This Rate Watch Wednesday is focused on Medicare Supplement Plan G, for a male and female, ages 65 thru 75 in Mobile, Alabama (zip code 36525). As I have said before, Medicare Supplement plans are all Federally regulated by the government. There is no reason for anyone to pay more for their Medicare Supplement Plan G with one carrier over another because the letter of the plan dictates the coverage, not the carrier. You are not getting any additional benefits by paying more. That’s why it is important to shop your Medicare Supplement coverage every year, and we can help you with that.

You may ask, “Why do these companies charge different prices if they are all the same?” That’s a great question. Carriers have different administrative costs and they have different profit goals. There’s tons of different reasons why these big companies charge different prices. What you need to know is, just like in your Medicare book, Medicare Supplement Plan G is the same with every carrier.

When you have a Medicare Supplement Plan G, you pay the monthly premium and the only out-of-pocket expense you have is Medicare’s Part B annual deductible ($183.00 for 2018). Once you’ve met this deductible, the Medicare Supplement Plan G pays all of your medical bills. This deductible can be paid in one of two ways, all at once or over time throughout the year. Some examples of how you could pay the deductible are as follows:

You go to your doctor’s office and have a regular check up or physical. The doctor charges you $40 for that visit and you pay it. You would have paid $40 of your annual deductible so now your remaining deductible is $143. You can continue to pay it this way for the remainder of the year until the deductible is satisfied.

You need to have an x-ray done on your shoulder. The average cost of an x-ray can range from $260-$460. Let’s say the cost was $300, you would only pay $183 and the Medicare Supplement Plan G would pay the remaining balance of $117.

Medicare Part C is also known as a Medicare Advantage Plan, which is not a Medicare Supplement. It is a private alternative to Medicare. If you have a Medicare Advantage Plan, your Medicare Part B premium will go to the carrier that you have your plan with instead of Medicare and this is why there are very low or zero premium plans. As far as coverage, the Medicare Advantage does not work like a Medicare Supplement. It does not cover the 20% that Medicare does not cover. Medicare Advantage Plans replace what Medicare Parts A and B would charge with their own set of co-pays, deductibles and co-insurance.

Because Medicare Advantage Plans replace your Medicare, you can no longer go to any doctor or hospital that you choose. Most Medicare Advantage Plans (HMO plans) have a network of doctors and hospitals that you must choose from, however some plans such as PPO plans will allow you to choose any doctor or hospital that you want but you will have to pay more for their services.

This Rate Watch Wednesday is focused on Medicare Supplement Plan G, for a male and female, ages 65 thru 75 in Birmingham, Alabama (zip code 35005). As I have said before, Medicare Supplement plans are all Federally regulated by the government. There is no reason for anyone to pay more for their Medicare Supplement Plan G with one carrier over another because the letter of the plan dictates the coverage, not the carrier. You are not getting any additional benefits by paying more. That’s why it is important to shop your Medicare Supplement coverage every year, and we can help you with that.

You may ask, “Why do these companies charge different prices if they are all the same?” That’s a great question. Carriers have different administrative costs and they have different profit goals. There’s tons of different reasons why these big companies charge different prices. What you need to know is, just like in your Medicare book, Medicare Supplement Plan G is the same with every carrier.

There are three main reasons why the Medicare Supplement Plan G is a greater value than the Medicare Supplement Plan F.

1. Simple math. Plan F costs $300-$800 more per year in premium than Plan G, so why pay plan F more when the only difference in benefits is that Plan G has a small $183 deductible?

2. Plan F is the guaranteed issue plan which means that, in certain situations a person can purchase a Plan F if they are unhealthy. Whereas, you must medically qualify for the Plan G after you turn 65. No exceptions.

3. Plan F is being discontinued. No one that turns 65 after 01/01/2020 will be able to purchase the Plan F. This will cause the Plan F premiums to increase quickly and the Plan G premiums to remain more stable because there will be fewer people in Plan F over time and the Plan G will continue to accept people.

