Why I love Medicare Supplement High Deductible G.
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- Опубліковано 30 бер 2022
- If you consider yourself healthy and like to keep money in your pocket, HDG makes for a great solution.
2024 Updates
1. $2800 HDG
2. $1632 Part A Deductible
3. $240 Part B Deductible
For all the 2024 deductibles & premiums visit chrisruhm.com/blog/f/2024-med...
Licensed in 18 States: Arkansas, Arizona, Colorado, Florida, Georgia, Indiana, Kansas, Kentucky, Maryland, Michigan, Missouri, Nevada, Ohio (Resident State), Oregon, Pennsylvania, Tennessee, Texas & Virginia. All states subject to change.
Chris Ruhm
www.chrisruhm.com
www.justmedsupps.com
513-496-3877
chris@chrisruhm.com
Hi Chris, Thanks for the excellent video! We were considering MA-PD, but are now leaning toward Plan G-HD. In Florida, the least expensive is United American ($51/month), so I'm trying to research them a bit, which is how I came across your video. I have a couple questions, so will post separate comments to allow for different replies/threads. Thanks much, John :)
Feel free to give me a call or shoot me an email. chris@chrisruhm.com
Thanks for the great video and information. Yes, UA’s HDG is a great option for healthy savvy folks. One limitation though that people should know is that the 3% interest on the Reserve Fund tool is limited to payment of medical expenses. In other words, if you close or withdraw the monies, they only give you the principal back - they keep the 3%. So it’s really best used as a payment vehicle for medical bills, not as an investment.
I have an email to my rep. I see nowhere in the brochure that this is true. If you're correct, I appreciate your diligence and pointing it out.
@@ChristopherRuhmins If you find out information to the contrary, it’d be nice to know. The agent I spoke to who is in contact with UA told me that. It’s not a dealbreaker though. UA’s HDG is a great plan, I agree with you.
My rep just replied back and he told me that it's not true. The money that grows is taxable, but it's yours minus any taxes you owe from the 1099.
@@ChristopherRuhmins Interesting. Let me check with my source again about this.
@@garybalatennis I can forward the email from my rep if you email me, chris@chrisruhm.con along with the brochure.
Cigna in Georgia has a 37.85 for HG and 75.47 for N so not that much difference. Plan N is what I am considering. Those are discounted rates that slowly decrease the discount between age 65 to 90. 1% a year. And Georgia is a attained age state. That deductible for HG is tied to the CPI-U I think but I know it's up to 2800 for 2024.
You are correct, CPI-U end of August I believe. I always tell people, the Part A & B deductibles are the bigger deal. $1600 to $1632 and $224-$240. A bad year overall will not make a big difference. Plan N is a great plan, just pay attention to excess rates. It’s rare doctors charge excess. I can help you apply if you need assistance. I am appointed and licesned in GA.
Chris, You say that this policy is in your opinion for a healthy individual. Correct me with the following: In 2023 - 65yo with G pays $150/mo or $1800 + $266 deduct= $2066. Same dude's wife is 65yo with HDG pays $40/mo or $480=$266 deduct= $746. The difference is $1320 so this becomes the $$'s spent after the $266 deductible (that both have) in order for both plans to have the exact same cost in the year. After that, every dollar spent from $2066 to $2480 in your example in 2023 is the difference in coverage $'s? This would mean that you are insuring with your $150/mo payments on the regular G plan in order to not pay the $414 difference. Do I then understand that the policy, after that higher deductible , is exactly the same and covers without difference in coverage ? If this is correct, every year that I bet that I won't get to the high deductible amount will cost me $414 but in the years I don't will save me a hypothetical $1320. If this is the case, this policy is not just for healthy people but for people who don't mind being somewhat self insured for that $414 because they can afford to take the risk as they have $$'s in reserve/cash flow to pay that difference and the potential doctor charges along the way before the deductible. Wrong or Right?
Hi there, sorry for the slow response. I have to figure out how to get notifications for responses.
I'm saying if you're going to have high utilization (unhealthy individual), and by that I mean Part A hospital utilization. That is a per occurrence deductibile and it's $1600. One hospital stay could cost more than an entire years premium with Plan G while young. The Part B deductible in 2023 is $226. Part B utilization on HDG is relatively low outside of expensive outpatient surgeries.
In general, HDG appeals to healthier individuals vs chronically ill individuals.
getting that exact one
Great choice Carlos. If you need a quote, visit www.justmedsupps.com. Thank you!
