shotgunner
Full time employment: Posting here.
- Joined
- Jun 18, 2008
- Messages
- 538
I am rapidly approaching my six month window to select a Medigap policy to compliment my Medicare Part A and B. I have tried to read as much as I could to help with the decisions regarding Medicare and I have decided I want traditional Medicare vs. Advantage. I live in NH and I am trying to decide between a plan G or a plan G+ high deductible. I am aware that I may have to live with my choice going forward because of underwriting after the six month window closes.
At present I am a very light consumer of medical services, basically an annual physical and occasional screening like a colonoscopy. I do have mild asthma and GERD.
I have a telephone appoint with the NH SHIP representative to go over my choices on 1/4 and I will be working with an insurance agent that is well recommended after that.
The two plans I am considering is a plan G from Anthem BC/BS and a plan G+ from Humana.
Looking at the two plans, G and G+, strictly from the financial point of view I see that Anthem BC/BS plan G premiums would be $1200 more annually than a G+ (HD) plan from Humana. The G+ plan has an annual deductible of $2940 and then it would cover things the same as plan G.
If I go with the Humana G+ plan I would have $1200 of savings in premium that could go towards my $2940 deductible on the plan G+ if I should start racking up medical bills. That would put my out of pocket risk if I start consuming more medical services at $1740 annually ($2940 -$1200). If I don't consume much in the way of medical services as much as $1200 savings in premium stays in my pocket.
Financially speaking am I looking at this correctly?
At present I am a very light consumer of medical services, basically an annual physical and occasional screening like a colonoscopy. I do have mild asthma and GERD.
I have a telephone appoint with the NH SHIP representative to go over my choices on 1/4 and I will be working with an insurance agent that is well recommended after that.
The two plans I am considering is a plan G from Anthem BC/BS and a plan G+ from Humana.
Looking at the two plans, G and G+, strictly from the financial point of view I see that Anthem BC/BS plan G premiums would be $1200 more annually than a G+ (HD) plan from Humana. The G+ plan has an annual deductible of $2940 and then it would cover things the same as plan G.
If I go with the Humana G+ plan I would have $1200 of savings in premium that could go towards my $2940 deductible on the plan G+ if I should start racking up medical bills. That would put my out of pocket risk if I start consuming more medical services at $1740 annually ($2940 -$1200). If I don't consume much in the way of medical services as much as $1200 savings in premium stays in my pocket.
Financially speaking am I looking at this correctly?
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