Which Option is the Best One When You Retire?
Are you confused about which plan you should go with when you retire? We speak to people all the time who think that it is in their best interest to go with the plan their employer has contracted. It is going to be in your best interest to see what else is available.
If the agent you are talking to is only talking about a Plan F, then they are doing you a great disservice. Plan F is going away in 2020, and the rate of increase is going to be double digits year after year. You are also going to pay more each year than you should, just to avoid paying the $183.00 deductible. If you do the math it is clear.
This is just an example, as rates are subject to your area and your specific situation.
Plan F is going to be $30.00-$45.00 more expensive than a Plan G. The only difference between Plan F and Plan G is Plan G requires you to pay the Part B annual deductible. This year it is $183.00. After the deductible has been met, it's then that the plans are the same. No co-pays, no maximum, or limitations. After the deductible has been met, your Plan G has become a Plan F. You multiply $35.00 times 12; you will pay $420.00 more in premiums taking Plan F versus Plan G. If you subtract the $183.00 deductible from the $420.00 you still save $237.00 in the first year alone.
This is not taking into account the premium increases each year. If an agent is only talking about a Plan F, they are looking out for their wallet, not your best interest.
In closing, just because it is from your employer does not mean it is the best for you. Give me a call and let me go over all of your options. I promise you will get unbiased information; I will go over everything, the Good, the Bad, and the Ugly of all aspects on Medicare.
Call us: (803) 851-0219
Email us: Randy@thehgogroup.com