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Medicare Advice?

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AngliaGT

AngliaGT

Great Pumpkin
Silver
Online
Well,this is the year.I have to decide which plan to go with.
I'm still working,& have insurance,so this will be secondary.
I figure that there must be a lot of money to be made from this,
with all of the mail I've received.
Help me out here!I know nothing about it.
 
Not knowing everyone's situation, I won't comment on the subject for individuals, but, I contacted my insurance co. Aetna and they said I don't need any of the advertised Medicare upgrades. Seems like most of them are private and not connected with the government Medicare programs. Looks like a money making venture to me.
 
AngliaGT said:
Well,this is the year.I have to decide which plan to go with.
I'm still working,& have insurance,so this will be secondary.
I figure that there must be a lot of money to be made from this,
with all of the mail I've received.
Help me out here!I know nothing about it.
Click to expand...

Hi Doug - are you asking whether to sign up for Medicare at age 65? or are you asking about which "Medicare supplement insurance" to get once you're enrolled in Medicare?

If you're working and already have health insurance, your best bet is to contact your current health insurance company (or your employer's benefits office) for their suggestions.

There are literally thousands of "supplements" to Medicare, all run under federal guidelines, but operated by private corporations.

My private insurance converted to "Medicare Advantage" when I turned 65, so just about everything medically necessary is covered. Feel free to ask questions!
Tom M.
 
Medicare has a good web site where you can get options on what is available in your area. Also contacting your current company insurance/company HR department is a very good suggestion too. Third option would be to contact a independent insurance broker who should know what your options are.
 
Call medicare.gov, they will help. I was going to use my old ins. for sup, and was aked why. All programs have to cover the same just add eye and dental if you want. Went from BCBS to Cigna, been good and copay is same. I also went to the local senior center snd talked with a medicare social worker. Since I used my wife's pharmacy ins. while she worked for two more years, I have been fined $7.50 a month for life for not signing medicare pharmacy immediately at 65.
 
As I recall, you have a window to sign up. I found the local Social Security office very helpful at that time. They have a booklet for you to look at as well. All US Government agencies should work as well. We also have AARP Medicare Supplemental Insurance to pick up the slack as well as AARP prescription coverage. Current coverages are costing $651.00 per month and are taken directly out of our Social Security checks each month so we get a net check. In all the years, we have not paid a dime in medical bills - and we've had some whoppers. We do pay a reduced price for prescriptions as our co-pay. Comparing plans is a fools errand. Try it - you may have better luck.
 
My medicare coverage is $148.50 a month and supplemental from Cigna $32 a month. Better call or visit medicare office. Wife's is $148.50 a month and $26.50 for Cigna supplemental includes her pharmacies. Ages 70/68. Anything done in last 8 yrs has been covered completely.
 
I think the $148 a month is the price for standard Medicare Part B. (No cost for Part A.) Standard Medicare pays for 80%, and you pay for the remaining 20% of the Medicare cost. Note that the Medicare cost for service is way less than the "retail cost." When I say "retail cost", that's what the doctor or hospital bills if you have no insurance. For example, a few years ago, I spent a week in the hospital. The "retail cost" was $107,000. Medicare cost was $16,000. Medicare paid about $15,000. I paid the rest with a blank check in the '60's.

Supplemental plans can cover the 20%, drugs (Part D), vision, dental, hearing aids, etc.
 
Yes, standard and my supplemental is cheap. Both have taken care of us. We did not take eye or dental, cheaper to pay out of pocket.
 
Very important to contact Medicare as you will be hit with a penalty as Larry stated if you delay. And it only covers 80 % what you add as a supplement will cost more depending on what you get in your State. high co-pays meds and the rest adds up. I turned 65 when I was in the hospital and the switch went smooth as they wanted there money. My ins was happy as it went from 100% to 20 % and I still never had to pay any money. The question is do you know the question to ask so get help. Madflyer
 
Hi Doug - are you asking whether to sign up for Medicare at age 65? or are you asking about which "Medicare supplement insurance" to get once you're enrolled in Medicare?

Tom M.

 
I'm still working full time,& have insurance,but since my birthday is tomorrow,
I don't want to incur any penalties.
 
Check the Medicare website. I “think” if you have other insurance, you can delay taking Medicare but you may have to inform them.
 
I think you need to enroll in Medicare when you become eligible. If you are still working and have employer insurance, Medicare will consider the employer insurance the primary coverage and it will have to pay first. You need to check all this with Medicare soon.
 
It is my understanding that you have roughly THREE months after your birthday to apply for Medicare. So get on it. If your birthday is on the first of the month, things are different. There is a 7 month application period roughly centered on your birthday and you have used up nearly half of it already. Just a tip and some encouragement! Happy Birthday!
 
I just went on Medicare this year. Being retired military my "secondary" insurance is TriCare for life.
 
Happy Birthday You will find Medicare is good every where in the USA were as some Ins. are not good in all states. I know a guy that got ill out of state and had to cover the 20%. I always get Ins. when out of the USA. It is not a question most people ask and some with high co-pays and caps on coverage are in fine print. Ins. Co. look at their bottom line not yours. Check on HMO's and PPO's they are not always the best plans. My daughter went to the ER only to find out it was not in her plan. AARP and the VA can be good if they have close offices. C 19 has made it clear Ins. is to die for. It is the one Ins. I hope you never have to use.

Madflyer
 
This site may be helpful: https://www.shiptacenter.org/ During open enrollment which just ended in December their live meetings are a good option, SHIPS provided costs for all the major suppliers and enough information to make an informed decision on supplemental insurance and all the various plans.
 
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