Well, the Medicare open enrollment period is here
We're going to be discussing Medicare supplement plans for next year
and why you might want to consider changing plans for 2022.
Stick around.
My name is Russell Noga with Medisupps.com.
And along with my top two agents, Diana and Teresa,
we have been helping people with their Medicare insurance for,
wow! 13 years now.
So, once this video is completed, give us a call.
Phone number's down below.
And you can talk to Diana, Teresa or myself directly.
And we can answer all of your questions and get you in the best spot with your
Medicare insurance.
So, chances are if you're watching this video right now, you fall into one of
three different categories.
The first one being maybe you're new to Medicare.
Either you're turning 65, or perhaps you are coming off your group employer plan
and just coming on to Medicare for the first time and coming on to a Medicare
Supplement Plan.
The other situation could be that you already have a Medigap Plan and you're
shopping for a better rate or perhaps want to change plans.
And then there are those of you who have a Medicare Advantage plan.
Of course, now we're at that time of year where you can disenroll from your
Advantage Plan, come back to original Medicare,
a Medicare Supplement Plan and a part D drug plan.
Good news is, regardless of your situation, this video is going to help
you understand what the best options are.
So for the people in that first category who are new to Medicare,
I'll just briefly explain what Medicare supplement plans do.
Medicare itself called Original Medicare has Part A and Part B.
There's also a Part D prescription drug plan.
Well, Medicare Part A covers hospitalization and Medicare Part B
covers your doctor services.
So they work together and hopefully, you stay away from part A.
And you just use Part B for your outpatient doctor services.
Well, Part A and Part B have what are called gaps in them,
which are simply expenses that you're required to pay.
They don't cover everything.
And these are things like copays, deductibles, and coinsurance.
But a Medicare Supplement Plan also called Medigap,
which you've probably heard of,
helps pay some or most of those gaps for you.
So you don't have to.
I will tell you this, Medicare supplement plans are standardized by the
government.
That simply means the government requires regardless of which insurance
carrier offers those plans, they have to have identical coverage.
Now those plans are lettered as well.
We'll keep away from the parts of Medicare, so don't confuse you here.
But Medicare supplement plans are lettered A through N.
There really are just a few different plans that most people enroll in.
And that's because they have outstanding coverage and lower premiums than the
other plans.
So one of the most important things you need to remember with this coverage is
while all the plans are standardized, and each company has the same coverage,
they all charge different rates for it.
And for you to shop and do this on your own,
you would have to call every single carrier to get their rate every year.
Because you're going to get a rate increase every year.
You want to shop your plan each year, make sure you're not overpaying.
Well, in making all those calls, you'll get a salesperson from each company
who only has one thing to sell you, their product.
And they are going to try and sell you on that call,
when all you want is just to get the rates and compare them.
Well, we do that for you.
There's never charged for our services.
We're an independent broker.
And each year, we help you with the Part D drug plan
as well as shop those rates to make sure you're always paying the least amount
possible.
Now, the beauty of Medicare supplement plans is you get to choose your doctor.
You can visit any doctor, specialist or hospital anywhere in the country.
As long as they take Medicare, there's no network.
That's a big deal.
It's unlike those Medicare Advantage plans that you're probably seeing
commercials for on TV night and day.
Well, last I checked, commercials are very expensive to run,
they're clearly making a lot of money on those plans.
With a Medicare Supplement Plan, you don't have to worry about any network.
If Medicare pays first, the Supplement Plan has to pick up the difference.
With an Advantage Plan, then by law, they're just required to provide as good
a coverage as what Part A and B covers.
Now, they could cover more, but you might need prior authorization to get
some services done.
That doesn't happen with a Medicare Supplement Plan.
Well, this is about the part of the video where you start asking:
"Hmm, that's great and al, Russell, I understand it.
What plan do I enroll in?"
Well, that depends on you.
I'm going to cover the differences of each plan.
And that will help you decide.
Because all that matters is your own situation.
And there are really just a couple different options
that most people enroll in.
Those are what are called Medicare Plan G, Medicare Plan N,
high deductible Plan G.
And then I know there's some of you out there who still have a Plan F.
Now, Medicare Plan F is not available to anybody new to Medicare anymore.
If you had Medicare Part F prior to January 1 of 2020,
You probably enrolled in a Plan F or you may have had that
and you still are eligible for that if that is you and you're just coming on
Medicare Part B.
But a Plan F is becoming very expensive, higher rates,
as well as some higher rate increases we're seeing.
And Medicare Plan G is a better option for most people
in almost every situation.
So let's begin with Plan G because it is one of the best options for a lot of
people, particularly if you're coming off Plan F.
Remember, Medigap plans help pay the gaps or most of the gaps in Part A and
Part B Medicare.
Well, with Plan G, it's very easy to explain because there's only one gap yo
need to pay
That is called the annual Part B deductible.
What this means is prior to Medicare paying 80% of your medical bills,
somebody has to pay the Part B deductible.
Now, for the folks on Plan F, that's paid for them.
Except they're really paying higher premiums to have it paid for them.
You're better off on a plan G, where you pay the deductible yourself.
Now in 2021, that deductible is $203.
And again, that's just once per year.
The first $203 of your medical bills, you pay.
After that, Medicare will come in, pay 80% of your medical bills
and Plan G will come in and pay the remaining 20%.
