If you are shopping for Medicare Supplement Insurance, well, you came to
the right place.
My name is Russell Noga. I'm the owner of Medisupps.com.
Today, I'm going to cover in this video, the Medicare Supplement Plans comparison
chart.
Now, this chart is put out every year.
There aren't any changes coming up for 2021.
However, I'm going to teach you how to read the chart, show you the differences
in the most popular plans for 2021.
And we can help decide what coverage is best for you.
So we'll go ahead and do a Medicare Supplement comparison in a moment. and
I'll pull up the chart.
Now, what you're going to see are 10 different Medigap plans put out by
Medicare.
You probably read about them all. And you said, "Oh my gosh, how the heck am I
going to choose through 10?"
Well, you don't have to. That's the good news.
Because there really are just a few that most people go with.
In fact, the other plans, some of the what I call the oddball plan letters,
offer less coverage.
Sometimes far less, and they're almost the same price as some of the most
popular plans.
And unpopular plan equals higher premiums.
So we're going to look at the most popular plans, which are Plan G. Plan N,
and if you still have a Medicare Supplement Plan F.
Now, what I mean by that is, on January 1 of 2020, Medicare eliminated that plan
from the lineup after being the most popular plan for years and years.
And that's for anybody new coming on a Medicare on January 1 of 2020 or beyond.
Obviously, if you've got a Plan F, you know you are able to keep it.
But is that such a good thing?
Well, absolutely not.
Because you've got Plan G and Plan N with lower rate increases, lower
premiums, but still great coverage.
So now I'll go ahead and pull up the chart.
I'll give you a snapshot, teach you how to read it, and you too can see the
benefits of the most popular plans, especially for 2021.
So here we are with our Medicare Supplement Plans comparison chart.
And as I mentioned, nothing new has really changed for 2021.
Back in 2020, Plan F went away for new people coming into Medicare, as I also
mentioned.
However, you'll still see it on the chart, because those people were allowed
to keep the plan.
In fact, anybody enrolled prior to 2020 can actually enroll in a Plan F even if
they had a plan G or something lower.
I highly recommend not doing this; you'd be going the wrong way.
In fact, if you got a Plan F, give me a call, we can shop the rates.
Even if you're dying to keep Plan F, we could shop rates for a different Plan F
with a different company, and most likely save you on your premiums.
But I would highly encourage you to look at Plan G.
You'll save a ton of money, have lower rate increases, and overall just be in a
much better spot.
Plan F gives you almost no benefit for a lot of extra premiums you have to pay.
Now, as you can see across the top of this plan, we've got the 10 Medicare
plans, Medicare Supplement Plans offered by Medicare.
And Plan A, B, C and D.
Maybe plan D in a couple parts of the country, but the other ones, we're not
going to talk about today.
We're going to talk about the most popular plans that you're going to be
looking at, which is Plan G and Plan N for new folks.
And we'll start with Plan F because, well, was already talking about it, and
it just is the easiest one to explain.
As you can see right here, we've got Plan F, and just write down on the board
a 100% coverage of everything.
In other words, you've got a Plan F, you pay your monthly premium.
You go to the doctor, you show your cards, and you walk out and you never
see a bill on all Medicare approved expenses.
Pretty sweet coverage.
Way too high of a premium for only one additional small benefit you get over
Plan G.
And I'll discuss that in a moment.
Down the bottom, you'll see 80% on foreign travel.
Now, that is for emergencies only. And as you can see, Plan F, Plan G and Plan
N all offer that.
Again, the most popular plans.
Of course, Plan M, which I've never written in my entire life. That's not
even really a good option.
But they've all got this foreign travel emergency benefit.
I would say this. it's got to be an emergency. folks.
I've had many clients try to use this when they just got sick, or tried to...
They thought it in emergency, the insurance insurance carriers are
sticklers on this, it does have to be an emergency for foreign travel.
But back to Plan F, again, 100% coverage all the way down on the board.
Let's go over to Plan G now.
It's almost identical to Plan F, except for this little white box you see here,
where that's not covered.
You see ,it's got 100% down the board, but it stops there.
And we'll go over to the left because this column is the benefits.
And these are the amounts that each plan pays.
Well, it's just the Part B deductible. You have to pay that yourself on Plan G.
Now, for 2020, this deductible is $198.
If you have a Plan G, you pay the first $198 of your medical bills.
After that, for the rest of that calendar year, you get all of this 100%
coverage.
So it's just like a Plan F, except you pay the deductible yourself.
You might be saying, "Well, gee, Plan F paid it for me, that $198."
Yes, it did, but those people are probably paying 300, 400 or 500 extra
dollars for Plan F to pay it for them.
There's no great benefit there. In fact, you're losing money.
You could take 300 extra dollars a year and stick it in your pocket, write a
check, which will take you all of five minutes and have a Plan G.
I'm a big proponent of this obviously, because I think every dollar counts.
Now, if you've got a Plan F and you don't care, you just never want to see a
medical bill and you can afford it.
Go for it, by all means, I do respect that luxury of never having to fiddle
with that.
If that's important to you, then pay the extra money.
However, most of my clients, most people I talk to, every dollar counts.
In this case, Plan G all the way if you've got a Plan F and you're trying to
save money.
The other most popular Medicare Supplement Plan, and this is a great
option, is Plan N.
As you can see, Plan N has got 100% coverage down the board, but then it's
got two white boxes.
