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Old 03-24-2015, 03:22 AM
 
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we were watching some you tube videos on plans and they were interesting.

the best value is plan g. all you have is a 146 buck deductable difference from f but the group profile is very different.

while the difference can be over 300 bucks a year to save 146 dollars the real difference is that everyone gets thrown into an f plan healthy or not .

in most states plan g requires a health questionaire to switch in to .. the differences almost every year in the amount of increases was mind blowing. f plan increases were way more year after year.

one other video questioned whether even supplemental plans were worth it at all.

the odds of coming up with enough unpaid medicare charges to come close to what the plans cost is very difficult.


odds are even the high deductable plan will not see you even making the 2,000 deductable.


i will take the high deductable f plan but it is only because it is cheaper than the g plan . i wouldn't go f plan at all after seeing the videos and would only consider g.

another interesting point was even plan d is qustionable for many since they are on no drugs , the fine came out to 4 bucks a month if you didn't need drugs . when the plan cost 30-40 that can be a 90% savings paying the fine when you finally do need to go on it..

https://www.youtube.com/watch?v=cApRgSGGOQY

Last edited by mathjak107; 03-24-2015 at 03:40 AM..
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Old 03-24-2015, 05:23 AM
 
Location: Central Maine
4,687 posts, read 5,541,838 times
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Quote:
Originally Posted by Curmudgeon View Post
Just to clear up a few misconceptions about Medicare: At age 65, if you have at least 10 years of paying in to the Social Security fund (not all employment does) you will be automatically enrolled in Part A which is the hospitalization arm of the program.
Not exactly ... at least not for federal retirees under the old Civil Service Retirement System (CSRS) like me and my wife. When employed by the federal government, we did not pay Social Security (and therefore, we are not eligible for Social Security benefits). But we did pay a Medicare tax, and as long as we paid at least 10 years of this tax (and we did), we're eligible for Medicare Part A.

Quote:
Originally Posted by Curmudgeon View Post
For the record, some employer-based medical coverage plans that are continued following retirement will revert to Medicare supplement plans with prescription coverage when you reach age 65. This is particularly true for government retirees.
Our health insurance has continued in retirement (I've had the same Blue Cross/Blue Shield policy - although the coverage and premiums have changed over the years - for 41 years next month). Like everyone who has paid into Medicare, at 65 we'll have the option to enroll in Part B, and we will. Like the vast majority of people, I don't see any advantage in waiting until a later date. At that point, we can either drop our BC/BS health insurance or keep it - that's up to us. We'll keep it, but probably switch to a less expensive plan. Medicare will be primary, and BC/BS will be secondary.

MEDICARE, Part A, B, C and D | Do Federal Retirees Need to Sign up for Medicare?
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Old 03-24-2015, 12:23 PM
 
Location: Wisconsin
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Corrected numbers - I was in a brain fog yesterday:
Quote:
Originally Posted by Ariadne22 View Post
Actually, that number is technically 15% - called the excess or limiting charge. However, in reality, the figure results in less than an extra 10% to the doctor, as Medicare will only allow him to charge 95% of the approved charge PLUS 15%.

Per Medicare.gov: In other words,

$100.00 - Medicare approved charge
$.. 95.00 - nonpartipating physician approved charge (95% of Medicare approved charge)
... 14.25 - 15% excess/limiting charge allowed to nonparticipating providers ($95x15%)
$109.25 - nonparticipating doctor charge
$.. 76.00 - Medicare pays (80% x $95)
$.. 32.85 - You and/or Medigap pays

Only Medigaps G and F (including h-d F) pay the excess charge, however.

How to compare Medigap policies | Medicare.gov
Which means if you don't have Medigaps G or F, your Medigap pays its 20% of $95, or $19; you pay $14.25. I've heard of people with chronic illnesses racking up the excess charges because their specialists are nonparticipating. Mayo Clinic, for example, will not accept Advantage, is a nonparticipating Medicare provider; you are on the hook for the entire amount of the service, although they do, as a courtesy, submit bill to CMS and the Medigap, which in turn pay you. Per Robyn, who uses Mayo in FL, the reimbursements to you from Mayo and the Medigap arrive about the same time as the Mayo, bill.
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Old 03-24-2015, 04:57 PM
 
Location: Wisconsin
21,543 posts, read 44,077,984 times
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Quote:
Originally Posted by mathjak107 View Post
we were watching some you tube videos on plans and they were interesting.

the best value is plan g. all you have is a 146 buck deductable difference from f but the group profile is very different. while the difference can be over 300 bucks a year to save 146 dollars the real difference is that everyone gets thrown into an f plan healthy or not .
Rates vary widely by state. The ridiculous concept of paying $300 to cover a $147 deductible is not true of all F plans in other states.

