It's Time For Medicare (whether I want it or not)

[ljjhouser]

Only one comment. If you are Dual Eligible (Meaning you are on both Medicaid and Medicare) your state Medicaid MAY pay some or all of your annual Part Be deductible. Best Wishes.

 

[fishheadbob]

I've been contacted by someone from the medical insurance company I've been with for a few years.


I mentioned a $500 per year Flex card in an earlier post ... this plan has a $1,500 per year Flex card. I mentioned a monthly allowance for Over the Counter items of something like $75, I don't recall the exact number now. This plan is something like $425 per quarter, either in store (CVS I think), or from a website and shipped to home. Most Prescriptions are covered too so Part D is taken care of. No monthly premium either.

How the heck are they going to offset Part B in full and give me all that 'cash' in credits and allowances each month?

I've verified everything he's been telling me by reviewing documents on their website.

I'm pretty well lost and not sure I believe him, but if it all pans out, it will be a far better plan over all.


There has to be a catch.

How do they give you cash back / where does the money come from? Here's how they pay you to enroll in some advantage plans. A five star rated advantage plan is given a flat fee by Medicare for every person who is enrolled in that plan. Not a small amount; somewhere around $11,000. Four star rated plans get a lesser amount. I see a plan with a zero monthly fee that will pay $ $50 cash back per month, $600 per year, along with a flex card. That still leaves a lot of money to cover the enrollee and his health costs.
You don't have to be Medicaid eligible to get that as there are no income or asset limits.

 

[ronjhall]

How do they give you cash back / where does the money come from? Here's how they pay you to enroll in some advantage plans. A five star rated advantage plan is given a flat fee by Medicare for every person who is enrolled in that plan. Not a small amount; somewhere around $11,000. Four star rated plans get a lesser amount. I see a plan with a zero monthly fee that will pay $ $50 cash back per month, $600 per year, along with a flex card. That still leaves a lot of money to cover the enrollee and his health costs.
You don't have to be Medicaid eligible to get that as there are no income or asset limits.

Advantage plans are paid for by the Federal Gov. Insurance companies make money by taking over administration of all aspect of Medicare. Almost anything you do medically has to be approved by insurance company. Supplemental plans pay what Medicare does not cover for an Medicare approved procedure. That usually is 20% of the Medicare approved billing.

 

[Doofy]

With Medicare as Primary and Retiree Health Plan as Secondary, I have very little, if any, out-of-pocket cost. I have been afraid to throw the VA into the mix figuring it would just screw everything up. I see my friends with extraordinarily long wait times for service and care waiting for the VA.

 

[ljjhouser]

With Medicare as Primary and Retiree Health Plan as Secondary, I have very little, if any, out-of-pocket cost. I have been afraid to throw the VA into the mix figuring it would just screw everything up. I see my friends with extraordinarily long wait times for service and care waiting for the VA.

VA and Medicare have no Coordination of Benefits with each other. That is because VA medical is not creditable in the eyes of Medicare. However, VA Drug program credible in the eyes of Medicare. Tricare may be an exception to that. I think any VA payment to a public hospital required the approval of a VA regional director. I would always reccomend always using a public hospital when you have MC as primary and other insurance as secondary. You have a good combination of health Insurance. I am glad.

 

[Fuddy1952]

Medicare is great!
Now you're on uncle Sam's teat. At 64 I was paying $1,500/month health insurance, was $100 pre-obama.
Always been on part F, but didn't need drug coverage. My diabetic wife has G and D (meds). Recently had cataracts both eyes (covered) but chose corrective lens implants...$3,000 but no big deal, no more glasses after wearing them 60 years! 20-20 vision, she says everything so bright and colorful.
I figure it this way. We don't smoke/drink. If a pack a day was $6, that's $2,200/year.

 

[Doofy]

Wife quit smoking and I quit chewing 10 years ago. Those habits were getting more expensive by the month, it seemed. We figured we've saved well over $60K (and feel better, to boot).

 

[Boss 302]

I just retired and went on Medicare, in doing so I have much better insurance then I did while I was employed and it's very affordable. Paying a lot less now then I did while I was working.

 

[ultrarunner]

Many I know are waiting for Medicare age to retire...

Health Insurance is right up there after wage earned.

 

[Pixguy]

Poured first cup of coffee. 27° with cloudy skies this morning. Heading to 35° with cloudy skies. Got about 4" of snow yesterday. Cleaned walkways around 3 o'clock. Went out 2 hour later and it needed cleaning again. Will get at that today. Got tractor ready for winter. Snow blade is on and all joints greased. It will get used later today. Put Christmas tree up today.
Finished making and installing pole rack for Mule. No more pole sticking out side of mule waiting to get caught on something.

Yesterday's sunrise.

Prayers and best wishes for everyone.

Good Morning All.

Thanks Ron but I'm sure you meant to post this in the Good Morning thread.