Medicare Supplement Premium Savings
Medicare beneficiaries want to protect their health and finances. Surprises are not welcome. Below are some options available to help your clients save premium dollars on a Medicare supplement plan.
Cost-Sharing Plan N
Plan N keeps premiums low through cost-sharing. Policyholders pay the Medicare Part B deductible and potential copayments for office and emergency room visits, as well as any excess charges (which only apply in rare circumstances). Plan N can be a good fit for your clients when:
- Applicant wants to reduce premium liability
- Applicant prefers to pay a lower premium in exchange for the possible out-of-pocket expenses associated with the Part B deductible
- Applicant is accustomed to cost-sharing or coming off of an employer’s health insurance plan
High Deductible Plan G
High Deductible Plan G (HDG) is another cost savings option for your clients. HDG provides the same coverage as Plan G, once the policy’s deductible amount ($2,490 in 2022) is met. The difference is the lower premium amount for HDG versus Plan G. So, your client may save on HDG if they generally have low annual health care costs.
Additional Premium Savings – Household Discount
In most states, Mutual of Omaha offers a Medicare supplement 7% to 12% premium discount for eligible people living together. So be sure to ask applicants about others in the household. You can save them some significant money, which will help attract and retain policyholders.