One of them is that deductible, so just like Plan G, you pay that Part B
deductible on Plan N.
The other one is called Part B Excess Charges.
This is extremely rare, you probably will never see this.
It could happen. I've got to say that.
However, what Part B Excess Charges are, if doctors accept the assigned rates for
Medicare, meaning they just charge what Medicare tells them.
And they have to do this for the entire practice; it's not on a case by case
basis.
They do it for their entire practice and doctors except these assigned rates,
then they're not allowed to even charge excess charges, they don't.
And it's estimated that about 97% of doctors in this country do that.
They accept the assigned rates, they don't even charge excess charges.
If you do go to a doctor, a specialist who does not do that, and they want to
charge extra, well, they have the right to do that.
They'll get charged a little penalty for doing that. But they could charge 15%
higher of what Medicare approved.
On Plan N, if you visit a doctor, the small percentage of the doctors that do
that, you'll have to pay a percentage of that percentage, which would be very
low, most likely in every case.
I've been doing this for over a decade now as one of the first people on the
internet to ever sell Medicare Supplement Insurance.
None of my clients have ever told me they've gotten an excess charge.
I'm sure they're out there. People are out there that have.
However, it's extremely rare.
There's one other thing though on Plan N if you do decide to go with it.
Plan N, you pay that Part B deductible, like I mentioned.
After that, though, if you go to the doctor throughout the year, you might
have a small co-pay for a doctor's visit.
It will never be more than $20.
And it's not on this chart. I wish they did at least put it on there.
Because I get a lot of people will say, "Well, that looks great. The premiums
look low, because I got rates on your website, Medisupps.com..."
Because by the way, I'm one of the few sites that actually shows you rates out
there. I'll get to that a little later.
And they don't see this... They see this chart and they don't see the $20 co-pay.
Well, it could come up.
Now, here's how this works.
You pay your deductible, the Part B deductible.
And let's say you go back to the doctor once or twice, you might get a co-pay
per doctor's visit.
If you do, it will never be more than $20.
However, it could be no co-pay, or it could be 6 or 9 dollars, or some weird
amount, but never more than 20 per doctor's visit.
Now, this Part B deductible is a calendar year deductible, it means you
pay it once and for the rest of the year, it's already met.
It does reset every January, though.
So those are the most popular plans and the plans comparison chart, and how to
read that.
Now, this might as well be considered the Medicare Supplement Plans comparison
chart for 2021, because nothing's going to change.
It's the same as it was last year.
There are no major changes, really any changes to Medicare Supplement Plans for
2021.
That's a good thing. It makes it nice and easy.
If you're new to Medicare, maybe turning 65, or maybe you worked a couple extra
years and now you're just retiring and coming on to Part B Medicare.
Of course, you've got an open enrollment period.
This means you can enroll on any one of these plans with any company.
We can help you apply, and there are no medical questions.
You just sign on the dotted line and your coverage is guaranteed.
For those of you who have a Medicare Supplement Plan already, and maybe
you're looking at 2021 plans to see if anything's changed.
Well, by all means, and regardless of what time of year you're watching this,
give us a call because we shop the rates from all the top carriers.
We're an independent agency.
We never charge a dime for our services, it's all entirely free.
We simply get paid by whatever insurance company we set you up with.
However, the benefit to you is we watch the rates now for you. We shop them all.
And then every year when you get a rate increase, because you absolutely will
get a rate increase from just about every carrier and every plan.
So we do that work for you. You don't have to go back to the internet.
Now, speaking of the internet and getting quotes and rates, if you visit
Medisupps.com, my website, I actually show you the rates
Why do I do this?
People say, "Russell, won't people just see the rate and call the insurance
company direct?"
Sure, some people do that, but most people give us call because they know
we'll be watching out for them.
And I'm not allowed to display every single company on my website, we
probably have other options.
But here's the thing if you go direct to an insurance carrier.
You go to company XYZ and say, "Hi, like your rate for Plan G," and they'll say,
"Okay, it's this much per month."
You say, "Okay, great. What are the other companies charging?" and they're
gonna say, "We don't know, ours is this much. Would you like to sign up?"
They're not going to give you the rates from the other companies, they don't
want you knowing.
And when you get a rate increase from that company, which you absolutely will
each year, they're just going to want you to continue.
They're not going to say, "Listen, we shopped the rates for you. There's a
better rate with that other company, we suggest you go there."
See, we're independent, you pay the same if you go direct or you allow us to
help.
However, we're going to tell you that stuff.
We're going to keep you in the best spot.
It's win-win all the way.
Having been in this business over a decade, helping over 10,000 people with
their supplement insurance.
Believe me, this is the way to do it. It's the only way, the only logical way
to shop for Medicare Supplement Insurance.
So, that being said, now you know how to read a Medicare Supplement Plan
comparison chart.
Pretty easy, right?
Just give us a call today, we can shop those rates for you, get you in the best
spot now and for years to come on your Medicare Supplement Insurance.
Our phone number is 1-888-891-0229.
And like I mentioned, feel free to visit Medisupps.com.
Go ahead, and rates will display like I mentioned in almost every state.
So, a couple of states where our quoting engine just doesn't spit them out.
In that case, give us a call.
I'm not trying to steer you wrong. I do the best I can.
And I'm probably one of the few people, if not the only one, who actually
displays rates on his website when you do go out.
So again, my name is Russell Noga with Medisupps.com.
Give us a call today. We look forward to speaking with you soon.
Thanks for letting me help out.