When it comes to Medicare supplement plans, there really are just a few
options that most people go with.
However, one of those options is becoming increasingly popular.
And for good reason.
Stick around, and I'm going to talk about Medicare Plan N, and why you mi
ht want to consider
So not a day goes by when somebody doesn't ask me, "Russell, could you tell
me the differences between Medicare Plan G versus Plan N?"
And I always love to. In fact, even if they don't bring it up, I tell them
the differences, because everybody has a different situation.
When it comes to Medicare plans, alt ough they're very close in coverage,
there are a few differences between Plan G and Plan N that you want to consider
because it could be worth it to you for great savings.
Not only in the premium, but in future rate increases.
So before I cover the details in the premiums of plan and how that works,
including those rate increases.
I really want to break down the details and the benefits of Plan N.
Plan G is very easy to explain. Of course, both of these plans help
supplement and pay for the gaps, which are expenses, in Medicare Part A and B
that Medicare doesn't cover.
So in other words, deductibles, co-pays co-insurance.
With Plan G, that's a piece of cake to explain. "Hey, you've got Plan G,
you've got one deductible. It's the Medicare Part B deductible.
Once you meet that for the rest of the calendar year,
you get 100% coverage.
Plan N is close to that and it has that same deductible you need to pay,
but there are a couple other options or out of pocket expenses that you might
incur on Plan N.
Now, because of those, they will give you a lower premium on Plan N,
which is great.
For healthy people, people who don't go to the doctor a lot,
but they know they need the best coverage and they don't want
a Medicare Advantage plan, they want the flexibility of having no network,
Plan N is an outstanding cho
So let's get right into it; Medicare Plan N, what you will be required to
ay and what it covers.
Here we go.
With Plan N, you will still need to pay the Medicare Part B deductible.
That deductible is once per calendar year.
So you pay the deductible, let's say in early January, for example,
you're paid for the rest of the year on that deductible.
With Plan G, there's no other costs, you pay that deductible when you're done.
However, with Medicare Plan N, you might have some additional out of pocket
costs.
Some of those include a possible co-pay per doctor's visit, each time you go
to the doctor for the remainder of the year, after you pay that Part B
deductible.
Now, this co-pay will never be more than $20 per doctor's visit.
That also includes a specialist visit.
However, it could be no co-pay, or it could be from zero to $20,
somewhere in between.
It just depends on what you go for and how they code your office visit.
So you could have that copay; never more than 20 per doctor's visit on Plan N
after you meet the Part B deductible.
So let's just stop for a moment.
And for you folks who maybe visit the doctor quite a bit, you might be saying,
"Well, gee, every doctor visit, I have a $20 co-pay, that could really add up."
Maybe you've got a medical condition that you do visit the doctor often to
get checked up.
Definitely good to take that into consideration, we might want to look at
Plan G at that point.
We need to look at the math though. Check the premiums between the two.
Because if you just go to the doctor, say a couple times a year, then Plan N
definitely becomes a better option than if you go more frequently.
Now, nobody's got a crystal ball, go to the doctor if you have to.
Quite honestly, even if you went once a month, $20 co-pay, the lower premiums of
Plan N could be worth it.
And again, we have to check the rates for you to see if that is.
And we do that very easily.
If you just give us a call at 1-888-891-0229.
We can do that today for you.
But let's talk a little bit more about the differences of the two
and more specifically, what else you could incur on a Plan N.
Now, on the flip side, if you're somebody who doesn't go to the doctor
very often...I have clients who never go to the doctor, they love Plan N,
because they pay low premiums. We watch the rates every year. They have lower
rate increases on Plan than Plan G, and I'll tell you why a little later.
So they absolutely love it. They know if something happens to them, they've got
outstanding coverage, but their out of pocket expenses are going to be minimal,
even on a Plan N.
Even if you go into the hospital or the doctor's office for major medical
conditions, relatively speaking, especially against something like
Obamacare or something like that.
