Page 49 - July 2023 Issue.indd

SHORE MEDICARE SOLUTIONS LLC

Marti Wright • Owner
Independent Insurance Broker

Over 25 Years Experience with
ĂŝůLJ ĐƟǀŝƟĞƐ
RN on Call Medicare Supplement Insurance
,ŽŵĞ ŽŽŬĞĚ DĞĂůƐ͕
^ŶĂĐŬƐ Θ ĞǀĞƌĂŐĞƐ Phone: (410) 443-1169
>ĂƵŶĚƌLJ Θ ,ŽƵƐĞŬĞĞƉŝŶŐ Email: shoremedicaresolutions@gmail.com
>ŝĐĞŶƐĞĚ ƚŽ WƌŽǀŝĚĞ
ĂƌĞ ĨŽƌ >ĞǀĞůƐ ϭ͕Ϯ͕ϯ
DĞŵŽƌLJ ĂƌĞ them are paying very high premiums to Bottom line is that those who choose
meet the cost of that feature. Currently, to dump their “F” or “J” and switch to
^ƉĞĐŝĂů ŝĞƚ Θ ŝŶŝŶŐ ƐƐŝƐƚĂŶĐĞ
the extra premium cost built into the a “G” are permitted to do so because it
WŽƐƚͲƌĞŚĂďŝůŝƚĂƟŽŶ WĂƌƚŶĞƌƐŚŝƉƐ
ǁŝƚŚ ŽĐƚŽƌƐ ĂŶĚ dŚĞƌĂƉŝƐƚƐ monthly premium for an “F”, or a “J” is decreasing coverage. It is decreased
does not balance out with the cost of coverage since “F” and “J” both paid this
ĂŶĚ ŵƵĐŚ ŵŽƌĞ͘͘͘
the annual part B deductible, which this part “B” deductible, and the” G” does
www.arcadia-living.com year is $226. It makes sense for someone not! That individual can, and should,

who currently has one of those policies go with a “G” for the best coverage with

to decrease their coverage by changing a substantially lower premium!

to a standard “G”.
Another example would be that those
Come Home to Arcadia I do not refer to a high deductible with a high deductible “G” could drop
“G”, which has a $2,700 deductible in coverage to a regular “N” to eliminate
There are other crucial guidelines 2023 and means you fork out the 20% that deductible from your out-of-pocket

in the new Birthday Rule. It is very copay, plus the $226 Part B Medicare costs. But first, examine the frequency
important to know that if one chooses deductible, until that $2700 is reached! of your visits and services. Do the math.
to change the plan type, that individual Unless your health is perfect and you Evaluate your healthcare needs to decide
cannot increase their benefi t coverage. only see your doctor for an annual if the copays of $20 per provider visit
Beneficiaries must enroll in a policy visit, and you expect to basically need and $20 for services, plus $50 per ER
that has equal, or less, coverage. Th is only catastrophic coverage for the rest visit, are more suitable to your budget
is not an opportunity to increase of your life, the lower premiums of than the high deductible of $2700 that
benefits. Equal means the policy you the high deductible generally do not must be met in the high deductible “G”.

are changing to has the same signifi cant offset your out-of-pocket costs of high
benefits in the supplemental plan you deductible “G”. More good news is that those currently

insured by a standard “N”, or even a
currently have. The intention of the
The standard “G” only requires the high deductible “N”, can shop around
Birthday Rule is to make supplemental
one-time per year part “B” Medicare for a lower premium and switch their

insurance more affordable, not increase
coverage. By making a lateral move to deductible to be paid out of pocket by “N” to the same “N” plan with another

an equal plan, one will be paying a much the beneficiary before full coverage kicks company! You are not required to
lower monthly premium for that same in. Once that $226 deductible is met, answer any medical underwriting
Benes have zero out-of-pocket expense questions, except the smoking question.
coverage.
for care! One is only responsible for Please note that it is advisable to avoid
One positive example of decreasing the monthly supplement premiums decreasing to the high deductible “N”
coverage would be if an individual and part B premium! Additionally, if at all possible, since you will have
currently has an “F” or a “J” supplemental those who are participants in the to meet that high deductible this year

policy. Both plans were structured to pay SLMB program (Specified Low Income before your standard out of pocket
the annual part “B” deductible. Since Medicare Beneficiary) will only be costs kick in. Remember that the
both plans are now closed (meaning paying the “G” premium since your smoking limitation and age attained
beneficiaries can no longer buy into “B” premium is covered by the state. premiums will apply when you switch.
these plans) those currently enrolled in It is worthwhile to do some shopping
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