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Bridging the gap to Medicare
Old 11-16-2009, 10:37 AM   #1
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Bridging the gap to Medicare

So I'm thinking hard about health insurance and have some pretty dumb questions about Medicare. I think most of us young folks (I'm 48) don't know too much about it's practicaities.

1) When does it start? At 62 or when you start taking SS?
2) How much is the Part B premium? Is there any Part A cost
3) What are Parts C and D?
4) Do most people buy gap insurance, if so what does it cost?
5) If you have health insurance from MegaCorp or as a ERed State employee does that coverage stop when you become eligible for Medicare.
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Old 11-16-2009, 12:00 PM   #2
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It starts at age 65. Part A is free if you are Medicare qualified. Part B has a premium which varies with your income, and usually is increased annually. There is no part C. Part D is a drug plan. I don't know if most people by a medigap policy; I do. The answer to your last question depends on the particulars of the corp or public plan. Public plans are mroe likely to continue past Medicare age.

All of this will almost certainy be quite different by the time a 48 year old is Medicare age.

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Old 11-16-2009, 01:37 PM   #3
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Originally Posted by nun View Post
So I'm thinking hard about health insurance and have some pretty dumb questions about Medicare. I think most of us young folks (I'm 48) don't know too much about it's practicaities.
There was a thread not too long ago (year, perhaps) that covered this pretty thoroughly. You could do a search.

In any event, you should start with the SS website so not only will you be completely confused but have even more questions to ask of us. Another real good source (seriously) is your State's Insurance Department (whatever it may be called).
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Old 11-16-2009, 01:56 PM   #4
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Part C (an uncommon terminology to me at least) refers to Medicare Advantage Plans (a much more common terminology). You can learn a bit here:
Medicare

Kind of sounds like A,B,D or C, D would be "complete" packages of hospital, doctors & lab tests, and drugs. There is an excellent book in the Dummy or Idiots series (can't remember which) about Medicare that you might be able to find in your public library.

One useful thing to know about Medicare ........it doesn't cover you overseas even in emergencies. It is possible that the Advantage plans might but I'm not sure.

My limited experience w/ corporate plans is that they continue on after Medicare starts but Medicare is primary and corporate plan becomes a supplement so the corporate plan becomes cheaper than before Medicare, but because you are now paying for Medicare the total cost is more........not unreasonable since you are aging. The other election is that Medicare and the private plan essentially become an Advantage plan.

Pt B premiums: https://questions.medicare.gov/cgi-b...7Nj&p_lva=2100
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Old 11-16-2009, 02:00 PM   #5
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My limited experience w/ corporate plans is that they continue on after Medicare starts but Medicare is primary and corporate plan becomes a supplement
That is the way it works with federal employees as well. We have lifetime health insurance, but as soon as we are eligible for Medicare, it is primary and our federal health insurance is secondary.
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Old 11-16-2009, 02:01 PM   #6
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Originally Posted by kaneohe View Post
Part C (an uncommon terminology to me at least) refers to Medicare Advantage Plans (a much more common terminology). You can learn a bit here:
Medicare

Kind of sounds like A,B,D or C, D would be "complete" packages of hospital, doctors & lab tests, and drugs. There is an excellent book in the Dummy or Idiots series (can't remember which) about Medicare that you might be able to find in your public library.

One useful thing to know about Medicare ........it doesn't cover you overseas even in emergencies. It is possible that the Advantage plans might but I'm not sure.

My limited experience w/ corporate plans is that they continue on after Medicare starts but Medicare is primary and corporate plan becomes a supplement so the corporate plan becomes cheaper than before Medicare, but because you are now paying for Medicare the total cost is more........not unreasonable since you are aging. The other election is that Medicare and the private plan essentially become an Advantage plan.
I did a bit of reading of my State plan and at 55 I can ER with the same health benefits I have now and pay the same premium which is $100/month for good individual coverage. At 65 Medicare kicks in and I go over to a Medicare supplemental plan that fills in the gaps of Parts A and B. At today's rates I'd be paying $96 for Part B and $80 for the suplemental coverage....so my health insurance costs would actually go up once I'm in Medicare.......
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