So they love Plan N because they don't go to the doctor very often, but they
know they are protected very, very well, God forbid something major happens.
Now, one of the thing that could happen on plan in and out of pocket expense is
something called Part B Excess Charges.
They're extremely rare. I've never had a client in 11 years ever seen
excess charge, at least that they told me about, or had to pay.
And my clients are pretty good at telling me things like that.
So with the Part B Excess Charge, here's how that works.
If doctors accept the assigned rates for Medicare, which is estimated that over
97% of them do in this country, then you'll never see a Part B Excess Charge
because they don't charge them.
Those are good odds. That's most doctors.
If a doctor does in fact, choose to not accept assignment of Medicare's rates,
they can charge up to 15% extra of the assign rate.
Again, extremely rare, you would have to pay a small percentage or a percentage
of that percentage, which would equal not a lot.
Now, I don't want to say it could never happen, but it's incredibly rare.
And don't forget, even if you do get a Part B Excess Charge, you have to pay
a portion of it, you've saved all that money on your Plan N premiums over
Plan G. So it could be minimal.
But that is one other thing that could come up with a Medicare Plan
Now, let's discuss a little bit about the premiums and the differences again.
We'll dig in.
Because I've been talking a lot about how Plan N has those lower premiums t
an Plan G.
I'm going to give you some real world examples, live examples, show you the
quotes from a couple different companies, so you can see exactly the
differences between the two.
Okay, so here we are, we've got the rates pulled up on our quoting system
that we use for all of our clients to check all of the premiums from the top
companies.
We're going to start with a quote here in Texas, Houston to be exact, for a 65
year old male, no tobacco use for Plan N. Figured we'd start with Plan N first.
The premium for Plan N with Philadelphia American, who is a Houston-based
company actually, and they're fantastic. I love writing them.
My clients love them as well. Nice low rate increases.
$104.76 a month out there.
Now, let's go ahead and switch to Plan G
Remember that number, $104 with a Plan G.
Let's take a look.
Survey says...
I forgot what game show that's from.
Comment down below if you can remember the game show. I can't remember it.
I just remember that.
Oh, Family Feud. Here we go; $133 a month, same company, for Plan G.
Remember the differences.
Watch the video again, ask questions down below. Don't type Family Feud,
I already said what the answer was.
So you've got a difference of approximately $29.50 a month.
So you can go to the doctor once a month and have a Plan N in this example.
And even if you got the max co-pay, and that's a lot of visits throughout
the year, plus the max co-pay, you'd still end up making money with Plan N.
Now this example again, is for the zip code we mail direct.
Let us find the example in your area and then we could talk about it.
Maybe it's a lot smaller. Maybe Plan G will be a better option for you or for
all
those scenarios I talked about earlier, but let's talk about it, let us help.
And we'll do the math just like I did here, for everybody out there who wants
to see what the differences will be, and to see which plan is better for you.
So we've seen the differences in premiums now between Plan N and Plan G,
as well as I've covered the differences in the benefits of the two.
And maybe you've got a good idea of which one might fit your needs best, but
you don't know the rates.
Well, the easiest way to get those as well as sign up for a plan is to give us
a call now, at 1-888-891-0229.
We are an independent agency, don't forget, you don't pay any extra for
using us. But we shop all of the top companies.
Somebody I talked to earlier today actually went direct to a company,
and nobody had told them that there were better rates with another company
until they got a hold of me.
And we ended up saving them an additional $20 on their premium.
So just let us help out.
We're happy to do that, answer any questions you might have and make sure
that you're taking care of now,
as well as years to come when the rate increases start.
I'm Russell Noga with Medisupps.com.
We look forward to speaking with you soon about Medicare Plan N or Plan G,
and if you've got a Plan F now, let's talk about how we can save you money
on that as well.
Thanks for watching, and we look forward to seeing you.