Medicare supplement plan G rate increases are definitely here!
So what is the solution to the ever increasing premium rates? Rate increases for plan G can cost you $20 a month, this adds up when both the husband and wife are on this plan. The solution? We strongly suggest that our clients consider a Medicare Supplement plan N as an option. Medicare Supplement Plan G’s are running around $220 a month, where as Plan N’s are running around $145 a month. This is a big difference dollar wise and is more pronounced in the state of Washington.
Medicare Supplement Plan G rate increases can be minimized by switching to a plan N (in the state of Washington you can switch all year long).
The big differences:
- Monthly premium: As mentioned above you can save close to $80/month moving from a plan G to N.
- Plan G – zero cost for Doctor, ER visits and excess charges.
- Plan N – Up to $20/per Dr. visit, up to $50 for the ER, and you cover any excess Dr. fees. PLEASE SEE THE CHART BELOW.
Our advice: If you don’t go to the doctor very often for appointments, a Medicare Plan N is a great option and will save you around $900 a year in premium! This a great solution to higher premium rates and still gives you a good Medicare Supplement Plan.
Check out this video Rick made about Plan N Supplements in June of 2019. You will notice he tells you then that the monthly premium difference between a G and an N is between $30-50/month. Two years later the premium difference is landing closer to $80/month. Wow.
Let us know if you have have any questions about moving to a plan N. All the carriers offer the same exact plan N. They just have different rates, and some include gym membership benefits. We can go over all of these differences with you.
As always you can find more answers to your questions on our FAQ page.