In 2022, that deductible is probably going to be around $208 to $210
Again, once per year, it's an annual deductible.
Once it's met, it's paid for the year, then Medicare will come in pay 80%.
Plan G will pay the additional 20%, as well as everything else.
So with Plan G, you pay one small deductible.
After that, you get 100% coverage for the rest of the calendar year.
Now, if Plan G sounds like the right plan for you, you could call us now and
we'll shop the rates for you.
Or you can always just visit my website Medisupps.com,
where I'm one of the few people out there who actually show you the rates
from the top companies, and there's no obligation.
But you get to see the rates in your area to see how much that will be.
Moving on, though, we've got another great plan rising in popularity,
and one that I recommend to a lot of people.
And that's Medicare plan N.
Medicare plan N is rising in popularity for a couple of reasons.
The big one being that it's lower cost than Plan G.
The premiums are lower each month.
As well, remember I told you about those rate increases you're going to get every
year.
Well, Plan N has the lowest rate increases out of just about any plan.
And that is because with Plan N, you might have some additional out of pocket
costs over what you do with Plan G.
What are those costs?
Well, you still pay that annual Part B deductible
no matter which plan of that I'm discussing that you own.
Once that deductible is met, if you have a Plan N
if you visit the doctor again, you might have a small copay of up to $20.
Up to meaning it will never be more than 20 per visit.
So, you might say, "Well, gee, the other one paid everything."
Yeah, but hear me out here because Plan N
again, has the big savings and the lower rate increase.
Especially what we're seeing this year.
Moving into 2022, there's going to be a lot of people moving over to Plan N.
So in exchange for those lower premiums on Plan N over Plan G,
you'll have those additional out of pocket expenses, such as that $20 copay
per doctor visit.
Good news is now we've got telehealth visits all the time.
That copay doesn't apply to the telehealth visit.
Another copay though you might run into is if you visit the emergency room
and you've got a plan N and you're not admitted into the hospital,
it's a $50 copay.
If you visit an urgent care center, however, that copay doesn't apply,
which is great.
And there's only one other thing on Plan N that is so rare,
but I do have to mention it.
Because if I don't, that one case will come up
and say, "Russell, you never mentioned that on your video."
With Plan N, there are something called Part B excess charges,
that is with everything.
Plan G pays those for you, and they're very, very rare.
Only 1% estimated doctors in the entire country even charge these.
But what it means is that doctor doesn't accept the assigned rates from Medicare.
They'll still take Medicare, but they can charge up to 15% extra.
What that would mean for you is on a Plan N, you'd be required to pay that.
But considering approximately 99% of all doctors in this country don't even
charge those, good chance you're never going to run into that.
The average charge, even if you did, would be less than $20.
So that is no deal breaker by any means.
Medicare Plan N, with those lower premiums, as well as those low rate
increases.
Boy, what a great option for 2022?
In fact, we are suggesting that many, many people take a look at Plan N and
we'll check those rates for you to see how much you can save.
Whether you're on a Plan F or G or you're just new to Medicare,
Medicare Plan N might be the place for you.
Now last but not least, we will talk about the other Medigap Plan that a lot
of people will be enrolling in for 2022.
Not nearly as many as Plan G or Plan N, but that plan's high deductible Plan G.
Yes, there are two plan G's.
One being the one we discussed where you simply pay the Part B deductable
and they get 100% coverage.
Well, on a high deductible plan G, you still pay that deductible.
After that, though, Medicare will come in and pay 80% of your medical bills.
And you'll be required to continue to pay bills that a Supplement Plan
normally would.
Until you reach a certain amount, and then you'll get 100% coverage.
In 2021, that amount is $2,370.
And in 2022, probably closer to $2400.
So let me break it down again, to make it very simple.
With a high deductible Plan G, you first must pay the Part B deductible,
just like you do with all the other plans.
2021, that's $203.
It's going to go up slightly for 2022.
On a high deductible Plan G, after you pay that deductible, Medicare will start
paying 80% of your medical bills.
So it's not like you don't get any coverage.
However, you need to pay the remaining 20% and any other coinsurance or copays
that come up through Part A or Part B, up to around $2400 in 2022.
Once you meet that mark,
after that, Medicare and your high deductible Plan G will pay 100%.
Now why is this a good option?
Well, in many cases, most people don't want to fiddle with that many medical
bills, they rather go with a plan G or a Plan N and get more coverage.
However, for people who are healthy
or maybe I've got clients who never go to the doctor.
But they know they need something in place.
Those people say: "Russell, I don't want to spend a lot on my monthly premium."
In that case, a high deductible plan G is a good option for them.
Another thing is they say: "Well, I want dental coverage as well.
And I don't want to spend a lot on my monthly premium."
Well, for the cost of a high deductible plan G and a great dental plan,
that could be the same amount as a regular Plan G each month.
So there are a lot of different things to consider when shopping for Medicare
supplement plans, as you can see.
However, I hope this video made that a little bit easier now.
As I mentioned, you want to give us a call right now at 888-891-0229.
And either myself Diana or Teresa, you'll talk to one of us, can answer
your questions directly and help you through the process.
As well you can visit my website, Medisupps.com.
Again, you can get free online quotes for these plans and see which one meets
your needs the best.
My name is Russell Noga again, with Medisupps.com.
And we look forward to speaking with you soon.
Give us a call today.