Is Medicare's High Deductible Medigap Plan for You?

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Intro 0:00
What is a High Deductible Medigap Plan? 01:16
Example 03:09
Insurance Companies 03:50
Medicare Mini-course 05:53
Determining Value 06:52

OK, first, the High Deductible Medicare supplement is the only Medigap plan with its own deductible. The other supplements may or may not cover one of the Medicare deductibles, but they do not have their own deductible.
Still, a Medicare supplement deductible has no impact on your Medicare. None. It does not create a high deductible for your Medicare! The high deductible is for your supplement only.
Medicare is your primary healthcare insurance.
...This is why I prefer the High Deductible supplements in states where they mandate all supplement plans be priced as either Issue Age or Community rated. In those states, with the right insurance company you do not have regular annual price increases. That neuters one of the two variables that negatively compound against you.
You may still see a price increase, but they are few and far between.

With that in mind, to measure the value and risk of a high deductible supplement you want to compare the annual premium of a high deductible plan to the annual premium of a Plan N. I use the Plan N because it is the lowest cost supplement plan with full coverage. Full coverage meaning you have 100% inpatient and skilled nursing facility coverage.

#medigapseminars #medicaresupplement #PlanG

[candeffect]

I have G-HD for $32 and $34 at 66.
I can easily afford the max out-of-pocket each year if needed.
The primary reason is the incentive to stay healthy to avoid medical costs.
When working I had inexpensive healthcare coverage and I was not healthy due to the free junk food at work every week.
I now eat only two meals a day and only nutrient-rich foods and nonsynthetic supplements. My health is excellent now.
Do everything you can to stay away from the medical industry. The doctors I had to go to never asked me about my diet. They can't make money from healthy people.

[kim.in.nature.]

I turn 65 in 5 months. I am a planner, so I have my consultation scheduled with your company next week.
I have picked your company over all the others, because you have the best & clearest info and are honest.
Thanks!

[Gmanspecial]

Unicare used to offer a high deductible plan F that had copays to the dr and emergency room. It has since disappeared. I’m an agent but enjoy your teaching style and am a subscriber.

[kallara]

I chose G-HD because I save $210 per month, My savings are 210x12=$2520 per year. If I go to the hospital My deductible is $2800. I lose 2800-2520= $ 280 that year. If don't go to the hospital for a few years I am way ahead of the game I believe.

[jonr]

Thank you for another good video. Much better than some of the other so called experts on youtube giving out failty information to increase their commissions.

[GmahKerry]

Wow! Thank you for explaining this correctly! I had believed the “school”saying it differently -thanks for clarifying

[anitamartins]

I chose HDG primarily because of the MOOP and knowing this amount can be paid in increments depending upon the service. My budget is extremely limited with social security less than $1800/month. So any payment towards a deductible is a sacrifice. I was adamant that I would not go into MA.

[DC-sjtc]

Thank you very much for clarifying information!

[LarryCoburn-iwcl]

YES, WHY YES IT IS.ONLY USE IT WHEN SURGERY OR EMERGENCY.

[bigd]

Appreciate your videos. Very informative. Look forward to working with your agency in the not to distant future. Thank you!

[cecilialugo]

Im turning 64 and im confused but this really lays out the whole blueprint..THANK YOU!

[exmarine]

I pay $210 less per month on premiums with my plan G HD. That is $2500 per year. I am healthy and have already saved $7500 in premiums. Unless I go to hospital, I never reach max out of pocket because Medicare Part B pays 80 pct, so even with deductible, I pay small amounts for Doctor visits fir my 20 pct portion. So, unless I am going to hospital on a yearly basis I come out ahead.

If worse comes to worse, I believe I can switch to Advantage with no underwriting.

[lisamccormick]

Excellent video. Do you sell plans for Florida residents?

[davidfolts]

Will Rogers said there is nothing so uncommon as common sense. Combine that with cutting-edge information on Medicare, and you have your outstanding YouTube channel!

[rubygreta]

In NY, the difference between the HD Plan and the full G plan was less than a couple of hundred bucks a year less than the $2, 800 deductible. A No Brainer.

[philjimmybob]

holy crap! I live in Washington state and the G high deductible plans are $150 to $200 less than the straight G. Definitely no contest there for me since I'm relatively healthy and will be starting Medicare in March at age 70. And around a $100 to 120 less than the N.

INS Co.s with Hi- ded G plans $56 or less are:

Globe Life $54
Medico (Wellabe) $56
Primera Blue Cross $49
United American $48
United World $56

[MikeD_]

I'm not on Medicare quite yet. That's coming later this year. I live in NY where supplemental plans are very expensive compared to the rest of the country. On the flip side, I can move between plans without a medical underwriter. Seems to me that either a HD Plan G or a Plan N are the best options as long as the MOOP isn't a problem.

[brianmcneil]

For 2023, in my particular market, Alaska, I noticed that the least expensive G-HD plan had a "convert to standard plan G later" feature. The only problem was that even though they were the least expensive G-HD, they were consistently the most expensive standard plan G at a variety of ages.

[Dadinator]

Love your videos!

Question for friend who is New York State resident: since you can change Medigap plans at any time without underwriting, if you have G-HD and on November 3 was told you will be incurring major medical expenses, when is the earliest changing to G could be effective, November 4 or December 1?

[Retiredmco]

Loving the information Matt. When I get to 64 and half I'll DEFINITELY be interested in the 2nd HDG example you gave. Where the company charges HDG premium for regular G after 2 years.