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Bridging the gap to Medicare
11-16-2009, 09:37 AM
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#1
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Thinks s/he gets paid by the post
Join Date: Feb 2006
Posts: 4,872
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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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11-16-2009, 11:00 AM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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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.
Ha
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11-16-2009, 12:37 PM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2007
Location: Denver, Colorado
Posts: 6,256
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Quote:
Originally Posted by nun
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.
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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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"It's tough to make predictions, especially when it involves the future." ~Attributed to many
"In theory, there is no difference between theory and practice. But, in practice, there is." ~(perhaps by) Yogi Berra
"Those who have knowledge, don't predict. Those who predict, don't have knowledge."~ Lau tzu
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11-16-2009, 12:56 PM
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#4
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Thinks s/he gets paid by the post
Join Date: Jan 2006
Posts: 4,172
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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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11-16-2009, 01:00 PM
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#5
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,472
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Quote:
Originally Posted by kaneohe
My limited experience w/ corporate plans is that they continue on after Medicare starts but Medicare is primary and corporate plan becomes a supplement
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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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11-16-2009, 01:01 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Feb 2006
Posts: 4,872
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Quote:
Originally Posted by kaneohe
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.
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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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