Medicare Newbie Asks--What are You Paying for Plan G in Minnesota

[Qs Laptop]

I will be signing up for Medicare before the year ends and think I'm fairly well schooled in the essential details of Medicare, Medigap plans and Medicare Advantage plans.

I spoke with a representative with Boomer Benefits yesterday and I have an appointment to speak to another sales rep based here in Minnesota next week. Unless I learn something radically different than what I now know, I'm planning on getting Medigap coverage Plan G, which is called Extended Basic Plan 2 here in Minnesota. Also a lower tier Plan D.

The Boomer Benefits rep suggested a plan from Aetna for Plan G (Again, called Extended Basic Plan 2 here in Minnesota.) He cautioned that Minnesota has some of the highest rates in the nation. My quote was for $211 per month. Reading other people's rates for Plan G here on Er.org, this seems extremely high.

So my question is this: If you are in Minnesota and on Extended Basic Plan 2 (Plan G) what is your monthly insurance premium and who is your insurance company?

 

[teej1985]

You can research this info right on Medicare's website:

https://www.medicare.gov/medigap-supplemental-insurance-plans/#/m/plans?year=2022&lang=en

I'm assuming that "Extended Basic - New" would be the equivalent of G and "High Deductible New"" would be the equivalent of HD G

 

[MBSC]

Here are some Medigap rates from the MN Dept. of Insurance. They are before any applicable discounts are applied.

https://mn.gov/commerce-stat/pdfs/medicare-supplement.pdf

Minnesota uses true community-pricing (not the UHC/AARP method). The lower Plan G rates you see posted here are usually attained-age or the hybrid UHC discount off community method. This site explains the difference.

https://www.medicare.gov/supplement...digap/medigap-costs/costs-of-medigap-policies

 

[Qs Laptop]

Thanks to both of you for the links. Very helpful.

 

[Qs Laptop]

OK, I just got off the phone with a Medicare sales rep (for lack of a better word.) She said Medigap plan G is known in Minnesota as "Basic Plan with 3 Riders". The website in this link calls it "Medigap Extended Basic-New."

I was quoted several prices from several underwriters and her quotes don't line up with the quotes on the Medicare.gov website:

https://www.medicare.gov/medigap-su...IC_NEW?fips=27053&zip=55420&year=2023&lang=en

For example, here is the pricing she quoted followed by the price on Medicare.gov

Aetna
$285.00/month $212.00/month

Blue Cross
$254.80/month $273.00/month

Cigna
$234.00/month $246/month

There were several other quotes but you get the idea.

Why are her prices different from those on the Medicare.gov website?

 

[REWahoo]

Why are her prices different from those on the Medicare.gov website?

Did you ask her that question?

 

[Qs Laptop]

Did you ask her that question?

Not yet. I didn't have the Medicare.gov website page in front of me when I spoke with her. I can ask in a follow up email, I guess.

I've since been on the Blue Cross website and they quote yet a different price than either BoomerBenefits for this sales rep I just spoke with.

 

[zinger1457]

I also noticed medicare.gov listed prices were higher for the AARP/UHC plans I was looking at, probably didn't include any discounts. Each plan listed had the following note "Costs are estimates and may change. Contact the company for an official quote.".

 

[Trooper]

Not yet. I didn't have the Medicare.gov website page in front of me when I spoke with her. I can ask in a follow up email, I guess.



I've since been on the Blue Cross website and they quote yet a different price than either BoomerBenefits for this sales rep I just spoke with.

I would also be interested in what you find out. I am not from Minnesota, but am new to Medicare and trying to decide between not using a broker, using Boomer Benefits, or using a broker that a friend recommended (name given to him from his financial planner).

 

[Qs Laptop]

I would also be interested in what you find out. I am not from Minnesota, but am new to Medicare and trying to decide between not using a broker, using Boomer Benefits, or using a broker that a friend recommended (name given to him from his financial planner).

Here in Minnesota they have various riders that are added to the "Basic Plan". One or more of those riders added to the policy will change the base rate. Also, some have Silver Sneakers included and some do not. Some charge an application fee, others do not.

I've found BoomerBenefits to be a real good resource. The sales rep I got is very knowledgeable and follows up promptly with answers to any of my questions. The local rep I spoke with was also knowledgeable but is flooded with work and isn't as responsive. For example, when I made my initial appointment with her it was made 14 days out. That doesn't bode well if I go with her and I have questions or problems with my coverage in the future.

I'm also now considering going with a Plan N instead of a Plan G.

 

[Spanky]

Here in Minnesota they have various riders that are added to the "Basic Plan". One or more of those riders added to the policy will change the base rate. Also, some have Silver Sneakers included and some do not. Some charge an application fee, others do not.

I've found BoomerBenefits to be a real good resource. The sales rep I got is very knowledgeable and follows up promptly with answers to any of my questions. The local rep I spoke with was also knowledgeable but is flooded with work and isn't as responsive. For example, when I made my initial appointment with her it was made 14 days out. That doesn't bode well if I go with her and I have questions or problems with my coverage in the future.

I'm also now considering going with a Plan N instead of a Plan G.

Have you decided on which plan? What's the premium? Do the quoted premiums from various companies include the Part B premium ($170 - 578.30)? I assume they do not. I am considering this plan: Medigap High Deductible Plan-new.

 

[Qs Laptop]

Have you decided on which plan?

I think I'm going with a Plan N. In Minnesota this is called "Medicare Supplement Plan with $20 and $50 Copays".

It is exactly the same as Plan G except it doesn't cover Part B Excess Charges and you must pay $20 copay when you go to the doctor and a $50 copay if you go to the emergency room. ($50 copay is waived if you subsequently need to be hospitalized.)

I've heard that Part B Excess Charges almost never happen and I'm OK with a $20 copay, which I will explain in a bit.

What's the premium?

That depends on the insurance company, and apparently the sales rep.

From BoomerBenefits for Plan N I was quoted:
$161/month for Cigna
$171/month for Aetna

From a local rep for Plan N I was quoted:
$182.60/month for Blue Cross
$208.20/month for HealthPartners

According to Medicare.gov for plan N it would be:
$160/month for Cigna
$170/month for Aetna
$190/month for Blue Cross
$202/month for HealthPartners

Do the quoted premiums from various companies include the Part B premium ($170 - 578.30)?

No, part B premium is $170.10 for 2022, if you are filing jointly and make less than $182,000.


As to the reason I've landed on a Plan N, when I was looking at part G plans I got these quotes.

From BoomerBenefits:
$211 from Aetna
$251 from Cigna
$262 from Blue Cross

From local rep:
$285 from Aetna (plus $20 application fee)
$234 from Cigna (no Silver Sneakers)
$254.80 from Blue Cross

So, if we compare the lowest cost Part N to the lowest cost Part G from BoomerBenefits there is a difference of $50 a month ($211 - $161). That is an annual difference of $600. This means that if I went on Plan N I would have to have 30 office visits per year at $20 each to justify getting a Plan G with the extra $600 per year I am paying for Plan G.

Using the local reps numbers we have $234 Plan G minus $182.60 Plan N, or $51.40 more per month for Plan G. Again that is 30 office visits at $20 a pop for Plan G to make economic sense over Plan N.