Medicare, Medicaid, Life and Health Insurance/plan G vs F

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Question
Cindy,  I got a quote from Mutual of Omaha for the supplemental plan G for $117 mo. It's exactly the same as Plan F for $139, but doesn't cover the $166 deductible, whereas plan F does. Plan G would still be less expensive for the year than plan F, by $98 if I figured correctly.  

Then someone told me that plan G rates increase much more than plan F (through aarp) after 10-15 years, and it's a matter of paying less now, but a lot more later if I went with plan G. There is also the issue of plan F being discontinued in 2020. Even
though those signed up before then will be grandfathered in, I read that the premium for F will be sky high and unstable, since no new people will be entering the plan. What do you think? I'm leaning heaviliy towards plan G, the only issue I have with it is that the rates increase by a lot down the road in 10 years, but who knows if I'll even be alive then! lol.
Thanks

Answer
Hi Lee, we're getting to be old friends, lol.  As I've mentioned previously, in my opinion, getting the best plan when turning 65 is imperative because you can always move down the ladder as rates increase.  But if you start with a G or lower now, you'd have to go through underwriting to move up the ladder, and obviously if you're ill that won't fly.  All plans will increase depending on their loss ratio and profit margin.  Contact me when you're ready.  I can assist you with your RX plan as well.

Medicare, Medicaid, Life and Health Insurance

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Cindy Hopp

Expertise

As an expert in Medicare supplemental insurance, I can help you decide which plan is best for you. If you are turning 65 or your rates are just too high, let me shop for you and give you your options. I can also assist the under-65 for their health insurance options. Please include the State you live in.

Experience

Having been in the business for 10 years, I keep up with all the new rules of the new Health Reform and am licensed and certified to assist you.

Education/Credentials
All the continuing education I have taken keeps me up to date with licensing and the insurance industry.

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