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

[Diggin It]

I know there are previous threads, but some of them got confusing.

I have a number of plans in my area, but four of them offer a Part B Premium Reduction (Giveback) of $50-75/mo. That's a key feature that I really need.

Of those four, there are varieties of coverage. Some include Dental, Vision and or Hearing at various levels. Some only cover the basics, others are more inclusive. At least three include Over The Counter items you can either order from their website, or buy in store. Available amounts per quarter vary from $150 to $200 and some roll over to the next quarter, while others don't. One offers a $500 'flex card' that can be used to pay some office visis or other costs that aren't normally covered. Ground Ambulance coverage varies, but is generally around a $300 copay.


I'm lost.

 

[KennyG]

You probably need to go back to square one. There is basic medicare that is the same for everyone. When you start seeing the options, what you are seeing are Medicare Advantage and Medicare Supplement (Medigap) plans. The supplement plans follow a consistent pattern of benefits for Plans A thru N. Advantage plans are all over the place because they are like HMOs. I stayed away from Advantage plans because they tie you in to a limited number of providers and don't cover overseas claims.

You should have the Medicare & You book. Use that rather than the advertisements from the individual providers.

 

[chevy]

I went through this a year ago. My insurance agent was pushing the Advantage plan. I was leaning that way until I did my own research. Agents push the advantage plans because they get a lot larger sales commission from them.

I went with a Medicare Supplement plan G. I can go to any doctor & hospital of my choice anywhere in the US. Everything that is medically necessary is covered. Nothing has to be pre approved. I also have a part D prescription plan. You need to chose the prescription plan based on the meds you take.

I have been on Medicare just over one year. My total out of pocket costs for that year including the supplement plan, prescription plan, copays on prescriptions & the Medicare deductible was $1872. This includes 2 years of Medicare deductible. The only thing that would have increased my out of pocket costs would be prescription co pays. It does not include the amount Medicare withholds from my SSI check.

My brother has an Medicare Advantage plan. He had major medical issues the last 2 years. His total out of pocket costs for the 2 years as over $16,000.

Advantage plane are like private health insurance. You can only go to doctors & hospitals that are in their network. There are co pays on most services. If you go to a provider out of the network, you pay very higher co pays, that could be the total cost of the service. You have to get pre approval for services. Advantage plans do have some perks that Supplements plans do not.

Most of my pre purchase research was talking to friends, family & Youtube. I learned the most from Youtube.

 

[Pixguy]

You guys haven't listened and done what JJ Walker and Joe Namath are telling you? It sounds DYNOMITE!

seriously, I'm interested and watching as I'm just a few years away.

 

[Streetcar]

For mom , I go on Medicare.gov website.
it gives rundown of plans and their cost.
I also check which insurance her doctors accepted

 

[grsthegreat]

im signing up for it next year,...and so lost. only the govt can screw up something so bad. They make it so hard no one can figure it out.

 

[Diggin It]

I went with a Medicare Supplement plan G.

From what I can see, Part G plans have a minimum $100/mo premium in addition to the Part B $150/mo premium. That's a dead stop.

The plans I'm looking at have no monthly premium and pay back a portion of the Part B premium.

 

[KennyG]

From what I can see, Part G plans have a minimum $100/mo premium in addition to the Part B $150/mo premium. That's a dead stop.

The plans I'm looking at have no monthly premium and pay back a portion of the Part B premium.

Be careful. The plans you are looking at are Advantage plans and will tie you into a limited provider network. Fine if all the providers you will ever use are in network, otherwise it can get very expensive.

 

[JethroB]

From what I can see, Part G plans have a minimum $100/mo premium in addition to the Part B $150/mo premium. That's a dead stop.

The plans I'm looking at have no monthly premium and pay back a portion of the Part B premium.

That sounds wonderful compared to the individual Blue Cross premium I’m paying now. Getting Medicare sounds great other than the part requiring me to be 3 years older.
I have an insurance broker I trust to help me through it when the time comes.

 

[KennyG]

Also check the fine print. Some of the advertised benefits may have income limits to qualify.