Medigap Plan D
Medigap Plan D a good deal?
People may consider a Medicare supplement/Medigap Plan D when they look at the other coverage compared with other plans like Plan G or Plan N.
When comparing the coverage, I can see why because it’s very similar to Plan G.
Just like Plan G is does not cover Part B deductible. But the big difference is that it doesn’t cover Medicare Part B Excess charges.
Are Part B Excess charges important?
Part B Excess charges happens when doctors or hospitals charge more than Medicare allows. They can charge an extra 15% on top of what Medicare allows.
Very few doctors charge these right now. The last study showed that to be about 3% of doctors nationally.
Some states don’t even allow Excess charges.
So it’s a concern. But probably not as big as most people fear.
Is Plan D a better value than Plan G?
So if you compare Plan D and Plan G, you will see Plan D is less comprehensive. But maybe the price is lower so it’s a better value?
Unfortunately, for most people this isn’t true.
Often times I’ve seen Plan D be more expensive than Plan G. Yes, a plan that is less comprehensive is MORE expensive than Plan G. Here’s a recent example for the same person comparing Plan G and Plan D.
Plan G = $101.80
Plan D = $107.27
Who knows why but it doesn’t make financial sense for you to pay more to get less.
If you don’t think you need Plan G but you want to save more then Plan N is a great option.
Now that we have settled Plan D is not a good option for most people we can look closer at G or N. But remember these plans are created equal by Medicare. Same doctors, same bills, covered in the same way. But the pricing can be very different.
Click the link below to schedule a free consultation with me. You will get a free Medicare cost summary showing you what companies offer you the best value for the type of plan you’re interested in.
Mike Lovell
608-571-4461