Updates to HDG in 2024: 1. HDG moving up to $2800 from $2700. 2. Part A Deductible is moving up to $1632 from $1600. 3. Part B Deductible is going up to $240 from $224. Numbers 2 & 3 are what you need to focus on. If $2800 concerns you, this plan paired with a hospital indemnity and cancer rider is a solid way to ease many concerns.
Does the standard Part B deductible count toward the full deductible, or is in addition? Your presentation didn’t mention it.
You basically have Original Medicare until you reach $2700 in 2023. My understanding, the only way you may pay more than the $2700 is reaching the $2700 with all of Part A. However, two hospitalizations would make it difficult to not have Part B met with doctor follow ups, etc. The answer is yes, anything Part A & B applies to the $2700.
We're trying to understand also how Medicare claims are processed. It sounds like when we visit a provider, we would show both our Medicare card and Medigap card. Do providers then submit bills to both Medicare and the Medigap insurer? Or just to Medicare, and then Medicare somehow knows (via provider?) that we have Medigap coverage, so then Medicare forwards info to Medigap insurer for continued processing? Does Medigap insurer then bill us for our portion (i.e., assuming we have not yet met the $2700 deductible)? Or does provider bill us after receiving payment from Medicare (and perhaps notification from Medigap insurer that we owe the remainder)?
You give them both cards. Medicare always pays first. You will pay all the original medicare bills until you reach $2700. The claims are sent to United American as well for tracking.
I independently came to the conclusion that HDG is the best for me. I'm healthy. Also, I don't want any doctor eyeing my insurance looking for ways to milk it for all it's worth.
Hi Ken, I'm with you my friend. It really is a great option to keep costs low and mitigate catastropic expenses. Thanks for watching and let me know if Ican be of assistance in any way. www.justmedsupps.com
So they milk you first, and THEN your insurance?
Related to the question about claims processing, we noticed on the UA site that they have instructions for submitting claims to them. If a claim is to be filed by insured, they indicate that a Medicare Summary Notice should be mailed or faxed in. This would imply that the claim was not automatically filed by the provider or sent to UA by Medicare. Would this be some kind of an anomaly, or is this how UA typically operates?
Typically you would not need to file claims. The provider typically sends the claim to Medicare and United American. In some cases (haven't seen one yet), you may have to submit a claim to UA.
I am not very familiar with United American (UA) yet, but I did read somewhere (a Forbes article, I think) that they've had twice as many customer complaints as, say, AARP/United Healthcare. I know that the plans are consistent among insurers, so no network differences, etc., and UA seems to have a good financial rating. Is there somewhere we can look to compare customer satisfaction ratings of the Medigap companies (like UA, UHC, or Mutual of Omaha)? Are you aware of customer satisfaction issues with UA? What would make a customer happier with one plan G-HD provider over another?
Google is your best bet. I don't have a specific site. I would concur that UHC, and Mutual of Omaha are better carriers for customer service and satisfaction. However, I have had no significant complaints to date.
Another UA-cam video from 2015 says United American's Part D plan was suspended because of numerous unresolved complaints. Do you know if United American has improved its customer service since then?
Hey Ben, I didn't know United American had a Part D plan. If yu ever look at the star ratings of PDP plans, they're not good. This is why: chrisruhm.com/blog/f/2023-medicare-prescription-drug-plan
Does G, cover out of country medical payments?
Unfortunately UA-cam is terrible about notifications. It's never a bad idea to get a travel Medical policy, but you do typically get some limited benefits with Medicare.
Your Medigap policy may offer additional coverage for health care services or supplies that you get outside the U.S. Medigap plans C, D, E, F, G, H, I, J, M, and N provide foreign travel emergency health care coverage when you travel outside the U.S. Even though Plans E, H, I, and J are no longer for sale, you may keep it if you bought one of these plans before June1, 2010.
Medigap plans C, D, E, F, G, H, I, J, M, and N pay 80% of the billed charges for
certain medically necessary emergency care outside the U.S. after you meet a $250deductible for the year. These Medigap policies cover foreign travel emergency care if it begins during the first 60 days of your trip, and if Medicare doesn’t otherwise cover the care. Foreign travel emergency coverage with Medigap policies has a lifetime limit of $50,000. Medicare Advantage plans typically have some Foreigh Travel benefits as well. However, I would get a travel medical individual plan based on the trip if available. I have a link at chrisruhm.com on the home page for travel plans.
