Hello, and welcome!
Now, with many Medicare supplement plans available,
if you're new to Medicare, you might be scratching your head saying,
"Where the heck do I start?"
Well, by all means, allow us to help, even if it's just watching this video.
My name is Russell Noga with Medisupps.com.
We've been in business 11 years helping seniors with their Medicare Supplement
Insurance, and it always starts with education.
So today, we're going to be talking about a Medicare supplement plan that is
rising in popularity, for good reason.
It's got great coverage and low premiums.
And that is called Plan N Medicare.
So you may have heard of Plan N, but perhaps not, because all the rage for
the last several years has been Medicare Supplement Plan F.
Now, Plan F does offer 100% coverage, and for years it had good reason to be
all the rage, because for whatever premium you might pay, you didn't get
any medical bills.
However, over the years that became very expensive.
And as of January of 2020, they have eliminated the plan.
Now, for you folks out there with Plan F, I see you.
We need to talk because of a couple different reasons.
Yes, you can keep the plan if you've got it.
Congratulations!
However, a closed plan equals high rate increases and high premiums.
There are other options available, including if you're dying to keep your
Plan F, we can switch it to another company and save your premiums on that.
So by all means, give us a call if you would like to look at those options.
Now, Plan N is what we're talking about here today.
There's another plan called Plan G.
Of course, check out all my other videos, like and subscribe to the
channel.
And you'll get up-to-date news on these where you can learn about Plan G.
But I wanted to focus on Plan N Medicare for a specific reason.
It's a fantastic plan.
A lot of people haven't even heard of it, let alone, know about the details.
And as a matter of fact, I think we've put close to eight different people
on a Plan N today because they learned about the benefits
and found out that it was going to fit their needs great.
So let me just cover some of the benefits of Medicare Supplement Plan N.
Now, Medicare, of course, pays first and then your plan is secondary.
So, a Medicare supplement plan is secondary to Medicare and of course,
supplements Medicare.
If you go to the doctor, and you have an expense that Medicare is not going to
pay, no Medicare supplement plan letter will come up and pay it.
It's a supplement to what's already being paid.
With Plan N, you will have to pay what is called the annual Part B deductible.
And what that means, it's a certain amount of money that somebody must pay
before the insurance company kicks in and starts paying.
This Part B deductible is put out by Medicare, and on a couple different
plans, you're required to pay it.
With Plan N, you must pay the deductible first before Medicare begins paying the
80% and the Plan N begins paying the 20% of all your medical bills.
Now you might be saying, "Hey, get me back to that Plan F, that 100% thing you
were talking about, that sounded pretty good."
That's not available anymore, except for the people who have a Plan F, and I
covered that earlier.
So it's pretty typical to pay this Part B deductible.
Plan G, you have to pay the deductible.
And then there are no more costs throughout the year.
With Plan N, you pay the deductible.
And you might have a couple additional expenses.
Now you might be saying, "Well, hey, Plan F's out of the question,
give me that plan G, I just want the one deductible.
Sure, you could do that. And it is most popular plan.
I just like to give options.
And there are a number of situations that people get into, or are into that
Plan N works a lot better.
So in exchange for those other cost sharing options, or other expenses you
might have on Plan N versus say, something like Plan G, you get a much
lower premium.
Now, let me explain what some of those out of pocket expenses could be.
So on Plan N, you pay the Part B deductible like we mentioned.
After that, if you go back to the doctor that year, you might have a small
co-pay.
It will never be more than $20.
It could be less than 20, or it could be zero co-pay.
It just depends on how they code the visit.
Meaning, whatever you went there for.
So that's the co-pay after you meet the deductible, it could occur.
Now, if you're in a situation where you go to the doctor frequently,
and that's going to continue, you feel it's going to continue,
then you might be saying, "Well, gee, those co-pays would rack up on me."
Sure, then come on over to my Plan G video or better yet, just give us a call
at 888-891-0229.
And then we'll talk about Plan G for you.
We can still discuss Plan N and do the math on that, but I'll get to the math a
little bit later.
With Plan N, however, it's a great option for people who maybe don't go to
the doctor that often, but they know they need coverage.
They know they're not invincible.
Because I have people who never go to th doctor.
I have clients who never go to the doctor, but they love Plan N
because they get to take advantage of those lower premiums every month.
So there are a couple of other out of pocket expenses that could come up with
Plan N.
One of them is, if you visit the emergency room on Plan N and you're not
admitted, you'd have to pay a $50 co-pay, which they will bill you for.
So what that means is, don't go to the emergency room if you've got
the sniffles or something small.
Go if you have to or if you feel like you're having an emergency, of course.
However, they just put that in place as sort of a pain point to tell people,
"Look, you can come on in anytime you like, we've got you covered.
However, if you're not admitted, it'll just be an added expense.
But for that added expense, we'll give you a lower premium on Plan N."
One of the thing that's not covered on Plan N is what's called Part B Excess
Charges. These are extremely rare.
What that means is if the doctor does not take the assigned rates from
Medicare, meaning they charge what Medicare tells them to,
they can charge up to 15% extra.
Now, they have to do this for the entire practice.
So, you're going to know if your doctor
takes what's called the assignment or not.
Let me tell you, if you ask your doctor, there's a 97% chance they're going
to say yes, because almost every doctor takes the assigned rates.
If you find a rare instance where it's a doctor who does not. And they charge
the 15% extra, let's say it's a specialist, you have to pay a percentage
of a percentage. It's extremely low.
And I will tell you this, in 11 years, I've never had a client ever see a Part
B Excess Charge.
Now, regarding Part B Excess Charges, there are about eight or nine states
that they don't even charge them in.
So give us a call, and let us know where you live. And we'll discuss Plan N
and see if it's the best option for you.
Now, how the rates come into play when it comes to Plan G, Plan F, if you've
got it, of course, and you're coming down, versus Plan N.
And again, I mentioned those rates are significantly lower.
Well, in some instances, it could be a little close between Plan G and Plan N.
Remember, Plan G, you pay one deductible, and that's it.
No more for the rest of the year.
And Plan N, you might have some additional co-pays, things like that.
So if the rates are close between the two, we can talk about that.
And we'll look up all the rates in about five minutes from the top carriers.
And we might want to lean toward Plan G.
It just depends.
However, I have seen significant differences, including today where it
was over a $30 difference in premium.
And a couple of the people I wrote on the Plan N today, who we got signed up,
are extremely healthy. So they love the savings of 30 bucks a month.
They didn't want to have to pay the extra on the premiums for a Plan G.
Plan N Medicare offer them those savings of a lower premiums.
However, if something happened, God forbid, they had to go to the hospital,
they knew they had awesome coverage.
So back to those insurance carriers that do cover Plan N Medicare.
Don't forget, they've all got the same Plan N.
We can shop the rates in about five minutes.
And you don't pay us a dime for our service.
But our clients love it over the last 11 years.
I have clients from back 11 years ago still with us today.
And we have moved them a couple times to save them money on their Medicare
Supplement Insurance.
So, give us a call right now, and we can help you find the best Medicare
supplement plan.
Give us a call at 1888-891-0229.
I'm Russell Noga with Medisupps.com.
Thanks for watching.
We look forward to speaking with you soon.