Seize the Opportunity
Next time you’re with a client interested in purchasing a Medicare supplement, consider Plan G. While Plan F still has the most enrollees across all standardized Medicare supplement plans, G enrollments are on the rise. It’s easy to see why — the only difference in benefits is that G does not cover the Part B deductible.
Benefit | Part A Deductible | Part B Deductible | Extended Hospital | Blood | SNF Care | Hospice Care | Care Outside U.S. |
---|---|---|---|---|---|---|---|
Plan F | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
Plan G | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
Try adding the Part B deductible amount next time you quote a plan with a client. For example, if a Plan F costs $2,500 and a Plan G costs $2,000, add $183 to the Plan G quote and highlight that Plan G is still the cheaper option with the same benefits. Remember, the Part B deductible is only paid once per Medicare calendar year.
Quote annual premiums for both plans
Plan F: $2,500
Plan G: $2,000
Add the Part B deductible to the Plan G premium
Plan G Premium $2,000
Part B Deductible + $183 (subject to change)
$2,183
Calculate the annual difference
Plan F Premium $2,500
Plan G + Part B - $2,183
Total Savings $317