Trending...
- California: Three years after the end of Roe, Governor Newsom, First Partner sound the alarm on Trump's "Big, Beautiful" plan to defund Planned Parenthood - 121
- Ascent Solar Technologies Enters Collaborative Agreement Notice with NASA to Advance Development of Thin-Film PV Power Beaming Capabilities: ASTI - 106
- Fact check: Claims swirling on California gas prices
LOS ANGELES - Californer -- When it comes to choosing Medicare Supplement plan options, new-to-Medicare beneficiaries are opting for lower cost plans according to the American Association for Medicare Supplement Insurance (AAMSI).
"Some 11,000 Americans turn 65 every day and become eligible for Medicare," explains Jesse Slome, AAMSI's director. "Medicare Supplement, or Medigap, remains a highly popular choice but there appears to be greater interest in lower cost options."
During the first six months of 2022, some 38 percent opted for Medigap Plan N. Just over half (51%) selected Plan G coverage. Nearly six percent enrolled in a High Deductible Plan G (HDG) plan.
The Association's report examining 2021 new enrollees reported that 36.5 percent Plan N, 55 percent selected Plan G, and 6.7 percent High Deductible Plan G.
"I expect the trend to lower cost options will continue for two reasons," Slome predicts. "First, consumers are being bombarded with Medicare-focused television ads touting free coverage and benefits making it harder to sell coverage that costs. Second, saving money is always a winner with many seniors who live on fixed or limited budgets."
More on The Californer
A Chicago-area female turning 65 can expect to pay $117 monthly for Plan G from a popular Medigap insurer. The same insurer offers Plan N for $86-per-month, amounting to a $372 annual savings. A Medigap HDG plan can be obtained for as little as $32 to $45-per-month. In Chicago, men can expect to pay more for similar coverage. Around $132-per-month for Plan G, $97 for Plan N and between $37 and $48 for HDG.
Plan G covers 100% of all Medicare-covered expenses once your Medicare Part B deductible has been met for the year. First introduced in 2010 as a way to offer lower cost options, Plan N has a few additional out-of-pocket expenses that policyholders will have to pay. These can include a nominal copay for doctor or emergency room visits. Plan N can also have one facing Excess Charges.
The 2022 survey of over 3,000 new-to-Medicare enrollees selecting Medigap plan coverage was conducted for AAMSI by MedicareFAQ.com a leading national provider of Medicare insurance plans for consumers nationwide.
The American Association for Medicare Supplement Insurance advocates for the importance of insurance protection. To access the latest Medicare insurance statistics, go to www.medicaresupp.org/medicare-insurance-statistics-2022/. AAMSI makes available a no-cost national online directory listing local Medicare insurance agents. The directory can be accessed via the organization's website at https://www.medicaresupp.org.
"Some 11,000 Americans turn 65 every day and become eligible for Medicare," explains Jesse Slome, AAMSI's director. "Medicare Supplement, or Medigap, remains a highly popular choice but there appears to be greater interest in lower cost options."
During the first six months of 2022, some 38 percent opted for Medigap Plan N. Just over half (51%) selected Plan G coverage. Nearly six percent enrolled in a High Deductible Plan G (HDG) plan.
The Association's report examining 2021 new enrollees reported that 36.5 percent Plan N, 55 percent selected Plan G, and 6.7 percent High Deductible Plan G.
"I expect the trend to lower cost options will continue for two reasons," Slome predicts. "First, consumers are being bombarded with Medicare-focused television ads touting free coverage and benefits making it harder to sell coverage that costs. Second, saving money is always a winner with many seniors who live on fixed or limited budgets."
More on The Californer
- Official Launch Of 'The Ambony' Marks A New Era In Sophisticated Digital Society Platform
- Inked & Maxim Model Teisha Mechetti Turns Heads—And Builds Community Impact
- California: TOMORROW: Make America Rake Again: Governor Newsom to make announcement on new wildfire prevention strategy targeting federal lands
- California: TODAY: Governor Newsom to sign historic bills to create more housing and infrastructure – faster than ever before
- Can This Simple Test Predict How Long You'll Live?
A Chicago-area female turning 65 can expect to pay $117 monthly for Plan G from a popular Medigap insurer. The same insurer offers Plan N for $86-per-month, amounting to a $372 annual savings. A Medigap HDG plan can be obtained for as little as $32 to $45-per-month. In Chicago, men can expect to pay more for similar coverage. Around $132-per-month for Plan G, $97 for Plan N and between $37 and $48 for HDG.
Plan G covers 100% of all Medicare-covered expenses once your Medicare Part B deductible has been met for the year. First introduced in 2010 as a way to offer lower cost options, Plan N has a few additional out-of-pocket expenses that policyholders will have to pay. These can include a nominal copay for doctor or emergency room visits. Plan N can also have one facing Excess Charges.
The 2022 survey of over 3,000 new-to-Medicare enrollees selecting Medigap plan coverage was conducted for AAMSI by MedicareFAQ.com a leading national provider of Medicare insurance plans for consumers nationwide.
The American Association for Medicare Supplement Insurance advocates for the importance of insurance protection. To access the latest Medicare insurance statistics, go to www.medicaresupp.org/medicare-insurance-statistics-2022/. AAMSI makes available a no-cost national online directory listing local Medicare insurance agents. The directory can be accessed via the organization's website at https://www.medicaresupp.org.
Source: AAMSI
Filed Under: Business
0 Comments
Latest on The Californer
- Von Rock Law Founder Deidre Von Rock Named Super Lawyer for 2025
- California: Governor Newsom extends emergency short-term housing protections in Los Angeles
- Von Rock Law Named SFGate's Best Probate and Estate Attorney in 2025
- Long Beach to Conduct Annual Summer Recess for City Council Meetings During July
- Plan to Launch Silo Technologies' Cybersecurity Pilot Program for Ultimate Nationwide Deployment via Exclusive Partnership: Stock Symbol: BULT
- Robert Michael & Co. Real Estate Team Celebrates Industry Recognition and Showcases Premier Central Florida Listings
- Montessori Stoppani Partners with Lifetime Montessori School
- Cymbiotika Celebrates 2025 Great Place To Work Certification™
- Long Beach: LA28 Announces Finalized Sailing Venue Plan for 2028 Olympic Games
- Individual Software Announces New Versions of its Four Typing Programs in 2025
- Britt Michaelian Brings Transformative Art & Wellness to The Ecology Center's Peace Dome
- California: Governor Newsom urges safety this Fourth of July after 600,000 pounds of illegal explosives seized
- AI-Based Neurotoxin Countermeasure Initiative Launched to Address Emerging National Security Needs: Renovaro, Inc. (N A S D A Q: RENB)
- The Naturist World Just Shifted — NaturismRE Ignites a Global Resurgence
- Mental and Emotional Self-Management, Practical Tools for Trauma-Informed Stress Management
- CGI+ Sells Multifamily Development Site in Los Angeles' South Bay to JPI for $40 Million
- MicroStrategy Incorporated (MSTR) Investors Who Lost Money Have Opportunity to Lead Securities Fraud Lawsuit
- Alten Construction awarded Encinal Junior and Senior High School project
- $796,000 in Q2 Revenue Marks Highest Earnings to Date on 3 Trailing Quarters of Profitability in Multi-Billion Homebuilding Sector: Stock Symbol: IVDN
- Cybersecurity is THE Hot Market Sector; Revenues, Earnings & Profit matter; Only 33 Million Shares + a Huge Short Position Equal an Undervalued Stock