Nova
Recycles dryer sheets
- Joined
- Apr 23, 2010
- Messages
- 270
Oh no...not another Medicare thread. First, let me say that I've done a lot of homework and I did a search on this board...Medicare, Advantage, Medigap, Supplement. Comments on this board have given me a lot of "oh, that's what it means" moments. I have always considered myself to be fairly intelligent, but this stuff is confusing.
For those of you looking only for my question, see the sentence in bold below.
When I first started getting Medicare information, I had a positive attitude and was anxious to read everything I could about my choices. I figured I could read through the information and make an informed decision. The more I read, the less I am sure of what I should do. I live in an area where there is a large senior population and the Advantage option is a popular choice. Problem I see is that the 4.5 quality star rating (guidance from Medicare) facilities are HMOs...low monthly premiums, co-pays, significant potential out of pocket expenses should you have real health problems. The Medigap/Supplemental policies (looking at F, possibly F* high deductible) have significantly larger premiums, but cover basically all medical costs.
DH (who will be eligible two months after I am) and I are in good health (no meds). Even if I had significant health issues, any medicare option I choose must accept me without medical qualification. Sales pitches vary from...you are in good health and don't need to pay for the higher premiums of a medigap policy...to...the choice you make now is one that will have long term consequences so if you want to protect yourself from large out of pocket expenses you might have when you are older (sick and feeble?) you should choose a supplement so you won't have to worry about huge medical bills in the future. From what I understand, if one is in good health and initially opts for an Advantage plan (low premiums, etc.), and at a later date develops...say cancer or some other significant illness...one must medically qualify for a supplement policy. Probably not possible to qualify. So, one is "stuck" with the original decision. Of course, if one's health remains good, it is possible to switch to another plan during open season.
BTW, I am sort of thinking out loud and if I have a misconception, please speak up and let me know.
I am aware that there is a limited period during which a 65 year old can request a "do-over" decision, and Advantage plans and Medigap plans must accept that person without medical qualification. Whew! If I make the wrong decision, at least I can correct it. Now if I could only determine which decision is right, and if I could tell that I made the wrong decision in time to correct it.
I looked on line to see what companies offer supplements in Arizona. USAA was listed, so I called. They were very straightforward. She said all plans are standardized per Medicare, so one is only shopping for price and stability of the insurer. They only offer plans A, C and F, no F* high deductible. They use the issue-age rate, so at least they don't increase the premium every year just because you are a year older, but they do have annual increases...usually about 7%. I did a spreadsheet on that...out to 100 years of age...times two. Sort of took my breath away. I digress. Does anyone have any experience with USAA's suplement F policy. Everything else I have with USAA has been top notch.
I would love to hear from those of you who have ventured through this decision process recently and might have some advice to offer. Has anyone done a "do-over" and would care to say why you decided to do so.
For those of you looking only for my question, see the sentence in bold below.
When I first started getting Medicare information, I had a positive attitude and was anxious to read everything I could about my choices. I figured I could read through the information and make an informed decision. The more I read, the less I am sure of what I should do. I live in an area where there is a large senior population and the Advantage option is a popular choice. Problem I see is that the 4.5 quality star rating (guidance from Medicare) facilities are HMOs...low monthly premiums, co-pays, significant potential out of pocket expenses should you have real health problems. The Medigap/Supplemental policies (looking at F, possibly F* high deductible) have significantly larger premiums, but cover basically all medical costs.
DH (who will be eligible two months after I am) and I are in good health (no meds). Even if I had significant health issues, any medicare option I choose must accept me without medical qualification. Sales pitches vary from...you are in good health and don't need to pay for the higher premiums of a medigap policy...to...the choice you make now is one that will have long term consequences so if you want to protect yourself from large out of pocket expenses you might have when you are older (sick and feeble?) you should choose a supplement so you won't have to worry about huge medical bills in the future. From what I understand, if one is in good health and initially opts for an Advantage plan (low premiums, etc.), and at a later date develops...say cancer or some other significant illness...one must medically qualify for a supplement policy. Probably not possible to qualify. So, one is "stuck" with the original decision. Of course, if one's health remains good, it is possible to switch to another plan during open season.
BTW, I am sort of thinking out loud and if I have a misconception, please speak up and let me know.
I am aware that there is a limited period during which a 65 year old can request a "do-over" decision, and Advantage plans and Medigap plans must accept that person without medical qualification. Whew! If I make the wrong decision, at least I can correct it. Now if I could only determine which decision is right, and if I could tell that I made the wrong decision in time to correct it.
I looked on line to see what companies offer supplements in Arizona. USAA was listed, so I called. They were very straightforward. She said all plans are standardized per Medicare, so one is only shopping for price and stability of the insurer. They only offer plans A, C and F, no F* high deductible. They use the issue-age rate, so at least they don't increase the premium every year just because you are a year older, but they do have annual increases...usually about 7%. I did a spreadsheet on that...out to 100 years of age...times two. Sort of took my breath away. I digress. Does anyone have any experience with USAA's suplement F policy. Everything else I have with USAA has been top notch.
I would love to hear from those of you who have ventured through this decision process recently and might have some advice to offer. Has anyone done a "do-over" and would care to say why you decided to do so.