Premium Pricing on Med Sups... How so Low ?

[Davis B]

I was listening to a You Tube video, when the Pitchman was touting 'Medicare Sups from $39/mth' ~~!
???
Hmmm...that doesn't sound right (or is it) ?

I'm not Med Sup expert, but as i recall most quotes in my area started from $225/mth.

Anyone hear of MED SUP premiums from $39 mth???

What's the Catch?

THANKS for your input...

 

[Cenla Agent]

I am sure it was for a high deductible plan.

 

[Davis B]

I am sure it was for a high deductible plan.

Yes Sir...i figured that.

BUT how much of a Deductible ?

With a $39/mth premium...the deductible must be at least 4K.

?

 

[LostDollar]

Yes Sir...i figured that.

BUT how much of a Deductible ?

With a $39/mth premium...the deductible must be at least 4K.

?

Caveat, I am not an agent.

Medicare supplements (Medigap) are standardized by government rules. (The rules come from some combination of SSA, HHS and CMS. I have never been quite sure of all the sources.)

The Medigap High Deductible is set each year by the government for Plans J, F, and G.
For 2022 it is around $2500. For 2023 it will be around $2700. (I don't talk about this to clients every day so I can never remember precise amounts.)

So people with a High Deductible Medigap have two deductibles to deal with, the Part B deductible and the Medigap high deductible. For an HDG plan the Part B (and Part A) deductible will apply to the Medigap high deductible.

Just like with regular Medigap plans, the HDG premiums will vary by Zip Code and Age. I pay around $60 a month for my HDF plan-but I am in a different state and likely much older than the person you are looking at premiums for.

 

[Travis Price]

Honestly insurance companies should pay more for HDG, they almost never pay out a dime in claims.

 

[Cenla Agent]

Yes Sir...i figured that.

BUT how much of a Deductible ?

With a $39/mth premium...the deductible must be at least 4K.

?

I don’t think I’ve seen one quite that low. But I don’t sell in a real cheap area for med supps either. As you know it depends on age, location, sex, etc.

Maybe the commission is $.04?

 

[Davis B]

I don’t think I’ve seen one quite that low. But I don’t sell in a real cheap area for med supps either. As you know it depends on age, location, sex, etc.

Maybe the commission is $.04?

Agreed...its a Gimmick (like car sales). Agent says 'Payments from $39/mth'...but the fine print says 'deductible of 4k must be met PRIOR to insurance paying 1 dime'...

 

[Cenla Agent]

Agreed...its a Gimmick (like car sales). Agent says 'Payments from $39/mth'...but the fine print says 'deductible of 4k must be met PRIOR to insurance paying 1 dime'...

it ain’t 4K yet. Only $2700.

In my experience, some who go with HD when they turn 65 decide later on that they’d prefer a standard Plan G. Naturally, many of them cannot qualify at that point.

 

[LostDollar]

Agreed...its a Gimmick (like car sales). Agent says 'Payments from $39/mth'...but the fine print says 'deductible of 4k must be met PRIOR to insurance paying 1 dime'...

It is NOT a gimmick.

 

[DS4]

In my zip code, age 65,
$37/mo United American Plan HD G
$44/mo Humana HD G