Is Medicare Supplement Plan G still the best in 2023?

The Medicare supplement plans for 2023 are on a lot

of people’s minds they want to know is Plan G still the best Medicare Supplement Plan.

My name is Brian Monahan and for the past 15 plus years, I’ve been working with people going onto Medicare for the first time and people already on Medicare looking for extra information.

In these videos, I try to show you raw data and numbers so that you can see which plan is best for you. I want to show you real quick this book that I just got done writing.  It’s called  “Medicare Without Confusion”.

This book is about 38 pages long and the font is really thick;  it’s about twice the regular font.  I also have charts, graphs and pictures in the book which really condenses it down to about 20 pages of what I believe are the most important things about Medicare.

It starts with how and when to sign up for Medicare. It’s not just for people who are turning 65; it goes all the way down to the trial rights, which I think are some of the most important things when you’re going on to Medicare.   If you look at some of the chapters there might be something that you’re interested in.

     I go into the Medigap plans and the four parts of Medicare, but there’s a lot of good details in this book and it’s very short so you can get it by clicking the link. I wrote it because I wanted another way to get to people and show them that Medicare is not as confusing as they might think it is.

I would watch the video instead of reading this article because it was taken from a transcript and has a lot of grammatical errors.  The video has all the information you need.  Thank you!  

   So, let’s jump into the best Medicare supplement plans for 2023 and if you’ve seen any of my other videos, I’d like to break down three of the top plans. AARP and United Healthcare Plan G are one of the best Medicare plans in 2023 according to some baby boomers. Others think that Aetna and Cigna are better at customer service.

The best Medigap plans are Plan G, Plan N and Plan High Deductible G.  That is not going to change in the next couple of years in my opinion. The reason for this is all the rest of the plans are confusing with different copays and so forth. With these three plans you have different price points and they’re very clean, so unless you were eligible to start Medicare prior to 2020, these are the three plans for you.

If you were eligible for Medicare before 2020, you can think about the Medicare supplement F plan, and if you call my office, of course we’ll explain that to you, but for this video I want to get into these three plans. 

So first is Medigap Plan G.  What I did was I took an average of different states throughout the country and for a 65 year old, I did the average and put it into what the Plan G, the Plan N and what the Plan High deductible G premiums would be.  

Now some people look at this and they say, “Oh I’m from California so I’m 65.  I’m going to be paying $145.00!”.  This is not true. California is a huge state and some places might be a hundred dollars.  Some places might be $250.00 for someone who’s 65, this is just an average so don’t go off of the exact numbers on the screen.  For this video I took the averages and for the Medicare supplemental Plan G the premium you’re going to pay is around $140.00 per month. 

  What that includes is everything that’s inpatient and outpatient except for $226 dollars in a deductible. You pay 140 dollars per month then you pay the first 226 dollars and then everything inpatient and outpatient will cost you zero.  This includes hospital surgeries, ambulances, doctors, specialists, physical therapists and CAT scans.  You’ll get MRIs, skilled nursing ( up to 100 days) at zero cost.  The only thing that this does not cover as well as the other two plans, Plan N and Plan High Deductible G, is a drug plan and dental, vision and hearing. 

Over here I’ll slide this over but the drug plans range from about five dollars a month to 35 on average.  What I’ve seen is a lot of people that signed up for a drug plan, they also got a Medigap plan, paid eleven dollars a month or  possibly twenty dollars a month.  On average I’d say it’s between $10 and $20 depending on your drugs. 

Dental, vision and hearing on average will be either $40, $50 or $60 dollars per month depending on which plan.  I always tell people to talk to your dentist first and see what they take, then decide on a dental plan. 

When you pay your premium of $140, then you pay the deductible of 226 dollars; if you look down here, there’s no co-pays.  You’ll pay $140 x 12 12 months that will equal $1,680 what you’ll pay then you add the $1680 plus 226 and that will be your maximum out of pocket.  The (moop) maximum out of pocket will be $1,906 dollars for the year.

 You will pay nothing else going to the hospital, doctor, specialist nothing. So Plan G is very very clean. Now people have called me and they have said to me, “Hey, in your videos it looks like your plan G is the one plan that you really really like”.  Well to be honest with you these are my top three favorite plans and I like all three of these and from what I’ve seen in the past couple months a lot of people call me up and say I know I want to Plan G and that’s it.  Some people will say I’m trying to make a decision on a couple different plans and a lot of these people end up going with a Plan N. Some of them I am a highDeductible G so let me get into those two plans.

 So the Plan N the premium on average will be about 106 dollars per month now as you can see that’s about 35 dollars less than the Plan G per month so what do you get with this well there’s three different things about The Plan N then the Plan G one the first thing that’s the same is you’ll pay that 226 dollars as you can see right here you pay that deductible first then you will pay up to twenty dollars each time you go to the doctor now some doctors don’t charge for this some charge 20 some charge 10 but it’s up to twenty dollars each time you go after that. 

There’s only two other things that are different from Plan G, this is you have to pay fifty dollars going to the emergency room with Plan N but if you’re admitted you pay nothing and the other thing is an excess charge now, I want to say this I want to reiterate this over and over in videos, it’s less than three percent of the doctors in the entire country have an excess charge, and there’s many states that do not charge an excess charge by law no doctors can but less than three percent what that is is they can charge up to $20 excuse me up to $15 on top of medicare’s.

