if you're turning 65 and you're getting ready to come into Medicare you're
probably hearing bout Medicare supplement plans so how do you know
which one to choose or how do they work I'm going to explain it all for you
right now it's not so hard so stay tuned
so let's talk about Medicare supplements and when you're turning 65 and you're
coming into Medicare you've got a lot to learn so you've probably figured that
out by now that you need to figure everything out because you have to make
some choices when you come into Medicare and I'm gonna try and make it as easy as
possible for you understand exactly what Medicare supplements are and how they
work I'm Keith Armbrecht I'm founder of Medicare on video and I help people
across the country make the right Medicare choices and I can certainly
help you as well and there's no cost to use my service so whatever insurance
company we end up choosing they pay me a little to be your service agent now and
in the future so it makes a lot of sense to utilize anything you can that will
help you make the right decisions so one thing I would ask now is if you do find
this video helpful please subscribe to my youtube channel it's a big help to me
and it tells YouTube that it's valuable so they show it to more people just like
you turn in 65 so let's talk about Medicare supplements real quick pretty
easy to understand so the first thing we need to understand really is why do we
need to have a Medicare supplement if we have Medicare why do we need a Medicare
supplement well when you come into Medicare the first thing you do is you
have a choice and it's a big choice you need to understand this as well and I
have other videos on this but you're going to either choose to stay on
Original Medicare which is Part A and Part B or you're going to choose to go
into a Medicare Advantage plan which kind of puts things together now the
biggest difference between these two stay non Original Medicare gives you
much more flexibility and freedom to choose whatever doctor or hospital you
want to use now or down the road and that's anywhere in the country Medicare
Advantage plans are more of an HMO type environment where they may
but lower-cost on the front side and premium they generally have a higher
cost on the out-of-pocket expense and then you're limited in the doctors and
hospitals you can use you have to use a specific network of doctors and
hospitals and a lot of times you have to get a referral to go from a primary care
to a specialist so that's the biggest difference between staying on right on
Original Medicare a and B and choosing a Medicare Advantage plan so if you do
stay on Original Medicare a and B you need to understand kind of how it
functions and it covers quite a bit but it doesn't cover everything so that's
where Medicare supplement would come in if you have Original Medicare Part A and
Part B Part A covers the hospital so it's the inpatient part of your health
care so if you're ever in patient in a hospital it's going to fall under
Medicare Part A now the biggest out-of-pocket cost with Part A is the
deductible so you have a deductible on your Part A of fourteen hundred and
twenty dollars and that's for year 2020 so we're coming up on that right now so
in 2020 the out-of-pocket deductible for Part A is going to be fourteen hundred
twenty dollars obviously a big deductible not something you'd want to
be facing if you're going to go into the hospital so that's a reason you get a
supplement is to cover that deductible now Part B costs our outpatient cost so
everything kind of that happens outside the hospital where you have doctors
outpatient whatever it may be it also has a small deductible in 2020 it's
going to be 197 and then it pays eighty twenty and that's great coverage but the
problem with it is the twenty has no stop so if you have a normal year not a
big deal if you have a few hundred dollars of medical expenses and you're
paying twenty percent not a big deal the problem is if you have a catastrophic
year and you have $100,000 a year or eight million dollar a year then that
20% can elevate very quickly so that's another reason you want a Medicare
supplement is to cover what Medicare a and B do not now Part B also has what's
excess charges and that's a little bit of a gray area I go into some in depth
on it on other videos but excess charges come down to when you're choosing a
Medicare doctor whether they accept or whether they accept Medicare assignment
or whether they just accept Medicare and if they only accept Medicare then they
have the ability to build 15% above what Medicare is going to pay them so that's
another reason you might want to supplement is to cover excess charges so
I have a video on how to pick a supplement so you know it's not quite as
black and white as it needs to be but it's really not that complicated so you
can see here on this chart and there are some changes now in 2020 where plan F is
no longer going to be available so you're going to be choosing generally
between plan G plan 10 or plan G HD and if you take a look at the video link
above that'll bring you to my video on the best medicare supplement and then
I'll also put the link below this video to help you choose and that's what I do
is I help you find the right choice for where you're located so if you visit my
website Medicare on video comm you can put your basic information right there
and we will get you a quote on Medicare supplements wherever you live we're
licensed in 49 states so we can help just about everybody and would certainly
be happy to do it and again if you found this video helpful please take just a
second and subscribe to the channel then we'll always have access to my videos
when they come out and it will certainly help me and help YouTube understand that
it's something of value that others would like to see so I hope you found
this video helpful and I hope you have a fantastic day
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