Enrolling your Medicare Part B depends on if you’re drawing your social security benefit. If you’re drawing your social security benefit you’ll automatically be enrolled in Medicare Part B. If you’re not drawing your social security benefit then you can register for Medicare Part B in one of three ways:

1. You can register online through social security’s website.

2. You can call social security and register over the phone.

3. You can go into your local social security office and register in person.

Medicare Part B covers all of your doctor and medical bills. For example: lab work, x-rays, outpatient procedures, CT scans, MRI’s, specialist visits, physical therapy etc. It also covers outpatient medications that are administered in a doctor’s office such as Humira injections or chemotherapy medications. Medicare Part B will also cover ambulance rides should you need one. Key tip: make sure you can not walk to the ambulance. Medicare may not cover the cost if you walk to the ambulance.

This Rate Watch Wednesday is focused on Medicare Supplement Plan G, for a male and female, ages 65 and 70 in Columbus, Georgia (zip code 31801). As I have said before, Medicare Supplement plans are all Federally regulated by the government. There is no reason for anyone to pay more for their Medicare Supplement Plan G with one carrier over another because the letter of the plan dictates the coverage, not the carrier. You are not getting any additional benefits by paying more. That’s why it is important to shop your Medicare Supplement coverage every year, and we can help you with that.

You may ask, “Why do these companies charge different prices if they are all the same?” That’s a great question. Carriers have different administrative costs and they have different profit goals. There’s tons of different reasons why these big companies charge different prices. What you need to know is, just like in your Medicare book, Medicare Supplement Plan G is the same with every carrier.

Starting in January 2019, Medicare is going to have a new open enrollment period that runs from January 1st to March 31st. Medicare offered this open enrollment a few years ago but decided to end it and came out with MADP period which is the Medicare Advantage Disenrollment Period. The MADP was designed for people who chose an Advantage Plan during Annual election period and realized they didn’t like it. They were given six weeks to upgrade back to a Medicare Supplement plan. So many people have complained that that time period in not long enough so Medicare is getting rid of the MADP and they’re bringing back the open enrollment period from January 1st to March 31st.

What this means is if you have a Medicare Advantage Plan, you can actually go back to Medicare and get a Medicare Supplement plan and you do not have to wait until the Annual Election Period in October. It also allows you go from one Medicare Advantage Plan to another without having to wait until October.

Enrolling in Medicare Part A depends on if you’re drawing your social security income. If you are drawing your social security income then you will be automatically enrolled in Medicare Part A. If you are not drawing your social security income; you can register for Medicare Part A in 3 ways:

1. Call the Social Security Office

2. Go to their website

3. Go to your local Social Security Office

Medicare Part A is your “room and board” or Hospital coverage because, for the most part, Medicare Part A is going to cover you while you’re in the hospital and it’s going to cover your room and board charges. If you are hospitalized and it’s an inpatient stay, you’re going to use your Medicare Part A benefit. Medicare Part A does not pay for all of your medical bills while you are in the hospital. Part A comes with a $1,340.00 deductible for 2018. You will have to pay the first $1,340.00. That will cover you for 60 days; after that you will have a per day charge while you’re in the hospital.

This Rate Watch Wednesday is focused on Medicare Supplement Plan G, for a male and female, ages 65 and 70 in Atlanta, Georgia (zip code 30305). As I have said before, Medicare Supplement plans are all Federally regulated by the government. There is no reason for anyone to pay more for their Medicare Supplement Plan G with one carrier over another because the letter of the plan dictates the coverage, not the carrier. You are not getting any additional benefits by paying more. That’s why it is important to shop your Medicare Supplement coverage every year, and we can help you with that.

You may ask, “Why do these companies charge different prices if they are all the same?” That’s a great question. Carriers have different administrative costs and they have different profit goals. There’s tons of different reasons why these big companies charge different prices. What you need to know is, just like in your Medicare book, Medicare Supplement Plan G is the same with every carrier.