Play the game like the big boys do and self and Sure your risk to mitigate exposure and minimize overall expenses
Play the game like the big boys do and self and Sure your risk to mitigate exposure and minimize overall expenses
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How to self insure your Medicare exposure with a hybrid Medigap plus plan
The concept is fairly simple in order to cover the catastrophic events you would purchase a high deductible Medicare supplement plan F which will be the least expensive plan available typically around $50, then you would take and Laeyer on a cash benefit plan for approximately $20 plus an additional final expense plan for approximately $10/a month making your underlying coverage About $80 a month!
Traditional Medigap plans are about $150 a month on average
Now that you have your underlying coverage the savings you have each month would go into a privately held Medicare annuity which is designed to be tax-deferred and provide you access when needed for health related expenses but if you do not use it it actually grows tax deductible with an interest rate attached to it making it a flexible health spending account personally built to your needs
Sample Medigap self insurance model numbers
Sample Medigap self insurance model numbers
If you start when you turn 65 and go for five years without having any health experiences or expenses that make you tap in to your Medicare annuity with the above model you will have over $5000 in your account that will be plenty to cover out-of-pocket expenses and coinsurance is in the event something catastrophic happens and you were required to do that outside of what the high deductible plan does not cover if you start when you turn 65 and go for five years without having any health experiences or expenses that make you tap into your Medicare annuity with the above model you will have over $5000 in your account that will be plenty to cover out-of-pocket expenses and coinsurance is in the event something catastrophic happens and you were required to do that outside of what the high deductible plan does not cover.
10 year run…Stay healthy Stay healthy
Staying healthy on a self-insured plan is definitely a great excuse to accumulate money in your Medicare annuity that grows tax deductible, tax free and it has interest bearing so at the end of 10 years you could potentially have over $13,000 saved up and that’s money that would’ve went to the insurance company had you picked a traditional approach to your Medicare insurance
If you do the math correctly your underlying insurance should’ve cost about $8000 and now you have over $13,000 in your account and that’s the game the big boys play with a self insure their group or their company and honestly that’s how the insurance companies make money so if you can take the time to figure out how to play the game you too can win!