Also, prices for Medigap F's vary widely by state. NY is more expensive for two reasons - it is NY and it is community-rated. In TX and some of the southeast seaboard states, a Medigap F is only $139/mo. - although not community-rated.

On the other hand, we have had posters on this board w/parents in their 80's paying well over $400/mo. for a Medigap b/c they bought attained-age rated policies.

The key is to buy a community-rated policy - which is subject to the least increase over time. They are pricier when you're younger, but the increases won't be atrocious as younger people keep entering the risk pool. AARP UHC Plan F is community-rated in many states, in FL it is issue-age rated. In WI, UHC Plan F is the ONLY community-rated Medigap. Premium is $171/mo. My sister w/heart issues and other ailments will be purchasing that plan this year and liking it. It should save her a lot of money.

Otherwise, most policies are issue-age or attained age rated. Attained age, in particular, can become quite expensive with time.

NY is a community-rated state. Generally, this rating serves to keep F plan increases very stable year after year in most states.

CMS on pricing here:

Costs of Medigap Policies

Quote:
Originally Posted by mathjak107 View Post
in most states plan g requires a health questionaire to switch in to .. the differences almost every year in the amount of increases was mind blowing. f plan increases were way more year after year.
There are five guaranteed issue states in your area - NY, MA, CT, NJ, VT (I think). The rest of the country is pretty much not guaranteed-issue and can very easily be excluded from switching Medigaps or buying a Medigap outside of their initial Open Enrollment Period if health issues develop.

Which is why for those with health issues and not in a guaranteed issue state, choosing wisely the first time is important. Cheapest now (i.e., an Advantage plan or attained-age rated policy) can very well become an unaffordable false economy with time. If health deteriorates, you need specialists not in the MA network, you can't switch b/c no carrier will take you - other than, possibly, another MA. And, the best medical facilities like Mayo, etc.won't consider MA's at all.

Quote:
Originally Posted by mathjak107 View Post
one other video questioned whether even supplemental plans were worth it at all.

the odds of coming up with enough unpaid medicare charges to come close to what the plans cost is very difficult.

odds are even the high deductable plan will not see you even making the 2,000 deductable.
If one is healthy, I think one doesn't see the true value of a Medigap - and may never - until late in life. I agree they are overpriced, but too many also roll the dice. Read about Dave's wife, here:

http://www.city-data.com/forum/37198954-post57.html

She's probably not got a lot of money or assets so really doesn't care about tens of thousands in unpaid medical bills. Some people are like that. Good luck w/getting coverage now. The best she'll be able to do in FL now is an Advantage plan, never a Medigap, not with her history.

Quote:
Originally Posted by mathjak107 View Post
i will take the high deductable f plan but it is only because it is cheaper than the g plan . i wouldn't go f plan at all after seeing the videos and would only consider g.
What is the rate in NY for the plan you are considering? Have you talked to someone who knows something about Medicare options? Again, as I said, earlier, b/c NY is a guaranteed issue state, whatever you choose today, you can change, although the policy might exclude existing conditions for a period of time - usually six months. In other states, a preexisting condition can result in denial outside of initial open enrollment..

MJ, this lady b/c of health issues and budget concerns, did a ton of research on NY, her posts are worth reading and might help fill in the blanks if you haven't already plowed through that hd-F thread I keep linking - these are some of her individual posts - she was quite thorough:

Help - In Texas: Thinking Original Medicare and hi-D Plan F - thoughts?

Help - In Texas: Thinking Original Medicare and hi-D Plan F - thoughts?

Help - In Texas: Thinking Original Medicare and hi-D Plan F - thoughts?

