Hello, and welcome!
For those of you new to Medicare, maybe you're just turning 65 now
or perhaps you worked a couple extra years past 65 and it's time for
retirement.
If so, congratulations.
Well, you might be asking yourself, what is Medigap?
What is this Medigap insurance I keep hearing about?
Well, stick around. I'll tell you what Medigap is, why they call it that, and
why it's some of the best insurance that you might ever see in your life.
My name is Russell Noga, and I'm the owner of Medisupps.com.
We're an online independent insurance agency for Medicare Supplement
Insurance, also known as Medigap, they are the same thing.
But we're licensed in almost every state.
So no matter where you're watching from, chances are we can help you in your
state with your Medigap insurance.
So what is Medigap?
Well, these are policies put out by private insurance carriers to help pay
the gaps or expenses in Part A and Part B Medicare.
You just coming on Medicare or anybody who's already, unless they have a
Medicare Advantage plan where they opt out, you will be enrolled in part A,
which covers hospitalization, and Part B, which covers doctor services.
So Medigap insurance, again, a policy put out by one of the many different
insurance carriers that we represent, helps pay those gaps or expenses in Part
A and Part B.
Now, what are those?
Well, there'll be things like co-payments or co-insurance, or
deductibles.
And without a Medigap Plan, you're required to pay those out of pocket.
So these plans are outstanding coverage.
One thing I will stress, there's no network with these plans because
Medicare has no network.
Medicare is a federal program.
And a Medigap Plan will follow Medicare wherever you go, or wherever it's
offered throughout the country.
So back to the actual name. That's where they get Medigap that helps pay those
gaps or expenses.
These are also frequently called Medicare Supplement Plans.
They are the same thing. So whether you hear Medigap or Medicare Supplements,
which obviously just supplements Medicare, that's the exact same
coverage.
So as I mentioned, there are Medicare parts, which are Part A and B.
And then there's also Medicare Part D Drug Plan.
Now, Medigap plans are also lettered.
Just to confuse you a little bit more.
These letters are A through N.
However, there's a couple missing because there's been some changes over
the years.
The most popular Medicare supplement plans or Medigap plans available today
are Medigap Plan G, Medigap Plan N, and then Medigap Plan F,
which is still around.
However, if you're new to Medicare now, you're not allowed to enroll in a Plan
F.
The reason is, on January 1 of 2020, Medicare eliminated that plan for new
beneficiaries.
If you're watching this and you've got a Plan F, well, you obviously know you got
to keep it.
That's not necessarily a good thing.
In fact, I never recommend Plan F, and I haven't for years, even before it was
going away, because it's simply too expensive.
The only difference between Plan F and Plan G is who pays the Part B
deductible.
Now, we are in 2020, that deductible amount is $198.
If you still have a Plan F, one of you folks who's watching,
I know you're out there, that still has a Plan F.
You are paying likely 200, 300, $400 extra, over 200, for sure, in the $300,
$400 range to get a $198 benefit.
Plan G is identical the Plan F, but I'll get into the details of each plan here
next and I'll show you exactly why it's a good idea to shop for Plan G
or even Plan N.
So let's compare Medigap plans now and the benefits of each.
And we'll help you understand exactly why Medigap is such great coverage,
but also the differences in the plan letters that are the most popular.
I'll start with Medigap Plan F, because I was just talking about that.
And Medigap Plan F offers 100% coverage of the gaps of Part A and Part B.
Now, you pay a monthly premium for any Medicare Supplement Plan.
And that's just to have the plan.
With Plan F, as you folks know who have it., you don't get any medical bills
beyond that.
However, you're paying through the nose for it and you have higher rate
increases now, because the plan is closed.
Now, I get it, if you want to keep it, it's great coverage.
If you can afford it to never see a medical bill, that's a great luxury,
then, by all means, keep your Plan F
However, it's still a great idea to let me shop for a better rate
because they're out there and you can switch Plan F's to a different company
or switch coverage with a different company if you still got a Plan F.
But back to the coverage of each plan.
Now again, just think Plan F covers 100%
Well, what about Medicare Plan G?
Well, again, as I mentioned, it's identical to Plan F, except with Plan G,
you pay the Part B deductible each year, yourself.
You write the check for the deductible once per calendar year, and then it
almost turns into a Plan F with 100% coverage after that.
Now, again, we're in 2020, that deductible is $198.
That changes a little each year, it's going to go up next year.
I doubt it's going to go down.
It did one year, but I think those days are over.
So after you pay the deductible, the $198, then you get 100% coverage.
Well, Plan G, the premiums are much cheaper than Plan F to begin with.
In fact, like I mentioned, Plan F, you're paying far more than that
deductible amount to have them write a check with your money.
Take five minutes, write the check each year on Plan G and then get that 100%
coverage.
So that's the reason, especially for new people who can't even get a Plan F, Plan
G is the most popular plan.
You pay the one Part B deductible, $198 in 2020.
It should be around 210 for two 2021.
Don't quote me on that, but it's probably going to be close to that.
After you pay that deductible, you get 100% coverage of all approved expenses,
medical expenses, for the rest of the year.
So let's talk about the other very popular Medigap Plan, which is Medigap
Plan N.
Now, with Plan N, it is nearly identical to Plan G, just in the fact that you
still have to pay that Part B deductible that I mentioned.
