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The time has come to enroll for Plan B and a supplement because I will be losing employer medical benefits in a few months. Fortunately I've had "qualified" coverage via husband for the last few years so I can enroll during this special enrollment period. He gets retirement coverage, but I don't so it is just me needing to change. It is very confusing and I would like to hear what others chose to do. What plan did you choose, would you choose it again.
I'm currently living in Texas. I hear a lot about F but it is being phased out as of January 2020 it will no longer be offered. So it appears G would be the next one to consider. It looks good, its expensive though. I have a quote of $158 a month. Plus I will be hit with a very high IRMAA charge. Taking me to over $500 a month. Plus I'll need a Plan D for drugs even though I take very little at this time. And that will come with another IRMAA charge. All in all it looks like I'll be paying about $700 a month between premiums and IRMAA charges. Does that seem extreme? It sure seems extreme to me.
I need a policy that can be flexible because we travel a lot. I don't want to be limited to certain networks. I want to avoid additional out of pocket surprises. I want to choose my own doctors/facilities when possible. So am I right to think a supplement, plan G would be best for me? I don't know why this whole topic is so hard for me, but it is. For some reason it's very disturbing, maybe because I've been hit in the head with the reality that I'm actually at that age where I am on Medicare. How did that happen!!! Any advice would be very much appreciated...
My recommendation - buy the community-rated AARP UHC Plan G. Many people here have that plan.
You are disturbed because your health insurance costs are expensive. Most people don't expect that in retirement they will be paying as much or more than when they worked. Part B $134, Medigap $160, Part D $50 = $344/mo. These are baseline numbers and, as you've learned, can be much higher based on income.
There are numerous posts on this board from retirees stating they budget $10k/year per couple for medical insurance and other expenses. My neighbor, 20 years ago, said he budgeted $12k/year for him and his wife.
That said, if the IRMAA is because of a one-time life event - such as sale of home/pension lump sum payout, etc. - you can appeal IRMAA through CMS and get your Part B premium reduced. Many people here have successfuly appealed the IRMAA.
If you can afford it, which you should be able to if IRMAA is a issue, Plan G is what you should have. AARP UHC is a community-rated plan which may be slightly higher in premium now but over time, after age 77, rates are increased because of medical costs for the entire risk pool, not your age, unlike other insurers - illustrated on the discussion on this thread:
Essentially, you are suffering from sticker shock. Unless you choose an Advantage plan (not recommended if you travel and for a lot of other reasons, too) or a lower-priced attained-age policy and hope the premiums don't escalate to an unbearable point at the same time you have health issues and can't switch to another Medigap, the AARP UHC Medigap G is your best choice.
Another poster from Texas just chose a CIGNA plan - which is attained age - and, for now, has a slightly lower premium. In WI, that company hasn't been too awful on price increases, but there are no guarantees with an attained-age policy.
Thank you for your response and for the link you provided too. You provided more clarity than any of the 3 insurance agents I've talked with. They really do tend to push "their" product and I kept feeling I was missing something. I wanted facts but felt I was getting filtered information. Right now I don't need to pass a physical questionnaire for coverage, I'm guaranteed so I feel I should be making a decision today that I can live with for the rest of my life if need be. I don't want to risk being turned down in the future or restricted by cost increases either. I really appreciate the point you made regarding community rated versus attained age rated. That makes total sense to me. No agent even mentioned that as a consideration, so thank you very much.
I've been awake since 4:00 a.m. doing some more research and I agree with you, AARP UHC supplement plan G looks like the best one for me. I don't need an agent to get signed up on that. My husband and I worked very hard for over 40 years, delaying a lot of immediate gratification in order to save and have peace of mind in our retirement years so I'd be foolish not to purchase the plan that gives me that peace of mind now. As to those IRMAA charges, they seem like a penalty to me that I really resent but apparently have to live with for a few more years.
Now I'm ready to move on to exploring Part D drug plans. I only take two inexpensive medications so I could go without coverage. However, that could backfire on me at any time. Plus I would end up with additional costs if I enroll late so I need to sign on with some plan just to get in the system. Anyone have advice on drug plans?
Now I'm ready to move on to exploring Part D drug plans. I only take two inexpensive medications so I could go without coverage. However, that could backfire on me at any time. Plus I would end up with additional costs if I enroll late so I need to sign on with some plan just to get in the system. Anyone have advice on drug plans?
Currently we both have the AARP F plan, but will probably be moving to the G in the next year or so. We took it for the exact reason that Ariadne explained.....Community rated. Plus you can move within different AARP plans without Medical underwriting, which is allowing us to move from F to G without problem. Our base plan did go up a bit this year, but only a few dollars.
I guess my question is.........have you checked out the drug plans on medicare.gov? You can put in what drugs you take and they will come up with plans and pricing for you in your state. Both DH and I only take a couple of generic drugs (he has 2, I have 1) and we have the Humana WalMart plan which is currently $20/month per person. Last year it was $17, but went up this year. You aren't forced to go to a WalMart/Sam's pharmacy but you do get the best deals there. Also make sure that your drugs are on the formulary.........it will tell you that on each quote. If not, it will tell you which one and why. For example, the one that I take comes in both tablets and capsules. For some strange reason the tablets are on the formulary and the capsules aren't. Once I put in "tablets" it gave me a lesser yearly cost with co-pays. I just make sure that's what my doc orders. There were more plans listed but at a higher cost and with some non-formularies. Not sure why someone would pay more for the exact same coverage. There were some differences in co-pays but not enough to justify a higher monthly cost.
