Medicare Supplement Plan N Goes Up In Price Slower Than Plan G

Medicare Plan G is the most popular Medicare supplement plan sold in America but Plan N may be a better option for you. In this video, I'll break down the key differences between Plan N and Plan G and how Plan N prices rise more slowly.

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[TheMedicareFamily]

Let me know what you think about the video in the comments below!

[barrytimm]

You do NOT pay $20 every time you go to a doctor, you pay UP TO $20 every time. It may be much less than $20. $20 is the maximum you would pay.

[christopherhennessey]

I really appreciate the good information you provide.

[robertjohnson]

This answered all of my questions. Thanks for the video.

[tpack]

Great presentation. I just chose Plan N for the first time. I think it will save me big bucks over the next 10-15 years in premiums.

[brendapeterson]

Just got my N plan this week ! No excess charge because I live in Pa. I did alot of homework on medicare before getting signed up. Thank you to all you for your help.

[jpearce]

I’ve been watching you on TikTok and really enjoy your presentations. Thanks for the info, are you licensed for PA I will be signing up next year.

[JeanPierreWhite]

I agree that plan N is the better choice for many people. I will take exception to one thing you said. You indicated that sicker people may find a plan G cheaper because they avoid the $20 co-pay or excess charges. While this is true it's only true if you visit the doctor twice a month or more. As time goes by because the rate increases are smaller on plan N the number of times you can visit the doctor until you reach that break-even point keeps going up.

Here's an example

If Plan G costs $140 today and plan N $100, you can see the doctor twice per month on plan N and pay the same as plan G.
Later in your retirement let's say both plan G and plan N go up 100% due to medical inflation.
No Plan G costs $280 and Plan N $200. Now you can visit the doctor 4 times per month on plan N rather than plan G which is the new breakeven point.

This will probably not happen because plan N rates go up more slowly so it will probably be even *better* than the example I gave. If lan N only goes up 50% in the same time period then we are comparing $280 to $150. 6 visits to the doctor each month and plan N is cheaper.

Even sicker people are typically better off with plan N.

The key here is if you are a sickly person when you turn 65, choosing a plan at 65 may end up being a lifetime choice. It's important for sickly people to pick the best plan at 65 since they may not have the option to switch later if they make an error of judgement.

[tomm]

I turn 65 in April 2024 and I'm already signed up for my Plan N Supplement. I live in TX and from my research, I'm not at all concerned about excess charges. My goal was to get the best rate from a good company.

[paulclark]

My wife and I both went with a plan N, the monthly cost for both of us over the G plan, saved us $900.00 for the year. Also not all dr visit are $20.00 we have several that we pay only $14.00. Also we live in PA so no excess charges.

[greyholcombjr.]

Plan G is now the guarantee issue policy. That will have affect demographically on premiums. The small copay With N helps to reduce premiums. Excess charges are extremely rare. Not a concern for me in NC. I'm 100% sold on plan N.

[headlibrarian]

Many of those high dollar specialists you can’t control. If you have a surgery scheduled you don’t get to decide who is assigned to be your anesthesiologist, nurse, or surgical assistant. In many cases you don’t determine who the surgeon is. You can be blindsided by excess charges and I’m not sure how to prevent it.

[epvljkz]

Two incorrect statements were made. The first was "you will pay a $20 copay when you go to a doctor". This is a commons mistake. $20 is the max you will pay. You will pay 20% of the bill or $20 which ever is the lowest. I believe the average doctors bill for someone on plan N is about $14. Likewise the assertion that you will pay $50 for an emergency room visit if not admitted to the hospital is also incorrect. Again that is the max you will pay but often that amount is actually lower.

[patcline]

Since Covid urgent care and telehealth also now charge copays. Also It's up to 20$ not a flat 20$ and if you go to the emergency room and are admitted the copay is waived.

[Nancy-xbwh]

In CT, doctors can't charge the 15% excess, but can the hospitals

[WhittyPics]

We may be healthy today but who is to guess what our situation will be in 5-10 years? Only 2% of doctors charge excess charges today but who knows what the percentage will be in 10 years? We seem to be locked into what ever get for life if our health changes

[kenpoulin]

I understand that it is up to 20 and up to 50, but usually it is lower. And if you are admitted at the emergency room no 50 dollar charge.

[greedygamblerslots]

Just switched my Dad over to a Plan N. He’s in KY and travels to Indiana quite often for family visits. When he visits us in IN he’s technically over 100 miles away from his house in KY to our closest Hospital. I think it’s like 115 miles from each address. Am I right that he’s not covered? The travel on plan N had me worried

[jennifermorrison]

No network is a huge deal, does that apply to out of state as well?

[rb]

Can you switch from a plan n to a plan g if you start going to the dr more often?