Medicare Part B Deductible Projected to Rise

[kgmom219]

You answered your own question...

I know what I think (most of the time).

I want to know why WC disagrees

 

[WCMason]

I know what I think (most of the time). I want to know why WC disagrees

Hi kg--I don't disagree, which I think is the point SAI was making. I may not have stated it clearly though.

 

[somarco]

WCM can answer when he returns, but my interpretation is, the agent is using the "plan F will go away" as an excuse to create a "clearance sale" illusion. Buy now while you still can.

You don't have to wait until 2020 for F rates to rise. They will increase this next year as the B deductible increases by $76. I would anticipate F premiums rising by $100/yr in 2016 alone.

 

[agentjhc]

The Feds seem to have a love-hate relationship with Med Advantage, and they don't like some Supps, and a few want to combine the deductibles, do they just want seniors to have Medicare only?

 

[WCMason]

In the last couple of weeks I have had three clients ask me whether they should apply to begin receiving Social Security benefits before the new year (earlier then they had intended) in order to avoid this Part B increase, all of them currently paying a higher amount due to IRMAA. My response has been that the reduction in benefits from taking Social Security earlier than their FRA (their own and survivor) may more than offset the increase in part B premium. Has anyone else gotten this question from clients? And, if so, what are you telling them?

 

[Daytona_Guy]

In the last couple of weeks I have had three clients ask me whether they should apply to begin receiving Social Security benefits before the new year (earlier then they had intended) in order to avoid this Part B increase, all of them currently paying a higher amount due to IRMAA. My response has been that the reduction in benefits from taking Social Security earlier than their FRA (their own and survivor) may more than offset the increase in part B premium. Has anyone else gotten this question from clients? And, if so, what are you telling them?

Those subject to IRMAA will not be saved by the Hold Harmless provision, anyway, so they should continue to defer.

 

[John Galt]

I occasionally get the question about what happens if the Part B deductible goes up and whether Plan F is a better choice as a hedge against that. But Plan F will increase by at least the amount of the Part B increase it is paying for. Then there is the premium increase problem Plan F beneficiaries will encounter in the years after it becomes a closed book in 2020.

Conclusion: Plan G still a no brainer over F, now more than ever. I use a part of my fall seminars to address the "Plan F is best" myth and get people to leave it every seminar. This fall, with the closed book future of F, it's going to be a stronger message to get the hell out of it now if can qualify. I did have one agent tell me she uses Plan F's elimination as a selling point for it. Get it before the government takes away your right to it. Horrible advice in my view, but it has a real appeal with a certain segment.

I guess there are uneducated stupid prospects in every segment of insurance, great info, thanks

 

[Zeviax]

Plan G is not a "no brainer" any more.. Hmmm.
Maybe Plan F is the better value in some markets.

If you care to send me a list of your Plan F clients I'd be happy to educate them on the difference between F & G and use this Part B deductible increase as my reason to change.

 

[WCMason]

Those subject to IRMAA will not be saved by the Hold Harmless provision, anyway, so they should continue to defer.

Thanks. Good to know.

 

[axeman462]

umm.. I just read this blog post. Did I understand this correctly? T65 people in 2016, going on Medicare for the first time will have a PT B premium of $159.30?

Are Your Clients' Part B Premiums About to Skyrocket? - Ritter Insurance Marketing