Another informative video. I finally understand excess charges and the meaning of assignment. Three months ago my wife was in a serious auto accident and we found out why traditional Medicare plus a G plan supplement are a great combo. Emergency room, ICU, emergency surgery and 8 days in the hospital that the ambulance took her to (Wakemed in Raleigh NC). Bills were well over $100,000; our cost was ZERO (her deductibles were already satisfied). Not sure what a managed care plan would have done. Great hospital; great coverage. Thank you Hans and Cardinal.
My grandmother is turning 65 in oct. and she is confused about all this supplement nonsense. I've been trying to help her but I'm confused too. If they will allow seniors to get MA and go off Medicare then why won't they let them stay on Obamacare? That's what she has now and she wants to remain on it.
I'm in Texas (Dallas). I have a Plan N ... the premiums are lower than Plan G. Excess charges are actually quite rare and my doctor does not charge co-pays, so it was a no-brainer. In those high premium states, such as NY and FL, a high-deductible Plan G or F might actually be a better deal.
I love that you saw calling the plans A, B, C is confusing with the parts of Medicare. And then you use A-F for the insurers, whereas you could just use the name in the table.
mr Hans, than you for your videos, I learn a lot, I have one question, I have kaiser permante insurance through my work company, I am planning to retire in 2023, and I would like to stay with kaiser, what you suggest???thank you in advance
When you say you normally recommend Plan G, now that Plan F is no longer, and with the sickest people going on Plan G, isn’t it more likely that Plan G will have much higher future price increases than Plan N? If that takes place, you can’t change without medical underwriting.
It’s certainly a possibility that a disproportionate # of people in poor health end up on G causing higher rate increases in the future. If you believe that’s going to happen, I say buy a Plan N.
Hi Hans. Great stuff. I’m getting ready to go on Medicare. I haven’t heard you talk about how you rate Supplemental Insurance providing companies depending on their historical prices increases and customer service. I understand there are several factors to also consider other than pure price they quote you at this particular moment. Can you provide some insight here or in a future video? Thanks
Hi Rick. Future price increases are harder to predict than customer service is. Many of the companies you never heard of before reinsure their Medicare supplement business with the big companies, so the big companies are setting the rates now and in the future. So my thinking is, just start with Mutual of Omaha, Aetna, CIGNA, United Health. All 4 of them have great customer service and we serve as a buffer for you on that anyhow. United Health/AARP seems to have the best history on rate increases but the charge more to begin with in a lot of states. I hope this helps. If not, give me a call and I’ll help you pick. Thanks Hans
I live in Ohio where the part B excess charges are not allowed. Because of that fact, why is the more expensive plan G still offered in Ohio when it has the same coverage as the less expensive Plan N. It seems like all you would need is the less expensive plan N. Is there some other advantage to Plan G if you are living in Ohio?
The Plan N has a copay of $20 every time you go to the doctor. Also, you could see a specialist in another state who could levy excess Part B charges on you. Thanks Hans
YES YOU DID PUT UP THE PRICES BUT THE ? I HAVE WHICH IS MORE IMPORTANT I FEEL IS THE PRICE % INCREASE YEAR OVER YEAR. I WOULD LIKE TO SEE AT LEAST AN INSURANCE COMPANIES LAST 5 YRS. PREMIUMS. ARE THEY ERRATIC OR STABLE. hOW'S CUSTOMER SERVICE REPUTATION, HOW MANY YEARS HAVE THEY BEEN IN THE STATE? HOW LARGE IS THE GROUP IS IT ATTAINED AGE STATE??? OR ARE THESE ?'S NOT NECESSARY?
Hi Henry. What you ask for is very hard to do. These insurance companies introduce a new product with new rates every 2 to 3 years in each state. The new product is through a subsidiary company. The company with the most stable rate history is AARP/UnitedHealth across all 50 states. They charge more in the beginning. I represent most companies in all 50 states and make unbiased recommendations to my clients. Thanks Hans
Greetings Hans i bought your book and was moved about your Father and your life. Thanks Bill
Thank you!
Another informative video. I finally understand excess charges and the meaning of assignment. Three months ago my wife was in a serious auto accident and we found out why traditional Medicare plus a G plan supplement are a great combo. Emergency room, ICU, emergency surgery and 8 days in the hospital that the ambulance took her to (Wakemed in Raleigh NC). Bills were well over $100,000; our cost was ZERO (her deductibles were already satisfied). Not sure what a managed care plan would have done. Great hospital; great coverage. Thank you Hans and Cardinal.
