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We are beginning the search for health insurance with DH retiring 5/1. I’ve been reading through the threads here, gleaning information for Medicare/MediGap/Advantage plans. MediGap plans seem better in the long run to me, while DH is being enticed by the low cost Advantage plans. We are in average to good health at this point.
DH got a call from an insurance broker from the services company that provides insurance, pension administration and healthcare insurance with his employer. The insurance broker was pushing the Advantage plans. DH asked her what happens if we pick an Advantage plan and decide to switch to a MediGap. Her answer was we could switch from one Advantage plan to another during the enrollment plan starting in October. No mention that after a period of time there is no switching from an Advantage plan to a MediGap plan. DH ended the conversation soon after that, realizing this was a for-profit call.
We expected more impartiality than this, but it comes as no surprise as this company wanted to manage DH’s 401k for a 2%+ yearly fee. Besides going through the threads and the Medicare site, is there another site for more info that anyone can recommend? Thanks for any help.
Jean: Have you inquired at your local senior center? There is usually a person (or 2) who have all the smarts about choosing a medicare plan. The person here does personal as well as group consults (for free). She is well versed on changes, rules, etc and even doctors. They hold seminars periodically to address this issue. It doesn't help to tell you what I have because it will certainly be different where you are.
In Florida, another source of local info re Medicare is FL's SHIP group, known as SHINE "(Serving Health Insurance Needs of Elders)" at SHINE - Home
" The SHINE program supports the Florida Department of Elder Affairs’ mission by providing free and unbiased health insurance counseling through a dedicated network of volunteers, empowering Florida seniors to make informed health care choices."
In Florida, another source of local info re Medicare is FL's SHIP group, known as SHINE "(Serving Health Insurance Needs of Elders)" at SHINE - Home
" The SHINE program supports the Florida Department of Elder Affairs’ mission by providing free and unbiased health insurance counseling through a dedicated network of volunteers, empowering Florida seniors to make informed health care choices."
Thank you for that! I still have a card from a seminar with Shine at our library two years ago. The speaker was very informative, well-versed and very opinionated.
I believe we qualify for a high deductible Plan F or F plan since we both turned 65 in 2019 and they are one of our choices in our zip code. Mututal of Omaha was on the low end of the expected ranges. Medicare provides. There are three other companies that are entry-age and the other six had unknown.
Mutual of Omaha is the only company that gave rates online, the rest wanted me to fill out a questionnaire and will get back to me with quotes. They probably want a chance to sell us an Advantage plan. I should be more open-minded.
I’m slowly becoming educated and I’m either burning brain cells or building them, I ‘m not sure which right now. I’ll call the Shine representative and get their opinion next week, great suggestion!
Jean: Have you inquired at your local senior center? There is usually a person (or 2) who have all the smarts about choosing a medicare plan. The person here does personal as well as group consults (for free). She is well versed on changes, rules, etc and even doctors. They hold seminars periodically to address this issue. It doesn't help to tell you what I have because it will certainly be different where you are.
Thank you, there is a Senior Friendship Center in our town that most likely could help. They offer a wide range of services and programs for seniors. We don’t need to go this alone.
A relative had the Aetna Medicare Advantage plan. IMO he was poorly served with a limited network of providers, denied needed care, and the appeals process for denials is essentially useless. Yes, the monthly premium is zero dollars, but I’d rather pay $100 a month under a Medigap plan and have open access to specialists, fewer worries when traveling, and not have an adversarial relationship hanging over every medical decision.
Ariande22 has given some very good advice here...one bit of advice was Mutual of Omaha plans start cheap but their rates rise quickly. Look at AARP/UHC medigap plans, they are community rated and their rates are much more stable in their increases. I went with a medigap plan with them and haven't regretted it.
Ariande22 has given some very good advice here...one bit of advice was Mutual of Omaha plans start cheap but their rates rise quickly. Look at AARP/UHC medigap plans, they are community rated and their rates are much more stable in their increases. I went with a medigap plan with them and haven't regretted it.
lol.....this is generally true in most states - EXCEPT in FL which mandates issue-age pricing. Even AARP UHC uses issue-age pricing in FL.
So, it is easier to compare plans in that state as all carriers use the same pricing method. With issue-age, premium increases are due to rise in medical costs, not age. Nonetheless, starting prices will vary with each company.
That said, OP should ask representatives from several companies to provide a history of price increases. Even though the plan is issue-age, it's best to compare the premium performance of a few companies over five years or longer. I don't trust MOO not to be aggressive in price increases no matter how the policy is priced.
A high-deductible F is certainly an excellent, cost-effective Medigap, which retains provider flexibility without the Advantage plan oversight and networks. Many here have a high-deductible Medigap. Consider it a catastrophic Medigap.
Advantage plans look inexpensive until they aren't. However, since OP's choice sounds like it is a retiree Advantage plan, the caveat of health underwriting if one chooses to leave should not be a factor. For retiree coverage, Medicare allows guaranteed issue for Medigaps if "plan is ending" - per this:
Quote:
Originally Posted by SCGamecock
See below. The Medigap carrier doesn't care why the retiree plan is ending (voluntary or involuntary).
Quote:
You have Original Medicare and an employer group health plan (including retiree or COBRA coverage) or union coverage that pays after Medicare pays and that plan is ending.
You have the right to buy
Medigap Plan A, B, C, F, K, or L that’s sold by any insurance company in your state. You can/must apply for a Medigap policy no later than 63 calendar days.
1. Applicant loses, learns they have lost, or drops employer coverage.
Notice, letter or other documentation from prior insurer must include...
• Applicant’s name.
• Plan Type – confirmation that it’s employer coverage being lost.
• Coverage termination date.
Thanks for the helpful posts. We were accepted for a high deductible F Plan, we only had three choices, and went with the lowest priced part D, since we take one medicine at this point.
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