What do you think about “issue age”? Worth it to never get aged increase, other than inflation increase ?
You typically start higher and they find the inflation. The beauty of HDG, it’s a much healthier pool, but smaller. I think in the end it will be a wash.
Hi, I will be 65 in 2 months. When I first started researching this, I am pretty sure Globe and United American had a HDG feature that allowed you to switch to their regular G after 1or 2 years w/o medical underwriting. In a recent conversation I had with Globe, the guy said (suspiciously) he had never heard of that and it was not true. I have not spoken with UA, who also offers HDG in my area at $10/mo more. Do you have info on this.
While they are the same parent company, only United American and Federal Life offer this option. Physicians Mutual has a hybrid, but it makes no sense in my opinion when you have Federal & UA. Federal Life would have much lower G Rates if you did make the change in 2 years. Federal Life is administered by Mutual of Omaha. Also, Humana has a great option in some areas with Silver Sneakers and a vision & hearing discount plan included. Last, I always question in my head whether HDG is the right choice if you’re looking at the 2 year option. I’d lean towards Plan N. Anyway, feel free to check out justmedsupps.com if you want a quote with Federal Life plan HDG.
@@ChristopherRuhminsI see, you are right, the regular Plan G by UA is WAY (60%!) more expensive than other companies in my area (CA). But I suppose if something really bad happened to me health-wise in the next 2 years, for $10/month "insurance" under UA's HDG I would have the right to switch from UA HDG to UA G, I'd do that for a year, then the next year I could switch to another company's (cheaper) regular G because it would not be a greater level of coverage, so no medical underwriting. I'm a perfect HDG person, never sick, no chronic conditions, never been prescribed anything to take regularly, etc. Glad I found your channel, really helpful.
Do you have the historical annual rate increase and age increase from 65 to 85?
I do not, sorry. It varies by state. I can ask for your zip code and state if you like. Please email me at chris@chrisruhm.com and provide where you would like the historical data from.
I just sent you the email. Thanks
@@philip5899 I replied and asked UA if they can provide, but being in the state you reside, it really doesn’t matter with the birthday rule. You can pick the cheapest carrier every year. However, this will cause all historical data to be irrelevant as plans become adversely affected from this rule. Sick people will be moving to the cheapest plans in droves and I expect a few carriers to leave the state possibly.
Do they pay for annual physical and immunization?
It pays for anything Original Medicare covers. There’s a Welcome to Medicare first 12 months and annual wellness visits covered after 12 months. Many other preventive services approximately 31.
There’s a great app on either Google or Apple, type Medicare What’s Covered. Here is the Apple link: apps.apple.com/app/id1444143600
The Part D prescription plans are paying for many of the immunizations now.
I don't understand - concerning the $2490 deductible you say, " Medicare pays first" until you reach the deductible, then they pay everything after you reach the deductible...so, it sounds like I pay nothing until the deductible, and nothing after the deductible ?
Greg, pretend like you only have Original Medicare. You did not have a supplement or advantage plan of any type. If you have Original Medicare with no supplement and you go to the hospital, you would have a $1600 deductible in 2023. If your bill reaches $1600, you would not pay any more for that hospital stay. With HDG, the $1600 you paid applies towards the High Deductible G of $2490/$2700 (2023). You get out of the hspital and go see the cardiologist. That doctor visit at the negotiate rate is $75, you pay the $75 because you have not hit the Part B deductible yet. That $75 also applies towards the $2700. Using the previous hospital stay, you're now at $1675 of the $2490/$2700. If you hit the part B dedutible of $233/$226, the doctor visits would be 20% of the negotiated rate. If any combination of A & B reach $2490/$2700, the supplement then pays the remainder of your costs for the year. But Original Medicare has deductibes and coinsurance you pay. Supplements are designed to pick up the costs medicare doesn't pay. If this didn't make sense, please call me 513-335-2465
@@ChristopherRuhmins Chris that's the BEST explanation of how HDG pays I've seen!! I follow about 10 independent agent's on UA-cam. Congratulations 👏🎉 for taking the time to do that. I'm nearing 59 but will go HDG when I hit 65. Also I'm now subscribed to your channel.
@@Retiredmco thank you for the nice words. Hope your Thanksgiving was good.
HDG is now $2700 deductible?
The cost sharing is $2700 this year, it’s not really the deductible. HDG a misleading name in my opinion. Because the deductibles are $1600 Part A & $226 Part B.
no contact information for you?
