The High Deductible Plan F is the best supplement (also called Medigap) plan option available in Connecticut. If you go by the math, it should be the first supplement choice of anyone purchasing a supplement in Connecticut? So why isn’t everyone buying it?
Lets start by looking at the plan. The concept of a High Deductible plan F supplement (sometimes called Medigap) is a simple one. The plan covers you at 100% once/if you spend $2,110 in Medicare A and B costs. In other words, with the high deductible F plan, your Original Medicare is primary. All Medical expenses are billed to Medicare A and B. The cost share of A and B (Deductible on part A and a 20% cost share on part B services) are then sent to the supplement plan. The supplement adds up the expenses and then starts to pay at 100% if the member spends $2,110 out of pocket during the year.
The math is unbeatable for an Anthem High F supplement in CT. The most someone can spend on this plan for Medical expense is $2,506.00 worst case scenario. ($33.00 monthly premium x 12 = $396 = $2,110 deductible = $2,506.00. To compare, the lowest cost plan F supplement is $216 a month which is $2,592 of premium a year. With the regular plan F supplement, you are guaranteed to pay that amount no matter what. With the high deductible F, the most you can pay is $2,506.00. Also consider that only 10% of Medicare enrollees hit $2,110 of out of pocket so you have a 90% chance you will not hit the deductible and save even more money.
The Median expenditure on Medicare A and B co insurance was $1,108 in 2012. This means that the average person would save over $1,000 a year on an anthem High F plan in CT.
Take a look at the plan. Keep in mind, you need the right price point on a high F plan to make it work. Anthem is at the lowest price of $33 a month which gives them the best supplement price point in the Connecticut market.