F Vs G and the Part B Deductible

[midwestbroker]

There was a thread on Linked In about F vs G, where some believe the Part B deductible (the main difference between the plans) could just jump in cost.

So, for all my fellow agents on the forum, here is how the Part B deductible is calculated every year:

Prior to the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (MMA) (Pub. L. 108-173), the Part B deductible was set in statute. After setting the 2005 deductible amount at $110, section 629 of the MMA (amending section 1833(b) of the Act) requires that the Part B deductible be indexed beginning in 2006. The inflation factor to be used each year is the annual percentage increase in the Part B actuarial rate for enrollees age 65 and over. Specifically, the 2014 Part B deductible is calculated by multiplying the 2013 deductible by the ratio of the 2014 aged actuarial rate to the 2013 aged actuarial rate. The amount determined under this formula is then rounded to the nearest $1.

From the Federal Register

 

[GreenSky]

So are you saying it could jump dramatically and we shouldn't sell plan G?

Rick

 

[Newby]

If the part B deductible goes up the premiums on plan F go up accordingly. Probably 200% of the increase.

But right now I'm Indiana for 65-year-old plan a half is only $120 more than plan G with Aetna. I've never seen that before. It's less than the part B deductible.

I'm sure in the long term plan G still going to be the better option for those people. But they are reeling them in on plan F right now.

 

[axeman462]

no real competitive plan G in FL. plan F or plan N seem to be the popular ones

 

[GreenSky]

If the part B deductible goes up the premiums on plan F go up accordingly. Probably 200% of the increase.

But right now I'm Indiana for 65-year-old plan a half is only $120 more than plan G with Aetna. I've never seen that before. It's less than the part B deductible.

I'm sure in the long term plan G still going to be the better option for those people. But they are reeling them in on plan F right now.

Agents that sell Plan F are simply creating inventory for me.

Rick

 

[somarco]

F get's hit twice (in a manner of speaking). They absorb B increases and they get the GI cases.

 

[Chazm]

I think F is king here

 

[Longtimeagent]

I think F is king here

F is king where? Anywhere AARP is sold? Anywhere that the clients have an option....Plan G is the best one hands down.
People have been spewing this Part B deductible skyrocket for years now....look at it only at 147$. If the Part B deductible goes to 350$ at the current rates of F and G then it's still a better deal. And as the other person mentioned, if that deductible goes to 350$ then the plan F will jump up accordingly. Put someone in a plan F near me and I thank you.

 

[GreenSky]

I don't have a good Plan G option in CA. The premium difference is just too little compared to Plan F.

So my option is Plan N. With one carrier I've placed 28 cases in the past 3 months. 25 of them are Plan N; 3 are Plan F.

Rick

 

[sman]

F is king where? Anywhere AARP is sold? Anywhere that the clients have an option....Plan G is the best one hands down. People have been spewing this Part B deductible skyrocket for years now....look at it only at 147$. If the Part B deductible goes to 350$ at the current rates of F and G then it's still a better deal. And as the other person mentioned, if that deductible goes to 350$ then the plan F will jump up accordingly. Put someone in a plan F near me and I thank you.

Chazm is in Florida. Hop on down to Florida and try and write Plan G. Let us know how that goes.