Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
As I examine the AARP rate tables, I realized that, while I can't afford the "good" plans G/N, I can afford premiums for Plans K and L. Plan K is the cheapest, with a high deductible of $5880. Plan L has a lower deductible of $2940.
The problem those Plans present is that of not covering Excess Charges, which seemingly have no limit whatsoever.
Thus, CV-19 treatments are likely to result in massive debt, with or without Medigap Plans K/L.
Analyzing Advantage plans would be a real chore I hope to avoid.
You are better off with a high-deductible F plan rather than K or L. Max out of pocket is $2,340. Medicare still pays its 80% - AND it covers excess charges.
High deductible plan premium should be lower than either K or L. Many here have the high-deductible Medigap - all the worst case coverage, no networks, without the higher premium.
Avoid Advantage if you can, although it might be helpful with drug costs which is why many people choose Advantage. You should read this:
Further, you would probably have to wait until October to enroll in Advantage beginning Jan 2021, as Open Enrollment has closed - unless because of ths health crisis this has been relaxed. Again, call your SHIP people.
Last edited by VTsnowbird; 03-28-2020 at 05:52 AM..
Reason: poster request to fix an error
I am not seeing a rate for high-deductible F, so it might not be available in my zip code (or TX? or just AARP/UHC?). F is the 2nd highest rate of all plans for some reason.
I noticed a clause concerning pre-existing conditions that will be critical to timing for getting a policy. My six-month checkups for chronic conditions make it possible to time the policy in between checkups. This clause might make it possible for me to afford the good plans without risking bankruptcy. This gives me hope. I'm not sure that this clause governs the rate determination, though.
"Expenses you incur during the first 3 months after your effective date will not be considered if due to a pre-existing condition. A pre-existing condition is a condition for which medical advice was given or treatment was recommended by or received from a physician within 3 months prior to your plan’s effective date."
The new $2T legislation and potential $1200 "rescue" may make it possible for me to pull the trigger on Medigap and get through the initial personal budget adjustments for the premiums. I just have to dodge the virus until the money actually appears. The current administration doesn't seem very reliable in crisis.
Last edited by highplainsrus; 03-28-2020 at 05:55 AM..
I am not seeing a rate for high-deductible F, so it might not be available in my zip code (or TX? or just AARP/UHC?).
As I said upthread, AARP does not offer a high-deductible plan in any state.
Do a search on Medicare.gov for plans in your zipcode. There are a number of carriers in TX who offer high-deductible plans. You would need to call their customer service for a quote.
I dealt wth SL&A a number of years ago, very good conversation, did not steer me to an agent, just emailed me quotes for their various plans. Zero hassle.
Also talked to American Republic direct - very nice customer service - was willing to provide quote and took application over the phone. Good experience there, too.
Some companies like Physician's Mutual will insist on an sending you to one of their agents. In my experience, while it is a very good company, their rates are too high. Humana will probably be higher than the others as well.
Premiums are age-based. Some companies will take people with medical conditions and charge a higher premium.
Fyi - attained-age rating is fine for a high deductible plan. You should not experience significant premium increases because the deductible goes a long way to buffering the carrier's exposure. One poster here insured w/SL&C - and had no increases for a couple of years. When premium was finally increased, it amounted to a couple of dollars. When I was with Physician's Mutual, they actually lowered the premium after the first year. So, don't worry about attained-age pricing on a high-deductible plan.
Yes, now I see the high-deductible plans and companies. The high-ded F looks pretty good, with six companies to compare. Maybe one of them will stand out.
Now that you all are helping me sort through all this, I will make a full-court press and check all the companies in zip 76310 for quotes and printed applications to study. thanks again for the tips. It seems odd to get Original Medicare A/B 80% coverage for $144.60/mo, then have to pay 2-3 times that to get the 20% coverage. That's just the insurance game, I guess.
Last edited by highplainsrus; 03-28-2020 at 08:59 PM..
Can I recommend that you contact boomerbenefits.com? They'll do all the comparison work for you with no pressure and their help won't cost you anything.
