Wellness

[Mz iMac]

@fortune

Regarding your statement:  "How does the average person find out about all these options?"

If you are of Medicare age and/or already receiving Medicare, you should have already received your booklet "Medicare & You-2016."

This booklet explains everything about Medicare & the available insurance plans allowed BY YOUR STATE of domicile.  The booklet is customized to you & your state.

Wealth of info in the book.  However, it is info overload if your State has loads of insurance companies that work alongside Medicare.

[Moonchilde]

I read all of the official publications and websites, and while they tell you what all of your options are, they aren't very good at differentiating between the options in a way that will give you sufficient info to make a totally informed decision.

I would suggest to anyone in the investigative stages that they get the professional help of an insurance agent or retirement specialist - people who can clearly explain the pros and cons of every choice you will need to make.

I spent my entire working life in healthcare and thought I was pretty savvy about it all. Nope. Medicare, and SS, are bureaucratic mazes unlike anything else you've had to deal with up to now. I was very grateful for the unbiased guidance. It made sure I got the best coverage for me, balanced with the best price as well.

[151949]

AARP offers online and local town hall meeting where a person can learn about medicare and all the products out there. When you become eligible you will receive a book called medicare and you - a must read before you make any decisions. It will explain specifically all the options available to you where you live.

[151949]

I can not emphasize enough that you must not use this board as your source of this important information. There is a lot said here that is wholly or partially incorrect. 

[151949]

According to the Kaiser Foundation 40% of Florida residents who are medicare eligible and 31% nationally are choosing instead to use advantage plans.Those numbers greatly increase when younger age retirees only are polled. Older retirees who already had supplements before advantage plans became available seem to have stayed with those. You can Google the study to look at your state results.

[fortune]

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@Tinkrbl44 wrote:

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@fortune wrote:

I must say that this thread has been very enlightening for me.  I didn't know about the Medicare advantage plans being tightly regulated by Medicare!  it sounds like you really take your chances if you opt out of Medicare. How does the average person find out about all these options?  My employer did not explain any of this.  I've noticed that some of the Medicare advantage plans' advertisements say at the bottom of the ad that this plan has nothing to do with the federal government Medicare.  What does this mean?

It feels like I've been living on an alien planet to have escaped all the information and details about Medicare and Medicare Advantage plans.

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I have a background in various health insurance plans & supplements and LTC, and a few years back a friend asked me to help her sort out her Medicare decision.  She bought Medicare For Dummies (one of the Dummies books) which was very helpful,  and it was still a tad confusing!  

@fortune   I don't know if you are at Medicare age yet, but there are licensed agents for Medicare that can help with the variables, so do make phone calls and have things explained to you.  They can sign you up, as well.    (As it turned out, the Medicare agent and I recommended the same plan to her, so I felt validated!)

And, as always .... feel free to ask questions here for information gathering.     Ultimately, the decision is yours, but it really helps to know what questions to ask!  lol

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How does one get in touch with a licensed Medicare agent?  I called the phone number on my Medicare card and found out absolutely nothing--after being on hold for 15 minutes.

[Moonchilde]

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@fortune wrote:

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@Tinkrbl44 wrote:

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@fortune wrote:

I must say that this thread has been very enlightening for me.  I didn't know about the Medicare advantage plans being tightly regulated by Medicare!  it sounds like you really take your chances if you opt out of Medicare. How does the average person find out about all these options?  My employer did not explain any of this.  I've noticed that some of the Medicare advantage plans' advertisements say at the bottom of the ad that this plan has nothing to do with the federal government Medicare.  What does this mean?

It feels like I've been living on an alien planet to have escaped all the information and details about Medicare and Medicare Advantage plans.

---

I have a background in various health insurance plans & supplements and LTC, and a few years back a friend asked me to help her sort out her Medicare decision.  She bought Medicare For Dummies (one of the Dummies books) which was very helpful,  and it was still a tad confusing!  

@fortune   I don't know if you are at Medicare age yet, but there are licensed agents for Medicare that can help with the variables, so do make phone calls and have things explained to you.  They can sign you up, as well.    (As it turned out, the Medicare agent and I recommended the same plan to her, so I felt validated!)

And, as always .... feel free to ask questions here for information gathering.     Ultimately, the decision is yours, but it really helps to know what questions to ask!  lol

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How does one get in touch with a licensed Medicare agent?  I called the phone number on my Medicare card and found out absolutely nothing--after being on hold for 15 minutes.

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This site answers some questions and lists their members by state. There is special training and qualification involved.

http://www.medicaresupp.org/agents.php

or call the American Association for Medicare Supplement Insurance Help Desk - (818) 597-3205

[Jayjay]

I'm a few years from medicare but trying to learn what I can although I know things change all the time.

I'm curious...I know my dad pays about $180 a month for Supplemental B coverage but he's a veteran so he gets his medicines from the VA.

Can anyone tell me what they pay for Supplemental D coverage?  I know it varies but trying to get an idea of the cost.  I am on 4 meds and surely will need the coverage.  And then once the monthly premium is paid, how much are the meds (approximately)

Any info would be appreciated....thanks!

[151949]

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@Jayjay wrote:

I'm a few years from medicare but trying to learn what I can although I know things change all the time.

I'm curious...I know my dad pays about $180 a month for Supplemental B coverage but he's a veteran so he gets his medicines from the VA.

Can anyone tell me what they pay for Supplemental D coverage?  I know it varies but trying to get an idea of the cost.  I am on 4 meds and surely will need the coverage.  And then once the monthly premium is paid, how much are the meds (approximately)

Any info would be appreciated....thanks!

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We looked into changing over to a supplement and part D instead of our advantage plan - the least expensive part D we could find that covered all our meds was $60/month. So for the 2 of us that was $120/month, just for part D drug plan. Then on top of that to get a supplement that was equivalent coverage to our advantage plan was $250 a piece so $500 for us both adding up to $620 a month plus the $104 they take from each of our SS check to pay our medicare premium. It all totalled up to $828 a month for us both. Our advantage plan only costs us the $104 each they take from our SS check. Yes we do have some copays - $10 at our PCP and $40 for a specialist and $2 a month supply for tier 1 drugs. They do not at all compare to that high premium.It would be an awful lot of trips to the doctor to add up to over $800.

[Moonchilde]

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@Jayjay wrote:

I'm a few years from medicare but trying to learn what I can although I know things change all the time.

I'm curious...I know my dad pays about $180 a month for Supplemental B coverage but he's a veteran so he gets his medicines from the VA.

Can anyone tell me what they pay for Supplemental D coverage?  I know it varies but trying to get an idea of the cost.  I am on 4 meds and surely will need the coverage.  And then once the monthly premium is paid, how much are the meds (approximately)

Any info would be appreciated....thanks!

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It depends on what medications you take or are likely to need (that's possible to foresee). Since I was in an HMO before I retired, I had been getting generics for years. I am lucky enough right now that my Rxs are all generic. 

My monthly premium for Part D is $25. When I fill my monthly prescriptions at the drugstore, my total averages $6-7 for four medications, other meds are about $3 apiece.

For my particular Supplement the premium is $118/mo. Any "billing overage" charges are paid for, but I pay the Part B deductible which is $166/yr.

Something I wasn't aware of before I had to start investigating - MDs who take Medicare usually accept what Medicare pays - but they don't have to. They are legally allowed to charge the patient up to 15% over and above. That's why I chose the coverage I did, because you never know what will happen to you or what doctors you will need in the future. I may have to pay the small yealy deductible, but mt supplement covers the 15%.