Tag: Humana Medicare

“Ask the Experts TV” asked about the Medicare Supplement High Deductible Plan G. Click and watch the video from the February 17 livestream interview here:

reason 1: Lower your MAXIMUM annual out-of-pocket

The annual maximum out-of-pocket is the amount you could potentially pay in medical co-pays after which your plan covers 100%.

Most Medicare Advantage plans include an annual maximum out-of-pocket amount for medical co-pays, ranging from $6,000 to $9,250. With a Medicare Supplement High Deductible plan, your maximum out-of-pocket is $2,950.

So, you would be lowering the amount you would pay before your plan covers 100% – reducing your potential exposure by thousands of dollars.

reason 2: Lower YOUR COMBINED annual premium and deductible costs

Let’s do some math:

Traditional Plan G:
$4800 annual premium (avg. $400/month) check your county
+ $283 Part B deductible
$5083

High Deductible G
$900 annual premium (avg $75/month) check your county
+$2950 maximum (Parts A and B deductible and 20% cost share)
$3850

Smart Tip: Set aside $250 saved in monthly premium payment for the $2950 to cover the Parts A and B deductible and 20% share. Depending on your medical claims you should have money left over on December 31.

IS this Like with other deductibles and I pay the first $2,950 in medical bills?

No. After you pay the Parts A and B deductibles, Medicare pays its share of claims (usually 80%) and you pay the 20%. Once your deductible and 20% share reaches $2,950, then your supplement plan pays 100% for the rest of the year. Think of it as a $2,950 cap on your out of pocket costs.

Will hospitals and doctors will accept my High Deductible plan?

Yes, if your provider participates in Original Medicare for your primary coverage, they will accept your Medigap supplemental coverage; including plans with deductibles like Plans G, N and High Deductible. This way you have access to the nationwide network of doctors and hospitals participating in Original Medicare.

How does a High Deductible compare to Medicare Advantage plan?

• • •  Medicare Advantage plans include a limit on out-of-pocket costs; ranging from $6,000 to $9,250 per year for in-network medical services. (Up to $13,900 for in and out of network)  Compare to a Medicare Supplement High Deductible plan with the annual maximum out-of-pocket cost capped at $2,950

• • • Medicare Advantage plans manage your Medicare benefits through contracts with in-network providers and hospitals. As mentioned above, any provider accepting Original Medicare for your primary coverage will accept your supplement coverage – eliminating the “is my doctor in-network with my plan” questions.
    • Most Medicare Advantage plans, including those with a low monthly premium, include Part D prescription drug coverage. With Medicare Supplement, you will need to obtain separate creditable Part D drug coverage. during an Annual Enrollment, Open Enrollment or Special Enrollment  Period. VA drug benefits are considered creditable coverage.
    • Many Medicare Advantage plans include features like dental allowance, fitness membership, eyewear and hearing aid benefits not available with Original Medicare.

Our agents are authorized to represent the Globe Life Insurance Company and Humana Medicare Supplement High Deductible Plans. Please call us at (518) 346-2115 or send any agent a quick note with your questions: