In Your Opinion, Which Is The Best Medigap Plan?
- Thread starter Kenneth82
- Start date
Thomas Mead
Expert
G will be the best now. IMO it already was since the premium difference is more than having F cover the part B deductible anyway.
- 6,469
Caveat, not an agent.
I would just note that the legislation only segments the market, it does not cause plan F to disappear. Whether or not plan F disappears will depend on what products the carriers bring to the market and how they price them. I think Plan F has the potential to still be an important product for agents dealing with the over 65 market for at least 2 more years.
If the price relationships between Plan G and Plan HDG follow along the lines of the price relationships between Plan F and Plan HDF, in my opinion, plan HDG is the "best" plan. (That ignores your need, as an agent, to make a living.)
I think posts here over the last 6 months suggest that many agents think Plan N is now (in 2020) the "best" plan.
The reality is that nothing has changed; the "best" plan will be whichever one of the available products that best matches up to the client's needs and budget, as discovered in the fact finding phase of your sales presentation. That could be F, G, N, HDx or something else.
I would just note that the legislation only segments the market, it does not cause plan F to disappear. Whether or not plan F disappears will depend on what products the carriers bring to the market and how they price them. I think Plan F has the potential to still be an important product for agents dealing with the over 65 market for at least 2 more years.
If the price relationships between Plan G and Plan HDG follow along the lines of the price relationships between Plan F and Plan HDF, in my opinion, plan HDG is the "best" plan. (That ignores your need, as an agent, to make a living.)
I think posts here over the last 6 months suggest that many agents think Plan N is now (in 2020) the "best" plan.
The reality is that nothing has changed; the "best" plan will be whichever one of the available products that best matches up to the client's needs and budget, as discovered in the fact finding phase of your sales presentation. That could be F, G, N, HDx or something else.
- 29,503
Plan G has been the "best buy" over F for a few years. That's why I carry a G.
- 709
The answer is the same for any kinds of insurance.
The best plan is the one which is in force when a claim is filed.
I cautioned many prospects NOT to take the cash-value life insurance plans because I thought it was stretching their budget too much and they would have to cancel it in 1-3 years.
Just enrolled a client in Obamacare who's family income qualified her for a $800 a month subsidy but was too high for Medi-Cal (Medicaid). She liked the plan with $0 deductible and 80% coverage. But, it cost $519 a month. The other plan was $358 a month but it had a high deductible. She wanted to know which plan I recommended and I told her the one which will be in force 2-5 years from now. She went with the $358 a month plan.
The best plan is the one which is in force when a claim is filed.
I cautioned many prospects NOT to take the cash-value life insurance plans because I thought it was stretching their budget too much and they would have to cancel it in 1-3 years.
Just enrolled a client in Obamacare who's family income qualified her for a $800 a month subsidy but was too high for Medi-Cal (Medicaid). She liked the plan with $0 deductible and 80% coverage. But, it cost $519 a month. The other plan was $358 a month but it had a high deductible. She wanted to know which plan I recommended and I told her the one which will be in force 2-5 years from now. She went with the $358 a month plan.
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I switched mine from an F to a G. Would have switched my wife's but she could not pass underwriting.. I am now paying less than she pays even though I am three years older and male.Plan G has been the "best buy" over F for a few years. That's why I carry a G.
- 16,901
I have sold a whole lot of Medicare Supplements over the last decade or so. I only remember Plan F being the best choice on around 4 of them. Unless they had to go with F due to guaranteed issue I always sold G and occasionally N.
anytime I ran into someone with an F I told them that their agent must have had his calculator upside down. That always gets a laugh and a door opened to explain why. Easy sales.
anytime I ran into someone with an F I told them that their agent must have had his calculator upside down. That always gets a laugh and a door opened to explain why. Easy sales.
- 709