A lot of the amount that they can charge, so if Medicare charges a hundred dollars for a doctor’s visit the doctor can charge a hundred and fifteen dollars but you’re not responsible for the $100 of this so you’re not going to pay that much with these excess charges in my opinion and that’s my opinion and also less than three percent so it’s highly unlikely. 

I’ve been doing this for over 15 years. No one has ever called me (of my clients that are on the plan) and said, “I was charged an excess charge” just to let you know.  So the key differences here are with plan N the premium if  you pay a hundred and six dollars times 12 that will be one thousand two hundred and seventy two dollars now let’s say you have to you go to the doctor a couple times you’re going to pay that deductible that’s $1272 plus $226 dollars for the deductible that’s $1498. Now look at the difference here: $1498 I’ll just change this to a four real quick. That’s after you pay the deductible , you’re about four hundred dollars less than a G Plan so it depends on how many times you go to the doctor and if you go to the emergency room. Let’s say you only go to the doctor three times for the whole year. That’s going to be $14.98 plus $60.00. That’s the total amount if they charge this. 

Some might charge twenty dollars some might charge five dollars and it could only be fifteen but let’s say they charge the full sixty so this would be approximately one thousand five hundred and sixty I’ll just round it off to make it simple so you’re still like $350.00 for the year Less on the plan N than you are on the Plan G. A lot of people have called me this year and said I want to get on plan N as opposed to Plan G and it’s because they didn’t want to spend the extra money up front. 

I can totally understand that. Like I said all three of these plans are fantastic so anyone that you choose is good for you I guess you would say. There are places such as West Chester Pennsylvania and Tampa Florida where the gap plans in 2023 are great. California and Arizona have better gap plan prices than New York but Michigan and New Jersey are fine.

So, let’s jump into the Medigap Plan High Deductible G now.  The premium for this forty dollars on average this is a hundred dollars less than regular Plan G now this plan from what I see the reason why people get on this plan is because they do not want to pay that extra hundred dollars up front obviously that’s twelve hundred dollars more a year, but a lot of times they say you know what I’m healthy I don’t go to the doctors that much I want the protection and the coverage of the Plan G but I don’t want to pay that the higher premium well this gives you exactly that the protection and the coverage and the high deductible is twenty seven hundred dollars so that’s how much the total you will pay for the year so let’s just say you went up to 2700 will you take your forty dollars and we’ll go down here times 12 would be four hundred and eighty dollars you add that to the 2700 and you could possibly pay but let me go back 

So what this means is 2700 and I put it under doctor but it’s not doctor it’s everything. If you go to the doctor let’s say and the doctor charges a hundred dollars for the visit you’re only going to pay 20 of that. Medicare is going to pick up the  80. you’re going to pay 20 percent towards this 2700 so you would pay 20 dollars then let’s say you went to the hospital and it was a thousand dollars you would pay that 20 which would be two hundred dollars so now you’re looking at you’re still nowhere near 2700 you would just add that to the premium you payed and that would be your total out of pocket. 

So odds are that this could be way less than both of these plans, but if something were to happen to you and you where to go into the hospital have surgery you need to to uh you know go back and forth to Specialists and so forth you could be paying more you could be paying who knows $1800 this number fluctuates but it is catastrophic coverage if you don’t want to pay as much in premium up front. 

You want the benefits of Plan G.  So these are the top three plans for 2023. It depends if you are in New Jersey or Pennsylvania if you get a cheap medicare plan g. If you are in Arizona and California it could be tough. Colorado and Michigan are great for Transamerica and United American high deductible plan G says some people.

Now another thing that I did in one of my videos is I went over the Medicare Advantage versus the High Deductible Plan G and I got a lot of phone calls from people this year one of the things that they said there was a lot of videos made that people make more money on the advantage plan the commissions and so forth one thing about my company is we do not think about commissions when we’re dealing with people that is the surefire way to get a bad name as a company. We will not do that but I will write an advantage plan if somebody wants to look at it.

  Now Advantage Plans, I go over the advanced plans in their area and I just tell them the high deductible Plan G and the advantage plans are kind of in competition with one another.  What I mean by that is they both have low premiums but they both when you go and do things will cost you now some people will leave comments and say, “I had a Medicare Advantage and I only spent this amount of money” but I’ve also gotten calls that have said hey “I went to a Medicare Advantage and I spent way more money than I ever imagined and now I want to get on a Medigap plan!”.  

The problem is they have to go through underwriting and some people do not pass they cannot go into the Medicare supplement plans also known as the Medigap plans now. 

I’ve done videos on these different things about “Trial rights” and how you can get into a Medigap plan. I’ll leave some of those links below but just keep that in mind when you’re looking at different plans.

Please watch the playlist of all Medicare videos: Youtube Playlist

Medicare Liars video: Medicare Plan G

Disclaimer: This video and blog post are for entertainment purposes only. If you want advice on Medicare or any of its plans, please speak to a licensed agent, whether it is me or another licensed agent. No advice should be taken from this video or blog post. If you don’t speak to me about your individual concerns, I can’t give you my 100% opinion. Brian Monahan and Medicare 365 are not responsible for any actions that you take without consulting with a licensed insurance agent.