Help - In Texas: Thinking Original Medicare and hi-D Plan F - thoughts?

and, there are more on that thread. Again her posts are very informative for anyone in NY.

Last edited by Ariadne22; 03-24-2015 at 05:46 PM..
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Old 03-24-2015, 05:07 PM
 
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thanks for the wealth of info. we are first shopping now for a plan. i am going through the links now and you are right lots of stuff pertaining to ny.

now i wonder if arp is even offering a hi-d f in ny .

Last edited by mathjak107; 03-24-2015 at 05:17 PM..
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Old 03-24-2015, 09:50 PM
 
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The thing is your hedging increasing risk once you become 65 .Its just one more disaster you have secured. I think most retired for any number of years even if not concerning themselves but knowing others will say its one; if not the most important risk to secure as best you can.
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Old 03-25-2015, 12:44 AM
 
Location: Wisconsin
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Quote:
Originally Posted by mathjak107 View Post
now i wonder if arp is even offering a hi-d f in ny .
No. First United American, Blue Cross, Humana, and Bankers Life (poor D+ financial rating) are in the Queens zipcode:

Companies Offering Medigap Policy

Although, I've found the medicare.gov site doesn't necessarily list all the policies. I found another hd-F carrier (Colonial Penn) in WI by downloading info from the Insurance Commissioner website, not as financially strong as two others offered in my state. Premium was about $100/yr. less, but I didn't like the agent nor company's D+ financial rating,

weisswatchdog.com/

so kept the Physicians Mutual (A+) plan I have. You might want to talk to the SHIP people in your state or see a good broker specializing in Medicare options. No matter how much you search, an agent will probably tell you something you didn't know. I found that to be true w/every agent I spoke with.

Last edited by Ariadne22; 03-25-2015 at 12:55 AM..
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Old 03-25-2015, 01:18 AM
 
71,798 posts, read 71,896,917 times
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out of blue cross and first united which is the better choice ?
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Old 03-25-2015, 06:10 AM
 
8,208 posts, read 11,929,872 times
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Quote:
Originally Posted by loveautumn View Post
As others have said, what health care will be like in 12-17 years is anybody's guess. But you are right in wanting to know at what age you will go on Medicare (Part A is free, Part B is $147 a month currently). One doesn't even know what your employers will offer you in 12 years or you may want to work longer than 62 as you get closer to that age. But, anyway, my suggestion is to just keep funding your retirement accounts (max out if possible) and do the best you can to save as much as possible and think about having no debt at age 62 (no car loans, home paid off, will you need to move to lower COL area, downsize your home, etc.) These are things that will give you more money each month. One can only plan so much in life as we have no way of knowing what is ahead of us (and personally I think it's better that way). But, also, enjoy the time you have right now, together, today
No, Part B is 104.90/month for most people. Your $147 figure is the yearly deductible.
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Old 03-25-2015, 06:33 AM
 
8,208 posts, read 11,929,872 times
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Quote:
Originally Posted by GreenGene View Post
Our health insurance has continued in retirement (I've had the same Blue Cross/Blue Shield policy - although the coverage and premiums have changed over the years - for 41 years next month). Like everyone who has paid into Medicare, at 65 we'll have the option to enroll in Part B, and we will. Like the vast majority of people, I don't see any advantage in waiting until a later date. At that point, we can either drop our BC/BS health insurance or keep it - that's up to us. We'll keep it, but probably switch to a less expensive plan. Medicare will be primary, and BC/BS will be secondary.

MEDICARE, Part A, B, C and D | Do Federal Retirees Need to Sign up for Medicare?
Just out of curiosity: why? If BCBS on its own has been fine for you for 41 years, and will still be fine for you when you're 64 + 364 days old, why do you feel that the following day at age 65 you'll all of a sudden need a different health care program (Medicare Part B)?

I'm not saying that such a decision would be wrong; I'm merely inquiring why you're so sure it is correct. I, myself, haven't decided what I'm going to do at 65 as I still have 6 years to go and who knows what health care will look like then. I'm not willing to extensively research choices now that may be completely outdated or obsolete by the time I'm 65.

BTW, you stated that you were unaware of any advantages to waiting to sign up; one that I can think of off the bat is if you want to go to a doctor who doesn't accept new Medicare patients.
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