They're based in Fort Worth but write policies for all states but Massachusetts and New York. I went through them three years ago and everyone I've dealt with there has been great. Poke around their website or give them a call. Several friends have also been satisfied with their service.
I was making myself absolutely crazy trying to check and compare everything. You've got nothing to lose by checking them out and may save yourself some time and your sanity.
Yes, now I see the high-deductible plans and companies. The high-ded F looks pretty good, with six companies to compare. Maybe one of them will stand out.
Now that you all are helping me sort through all this, I will make a full-court press and check all the companies in zip 76310 for quotes and printed applications to study. thanks again for the tips. It seems odd to get Original Medicare A/B 80% coverage for $144.60/mo, then have to pay 2-3 times that to get the 20% coverage. That's just the insurance game, I guess.
That's because @ $144.60, you are only covering 25% of the "actual" premium for Part B.
"• Part B - For most beneficiaries, the government pays a substantial portion — about 75 percent — of the Part B premium, and the beneficiary pays the remaining 25 percent. If you’re a higher-income beneficiary, you’ll pay a larger percentage of the total cost of Part B based on the income you report to the Internal Revenue Service (IRS). You’ll pay monthly Part B premiums equal to 35, 50, 65, 80, or 85 percent of the total cost, depending on what you report to the IRS (for 2020, that would be on your 2018 tax return"
Can I recommend that you contact boomerbenefits.com? They'll do all the comparison work for you with no pressure and their help won't cost you anything.
They're based in Fort Worth but write policies for all states but Massachusetts and New York. I went through them three years ago and everyone I've dealt with there has been great. Poke around their website or give them a call. Several friends have also been satisfied with their service.
I was making myself absolutely crazy trying to check and compare everything. You've got nothing to lose by checking them out and may save yourself some time and your sanity.
At first glance through the website, it looks like it could be a very good, legitimate resource. I'm naturally skeptical of agents and anyone in the insurance racket, having known some of them personally. This bunch looks like the exception. I plan on giving them a try. Thank you.
"• Part B - For most beneficiaries, the government pays a substantial portion — about 75 percent — of the Part B premium, and the beneficiary pays the remaining 25 percent. If you’re a higher-income beneficiary, you’ll pay a larger percentage of the total cost of Part B based on the income you report to the Internal Revenue Service (IRS). You’ll pay monthly Part B premiums equal to 35, 50, 65, 80, or 85 percent of the total cost, depending on what you report to the IRS (for 2020, that would be on your 2018 tax return"
I can't believe I overlooked this whole webpage. My librarian training taught me to be skeptical of wikipedia as an information source, but I like it when viewed in the right perspective. This entry is very useful. Thank you for pointing it out. This is a good time to study these things as a relief from the news and streaming video while sheltering-in-place. I have 40-50 windows open on my browser while I study up and this webpage has earned a slot. It contains an important phrase - "health literacy". I would add "personal finance literacy", since most of us are trying to optimize goods and services with a limited, fixed income.
Being a senior is a full-time lifestyle.
Last edited by highplainsrus; 03-29-2020 at 06:27 AM..
Can I recommend that you contact boomerbenefits.com? They'll do all the comparison work for you with no pressure and their help won't cost you anything.
They're based in Fort Worth but write policies for all states but Massachusetts and New York. I went through them three years ago and everyone I've dealt with there has been great. Poke around their website or give them a call. Several friends have also been satisfied with their service.
I was making myself absolutely crazy trying to check and compare everything. You've got nothing to lose by checking them out and may save yourself some time and your sanity.
I did contact them by email and the representative was very prompt to reply.
The bad news is that she thinks my situation makes me ineligible for any underwriting with any available company - so no Medigap for me.
I see now that these folks have a nice webpage explaining underwriting. https://boomerbenefits.com/medigap-underwriting/
I just noticed this statement on the medicare.gov site that might apply.
I'll have to study up on it.
oops..this is from a ehealth medicare.com site. maybe useless info.
"If you join a Medicare Advantage plan and decide to switch back to Original Medicare within a year, you have a “trial right” to buy any Medigap plan."
Last edited by highplainsrus; 03-30-2020 at 02:03 PM..
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
