educational purposes.
 
This video is not “marketing” any specific Medicare plan or Medicare plan type. There is NO “intent” to draw you or any Medicare beneficiary to a specific plan or plan type, influence you or any Medicare beneficiary’s decision-making process when selecting a plan, influence you or any Medicare beneficiary to stay enrolled in any certain plan or plan type.
 
This video should in no way be construed as advertising any Medicare plan or plan type. Any possible mention of plan benefits, copays, premiums, etc.—is purely for informational, educational and comparison purposes.
 
I do not endorse any specific Medicare plan or plan type (Part C or Part D).
 
Any form or marketing or advertising in this video is purely to market myself and my services and not any specific Medicare plan or plan type.
 
Medicare/CMS has neither reviewed nor endorsed this information. I am not connected with, employed by or endorsed by Medicare/CMS and/or the United States government. When you contact me, you will be contacting a licensed insurance agent in the states of Virginia (License Number 784528), Florida, North Carolina, South Carolina & Tennessee.
 

[randolphh]

We are in FL. Difference between G and HDG is well over $100. So saving $1400 per year in premiums. NO recent premium increases. Also the “deductible” is a “copay” for outpatient. Only a deductible for inpatient. So it gets down to expected usage. True exposure per year is $2700-$1400=$1300. For outpatient need to have $5000 in charges to create $1000 in cost to us.
On average would expect to save $1000 per year if no major health issues. With a major health issue would be down $1300. So if a major issue 1 in 3 years, close to even. If less than that will be ahead. We are physicians and know that for the average healthy senior, it is about 1 in 5 years for a major health problem.
So this is strictly playing averages. The risk is not that high, especially compared to commercial insurance that many of us dealt with over the years. We also have HSA money to deal with medical $. And just as in the past, sometimes we can shift some medical costs into the next year and create a year when we max out. Examples would be elective surgeries, like knees or the like.
As you said better for the healthy, (and the more aware)

[SpynCycle]

A calm rational explanation of the advantages/disadvantages of the High Deductible Plan G. How refreshing. Many videos I've seen, the presenter starts calm but then transitions in a rant about how terrible the HG is and how anyone who chooses one is doomed. Thank you.

[josephhaley]

CA - good info. I've still got 3 more years to go but, from what little I do know, I'm hearing about regrets with any advantage plan. It seems like only common sense to put the premium savings into a bank acct. that will pay for the larger cost events. I'm hearing N will be the best deal over time, but the HDG is a runner up in my way of thinking.

[g]

Very good info, and my experience as well with agents not volunteering any info on High-Deductible Medigap. However, they would oblige if i specifically asked for HD-G plan info. But if the prospect isn't aware of HD plans....

[ChrisSadowski-ppnp]

A very balanced video. Even 20 years down the road the out of pocket cost is only 4500 dollars, still cheaper than these privatized plans. Maybe it would be best just have one plan. Medigap G and raise the part B deductible to 1000 dollars. That way you have healthy and unhealthy people mixed together in this plan and between that and the higher deductible the premiums and rate increases would be lower.

[CD-qlhz]

The Premium Comparison chart shows that at age 80 the cost difference between the high deductible G and G is more than the deductible. That’s something to consider! For many, plan G will be unaffordable at age 80 and beyond.

[pratimapandit]

From MIchigan.Thank you for the comparisons.Savings are worth it especially if in good health, For 2024 Part A deductible is $1632 and Part B is $240.00 which are credited towards the HD G deductible of $2800.Then 20% Medicare assigned rates apply, Chances are one would not even meet this amount in most cases

[b.walker]

OKLAHOMA, where the winds come sweeping down the plains. The secret is out! THANKS for the tip!

[randyw.]

One bad year can wipe out four to five years of premium savings. I'm leaning towards a plan "N". While the HG is appealing if your 65 and healthy you have to consider as you get older and older serious health problems are likely to happen over a period of years. It's a gamble if you get stuck in a HG plan.

[purplekat]

What about the high deductible plan g with optional 3 year rider that loses the $2700 after 3 years?

[bigslick]

Hey, much of my family were born in, and still live in Charlottesville. My mother is in Assisted living at Pantops😊

Anyway, I have a question about someone 65 or older who retires to another country like Thailand and who will have an international health insurance plan over there, but will be flying back to the US 2 or 3 times a year, for 3-4 weeks at a time. Or flying back for any major medical issues.

Would Medicare Part B and a Medicare Advantage plan make most sense? (I eat healthy and exercise, but do have a form of Glaucoma which requires expensive eye-drops - $1k+ for 3 month supply). I doubt this will happen but am curious about best option. Thx

[rubygreta]

AN ABSOLUTE NO-BRAINER IF YOU LIVE IN NEW YORK.

[johnscott]

The plain facts are that 94% of people with a high deductible plan never make use of them. They pay all of the premiums and then also pay all of their medical expenses that regular Medicare doesn’t pay. If you are going to go this route maybe just self insure and come out ahead?

[Teporame]

To be religious does not have anything to do with mental health. I am not religious at all and I am as mentally stable as anybody can be.