Good choice on your supliment G plan AARP/UHC and I recomend Silver Script classic for a Plan D but do enter any perscriptions you do take to check coverage and price.
As to those IRMAA charges, they seem like a penalty to me that I really resent but apparently have to live with for a few more years.
Well, there may be some small comfort in knowing that similar to subsidies under the ACA, the higher your income, the lower your Medicare subsidy - similar to our tax code which increases tax rates as income rises. The govt subsidizes Medicare Part B at least 75% for those in the lowest income tier, a few years ago as high as 80%. Therefore, the premium is means tested.
In the open market, hospital/medical insurance for anyone over age 65 would be at least $1,200-$1,500/mo., to which would be attached an extremely high deductible, copays, and balance billing exposure for out-of-network services. For now, Part A has no premium and a deductible of $1,340; income-based Part B premium range is $134-$428.60, with a $183 deductible. Medigap G will pay the hospital deductible, and all but the $183 Part B deductible - and has no provider network limitations. All in all, even with the expense of a Medigap and a Part D plan, Medicare insurance costs, worst case, are at least 60% lower compared to real world prices.
Thanks to those who were kind enough to share their thoughts and experience. I am now able to see a path forward. Not feeling so stuck in confusion. It was difficult for me to crossover and realize the supplement carrier was not going to make decisions on my care nor limit where I could go for treatment. They are simply going to pick up the tab of what my insurance (Medicare) doesn't pay. Not the way insurance works in the working world which is all I've known. How the premiums are rated is very important, not now as much, but certainly in future years as I age. So definitely going with a community rated rather than retained age rated helps me feel confident signing up with plan G of AARP-UHC.
If I'd gone to an Advantage Plan that would have meant carrier would have called the shots on care I could receive and where I could go for treatment. More like employer paid insurance that I'm used to, but at this stage of my life that is what I want to avoid. I need to make choices that support me remaining independent for as long as possible. And choices that will help our savings to last longer. In my opinion an Advantage plan would work against me accomplishing those things. The only positive is that it can be cheaper premiums and some companies throw in extras like dental or vision care. But for me, it feels too risky and restrictive. With my supplement I can travel and know that I just need to pay that annual deductible. I can sleep better knowing that.
And the Plan D drug is pretty straight forward. Medicare.gov website was easy to navigate. It appears I can change part D drug plan if I find in the future my drug needs have changed. Just need to do it during open enrollment period. So, I can sign up with a lower cost plan without fear of being too restricted if my needs change. I just need to enroll in a plan now to avoid future late enrollment penalties.
Change is always a bit stressful, even positive changes. But I feel like I'm going into this week feeling a lot less stressed than I was last week. I have you folks to thank for that.
Thanks to those who were kind enough to share their thoughts and experience. I am now able to see a path forward. Not feeling so stuck in confusion. It was difficult for me to crossover and realize the supplement carrier was not going to make decisions on my care nor limit where I could go for treatment. They are simply going to pick up the tab of what my insurance (Medicare) doesn't pay. Not the way insurance works in the working world which is all I've known. How the premiums are rated is very important, not now as much, but certainly in future years as I age. So definitely going with a community rated rather than retained age rated helps me feel confident signing up with plan G of AARP-UHC.
If I'd gone to an Advantage Plan that would have meant carrier would have called the shots on care I could receive and where I could go for treatment. More like employer paid insurance that I'm used to, but at this stage of my life that is what I want to avoid. I need to make choices that support me remaining independent for as long as possible. And choices that will help our savings to last longer. In my opinion an Advantage plan would work against me accomplishing those things. The only positive is that it can be cheaper premiums and some companies throw in extras like dental or vision care. But for me, it feels too risky and restrictive. With my supplement I can travel and know that I just need to pay that annual deductible. I can sleep better knowing that.
And the Plan D drug is pretty straight forward. Medicare.gov website was easy to navigate. It appears I can change part D drug plan if I find in the future my drug needs have changed. Just need to do it during open enrollment period. So, I can sign up with a lower cost plan without fear of being too restricted if my needs change. I just need to enroll in a plan now to avoid future late enrollment penalties.
Change is always a bit stressful, even positive changes. But I feel like I'm going into this week feeling a lot less stressed than I was last week. I have you folks to thank for that.
Yes, changing the Part D is no big deal. Just run your medications through the Medicare website each year when the new enrollment is announced. I'm on my sixth plan since I started Medicare. Every year the plans change; I am saving about $600 over last year by changing.
You have been so helpful when it comes to advising on Medicare part B and D, if you don't mind, I'd like to ask for feedback when it comes to Dental Insurance and Vision Insurance. I know they aren't part of Medicare but I'll be losing those benefits shortly too. So was wondering if any of you have decided to purchase dental or vision policies? Or did you choose to go without and just pay as you need care?
I've been doing some research but they don't seem to cover very much. Even with a policy there is a lot of out of pocket costs, at least potentially, or restrictions. Has anyone found a good policy for either dental or vision that I could look into?
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