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Thanks, I already mentioned upthread that I'm not willing to switch. I'm in the middle of a bunch of treatments and I just don't want the hassle of switching everything over with each doctor. If next year things have calmed down, I'll consider switching. I will admit that I don't trust companies and rising costs. Or coverage. For example, if I switch to the company I mentioned upthread, why is it so much less expensive and would I really get the same level of benefits? Even though they say they will, will they really?
If you are talking about Medigap, the plans are standardized according to letter. A Plan G from one insurer provides the exact same benefits as a Plan G from another company. Premiums may vary, though.
If Medicare pays a claim, then the Medigap plan must also pay their share, no questions asked.
I know that, but my broker told me back when I was living in New Mexico a few years ago that she had heard that New Mexico's Plan G servicers do not actually service the plan as they should. That's why I didn't switch. Even though the rate would have gone down about $80, I decided not to.
What is this Medigap thing? My plan is Supplemental. From what other people have written here, it seems that Medigap is different, if only slightly. I've only ever had Supplemental Plan G so I'm not familiar with "Medigap."
Medigap is the same thing as your supplement plan. All supplements are called medigap as they fill the gap between regular Medicare and the 20% you would owe without a supplement plan.
That's what I thought. My broker only ever called it Supplemental. It's been confusing to see "Medigap" used in quite a bit of places. I mean, it isn't called Medigap Plan G, it's called Supplemental Plan G. Whatever!
Medicare Supplement Insurance (Medigap) is extra insurance you can buy from a private health insurance company to help pay your share of out-of-pocket costs in Original Medicare.”
My friend was in the hospital for a leg infection last November 2022 for one week under Medicare Advantage. He was told he didn't owe anything because he reached his out of pocket maximum earlier in the year. Now he gets a letter from a collection agency saying he owes $1,000 for the hospital stay, not itemized, so he doesn't know what's it's for. The hospital billing department is investigating, the collection agency doesn't answer the phone. He's upset because he never received the original bill and he doesn't want a bad credit rating.
Medicare Supplement Insurance (Medigap) is extra insurance you can buy from a private health insurance company to help pay your share of out-of-pocket costs in Original Medicare.”
Thank you. Like I said, when I first turned 65 (actually the last couple weeks of the month before I turned 65) I answered an ad not knowing anything about Medigap/Supplemental plans. I signed up for Supplemental right away and ever looked into anything further - no need. Because my agent never called it Medigap, it was confusing later on when people would say or write Medigap instead of Supplemental.
I will be 80 years old in December. I am still working part time as a tax preparer and book keeper. I am a reasonably educated person who raised 3 children on my own for 15 years. I have had many life experiences and am reasonably proficient in business matters. I am astounded at the amount of misinformation I am reading on this thread.
I know doctors who will not take new patients with Advantage plans. People can take in the information posted on this thread, there is good info here but, there is contradictory info, as well. Take the knowledge gained here, terminology, questions to ask a Medicare coach, and then make your decisions. Please do not base it just on these boards. Knowledge is power and this is one fo the most important decisions in your life. Know your options then, act. Some of the info stated here is irreversible, some isn't. Know the difference and good luck.
Exactly. One size definitely does NOT fit all when dealing with Medicare.
Interesting. I am JUST ABOUT to turn 65 (my birthday is 1/1/59 so I start Medicare on 12/1/23 -- apparently I "count" as having been born on 12/31/58) and in fact I just finished applying online through my social security account.
I've gotten lots of mail from Advantage companies. They are very tempting because of the $0 premium and additional benefits they offer (vision, dental, fitness, etc. -- all limited, of course, but better than nothing!). With at least one (Harvard Pilgrim -- used to have them through my employer and they were fine), the literature says I can decide after a year that the Advantage program is not for me and thus switch to a Medigap program instead (without underwriting). I saw this confirmed in a letter from a broker that I may use (sounds like ALL the Advantage programs have to offer that in the first year).
I am pretty smart, but I am finding all the choices, variations, etc. rather overwhelming. AND my 2022 income was WAY higher than usual (because of a retirement incentive) so if they base my Medicare premiums on that, they will be insanely high -- this year's income will be about 1/3 what my 2022 income was (the highest of my life!) and my income in 2024 may be in the $20k range (if I decide to start social security next year, which I may).
Too many decisions to make!! Ugh!!
There are several reasons you can switch at any time. One is within the first year if you decide it is not working out for you or anytime if you move outside the plans coverage area or the plan ceases to cover the area you live in. You can switch any year to any other plan including regular medicare plus Part G every October for the next year. So, if you think you made a mistake you can always wait until the next enrollment period (October) to make that switch.
As for the one year high due to retirement incentive you can work with the Social Security Office to discount that.
Because I’m curious I went to the Medicare website and all I could find about being guaranteed to switch to a medigap plan after being on a advantage plan is that you can only do that for the first 12 months after you initially go on Medicare. So for many of us that ship has sailed.
Pathrunner, I finally found the information and my above post is wrong. First it’s not a new rule but has been around for awhile. It’s called Trial Right 2 and within the first year of changing to an advantage plan for the first time you have 12 months to go back to Medicare with a supplemental plan without medical underwriting. It’s important to note that you only have this opportunity the first time you switch to an advantage plan.
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