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If I go with HD G plan, is there any way I can set up online to pay it without knowing who the receiver is?. Reason why I am asking is, at advanced age, I may not be able pay it myself, I may forget or for any other reason. Anyone here in late 80s or 90s with plan N or HD G or F plan, how are you paying the deductibles? or copays?
If I go with HD G plan, is there any way I can set up online to pay it without knowing who the receiver is?. Reason why I am asking is, at advanced age, I may not be able pay it myself, I may forget or for any other reason. Anyone here in late 80s or 90s with plan N or HD G or F plan, how are you paying the deductibles? or copays?
Thanks
United American has something called the Reserve Fund, where you have money on deposit with them (it earns interest) and it can be used to automatically pay the deductibles and copays.
Let me see if I can find the flyer on it.
Update - here is a flyer on the Reserve Fund. The flyer is several years old, but it will give you the gist of it:
For what’s it worth, someone posted on another forum about a year ago that they knew two people who had Medigap policies with United American and used the Reserve Fund. They both liked it and it worked as expected:
“He [the friend] recommended it highly, mainly because it simplified his medical bill payments. He showed me his last quarterly statement along with his Medicare statement - the charges for his deductibles were listed and payment was made on his behalf to the providers. He didn’t even have to write a check or visit a web site to pay online. The small amount of interest earned was credited. No fees charged. There is a limit of $5k per year deposited in the account with a $20k lifetime maximum.”
Last edited by CharlieAllnut; 05-28-2023 at 06:06 PM..
A very useful info. Now I have most of the info I need. Hope other carriers also offer this feature. This will definitely help us in advanced age, if our kids cannot around. The deposit will be earning minimum 3% interest and no fees. Also, $10 minimum balance has to be maintained. Only issue with this is this is eligible for ages 65-90. Hope they will increase the age limit as we need this feature beyond 90.
A very useful info. Now I have most of the info I need. Hope other carriers also offer this feature. This will definitely help us in advanced age, if our kids cannot around. The deposit will be earning minimum 3% interest and no fees. Also, $10 minimum balance has to be maintained. Only issue with this is this is eligible for ages 65-90. Hope they will increase the age limit as we need this feature beyond 90.
I have not heard of any insurance company other than United American offering something like this.
That doesn’t mean that it doesn’t exist, just that I have never heard of it.
The way I read the 65-90 age bracket requirement was that was just to open an account. That you could have it after age 90, but it just had be opened by age 90. Something worth looking into if you are really interested in United American’s Reserve Fund.
By the way, it appears that Medicare Nationwide has changed their business model. They no longer offer policies for United American and it appears they are no longer “gung ho” on high-deductible Medigap plans but strongly recommend Plan N instead.
If I go with HD G plan, is there any way I can set up online to pay it without knowing who the receiver is?. Reason why I am asking is, at advanced age, I may not be able pay it myself, I may forget or for any other reason. Anyone here in late 80s or 90s with plan N or HD G or F plan, how are you paying the deductibles? or copays?
Thanks
When you buy most likely set up direct debit from bank to insurance to pay monthly premiums.
For co-pays or deductibles get credit cart with cashback for medical uses. Got one from AARP/Barclays Master Card. Get 2% on Medical Expense, Doctor, Dentist, eyeglass, etc. Get 3% for Gas, Drugstore (not Target or WalMart). Most doctor/dentist accept cc then get rewards deposit back to bank.
If you shop Walgreen consider a myWalgreen card. Get 10% discount on Walgreen brand items in store. You get "credit" to make purchases in store or online.
So you pay current balance on CC each month to earn rewards.
With Plan F there should be no additional charges. You pay enough in premiums.
Thanks GWoodle for good information. I am planning to set up direct debit from bank account for premium, so I don't have to remember every month.
I called few companies that offer HD G plan in Maryland including an agent for Philadelphia American. They all explained HD features well. The agent didn't sell other plans or Advantage plan, even though he represents many companies and markets all plans. He said HD G offers best value. He asked me to call hime, after I enroll in Part B. He can enroll in HD_G online on the same day. Following are the premiums for 70 year old non tobacco user in Maryland, all direct debit from bank account
Until 80 years, Philadelphia American rate is lowest. Then Globe and United American rate is flat and lower. I saw the premiums for last few years. Globe and Philadelphia have not increased. Surprisingly, United American rate increase is very steep in Maryland and they have almost 5K customers. Maryland has passed Birthday rule and is effective from July 1st this year. I am not sure that is baked in to the premiums for 2023 or will be in 2024. So, people in states where they cannot change the policy, they should consider premiums up to 85 years and not just current. These premiums will change over times, but for now, it's use full.
First Care: 61
Globe: 44.50
Philadelphia American: 42
United American: 58
I contacted directly, FirstCare Medplus a BCBS company and Globe. very good service. They explained how HD-F works and gave me quote of 62 and 44.50 for a 70 year old. I called Philadelphia First, they took my contact info and gave an agent number in my area. When I called, he explained the details and said HD-G has the best value and he can enroll me on Medigap same day and the cost was $42.00/month. I called United American, after waiting for 7-8 minutes, I was transferred to marketing, another 8-10 minutes wait and spoke to someone. She took details and said an agent will call me. Never heard from the agent. Already 8 days passed. Looks like their customer service is sloppy. If they don't call me for enrolling, if for any reason, I need their help in future, I may not get.
Looks like Globe or Philadelphia American are my choices now. Globe increases over 20% at 75 and 80 years and Philadelphia just 10%. Not sure about customer service at Philadelphia American or its parent company New Era Life Insurance. Any one has experience with either one of them or sticking with Globe is better?.
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