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Posting this as an FYI. A rep from my prescription insurer called me yesterday and we had a really nice long chat. We got onto other subjects and she indicated that there is now a 12-month grace period for people with a Medicare Supplemental plan to switch and try Advantage to see if they like it or prefer it. I am very hesitant to try it, though it is tempting. Wondering if others have heard about this. She stated that many brokers don't inform about this, or haven't really heard of it yet in order to be able to inform their clients.
I'm probably not going to do it, but Advantage has recently beefed up their offerings in order to entice people. For example, I was on Advantage while disabled and still under age 65. There was no dental, vision, rides to the doctor or other benefits (which I don't recall right now).
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).
Don't be tempted. The reason they are flooding the market with baits for Advantage is that it's cheaper for them, and it can really cost you - not them - in case anything happens to you (illness or accident).
The woman I talked to (a salesperson who checked to see if I'd received the latest changes regarding my meds and whether I had any questions), even said that it's a gamble taking Advantage.
When my brother heard what happened to me, he finally decided to get a Supplemental Plan. It is SO worth it. Anything can happen at any time: severe illness, terminal illness, catastrophic accident - not to mention the myriad things that come up for seniors. I used to be so incredibly healthy except for my lung issues. Now? I have so many appointments I wouldn't be able to keep up with the co-pays let alone if something happens and I end up in the hospital like I did 3 times 12 years ago. I have a $42/mo dental/vision/hearing plan that works just fine for me.
I guess some people don't mind gambling, especially if they have plenty of other resources. Those are the only people for whom Advantage works, in my opinion.
By the way, my understanding is that premiums are based upon the state you live in, not your income. I have a California plan and can switch (during the annual switch period) to a cheaper plan where I live now. I just leave it alone because it works for me and I may end up back in California some day.
Location: Was Midvalley Oregon; Now Eastside Seattle area
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I thought that anyone can switch to and from Medicare Advantage (C), or remain on whatever Plan they are enrolled, at EOY renewal time; Which is 1 year.
I guess I'm thinking it's not a HUGE gamble if I can try it for a few months to a year. If it doesn't work for me, I can move to a Medigap plan (without underwriting) and start paying that premium, then just stick with a Medigap plan.
I absolutely agree that you never know what might happen. I'm generally VERY healthy (no meds, e.g.) but have had several surgeries in the past 7-8 years (cataract surgery on both eyes in 2016, 2 total knee replacements in 2020 due to horrible arthritis) -- all of them went perfectly. I am back to my healthy weight (after being lazy for a while and gaining some ), I exercise, my diet is very good, etc., etc. But I could still wake up with cancer tomorrow. You never know.
By the way, my understanding is that premiums are based upon the state you live in, not your income. I have a California plan and can switch (during the annual switch period) to a cheaper plan where I live now. I just leave it alone because it works for me and I may end up back in California some day.
I'm referring to my MEDICARE premium -- not the Advantage or Medigap premium. I think the Medicare premium goes up from the "regular" $164/month if your income is higher than $97,000. My income in 2022 was WAY higher than that (ONLY because I was paid my regular salary as the retirement incentive PLUS paid another ~$70k for work), but that was an anomaly. This year my income will be actually a bit less than 1/3 of my 2022 income and in 2024 it will be much, much lower.
The Medicare Advantage premium and the Medigap plan premiums DO appear to vary based on one's state.
Quote:
Originally Posted by leastprime
I thought that anyone can switch to and from Medicare Advantage (C), or remain on whatever Plan they are enrolled, at EOY renewal time; Which is 1 year.
From what I've been reading, once you're on a Medicare Advantage plan, you MIGHT be required to go through medical underwriting to then switch to a Medigap plan -- so it's not guaranteed or your premium might be sky high. Apparently there are exceptions, e.g. for the first year (that's what I've been referring to), but also if you move and the Advantage plan you were on isn't in that state, or circumstances like that.
(But as I wrote, I find all of this somewhat confusing, so I may be wrong, and if so, I hope someone corrects me!)
I guess I'm thinking it's not a HUGE gamble if I can try it for a few months to a year. If it doesn't work for me, I can move to a Medigap plan (without underwriting) and start paying that premium, then just stick with a Medigap plan.
I absolutely agree that you never know what might happen. I'm generally VERY healthy (no meds, e.g.) but have had several surgeries in the past 7-8 years (cataract surgery on both eyes in 2016, 2 total knee replacements in 2020 due to horrible arthritis) -- all of them went perfectly. I am back to my healthy weight (after being lazy for a while and gaining some ), I exercise, my diet is very good, etc., etc. But I could still wake up with cancer tomorrow. You never know.
You need to talk to a broker who understands these complicated issues. You can't just try Advantage for a few months and then switch. It's annually.
I don't know why people don't just surrender to paying for quality healthcare and instead gamble with their finances and their lives by choosing Advantage. As I said, Advantage is for those who don't mind gambling, or those who have the resources to pay for extreme medical care out of pocket.
Posting this as an FYI. A rep from my prescription insurer called me yesterday and we had a really nice long chat. We got onto other subjects and she indicated that there is now a 12-month grace period for people with a Medicare Supplemental plan to switch and try Advantage to see if they like it or prefer it. I am very hesitant to try it, though it is tempting. Wondering if others have heard about this. She stated that many brokers don't inform about this, or haven't really heard of it yet in order to be able to inform their clients.
I'm probably not going to do it, but Advantage has recently beefed up their offerings in order to entice people. For example, I was on Advantage while disabled and still under age 65. There was no dental, vision, rides to the doctor or other benefits (which I don't recall right now).
Do you have a link to where this is grace period is defined by Medicare.gov? In my understanding if you miss the 6 month window to buy a supplement after you enroll in Part B, supplements can deny you for pre-existing conditions. I’ve never heard of a do over like you describe.
I don't, because I learned of it from a conversation on the phone with an agent yesterday. She sent me an email, I haven't looked at it yet, but I'll look now and see if there is any language addressing that issue, and check back.
This again, is where you need a broker. In my case, I am able to switch during the annual switch period. IF I move to another state, I can also switch. BUT if there are pre-existing conditions such as COPD, heart disease, cancer, then the company will not insure you and you have to stay with what you have.
I will DM you with her email and phone number/ext. She is very personable and helpful. Meanwhile, here is a link I found with an internet search that might provide some answers to your question: https://www.humana.com/medicare/medi...e-trial-period
Edit: I see that you are not accepting DM's and I don't think we are allowed to post that info here.
I don't, because I learned of it from a conversation on the phone with an agent yesterday. She sent me an email, I haven't looked at it yet, but I'll look now and see if there is any language addressing that issue, and check back.
This again, is where you need a broker. In my case, I am able to switch during the annual switch period. IF I move to another state, I can also switch. BUT if there are pre-existing conditions such as COPD, heart disease, cancer, then the company will not insure you and you have to stay with what you have.
I’m about to retire and I have a Medicare coach I’m working with. They don’t rep any plans. They just find recommendations on Supplement and plan D options based on your health, income, risk tolerance.
Honestly between figuring out Medicare, SS and moving my 401k funds, working is looking easier.
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), I exercise, my diet is very good, etc., etc. But I could still wake up with cancer tomorrow. You never know.
