Are you a Medicare Broker? Learn more about the High Deductible F Plan.
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Welcome back to the Dynamic Duo with me, Allie Shipman, and my partner, John Shinn. In the last two videos, we discussed how you, the agent, can explain Medicare supplements to your clients. We specifically talked about plan F, plan G, and plan N. Today, we are going to talk about another very popular and high-selling Medicare supplement called the high deductible F plan or HDF.
What Is the HDF Plan?
If you remember from our previous videos, plan F pays for all Medicare-approved charges that are not paid in full by Medicare. It pays for the hospital charges and doctor visits, and it’s one of our most popular plans with great value. The high deductible F plan is a little bit different. It works exactly the same as plan F, except your client is going to pay what Medicare doesn’t pay until they reach their annual out-of-pocket of $2200. Once they reach the $2200, the plan will work just like a plan F. It’s pretty simple.
A Great Value for Any Budget
The HDF Plan is popular with clients because it has one of the lowest premiums available out of all the Medicare supplements. We’re talking about premiums in the $30-$40 range instead of another supplement in the $140-$150 range. You will sell these like crazy! So, it’s important that you understand how the high deductible F plan works.
Details about HDF
Medicare brokers selling Medicare supplements really need to know how to sell the HDF plan. It is pretty simple once you know how they work. It is just like Plan F that we talked about in our previous videos, except with the high deductible F plan, there is a deductible involved. It is $2200 per year. This situation means that original Medicare will come in and pay what they should for hospital stays, outpatient surgeries, and doctor visits. Then, you pay your part until your part reaches $2200 per year. After that, the plan kicks in and works like a regular plan F. Low premiums are the significant tradeoff. They will be about $30 to $40 per month versus $130-$140 per month for a regular Plan F. This technique is a perfect plan to help clients get the most value and add additional products. We will talk about cross-selling in future videos.
Agents
We hope that this information on a Medicare broker was useful to you.
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This article was updated on 6/24/2024.
