“My Plan F is the best, I never pay anything for doctors.”
Well, Plan F may be the best unless you actually factor in the cost. It’s true that Plan F leaves zero for the patient to pay for Medicare covered services. But being willing to pay a small (and I mean small) amount every year can save a good deal of money.
The following is a true example of the kind of thing I hear daily:
Mrs. M: “I wouldn’t want to change my Plan F. I never have to pay anything for my care.”
RB: “Do you realize if you are will to pay the Medicare deductible of $183 you can save $500 in premium – GUARANTEED? In other words, your insurance company is charging you 3 times what they are paying just for your convenience. Do you still think that’s such a great deal?
Usually this gets people thinking about VALUE. Plan G is exactly the same in every respect to Plan F except it does not pay the Medicare deductible. The savings in premium tends to be $30-50 per month.
I always ask the question at this point about how much money they want to give an insurance company so they won’t be billed an annual deductible, currently $183. Rarely does anyone tell me $500!
Most people won’t discover this on their own. Only an independent insurance agent can show you the value of a Medicare Supplement. If you haven’t reviewed your options maybe now is the time.