Are You Feeling Blue About Your Recent NC Medicare Supplement Rate Increase?

Every year insurance carriers that offer NC medicare supplements have rate increases.  These increase may be as little as $5 to over $30 more per month.  I don't have to tell you that when you are on a fixed income every little bit that you can save is worth looking into.

Most seniors that have a supplemental policy don't really understand that they may have other options.  With a Medigap policy you can change your carrier anytime that you want!  Did you recently get a rate increase?  Maybe it's time to look at other carriers?  The only catch is that you will have to answer health questions so some may be able to change and some will not be able to change.

What do we recommnend?

If you could find a plan that saves you $500 per year and gives you the same or similar benefits; don't you think it would be a good idea to look into it?  Chances are if you are reading this blog post you are most likely on Plan F.  Most agents and call centers push Plan F because it covers 100% of what Medicare doesn't (of Medicare approved claims).  We don't advocate Plan F because we feel that Plan G is the better value for our clients.  Plan G covers everything Plan F covers with the exception of your Part B annual deductible, which for 2015 is $147.  Your premium savings alone will more than cover this $147 deductible making the choice pretty easy.  

Let's look at some monthly rates for the Mecklenburg County area for both Male and Female Non Tobacco user:

Carrier Age Plan F
Plan G
Plan F
Plan G
Carrier A 66 $167.25 $157.25 $167.25 $157.25
Carrier B 66 $133.20 $123.62 $115.70 $107.46
Carrier C* 66 $152.44 $107.40 $134.92 $95.05
Carrier A 70 $200.05 $191.50 $200.05 $191.50
Carrier B 70 $150.02 $139.61 $130.45 $121.37
Carrier C* 70 $167.38 $117.92 $148.14 $104.36
Carrier A 75 $237.75 $226.50 $237.75 $226.50
Carrier B 75 $170.77 $159.60 $148.52 $138.78
Carrier C* 75 $197.25 $138.96 $174.75 $122.99
* Carrier C offers a 12% discount off the above rates if someone lives with you for more than 1 year and is over the age of 60.

Why we like Plan G for our clients
  Plan F  Plan G
Annual Premiums $167.25 x 12 months = $2,007 $95.05 x 12 months = $1,140.60
Annual Part B Deductible covered by Plan F automatically

You pay the $147 Annual Part B Deductible out of your pocket

Total $2,007 $1,287.60
    Savings of $719.40/year

As you can see Carrier C can save you a substantial amount of annual premiums than some of the other available carriers with their Plan G.  Remember the only difference in F and G is the annual deductible of $147 (for 2015).  Once you pay the $147, your Plan G will work exactly like Plan F.  Moreover, since we are close to the middle of the year; you may have already met the $147 deductible under your Plan F (if you have, you will not have to meet it again until 2016).

Bottom line is if you are on Plan F you ARE PAYING TOO MUCH. Remember Plan F is the same as Plan G + $147.  Exactly the same coverage.  So why pay $700+ more per year for the exact same coverage?

To find out if you qualify click the button below for us to contact you via phone.  It will only take a couple of minutes and we offer ZERO pressure....we can either save you money or we can't!  If we can help, great!  If we cannot help, we can simply part as friends!


How Medicare Supplement Insurance NC Saves You Money

In North Carolina, there are beautiful beaches which create memorable sunsets. The vacation resorts in North Carolina are surrounded by some of the most memorable landscaping you will ever see. There are many good reasons why people live in North Carolina their entire lives and why a large population of people decides to move to North Carolina for their retirement years. One of the things that many retirees in North Carolina have in common is the reliance on Medicare for their health insurance. That is also why Medicare supplement insurance NC residents have come to rely on has also become so popular. When you consider the changes that you go through during retirement, it makes sense to look into Medicare supplement packages.


Hospital care and medication are two of the aspects of medical care that seem to be going up in price the fastest. While Medicare Part A and Part B offer significant coverage to help offset the rising costs of medical treatment, they can leave gaps which can become expensive. Medicare supplement insurance NC helps to cover those gaps and prevent you from getting into financial trouble to get medical care. Understanding the benefits of a good Medicare supplement package is important to making sure that you get the right coverage. But before you can get into the supplemental insurance, you need to understand how the basic insurance works first.


Medicare Part A and Part B are the two basic packages that everyone has to choose from. Medicare Part A, referred to as hospital insurance, covers inpatient hospital care, skilled nursing facility, hospice, home health care and inpatient care at a religious non-medical health care institition.  The main expense here is the $1156 per benefit period deductible for the first 60 days of care.  For days 61+ it is a per day cost which can add up significantly. 


Medicare Part B, referred to as medical insurance, has much lower annual deductible of $140. Part B covers things like ER services, doctor services, labs, diabetes supplies, etc. But Part B only pays 80 percent of your medical costs. When you get any kind of medical treatment, you are responsible for the other 20 percent. This is where Medicare supplement insurance NC helps to prevent financial disaster when a medical emergency happens.


As you can see having Part A and Part B alone is not enough.  If you had a hospital stay for 5 days under Part A you would be responsible for $1156 and this is just covering your room and board.  The medical treatment that you had let's say totaled $80,000.  Your Part B would cover 80% of this and leave you owing an additional $16,000.  However if you had Medicare Supplement Plan F your bill would be $0.  Having the proper Medicare supplement insurance NC will offset those costs and make sure that you get the treatment you need without going into debt while you are on a fixed income.

NC Medicare Supplement Plans Are Standardized

When it comes to shopping for NC Medicare Supplement, also known as Medigap, plans it really isn't that difficult.  Just like all other states in the US, Medigap plans are designated by a letter and each plan is the exact same regardless of where you live.

You will commonly hear people say that Plan F is the best.  While this is technically true since it covers 100% of your Medicare approved medical costs this doesn't mean this is the best value.  Other plan options may offer lower premiums for a small reduction in benefits.  However many times this loss of benefits can often times be justified by the annual premium savings.  For instance, the only differenc between Plan G and Plan F is that Plan G doe not cover the Medicare Part B deductible of $140.  Howvever, if this plan is say $15 less per month then it is a better deal because you woul save $180 in annual premiums which if you had to use the plan you would net a $40 savings in this example.

Other than price, when choosing a Medicare Supplement plan in NC you should really pay attention to the carrier you are doing business with.  While all providers have to take any carrier that you have so long as they accept Medicare you really want to do business with a carrier that has a solid reputation and one that will be around for years to come...not some fly by night carrier that has low rates and you have never heard of.