Are you turning 65 and enrolling in Medicare Supplement Reno Plan? If so, you’ll want to know about Medicare Plan G Nevada.
ORIGINAL MEDICARE
Original Medicare, consisting of Parts A (hospital insurance) & B (medical insurance) essentially works like any other health plan you’ve ever had in that it comes to Deductibles, Copays and Co-insurance. But, because its cost is so low for most seniors, it truly is the light at the end of the tunnel (a comparable private health plan for a 64-year-old can easily cost $1000).
MEDICARE SUPPLEMENTS
Many seniors choose a Medicare Supplement plan at an additional premium to help pay for some of the copayments, coinsurance, and deductibles that Medicare Nevada doesn’t cover. A Medicare Supplement F plan covers 100% of all of these. As such it is the best, most comprehensible plan you can buy and it is the most popular plan with my clients.
But you should also consider a Medicare Supplement G plan as it can save you money.
The only difference between a Medicare Plan G and an F plan is that the G plan does not pay Medicare’s Part B deductible. In 2017 that deductible is $184. Other than that deductible, the F and the G coverage’s are exactly the same.
But with new rates effective April 1, 2017, there is a big difference in premium for the two plans, depending upon which insurance company you get your plan from (not every insurance company offers a G Plan). A difference of $35 or more per month is now common.
BY THE NUMBERS
So here’s the math. If a G plan costs $35 a month less than an F plan, that’s $420 a year. The only thing an F plan covers that the G plan doesn’t cover is the $184 Part B deductible (in 2017). $420 – $184 = $236 in premium savings. So if you buy an F plan you are essentially paying $420 for a $184 benefit. To me, that doesn’t compute.
Now there are other things to consider such as you are not getting a full year’s savings unless you enroll in January (but the numbers will probably work just as well next year). Also, we don’t know what the Part B deductible will be next year or the year after, nor do we know what the premium pricing for the F & G plans will be. Finally, with an F plan, you have the peace of mind knowing that all of the costs Medicare doesn’t cover are being paid for… you won’t see a single bill.
But for me, the savings of a G Plan over an F plan make the Medicare Plan G Nevada the hands-down winner. And I’m putting my money where my mouth is. I’ve enrolled in a Medicare Plan G Nevada.
As with all Medicare Supplement plans, the F and the G plans are accepted by any doctor anywhere in the United States that accepts Medicare.
There are so many other things you need to be knowledgeable about when selecting a plan to supplement your Medicare coverage and I’d love to talk to you about them. We can also chat about Medicare Advantage Reno plans as well. Our office number is (775) 828-1216.
