Medigap Plan F vs. Plan G: What is the best option?
What would be most important for you if you bought a new car, the brand name or the actual performance of the car? Assuming you prefer Volvo as a luxury brand (this could be your personal preference). What about Lexus? It may have the same quality, performance, stability, and features; the only distinction here is the brand. What car would you go for? What would be your decision? Understandably, buying a car is not the same as buying a supplemental Medicare plan, but for now, let’s continue with this example.There are 10 Medicare supplement plans as well as a highly depreciable version of the F plan. However, the initial F plan have become the official Medicare champion supplements and left all other plans in the dust.
Plan F has been considered the best supplement plan and luxury plan among Medicare supplement plans. Meanwhile, many consumers are not officially registered in Rule G. There are several reasons why this nearly identical rule has been compressed into sales presentations.It’s cheaper, so the agents will make a smaller commission i.e. plan G is not as profitable as the expensive F plan.
- The agents promote this plan as a challenge for a plan F; In other words, consumers fear that plan G will require more effort.
Let’s see reason number one. The average price difference between F and G plans is between $ 20 and $ 30 (this is not a practical average, but a personal assessment). That is a tangible savings of about $ 300 per year or, as an agent, $ 60 less than a commissioned F plan. It may not be worth it for the agent program, but if you sell 100 sources every 6 months, you will earn about $ 6,000. Is it worth the sound now?
If the agent really finds the best plan to respect his health, it will not dissuade him from leaving plan G.It can be difficult to change your mind about F plan. Many people think that plan F is the only plan that is worth their money. Part D deductions are the difference between the F and G plans. This allowance costs $ 147 per year and must be used in full before your courier or Medicare guarantees everything. Let’s do a little more math. If switching to a G plan can help you save $ 25 a month, you’ll still save $ 153 a year, even if you pay the $ 14 deductible per year.
It’s a mystery, but some people do not want to shell out $ 147 a year (because it’s a deductible, you do not have to send any bill) between $ 20 and $ 30 a month for Medicare Supplemental Plans 2020 here https://www.medicaresupplementalplans2020.org
.When my contacts feel comfortable, I try to direct them to plan G. I’m not always successful, but I hope Plan G is more popular in the future.