Hey Michael, I received your quote request yesterday and you had no contact info either. I found your address and I'm mailing a quote today. My info was included at the end of the video. chris@chrisruhm.com www.chrisruhm.com
Yes, but, the deductible keeps going up. a lot.
Yes, it follows the CPI Inflation index. However, the Part A & B deductible has not gone up as significantly, Part B actually went down in 2023. It's going to take 2 hospital stays or approximately 90 doctor visits to hit $2700 (or some combination). It's not the same as a traditional deductible. I'd consider the $2700 more cost sharing than a deductible.
@@ChristopherRuhmins Doesn't the high deductible G cover the part A deductible? So what would it matter if the part A went up?
Not with High Deductible G, you have to pay the $1600 part A deductible if you go to the hospital. If you go to the hospital twice for 10 days, you would pay $1600 for your first stay and a max of $1100 for your second. However, you're likely to have Part B expenses after a hopsital stay. So your second stay would probably be less than $1100.
Bottom line, with Plan High Deductible G, you have Original Medicare Parts A & B until you hit the $2700. The insurance company someone chooses with HDG keeps track of the claims and once you pay $2700 in Original Medicare costs, the plan then pays 100%.
If you have Plan G or N, it covers the Part A deductible.
Last, here is a video comparing the traditional deductible to High Deductible G: ua-cam.com/video/sEi-bVSAC8U/v-deo.html
If you are healthy at 65, you have a good chance of not having health issues until your late 70s or later, but it's a calculated risk that the high deductible will begin to exceed your annual premium savings earlier than you expect, but that deductible is still comparatively small and remains offset by the premium savings. This option is well worth considering. I disagree only with the agent's diplomatic refusal in his comment near the end of this video to denigrate so-called "Advantage" plans. Avoid Advantage plans if at all possible!
I’ll have to replay the video and find my denigration of Advantage plans. I sell both Advantage and Supplements equally. It’s your choice, not mine. With 15 years of experience, if I were turning 65 my choice would be HDG even with health issues. I like freedom to choose almost any doctor and hospital.
@@ChristopherRuhmins You did not denigrate Advantage plans. I did. IMO the only good reason to enroll in an Advantage plan is inability to afford a Medigap premium. The high-deductible Plan G that you discuss offers such a low Medigap premium and such a low cap on co-pays that it becomes even harder to justify all but perhaps a few exceptional Advantage plans that might in some localities have high quality provider networks that include a particular enrolled chosen providers IF those providers do not accept original Medicare.
@@75Froggie I stand corrected, sorry. Too early in the morning. I have noticed early in this Annual Election Period this year, the max out of pockets on some of the plans are dropping pretty nicely at least in Cincinnati. Other areas have favorable max expenditures as well. I did talk to a client yesterday on HDG that had both Corneas done this year and another outpatient eye surgery and he still hasn’t reached the $2700. That is why I am a big fan of HDG. The Medicare negotiated rate. Anyway, again my apologies for misreading your comment. Everyone has a risk appetite their willing to accept and the value added benefits in Advantage plans are pretty enticing I must say if you don’t mind the managed care hurdles that present often.
But what happens when you cease to be healthy?
This plan is not for you if you dont think big picture. As I stated, good to excellent health with good longevity in the family. The premium savings is $26,493 and that's probably low considering G rate increases are typically higher than HDG. If you think you'll hit the deductctible 8+ times which equates to probably 16+ hospital stays, G or N may work better for you. I'm just giving an option for people lile to keep money in their pocket vs the insurance companies. Last, unfortunatelty when you cease to be unhealthy, you may not be alive much longer and you won't care about premiums, deductibles or anything else for that matter ;)!
@@ChristopherRuhmins the dead dont count. in any sense of the word "dead". meanwhile your family is scavenging thru your estate to steal all they can.
@@jobob47 you won’t know or care, let ‘‘em have at it. But, I’d strongly suggest a Will to help prevent this.
@@ChristopherRuhmins no. I understand that.
its just that in the last 12 months I have had to help clean up 2 estates. for people who were older, but died "unexpectedly".
I will leave it to others to discuss the why of huge increases in "unexpected" deaths.
the way some people act,
it was not a pretty thing to see.
@@jobob47 Yep, the executor on a few estates myself. Having seen the Wills, not looking forward to them. Maybe Ill go before with all the mysterious deaths I’ve seen as well. Just love your best life until then, thanks for commenting.