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Old 06-23-2010, 02:50 PM   #11
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Plan N Co-payment Re: Plan N Co-payment
Also remember that the Plan N does not pay the part B excess.
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Old 06-23-2010, 03:15 PM   #12
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GreenSky on Plan N Co-payment - Insurance Forum
 
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Plan N Co-payment Re: Plan N Co-payment
Originally Posted by medx View Post
Also remember that the Plan N does not pay the part B excess.
That is an issue in about 1% of the cases and rarely amounts to more than a few dollars. Certainly not worth insuring if it costs more than a few cents each month.

Rick

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Old 06-23-2010, 04:00 PM   #13
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Norwayguy on Plan N Co-payment - Insurance Forum
 
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Plan N Co-payment Re: Plan N Co-payment
Originally Posted by GreenSky View Post
Agreed but if the difference between F and N is $250-350 a year, it may be in the client's best interest to go for the lower priced plan. Especially if you wrote the Plan F and I can "steal" it by moving them to Plan N. (Most of my clients are Plan F).

Rick
$250 difference in premium per year between F and N. I don't know if I would recommend a client to go from F to N because after the $155 part b Deductible your savings is only $95 a couple of Dr visits (and what senior doesn't go a couple times a year) and the savings are spent...and health goes downhill they may be stuck on N and spending way more than the savings.

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Old 06-23-2010, 04:12 PM   #14
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billyg on Plan N Co-payment - Insurance Forum
 
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Plan N Co-payment Re: Plan N Co-payment billyg is the thread starter for: Plan N Co-payment

Originally Posted by Norwayguy View Post
$250 difference in premium per year between F and N. I don't know if I would recommend a client to go from F to N because after the $155 part b Deductible your savings is only $95 a couple of Dr visits (and what senior doesn't go a couple times a year) and the savings are spent...and health goes downhill they may be stuck on N and spending way more than the savings.
My experience with most of my customers is that there is usually a $250+ difference between Plan F and Plan G, a little more for Plan D. the difference between Plan F and Plan N is usually greater; however, I tend to agree with you. Recently had a healthy customer which I presented with rates for Plan D and Plan N. The difference in premium was about $4.00 per month. While he was pretty confident he would save about $50/yr on Plan N for the next year, maybe two, he also recognized that if something serious came up, he could have his savings eaten away pretty quickly. As he said, he buys insurance when he is healthy to cover the times he is not. So he decided to purchase the Plan D and felt that was the best value.
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Old 06-23-2010, 04:17 PM   #15
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GreenSky on Plan N Co-payment - Insurance Forum
 
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Plan N Co-payment Re: Plan N Co-payment
And as the health goes downhill after a few years, the premium differential will also become greater as a 20% increase in both plans will net another $50-75 annual savings using the $250 annual differential.

I pointed out that the difference could be $250-350. In my zip code, the difference is more like $600 a year. It would take a bunch of office visits at $20 max to total $450 (net of $600 annual minus the $155).

I'm certainly not saying that Plan N works in every instance only that if someone has Plan F and I can save them $450 to move to N, I will likely write the business where someone who only looks at F would most likely not gain a client.

There will be a final exam about this subject tomorrow as part of the entrance into the 1000 mile club. I suggest you study.

Rick
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Old 06-23-2010, 06:30 PM   #16
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Norwayguy on Plan N Co-payment - Insurance Forum
 
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Plan N Co-payment Re: Plan N Co-payment
Originally Posted by GreenSky View Post
And as the health goes downhill after a few years, the premium differential will also become greater as a 20% increase in both plans will net another $50-75 annual savings using the $250 annual differential.

I pointed out that the difference could be $250-350. In my zip code, the difference is more like $600 a year. It would take a bunch of office visits at $20 max to total $450 (net of $600 annual minus the $155).

I'm certainly not saying that Plan N works in every instance only that if someone has Plan F and I can save them $450 to move to N, I will likely write the business where someone who only looks at F would most likely not gain a client.

There will be a final exam about this subject tomorrow as part of the entrance into the 1000 mile club. I suggest you study.

Rick
I'm not questioning you on your recommendation of Plan N. If I recommend plan N its because I know I have a fall back plan if my clients health spirals downward, I would go first to Anthem say Plan F(No Med Questions) then after 12 months GI it across to whomever is the best plan price wise.

And please don't say I'm churning.
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Old 06-23-2010, 09:06 PM   #17
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Plan N Co-payment Re: Plan N Co-payment
Just curious (I don't sell medicare anything). How often do excess charges come up? Would the doc fix not getting funding make this better or worse or no issue?

Dan
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Old 06-23-2010, 09:11 PM   #18
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G.Gordon on Plan N Co-payment - Insurance Forum
 
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Plan N Co-payment Re: Plan N Co-payment
Excess benefit coverage is a non-issue IMO. When you understand the low likelihood of someone finding a doc that will charge under "excess charges" and then do the math that plans F and G only cover 100% of the 13.5% markup allowed under medicare guidelines.
- - - - - - - - - - - - - - - - - -
On another note. Most of my N clients are saving a minimum of $50/mo with some saving as much as $100/mo.

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Last edited by G.Gordon; 06-23-2010 at 09:13 PM. Reason: Posts merged
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Old 06-23-2010, 10:04 PM   #19
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Plan N Co-payment Re: Plan N Co-payment
Originally Posted by G.Gordon View Post
Excess benefit coverage is a non-issue IMO. When you understand the low likelihood of someone finding a doc that will charge under "excess charges" and then do the math that plans F and G only cover 100% of the 13.5% markup allowed under medicare guidelines.
But if they take a 20% or so cut from not implementing the doc fix, can they make it up, at least somewhat, by excess charges?

Reason I ask (besides my mother in law asking me) is that the savings from not extending the doc fix has already been spent (part of how they paid for Obamacare). The extensions on the doc fix are deficit spending and I think it's getting tougher to pass the short extensions they are doing.

I just don't have a feel for the likelihood of excess charges, now or in the future.

Dan
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Old 06-23-2010, 11:26 PM   #20
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Plan N Co-payment Re: Plan N Co-payment
I like plan N for people not going to doctors, other than that I would sell what ever is cheaper in my area between plan D or G. G is the best price around me so I sell more.

Does any one know how to get what Medicare will pay doctors in one area? I have looked for this and can not find it.
Thanks
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