My grandmother is turning 65 in oct. and she is confused about all this supplement nonsense. I've been trying to help her but I'm confused too. If they will allow seniors to get MA and go off Medicare then why won't they let them stay on Obamacare? That's what she has now and she wants to remain on it.
I'm in Texas (Dallas). I have a Plan N ... the premiums are lower than Plan G. Excess charges are actually quite rare and my doctor does not charge co-pays, so it was a no-brainer.
In those high premium states, such as NY and FL, a high-deductible Plan G or F might actually be a better deal.
I love that you saw calling the plans A, B, C is confusing with the parts of Medicare. And then you use A-F for the insurers, whereas you could just use the name in the table.
mr Hans, than you for your videos, I learn a lot, I have one question, I have kaiser permante insurance through my work company, I am planning to retire in 2023, and I would like to stay with kaiser, what you suggest???thank you in advance
Kaiser doesn’t allow independent producers like me to sell for them. They will make it easy to stay with them after Medicare
@@CardinalAdvisors thank you very much for the info, i appreciate
The best white board chart.
Question: Assuming one is taking a supplement/gap, does it avoid the premium amount of $170.10 in 2022??
for B??
Brian The $170.10 for Medicare Part B is required. If you stay on Original Medicare or choose Part C Advantage, you need to pay the $170.10. Hans
When you say you normally recommend Plan G, now that Plan F is no longer, and with the sickest people going on Plan G, isn’t it more likely that Plan G will have much higher future price increases than Plan N? If that takes place, you can’t change without medical underwriting.
It’s certainly a possibility that a disproportionate # of people in poor health end up on G causing higher rate increases in the future. If you believe that’s going to happen, I say buy a Plan N.
Hi Hans. Great stuff. I’m getting ready to go on Medicare. I haven’t heard you talk about how you rate Supplemental Insurance providing companies depending on their historical prices increases and customer service. I understand there are several factors to also consider other than pure price they quote you at this particular moment. Can you provide some insight here or in a future video? Thanks
Hi Rick. Future price increases are harder to predict than customer service is. Many of the companies you never heard of before reinsure their Medicare supplement business with the big companies, so the big companies are setting the rates now and in the future. So my thinking is, just start with Mutual of Omaha, Aetna, CIGNA, United Health. All 4 of them have great customer service and we serve as a buffer for you on that anyhow. United Health/AARP seems to have the best history on rate increases but the charge more to begin with in a lot of states. I hope this helps. If not, give me a call and I’ll help you pick. Thanks Hans
I live in Ohio where the part B excess charges are not allowed. Because of that fact, why is the more expensive plan G still offered in Ohio when it has the same coverage as the less expensive Plan N. It seems like all you would need is the less expensive plan N. Is there some other advantage to Plan G if you are living in Ohio?
The Plan N has a copay of $20 every time you go to the doctor. Also, you could see a specialist in another state who could levy excess Part B charges on you. Thanks Hans
YES YOU DID PUT UP THE PRICES BUT THE ? I HAVE WHICH IS MORE IMPORTANT I FEEL IS THE PRICE % INCREASE YEAR OVER YEAR. I WOULD LIKE TO SEE AT LEAST AN INSURANCE COMPANIES LAST 5 YRS. PREMIUMS. ARE THEY ERRATIC OR STABLE. hOW'S CUSTOMER SERVICE REPUTATION, HOW MANY YEARS HAVE THEY BEEN IN THE STATE? HOW LARGE IS THE GROUP IS IT ATTAINED AGE STATE???
OR ARE THESE ?'S NOT NECESSARY?
Hi Henry. What you ask for is very hard to do. These insurance companies introduce a new product with new rates every 2 to 3 years in each state. The new product is through a subsidiary company. The company with the most stable rate history is AARP/UnitedHealth across all 50 states. They charge more in the beginning. I represent most companies in all 50 states and make unbiased recommendations to my clients. Thanks Hans
Do you need to go through a medical underwriting process if already on Plan G and wish to change to another supplement provider??
Yes. Underwriting varies from company to company
STOP SAYING "SO"!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!