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At 64-and-a-half, I'll soon be enrolling in Medicare... and it's confusing.
For those who've been there already, a couple of questions:
If Medicare Advantage plans offer features that "straight" Medicare doesn't,
is there any reason NOT to enroll in a Medicare Advantage plan?
Are most recipients now in Advantage plans?
I'm not taking any prescription drugs (not because of religious beliefs; I just haven't needed any).
Would not needing the Part D benefit affect my other choices, or is it independent of those options?
If you can afford the supplement premium, that should be your first choice. No networks, no onerous oversight. If you are healthy, a cost effective Medigap supplement for those newly-eligible to Medicare iin 2020 is the high-deductible G - premium at least 50% lower, depending on your state. Medicare pays its 80%, you pay the minuscule 20% copays up to $2,340. If you remain healthy, you may never meet that amount. Once deductible is met, however, plan pays 100%. All the benefits of a Medigap should disaster strike without the high premium. Many here have chosen the high deductible plans, including myself at one tme. Know that in some states, however, Medigap premiums are low enough that the high deductible may not make economic sense.
I'm not taking any prescription drugs (not because of religious beliefs; I just haven't needed any). Would not needing the Part D benefit affect my other choices, or is it independent of those options?
Advantage plans usually include a drug benefit. Supplement/Medigaps do not. In order to avoid a late-enrollment penalty at a later date should you need medication, many enroll in the cheapest Part D - cost perhaps under $20/mo. You are allowed to change plans during Annual Open Enrollment.
Great advice to read through the links provided by Ariadne22 as always. To reemphasize, know the difference and limitations between the supplements and advantage plans. I'll add that , if you travel or intend to travel, the difference can be very important. I took me awhile before the lightbulb went on, then it was clear as to what my choice would be.
Wow, I had no idea how complicated Medicare was...
that thread www.city-data.com/forum/healt...nary-info.html was useful, though.... thanks!
After reading what people have gone through with Advantage plans, I think I'll choose standard Medicare.
You must have Medicare Part B in order to enroll in Advantage or purchase a Medigap. Medicare Part D is optional.
Re Medigaps, most newly-eligible people will choose either Plan G or Plan N.
If you are not concerned about excess fees which certain providers can charge - like Mayo Clinic - then Medigap Plan N covers everything with you paying only a very small copay for doctor appts. Because of the copay feature, N should have a noticable cost difference.
Fyi - it appears you are in CA? If you remain there and at some point wish to change Medigaps to lower the premium, CA has what is called the "birthday rule" - described here:
Great advice to read through the links provided by Ariadne22 as always. To reemphasize, know the difference and limitations between the supplements and advantage plans. I'll add that , if you travel or intend to travel, the difference can be very important. I took me awhile before the lightbulb went on, then it was clear as to what my choice would be.
Im turning 65 January 2021. South Dakota Resident but spend 80% of my time out of country where I also have good health care so wont need much of medicare but would like the option for the future where I might use it more.
Anyone with similar situation could give me an idea of best options? What do I look for for best emergency coverage while travelling? What are the limits etc. I have heard of 50K limits?
I'm turning 65 January 2021. South Dakota Resident but spend 80% of my time out of country where I also have good health care so won't need much of medicare but would like the option for the future where I might use it more.
Anyone with similar situation could give me an idea of best options? What do I look for for best emergency coverage while travelling? What are the limits etc. I have heard of 50K limits?
Thanks to all and have a great New Years!!
Medigap typically does cover $50K of medical costs out of the US but that's a lifetime limit so it won't go very far, even in countries with lower costs.
Is all your travel within Costa Rica (based on your screen name)? If it is, you're best off getting health insurance that specifically covers expatriates in CR. I saw lots of ads for this type of coverage in a paper in La Paz, Mexico, an area with a lot of expats. Most travel policies are meant to cover only a shorter trip, not 80% of the year.
If you're in remote areas a lot you may want to consider MedJetAssist, which covers evacuation to the US. I'll be in South America for 3 weeks in March and am considering buying that coverage even though I have good travel insurance already. It's expensive but even travel policies that include evacuation may take you only to an "acceptable" facility and not the best one to deal with your illness/injury. Last month a friend of mine had to go get his brother who had had a transient ischemic attack on a Caribbean Cruise and was sent to a hospital in St. Kitts. They stabilized him but he was in the hospital staring at 4 walls for 3 days- no phone, no TV, no physical therapy. Medicare/Medigap don't cover evacuation at all.
You must have Medicare Part B in order to enroll in Advantage or purchase a Medigap. Medicare Part D is optional.
Re Medigaps, most newly-eligible people will choose either Plan G or Plan N.
If you are not concerned about excess fees which certain providers can charge - like Mayo Clinic - then Medigap Plan N covers everything with you paying only a very small copay for doctor appts. Because of the copay feature, N should have a noticable cost difference.
Fyi - it appears you are in CA? If you remain there and at some point wish to change Medigaps to lower the premium, CA has what is called the "birthday rule" - described here:
If you bought an N, you could not move up to a G but you could switch to another less expensive Medigap N without health underwriting.
So, any Medigap decision you make today is not cast stone. Only a few states provide similar flexibility.
Wow, I didn't know it was THIS complex.... not only the many alternative plans, but also
the fact that the offerings vary significantly by state. I do live in CA now, but plan to move to OR soon;
how is OR in terms of Medicare choice?
Wow, I didn't know it was THIS complex.... not only the many alternative plans, but also the fact that the offerings vary significantly by state. I do live in CA now, but plan to move to OR soon; how is OR in terms of Medicare choice?
Medigap plans provide the same benefits in most states, but insurers in the state, pricing, and state rules vary. Fortunately, Oregon also has a birthday rule - so, you will have the same flexibility as in CA, if you wish.
Know that if you move to Oregon, you can keep the Medigap plan bought in CA if you so choose. You do need to notify the carrier of your move which may result in a repricing. You can also switch on your birthday without underwriting if you choose.
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Best option for out of country coverage
