Looking for advice - I am 64 years, 8 months - Medicare is coming at me fast!

[NRaleighLiberal]

Is it as complicated as it seems?

Go with straight medicare, or one of the Advantage plans?

Seems like my next step is to meet with SHIP to discuss options?

Anything to watch out for....or to avoid (I don't want to screw this up). My wife is a year younger, she will get to stay on my former company retiree plan for one more year. But at 65, they boot me off.

[alwaysinasnit]

1. Believe it or not, AARP is one of the best sources I've found for questions on Medicare.

[NRaleighLiberal]

3. thanks!

[overleft]

29. I have the aarp uhc plan and it works great for me.

[SheltieLover]

2. Do not do advantage!

It is private insurance. If you ever want to go on regular medicare after being on advantage you have to go through application!

[NRaleighLiberal]

4. your comment reinforces what I've heard - thanks

[SheltieLover]

8. You are most welcome!

One final thought. Best to deal directly with ins companies once you find best rate for plan you want in your state. All Plan F are the same. All Plaln G are same, etc.

Not so with drug coverage! Depends which meds you need covered!

Friend in Nevada went through ins agent & was paying almost $400/ month for supplement plan that costs me around )$100/ month!

[csziggy]

36. My agent told me that if you get Plan F or G, don't go through a group like AARP

While I love AARP for my auto insurance, I went privately for my Medicare. What my agent said made sense - if the plan you select is phased out, with a private company you are grandfathered in and can stay on that plan. With a group system like AARP's plans, they change companies and you can lose the plan you like.

[PuppyBismark]

25. Advantage is great if you get sick

We have Aetna Medicare Advantage and have great coverage. My wife was in the hospital for a week and it cost us less than $1,000. You have to compare the various benefits and the premiums and make a decision. Likewise, prescription coverage is important. It is not a simple matter to make the decision, but do the homework. And yes AARP is a good source and they have advantage plans.

There are a number of no cost premium plans available.

In short, from my point of view, find an advantage plan that meets your needs. As I said, some have zero premiums and yet you get better coverage than straight medicare.

I think there is a government website that does comparisons, or at least there used to be. Who knows what tRump as done there?

[Rebl2]

27. My doctor

told me don’t do advantage.

[SheltieLover]

28. Smart doc!

I didn't have a good feeling with it at all. It looks great on the surface, but I see it as a way to get people off Medicare.

[Lulu KC]

32. +1 n/t

[SheltieLover]

33. Thx!

👍

[SheltieLover]

5. Call center on aging in your state

Have them check premiums for supplement plans.

F is best plan - covers everything including deductible.

G is next best. Same as F but does not cover deductible.

[sprinkleeninow]

18. I chose G last year bc you pay $185 deductible but save on monthly premium on F.

[SheltieLover]

22. Good idea!)

👍

[abqtommy]

6. I'm 71, been on Medicare for 6 years now and it works pretty well for me. No "Advantage" plan,

I don't need that. The State of New Mexico pays my monthly premium so that's a big help. But of
course you'll do your research and make your own decisions!

[SheltieLover]

7. Part D - drug pllan

For every month you do not have one over age 65, you will ppay a 1% penalty for life.

No, not joking.

Center on aging can price these for you also & give you contact #s.

I hope this helps!

[dflprincess]

12. Only if you can't prove you had "credible" coverage during the period you didn't have Part D

The last two years I've received a statement from my employer that I have been on the company plan and that the plan includes drug coverage. I can use these when I stop working & need to pick up on on the rest of Medicare. (I currently have only Part A)

[SheltieLover]

14. Ty for clarifying!

I did not realize that. 😊👍

[dflprincess]

17. They don't make it easy for us to understand it.

I don't know why they have to make it so damn difficult to figure it all out. Every other country seems to have figured it out.

I'm also in a situation where just Medicare B will cost more & cover way less than my current employer plan does. (I understand this is a rare position to be in).

I support a national health plan but I do hope they make it better than Medicare - there's just too much it doesn't cover. Minnesota has a program for low income seniors call MSHO. It's a combination of Medicare & Medicaid. My mom was on it and it covered everything - even hearing aids. When I hear people talk about "Medicare for all" I can only think what we really need is "MSHO for all."

[SheltieLover]

23. That sounds awesome!

Yup I think the same thing about MFA. I suppose if one had a bad accodent or catastrophic illness it would be good. 😊

[jpak]

9. I went with A, B and D

My part D supplement is $19 a month and loaded with extras.

Ask a local insurance agent what's available in your area.

[JustABozoOnThisBus]

26. The Medicare web site has a tool for selecting Part D provider

Enter all your prescription drugs (name, potency, frequency) and your location. It will produce a list of insurance companies and plans for you to pick from. The list includes the cost of the plan and the cost of your drugs under that plan.

