Plan N Co-payment

Discussion in 'Senior Insurance Forum' started by billyg, Jun 23, 2010.

  1. medx
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    medx Well-Known Member

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    Also remember that the Plan N does not pay the part B excess.
     
  2. GreenSky
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    GreenSky Well-Known Member

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    That is an issue in about 1% of the cases and rarely amounts to more than a few dollars. Certainly not worth insuring if it costs more than a few cents each month.

    Rick
     
  3. Norwayguy
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    Norwayguy Well-Known Member

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    $250 difference in premium per year between F and N. I don't know if I would recommend a client to go from F to N because after the $155 part b Deductible your savings is only $95 a couple of Dr visits (and what senior doesn't go a couple times a year) and the savings are spent...and health goes downhill they may be stuck on N and spending way more than the savings.
     
  4. billyg
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    billyg Well-Known Member

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    My experience with most of my customers is that there is usually a $250+ difference between Plan F and Plan G, a little more for Plan D. the difference between Plan F and Plan N is usually greater; however, I tend to agree with you. Recently had a healthy customer which I presented with rates for Plan D and Plan N. The difference in premium was about $4.00 per month. While he was pretty confident he would save about $50/yr on Plan N for the next year, maybe two, he also recognized that if something serious came up, he could have his savings eaten away pretty quickly. As he said, he buys insurance when he is healthy to cover the times he is not. So he decided to purchase the Plan D and felt that was the best value.
     
  5. GreenSky
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    GreenSky Well-Known Member

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    And as the health goes downhill after a few years, the premium differential will also become greater as a 20% increase in both plans will net another $50-75 annual savings using the $250 annual differential.

    I pointed out that the difference could be $250-350. In my zip code, the difference is more like $600 a year. It would take a bunch of office visits at $20 max to total $450 (net of $600 annual minus the $155).

    I'm certainly not saying that Plan N works in every instance only that if someone has Plan F and I can save them $450 to move to N, I will likely write the business where someone who only looks at F would most likely not gain a client.

    There will be a final exam about this subject tomorrow as part of the entrance into the 1000 mile club. I suggest you study.

    Rick
     
  6. Norwayguy
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    Norwayguy Well-Known Member

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    I'm not questioning you on your recommendation of Plan N. If I recommend plan N its because I know I have a fall back plan if my clients health spirals downward, I would go first to Anthem say Plan F(No Med Questions) then after 12 months GI it across to whomever is the best plan price wise.

    And please don't say I'm churning.
     
  7. djs
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    djs Super Moderator Moderator

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    Just curious (I don't sell medicare anything). How often do excess charges come up? Would the doc fix not getting funding make this better or worse or no issue?

    Dan
     
  8. G.Gordon
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    G.Gordon Well-Known Member

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    Excess benefit coverage is a non-issue IMO. When you understand the low likelihood of someone finding a doc that will charge under "excess charges" and then do the math that plans F and G only cover 100% of the 13.5% markup allowed under medicare guidelines.
    - - - - - - - - - - - - - - - - - -
    On another note. Most of my N clients are saving a minimum of $50/mo with some saving as much as $100/mo.
     
    Last edited: Jun 23, 2010
  9. djs
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    djs Super Moderator Moderator

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    But if they take a 20% or so cut from not implementing the doc fix, can they make it up, at least somewhat, by excess charges?

    Reason I ask (besides my mother in law asking me) is that the savings from not extending the doc fix has already been spent (part of how they paid for Obamacare). The extensions on the doc fix are deficit spending and I think it's getting tougher to pass the short extensions they are doing.

    I just don't have a feel for the likelihood of excess charges, now or in the future.

    Dan
     
  10. coachd
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    coachd Well-Known Member

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    I like plan N for people not going to doctors, other than that I would sell what ever is cheaper in my area between plan D or G. G is the best price around me so I sell more.

    Does any one know how to get what Medicare will pay doctors in one area? I have looked for this and can not find it.
    Thanks
     
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