F or G

[luke4275]

I'' getting some good training and was wondering what others would choose F or G and why?? I went thru a gerber app.. they only sell A. F and G in California..

for ex.. a 68 non smoke female will pay 135.77 for an F
116.92 for an G
I'm told the only difference between the plans is that F pays the part B ded of $155 per year and G doesnt.

the policy diff per year is $18.85 per month.. ( 18.55 x 12 = 226.20 )

Can you tell me which you would choose and why

 

[sman]

If the premium for Plan G is more than $155 cheaper than Plan F (based on the 2010 benefit year), then Plan G is a no brainer. The reason? The benefits are identical with the exception of the Part B deductible.

As with your example, Plan G comes out to being $71.20 cheaper than Plan F assuming the person had at least $155 of Medicare approved Part B charges for the year.

I'' getting some good training and was wondering what others would choose F or G and why?? I went thru a gerber app.. they only sell A. F and G in California..

for ex.. a 68 non smoke female will pay 135.77 for an F
116.92 for an G
I'm told the only difference between the plans is that F pays the part B ded of $155 per year and G doesnt.

the policy diff per year is $18.85 per month.. ( 18.55 x 12 = 226.20 )

Can you tell me which you would choose and why

 

[ksigmtsu]

G or D usually beat C or F right now.

 

[VolAgent]

If the premium for Plan G is more than $155 cheaper than Plan F (based on the 2010 benefit year), then Plan G is a no brainer. The reason? The benefits are identical with the exception of the Part B deductible.

As with your example, Plan G comes out to being $71.20 cheaper than Plan F assuming the person had at least $155 of Medicare approved Part B charges for the year.

It depends. Some people are willing to pay a premium to have no OOP when going to the doctor. 180-200 more for an F versus a G is probably around the breakpoint. Remember, convenience has a price, and some people are willing to pay $50 a year for it.

 

[G.Gordon]

I've used the monthly premium as a breaking point/sales point.

Example: Monthly premium is $120/mo. Difference between F and G is $110 or more than the ded. (155+110) then I push the D/G option using the reasoning that if they'll take on the responsibility for paying their own ded. then they get a month of free insurance.

 

[Frank Stastny]

Sometimes companies will have a different percent of increase for each plan they sell. In the times I have seen that happen Plan F usually has the highest percent of increase.

A few years ago a company had a 25% increase on Plan F but only a 9% increase on Plan D. I don't remember what the Plan G increase was but it was less than the Plan F.

I like to look out for my client's interest not only today but in the future as well.

 

[ksigmtsu]

Via Franks example there, UNL just announced a 10% increase on F, 5% increase on G in TN on modernized block.
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By what the carriers say the justification for rate increases is, you would expect that the plan F would always have the highest rate increase, because the most claims are probably happening in that block.

I would suspect the plan N with MOO will blow out their plan F % wise in rate increase though.

 

[sman]

You're already seeing rate increases on Modernized plans?

 

[G.Gordon]

In many states like MO the modernized plans are meshed with the standardized plans so yea, some plans will be taking RU's on modernized plans due to claims loses on the old book.

 

[ksigmtsu]

You're already seeing rate increases on Modernized plans?

I heard rumor that increases were coming with other carriers too, but yeah I got a letter for increase on UNL in the mail last week.

Their modernized block includes old block, they didn't re-rate or come out with a new product line, they just submitted same rates back to DOI.