My wife and I have different Part D companies and plans, because that's how the costs worked out.

[hedda_foil]

10. AARP sells one of the most expensive Medicare supplement plans on the market/

The plans are exactly standardized by the government. Same benefits, same plans, same payments, same everything except the price. AARP sells a lot of those plans because of their brand and their advertising but every company that sells supplemental Medicare plans sells exactly the same thing. The only thing that varies from company to company is the price and that varies wildly, with AARP always at or very close to the top.

The most important thing is that Medicare supplement plans do NOT pay 20% of what's billed by the provider. Medicare pays a negotiated rate that's somewhere around 75% lower than the amount that's billed. Then they pay 80% of that. So if your provider bills 400, for example, the Medicare negotiated payment rate is around $100. Medicare pays $80 and either you or the supplement plan pays the remaining $20. This is just an example and not exact, but the commercials make it sound like you wind up footing 20% of the whole bill.

[NRaleighLiberal]

11. thanks!

[hedda_foil]

13. You're welcome. :-)

[dflprincess]

15. Advantage plans often have very narrow networks

And I'm not sure if any of them cover you if you're traveling. Medicare A&B as well as supplements consider any doctor or facility that takes Medicare to be "in network" regardless of where you are in the country.

My friend goes to the Mayo Clinic in Scottsdale and, prior to her 65th birthday, she did receive a letter from them advising her that they do not accept any Advantage plans. Before you make any decsion, you may want to check with your current provider and ask what plans they accept.

[sprinkleeninow]

20. That's why I didn't choose Advantage last year. Wanted to keep my healthcare providers intact.

[PoindexterOglethorpe]

16. I have an Advantage plan and it's been wonderful so far.

A lot depends on your individual situation.

Do lots of research. Talk to friends who are already on Medicare. That was actually what helped me decide on my Advantage plan.

I honestly don't understand why they have such a bad rap.

[AJT]

19. My husband had medicare and added a supplemental.

He was in the hospital for weeks, he had 2 emergency surgeries, many scans, and was on a ventilator for a week before he died. I did not get one bill. The combination of Medicare and the supplemental plan covered everything.

[unc70]

21. Advantage plans vary a lot by location

I am in NC and have very good coverage with a $0 premium. It has some extra coverage like dental, gym, etc. It really depends on your situation what is the best option.

A lot of the plans in NC are restricted to only specific counties. Good news, you can change plans from year to year.

[Desert grandma]

24. I agree with those who advise against advantage plans.

Last edited Sun Aug 9, 2020, 04:44 PM - Edit history (2)

One big reason is that, as mentioned above, if you ever want to back on original Medicare, you have to go through underwriting. The only time you are exempt from underwriting is when you are first eligible for Medicare. The other important thing to know is that supplement plans are rated in one of 3 ways. Age attained rating refers to the age you are when you get the policy. Premiums can increase due to inflation as well as increasing age. They will increase every year on your birthday. Age issue rating refers to premiums that are based on your age when you are issued the policy. They will not increase as you age, They will only increase due to inflation. Community rating is used by AARP. They put all policy holders in a "community" and all policy holders are charged the same premium. My experience is that age issue premiums are the most cost effective. They are fewer in number. In our state, there were only two of them. My hubby and I both have plan G and are very satisfied. The premium on our supplemental policy with Transamerica has barely increased since we have had it. Good luck to you! it is confusing, but you will really like Medicare. Most doctors and other providers accept it. With the supplemental policy we have, we could even go to prestigious clinics like the Mayo or Cleveland Clinics.

[Lulu KC]

34. We are also with TransAmerica

and very pleased.
PLUS two different Plan Ds, because our medications are different, and a vision/dental through hubby's former union. It all works together so we have little to pay out-of-pocket.

We took an afternoon class that a broker provided and it really helped.

[Desert grandma]

35. Transamerica has been great for us too!

They are one of only 2 age issue supplement policy insurers in our area. We have had them for several years and the premium has barely increased.

[LiberalBrooke]

30. First, you need to understand the difference between Medicare and Medicare Advantage.

Medicare is a government plan and you can go to any Medicare provider in the United States. You can also buy a secondary policy to supplement Medicare. An Advantage plan is a choice to be covered by a private insurance company. Basically, you assign your Medicare benefits to them and they are responsible for your care. If you choose an Advantage plan you let them get government money on your behalf with the promise to care for you. You have to trust that particular private company to meet your needs.

[3Hotdogs]

31. Why are the plans so hard to understand?

They were written by the same guy who wrote the template for your car insurance.