Medigap decision between plan G and G+

[teej1985]

I'm confused. Ya'll are talking about G + as if it's G HD. In CA, A "G Plus" or "G Extra" is just a G plan with additional benefits..

 

[shotgunner]

I'm confused. Ya'll are talking about G + as if it's G HD. In CA, A "G Plus" or "G Extra" is just a G plan with additional benefits..

I don't know about other states but the NH Insurance Department classifies the high deductible Plan G as G+.

https://www.nh.gov/insurance/consumers/documents/2022-medicare-suppguide.pdf

 

[a60dan]

Usually there are co-pays with G+ medigap plans. Those will reduce the $1200 premium difference.

As of today, it’s the “N” plan that has co-pays.

 

[a60dan]

My window starts 12/1/2024.

Curious if you took the G high deductible plan? If so, how has it turned out?

 

[youbet]

It was. Plan F was grandfathered a few years ago - not even sure those grandfathered can still get it today. The problem was a couple of years ago, they spiked the premium costs of Plan F to the point where it was more expensive than Plan G even if you paid the Part B deductible.

F is grandfathered for life for us geezers who already had it when new subscribers were not longer allowed.

 

[shotgunner]

My window starts 12/1/2024.

Curious if you took the G high deductible plan? If so, how has it turned out?

Yes I did and so far so good. I went with G HD from Humana with the $100 a month savings in premiums over the Anthem G (full). I started Medicare in April 2022. I had a small amount of out of pocket cost in '22 but my savings that year was $800. Last year I had no out of pocket issues and my savings was $1200. The first three months of this year was another $300 savings in premiums for a total of $2300. April 1st Humana raised the premium from $62 to $65. I don't know if Anthem would have raised my premium but the current savings remains around $100 a month, so $2400 saved to date.

A few things to take note of, I am in the VA Healthcare system as well. I pick and choose what I want to use of it. I went to an Urgent Care for a tick bite in '22, my VA co-pay was $30. I went for a hearing exam and testing in '22 as well. They gave me a set of hearing aids afterward they said cost $4K for no charge, the exam was a $50 copay. I also see a VA dermatologist each year for an annual exam, each visit was $50 copay. The VA helps me from having to use Medicare for some things.

This Feb I went for my annual Medicare Wellness visit which included blood work, no charge for the exam. However, they informed that in the future a nurse would be doing Wellness visits and there would be no lab work. I elected to schedule an office visit with lab work next Feb, there will be some small out of pocket for that most likely below the annual $240 deductible.

So far it's gone the way I hoped but one hospitalization would nullify the savings made so far, but the more years I go with significant premium savings the further ahead I am.

 

[shotgunner]

I stopped and gave some more thought to my experience thus far with a high deductible plan G.

As of December '23 my total of premium savings (since 4/22) over a full plan G was $2000.

For calendar year 2024 my maximum out of pocket costs with the HD plan G is $2800. If something really expensive happens to me medically in 2024 my max out of pocket financial risk vs. the full plan G is $1360 ($2800 - $240 Part B deductible - $1200 in premium savings.)

That means in a worst case scenario at the end of 2024 I would still be $640 ahead in savings with the HD plan G ($2000 accrued savings - $1360).

Please correct me if I am looking at this incorrectly.

 

[shotgunner]

It seems we can't edit a post if we see an error? "For calendar year 2023" should be "For calendar year 2024."

 

[Texas Proud]

I did not actually do the math but it does sound right. But that is only looking at a single year... what happens to the math if you had some major injury or whatever that spanned 2, 3 or even the rest of your life? How much will that cost you?

 

[MichaelB]

It seems we can't edit a post if we see an error? "For calendar year 2023" should be "For calendar year 2024."

Posts can be edited but there’s a window. I edited the year to 2024 in that post.

 

[shotgunner]

I did not actually do the math but it does sound right. But that is only looking at a single year... what happens to the math if you had some major injury or whatever that spanned 2, 3 or even the rest of your life? How much will that cost you?

Life is a gamble isn't it? If my health remains good I can't predict my savings going forward because I don't know what the annual deductible will be for the G HD is going to be, the government sets that every year. But if I get another 5 years of the savings that are possible I should be able to stay ahead for several years if something really bad happened. Worst case scenario is currently $1360 more annually vs. the full plan G. Of course that will go up a little bit more each year too. Remember it takes $6000 annually for Part B expenses that are not covered to break even on the $1200 more in annual premiums. A $6K annual copay for the 20% share of what is an allowable Medicare charge(s) is something really bad.