It could be that the individual is new to Medicare, eager to purchase traditional supplement plans, when opposed to getting enrolled in Medicare Advantage Plan. Also, there could possibly be a plan to avail one of the comprehensive supplement plans such as Plan N, G, F, D or C.
It has been noticed that most of the beneficiaries of Medicare tend to lean towards Plan F, since it is regarded to be a comprehensive Medicare supplement, which could be purchased easily and also popular among the mass. The main reason behind its popularity is that it covers all gaps present in Medicare Parts B and A, with the exception of Prescription Part- D drug coverage. In other words, as long as the individual’s medical care is expense of Medicare approved, Plan F is likely to fill all gaps and the person would not have any out of pocket expense.
Medicare Supplement Plan G 2016: Is it a good choice?
Why should anyone consider availing Medicare Supplement Plan G? This is a question that is asked by many. Firstly, it is essential to understand that Plan G does fill in all Medicare Part A and B gaps. However, Plan G is said not to cover Medicare Part-B deductible. Another reason for its increasing popularity is that Medicare Supplement Plan G 2016 benefits are not changing the forthcoming year for seniors.
Who should consider this plan?
Medicare eligible consumers are to take into consideration availing Medicare Supplement Plan G 2016, for couple of reasons. First reason is the cost involved. As the individual is pricing Medicare supplement from that of different carriers, he is sure to see in most instances that Plan G is about $15 lesser every month when compared with Plan F.
On taking $15 and multiplying it by 12 months of the year, the person comes up with $180. Therefore, why to spend additional $180 more every year with Plan F premiums for covering deductible of $147? This does not make any sense and in most of the cases, the difference noticed is significantly much more than $180. View this page to learn more about Plan G and it’s benefits: http://www.medisupps.com/medicare-supplement-plan-g/
About annual Medicare Part- B Deductible
What happens if CMS raises Part-B deductible to over $147 or increased to $500? In this case, insurance provider would have premiums adjusted accordingly on the renewal made. In highly unlikely event where Part-B deductible significantly increases, Plan F premiums t hem would increase since Plan F is to cover the gap. As insurance providers would not absorb cost, they would pass on the same to the customers. Since Medicare Supplement Plan G 2016 would not cover the gap, as such supplements are likely to have much smaller increase in rate if Part-B deductible significantly jumps, hence, making it a good choice.