Page 65 - September 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
monthly premium for an “F”, or a “J” is decreasing coverage. It is decreased
DĞŵŽƌLJ ĂƌĞ
does not balance out with the cost of coverage since “F” and “J” both paid this
^ƉĞĐŝĂů ŝĞƚ Θ ŝŶŝŶŐ ƐƐŝƐƚĂŶĐĞ
the annual part B deductible, which this part “B” deductible, and the” G” does
WŽƐƚͲƌĞŚĂďŝůŝƚĂƟŽŶ WĂƌƚŶĞƌƐŚŝƉƐ year is $226. It makes sense for someone not! That individual can, and should, go

ǁŝƚŚ ŽĐƚŽƌƐ ĂŶĚ dŚĞƌĂƉŝƐƚƐ with a “G” for the best coverage with a
who currently has one of those policies
ĂŶĚ ŵƵĐŚ ŵŽƌĞ͘͘͘ to decrease their coverage by changing substantially lower premium!
www.arcadia-living.com to a standard “G”.
Another example would be that those

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

2023 and means you fork out the 20% that deductible from your out-of-pocket
Come Home to Arcadia copay, plus the $226 Part B Medicare costs. But first, examine the frequency

deductible, until that $2,700 is reached! of your doctor visits and services. Do
the plans type, that individual can Unless your health is perfect and you the math. Evaluate your healthcare
needs to decide if the co-pays of $20
not increase their benefit coverage. only see your doctor for an annual
Beneficiaries must enroll in a policy visit, and you expect to basically need per provider visit and $20 for services,
that has equal, or less, coverage. Th is only catastrophic coverage for the rest plus $50 per ER visit, are more suitable
is not an opportunity to increase of your life, the lower premiums of to your budget than the high deductible
benefits. Equal means the policy you the high deductible generally do not of $2,700 that must be met in the high

are changing to has the same signifi cant offset your out-of-pocket costs of high deductible “G”.

benefits in the supplemental plan you deductible “G”. More good news is that those currently
currently have. The intention of the The standard “G” only requires the insured by a standard “N”, or even a
Birthday Rule is to make supplemental high deductible “N”, can shop around
one-time per year part “B” Medicare
insurance more affordable, not increase

deductible to be paid out of pocket by for a lower premium and switch their
coverage. By making a lateral move to
the beneficiary before full coverage kicks “N” to the same “N” plan with another

an equal plan, one will be paying a much
in. Once that $226 deductible is met, company! You are not required to
lower monthly premium for that same Benes have zero out-of-pocket expense answer any medical underwriting
coverage.
for care! One is only responsible for questions, except the smoking question.
One positive example of decreasing the monthly Supplement premiums Please note that it is advisable to avoid
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
the annual part “B” deductible. Since Medicare Beneficiary) will only be before your standard out of pocket
both plans are now closed (meaning paying the “G” premium since your B costs kick in. Remember that the
beneficiaries can no longer buy into premium is covered by the state. smoking limitation and age attained
premiums will apply when you switch.
these plans) those currently enrolled in Bottom line is that those who choose
them are paying very high premiums to It is worthwhile to do some shopping
to dump their “F” or “J” and switch to
meet the cost of that feature. Currently, a “G” are permitted to do so because it
the extra premium cost built into the
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