Medicare Supplements

[lawman]

My wife and I are approaching Medicare eligibility..The supplements are confusing..Other than Advantage Plans is plan F the most comprehensive? Looking for general discussion here as we are rapidly approaching the time to make decisions..Thanks..

[SheitlQueen]

Quote:

Originally Posted by lawman My wife and I are approaching Medicare eligibility..The supplements are confusing..Other than Advantage Plans is plan F the most comprehensive? Looking for general discussion here as we are rapidly approaching the time to make decisions..Thanks..

I'm in the same situation. Plan F is the most comprehensive but the most expensive. I'm going for plan G because it is identical to Plan F except you have to pay the Medicare deductible. Plan G is cheaper and the savings is enough to more than pay for the deductible. Plan F is also going away next year, although you can still sign up for it this year.

[Another Reader]

Read the other Medicare threads. Beware of Advantage plans. Try Boomer Benefits or Senior Savings Network for unbiased advice. Senior Savings Network has a number of helpful videos.

[Crabby Mike]

Quote:

Originally Posted by Another Reader Beware of Advantage plans.

I wouldn't necessarily say that. I think they work well for some people, depending on their location, lifestyle, medical needs, etc. Just not me (a happy Plan G subscriber).

[travelover]

It might be more accurate to say "be sure you fully understand the difference between Medicare Advantage and traditional Medicare with a supplement plan". There are important differences, which have been discussed to death here, but for a newbie it is all news.

[athena53]

Quote:

Originally Posted by Another Reader Try Boomer Benefits or Senior Savings Network for unbiased advice.

I've seen some of Boomer Benefits' posts and agree- clear and unbiased.

Interesting coincidence: talked to my Dad last night; he'd switched to Medicare Advantage 1/1 after being heavily marketed to by agents. Last week he found that a procedure his doc wanted to to (urologist, believe me, TMI) wasn't covered at all by Medicare Advantage and would cost $8,000 out of pocket. Dad, who's still pretty sharp at age 87, was stunned because Medicare covers the procedure and because he'd been told his out-of-pocket max under Medicare Advantage would be something like $6,000. (The max, of course, wouldn't apply to procedures not covered. )

Fortunately he was in the 3-month period when he could change his mind. He's already back on regular Medicare.

[MichaelB]

Quote:

Originally Posted by lawman My wife and I are approaching Medicare eligibility..The supplements are confusing..Other than Advantage Plans is plan F the most comprehensive? Looking for general discussion here as we are rapidly approaching the time to make decisions..Thanks..

This is a recent, excellent general discussion you are sure to find helpful http://www.early-retirement.org/foru...ath-94740.html

[calico1597]

I'm on plan G. If you plan to travel much or become a snowbird, stay away from the Advantage plans. This was the advice from my insurance agent.

[lawman]

Thanks to all!

[wmc1000]

See BoomerBenefits.com video on How to Choose Medigap plans:



https://youtu.be/mevsp1L5gjY

[lawman]

Quote:

Originally Posted by wmc1000 See BoomerBenefits.com video on How to Choose Medigap plans: https://youtu.be/mevsp1L5gjY

Thanks..You guys have provided a lot of helpful links!

[Throwdownmyaceinthehole]

We just went thru picking a supplement and chose Plan N which was cheaper but a possible $20 doctor copay. And all these Plans cost varies between providers. It's tough trying to compare the various plan costs between various providers.

[lawman]

My wife is still teaching and I am carried as a dependent on her Employers Group Plan..I just found out that as long as she is working we do not need to sign up for Part B Medicare..My concern is that if we wait until she quits working we will have to pay a penalty for waiting..Supposedly as long as we sign up before she stops working we will not be penalized but I worry as to how difficult it will be to jump through the hoops necessary to make this exception..

[wmc1000]

Quote:

Originally Posted by lawman My wife is still teaching and I am carried as a dependent on her Employers Group Plan..I just found out that as long as she is working we do not need to sign up for Part B Medicare..My concern is that if we wait until she quits working we will have to pay a penalty for waiting..Supposedly as long as we sign up before she stops working we will not be penalized but I worry as to how difficult it will be to jump through the hoops necessary to make this exception..

Lawman you will have a special enrollment period for part B with no underwriting requirements when you are no longer covered by your souses group coverage.

[lawman]

Quote:

Originally Posted by wmc1000 Lawman you will have a special enrollment period for part B with no underwriting requirements when you are no longer covered by your souses group coverage.

okay...That's my understanding...Thanks for confirming

[folivier]

One thing I found out while investigating my options is that when you first turn 65 you can enroll in any plan without worrying about pre-existing conditions. My application for plan G only asked if I was a smoker and my height and weight. But IIUC after your initial enrollment period a pre-existing condition could cause you a problem if you want to change your plan in another year. IOW best to get the higher plan now.

[lawman]

Quote:

Originally Posted by folivier One thing I found out while investigating my options is that when you first turn 65 you can enroll in any plan without worrying about pre-existing conditions. My application for plan G only asked if I was a smoker and my height and weight. But IIUC after your initial enrollment period a pre-existing condition could cause you a problem if you want to change your plan in another year. IOW best to get the higher plan now.

So do the same special enrollment rules apply for supplements that apply to Part B?

[Telly]

Quote:

Originally Posted by lawman So do the same special enrollment rules apply for supplements that apply to Part B?

Yes. If done properly, your special enrollment period will have the same characteristics as an initial enrollment period.

Your DW's employer should send you a letter that specifies that the group plan that you are on with them qualifies as suitable insurance in lieu of Medicare, as long as you are on it. If you are well into your 64th year and have not received such a letter, request one.

It is important that the insurance you are on is suitable, otherwise the penalty will apply forever when you join Medicare. NOT SUITABLE, as an example, is COBRA coverage. The person holding the insurance (your DW, in this case), must be employed and have the insurance. COBRA is not employed.

Medigap supplemental plans, like Plan F, G, N, etc. follow the same rule, as they follow the rules of Medicare.

For safety, get the letter, get it in print, not a phone call answer. I have heard of some employee spousal coverage that required the spouse to sign up for Medicare Part A (Hospitalization), when he/she reached age 65. The employment plan covered everything else.

If you have not done so, compare the total costs of you going off onto Medicare by yourself, versus staying on DW's insurance. It's possible that DW, dropping back to employee-only coverage without you, may drop the employment insurance so much, that the overall cost may be significantly cheaper, even with you picking up Medicare and a Medigap Plan plus a Part D Drug Plan (or Medicare Advantage Plan in lieu of Medigap + Drug Plan). It happens in cases where the family or spousal employment insurance plans subsidize the single worker insurance. Like keeping a teacher's working insurance cost low... then sock it to adding spouse or family. I have seen worker + spouse at 10 times the premium of just worker alone!

[lawman]

Great info! That's what I'm looking for thanks a ton!

[Midpack]

Quote:

Originally Posted by MichaelB This is a recent, excellent general discussion you are sure to find helpful http://www.early-retirement.org/foru...ath-94740.html

I am about to enroll for the first time, and I came to the same conclusions Telly did (before reading the thread). So it was reassuring to read the thought process.

REW has also published several Medicare/Medigap posts that were very helpful to me.

I'm confident I'm prepared to enroll thanks to all I've read including (but not limited to) here, I don't think my insurance guy will have much trouble guiding me.