The difference between plan and Plan G, the big difference is Plan N is cheaper
in monthly premiums than Plan G.
Now, you might be saying, "Russell, sign me up, sounds good already?"
Well, there are a few things that could come up but in exchange for those lower
monthly premiums, you can have some additional out of pocket expenses,
but they're not big.
And Plan N is a great choice, believe me.
I've got my own mom on Plan.
She absolutely loves it.
She's been on that since the plan came out in 2010.
The difference between Plan N after you pay the Part B deductible, which you do
on Plan G, you might have a small co-pay per doctor's visit for the rest of the
year.
So if you pay your deductible and you go back to the doctor sometime during the
year, you might get a small co-pay.
Now, here's the great news, that co-pay is never going to be more than $20 per
visit.
It might be less, too.
Or it could be no co-pay.
It just depends on what you go for and how they code it.
So you'll know that it's never more than $20 per doctor visit on the co-pay.
Now, we can shop the rates and show you the difference in premiums and we
should, everybody out there.
We don't just put you on a plan and say, "Here, here's the best plan," because
everybody's situation is different.
I know a lot of agents do that. They say, "Go with Plan G, it's the best plan
out there."
Well, that doesn't mean it's the best for you.
What if you're super healthy and you're on a budget, Plan N is definitely the
way to go.
So, we ask everybody all the questions we need to to determine your own
specific situation.
And then we match it up to the plan letter that makes the most sense.
By the way, there's no cost ever for our services.
Now, Plan N again, great coverage, you could have that co-pay of up to $20 per
doctor visit.
One other thing on Plan N...
Actually, two more.
If you visit the emergency room and you're not admitted on a Medigap Plan N,
then there'll be a $50 co-pay.
They will bill you that later.
That's just to keep people out of the emergency room for small items.
You know, "Well, geez, is this really an emergency?"
A lot of people go to the emergency room, believe it or not, a lot of people
go to the emergency room for things that are not emergencies.
I know, hard to believe, right?
This is to keep them out, because if they know, "If I go, it's not an
emergency but I can get in quick,' it's going to cost them 50 bucks
with a Plan N.
Now, one other thing on Plan N is it does not cover what's called Part B
Excess Charges.
These are extremely rare, Part B Excess Charges.
In over a decade I've been in business, none of my clients have ever seen a Part
B Excess Charge.
That's how rare they are.
Now, with Part B Excess Charges, the doctors who don't accept the
assigned rates for Medicare. That's why it's rare.
Almost every doctor out there accepts what's called assignment
or the assigned rates for Medicare.
In the event they do not know the small percentage, they can charge up to 15%
extra on their medical bills.
You would have to pay a percentage of a percentage if you had a Plan N and the
Part B Excess Charges.
With the amount of money you're saving on Plan N and your monthly premiums,
even if that came up, which is extremely rare to begin with, Plan N is still
a fantastic option.
We can definitely look at the rates, especially against Plan G to see if it's
the best option for you.
So at this point in the video, you're saying, "Russell you sold me on Medigap.
Sounds like great coverage. I can use it nationwide. Covers most of my bills.
I might have a couple small co-pays or none, depending on which plan I go with.
What's it cost?
Well, the Medigap plans cost varies; a number of factors.
Now, it depends where you live. So it's your zip code, it depends on your age.
If you're just turning 65, the premiums will be lower than somebody
who's 67 or 8.
Whether you use tobacco or not, and what your gender is, and then you might
qualify for a household discount.
Many companies actually give a household discount, even if you just live with
somebody.
They don't even have to be applying.
Every company is different, though.
And that's one other reason why I suggest you allow us to help.
We shop them all. We know the discounts of each company.
We know if you'll get one. We can tell you right away.
Again, if you call direct to just one company, you're just stuck with their
rate.
And believe me, these plans are standardized by the government,
which means they all have identical coverage within each plan letter.
So the great plan G I talked about, whether it's Aetna, Cigna,
Mutual of Omaha, they all have the same plan G.
Now there's a lot of other companies, believe me.
If I go down the list, I go into my quote engine and I shop Plan G for you,
which I hope I can, I hope by this point you say, "Yeah, this guy's okay, I think
I'm going to work with him."
Well, I can see the lowest premium for Plan G, for example, might be around
$100 per month.
The highest could be $240 a month.
What's the difference?
Nothing. Nothing at all.
And it's a big difference if you didn't allow us to shop.
Because if you went right to the company that charged 240, you're out all that
money and there's no difference in coverage. It's the same.
So whether it's a Plan G or a Plan N, or even a Plan F, every company has the
same coverage.
So now if somebody comes up to you and says, "What is Medigap?"
You could say, "Hey, I learned it from this guy online, Russell Noga with
Medisupps.com.
He told me all about it. Now, he's my agent.
Well, seriously, though, we would love to help you out. Shop the rates,
show you the differences, as well as answer any other questions you have
about Medigap and Prescription Drug Plan coverage.
Because I know you've got some questions about that, too.
So to get those answered today, again, our service is free.
There's never any obligation.
I've been doing this a long, long time, believe me.
One of the first guys on the internet to ever do this.
We have no hard pressure sales.
We want to answer all your questions, educate you first, and hopefully you
become part of our Medisupps.com family.
So we'd love to speak with you now.
Just give us a call at 1-888-891-0229.
And we'll get you in the best spot with your Medigap insurance now, and for
years to come.