Personal Finance (Not Investing) • Medigap Plans and major expense

Both Plan N and Plan G-HD might be better options than Plan G.

It is all just a question of monthly premium (which will vary by zip code, sex, age, pricing methodology used by the insurer, etc.) vs out-of-pocket costs.

With Plan N, you have to pay a copay of up to $20 for doctor office visits. Many report that the copays can be less than $20 (they are actually 20% of the Medicare-approved rate) and sometimes they are not even billed the copay at all. There can also be a 15% Excess Charge from doctors with Plan N, but that is very uncommon.

Looking at Plan G-HD, the $2,800 Plan G-HD “deductible” is not really a deductible, but a maximum out-of-pocket, as Medicare will be covering 80% of Part B costs and you will just be paying 20%.

So, for this year, with a Plan G-HD:

$240 Part B deductible,

then 20% copay at the low Medicare-approved rates

With $2,800 maximum out-of-pocket

The only kicker is that if you are admitted to a hospital as an inpatient, there is a $1,632 Part A deductible (which counts toward the $2,800 Plan deductible)

I pay $45 a month (attained age pricing) and have been saving $1,500 a year vs Plan G.

Bloodwork 100% covered, vaccinations 100% covered, colonoscopy 100% covered (as long as no polyps are found).

It’s not so easy to run up a big bill when you are only paying about $25 for a doctor office visit (20% of the $125 Medicare-approved amount).

If healthy when joining, Plan G-HD is a great plan. Agents hate it because of its low commission.

Statistics: Posted by ModifiedDuration — Wed Aug 28, 2024 7:54 pm — Replies 5 — Views 245

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