Medigap Plans to Rule Out?

[REWahoo]

Quote:

Originally Posted by TromboneAl Just finished talking with Brad at BoomerBenefits. He's great--almost too good to be true.

This is one of the very few times I can say "I told you so" without feeling like an @ss.

Quote:

Originally Posted by ivinsfan Glad you are moving ahead, hopefully after I see my broker on Thursday I'll have a resolution as well. Then I can concentrate on getting old in peace.

Good luck. I've found there's always something...

[travelover]

Quote:

Originally Posted by REWahoo This is one of the very few times I can say "I told you so" without feeling like an @ss. ............

You are screwed. Now, if TAl ever has a problem you'll be to blame.

[REWahoo]

Quote:

Originally Posted by travelover You are screwed. Now, if TAl ever has a problem you'll be to blame.

The commission makes that risk worth my while.

[kaneohe]

Quote:

Originally Posted by TromboneAl Just finished talking with Brad at BoomerBenefits. He's great--almost too good to be true. I'm signing up for Medigap G through Anthem Blue Cross, and he's going to recommend a drug plan when I fill out some forms.

just curious......what methodology do they use for pricing and how did their rate compare w/ AARP UHC which is community rated? The other 2 methods are issue age and attained age.

[TromboneAl]

Quote:

Originally Posted by kaneohe just curious......what methodology do they use for pricing and how did their rate compare w/ AARP UHC which is community rated? The other 2 methods are issue age and attained age.

Both answers are: no idea.


BB is great, SSA.gov is not so great. I couldn't create an account to check the status because I have a hold on my Equifax. Why do they need to do a credit check for me to have an SSA account? That led to more messy stuff, but I won't bore you.



Also, Anthem BC is behind the times, requiring a paper application (I did it on a PDF with annotation).

[Luvdogs]

I was doing this stuff for my DH about six months ago. It was very confusing but I finally figured things out.

He had employer retiree insurance so he gets a certain amount of $ back by going through their recommended broker--AON who weren't trying to sell any specific letter plan for the supplement or any specific prescription plan. But he did go through them for the $ back.

That said, once you choose a plan (letter) and the type of prescription plan--say for instance prescription plan Humana blah blah, then compare prices.

All/many/most brokers sell the same things so you are really comparing apples to apples.

I checked MANY of them and after all the work, the difference in prices were not much at all--as long as you are comparing the same exact type.

He has Plan F and the monthly difference was only about $10/month comparing several different brokers. But your costs will differ depending where you live for the same exact plan.

I'm pretty sure his prescription plan prices were pretty similar when comparing the exact same coverage.

[MBSC]

Quote:

Originally Posted by TromboneAl I'm signing up for Medigap G through Anthem Blue Cross.....

You gave your zip code as 95570 in another Medigap thread.

Quote:

Originally Posted by MBSC You can go directly to the CA DOI website below for the rates. Guide to Medicare Supplement Then, choose the 'Medicare Supplement Rates' link. On the comparison tool, choose age 65 (not under 65). Most policies will be listed under the Individual option but UHC/AARP plans are Group. For example, the United American HD-F is $315/yr. CA has a Birthday Rule allowing you to switch to another HD-F each year without underwriting if their rates go up or you don't like the company.

Plan G - Annual Rate for zip code 95570 before discounts (EFT payment, household, etc.)

UHC/AARP $1340
TransAmerica Premier Life $1365
Loyal American (a Cigna company) $1394
Anthem Blue Cross Blue Shield $1434

The UHC/AARP Supplement website confirmed the rate on CA DOI: https://www.aarpmedicareplans.com/he...ent-plans.html

The Anthem website confirmed the rate on CA DOI: https://www.anthem.com/ca/medicare/m...ns/california/

Both sites say they give a $24 annual ($2/mo) discount for EFT payments. Anthem says they give an additional $24 ($48 total) for an annual lump sum payment.

[TrvlBug]

If you are looking at costs and pay for a gym membership, don't overlook the insurers offering 'silver sneaker' benefit. We recently changed companies for DH medigap to AARP/UHC which offers silver sneakers. We currently pay $1500/yr for gym membership for the both of us and when I turn 65 next year, we will drop that and join one of the 3 gyms in our area that participate in silver sneakers. That's a HUGE cost impact.

[TromboneAl]

Quote:

Originally Posted by TromboneAl I couldn't create an account to check the status because I have a hold on my Equifax. Why do they need to do a credit check for me to have an SSA account?

I removed the hold for SSA and was able to register.


Here's why I think they wanted a credit report: They used the info to verify my identity. They asked questions about mortgages, old addresses, etc.

[Breedlove]

I am somewhat confused , last Friday we met with our Fidelity advisor . I was told that part A is free B costs around 135.00 and to get part F . Now here is where it gets confusing . He told me when I buy F even though DW is only 62 If I tell them that she is retired and has no plan that I can add her to my F.
Maybe I misunderstood this . but they recommend F and there are three different plans within F

[REWahoo]

Quote:

Originally Posted by Breedlove I am somewhat confused...

With advice like that, it's no wonder.

[Buckeye]

Quote:

Originally Posted by Breedlove I am somewhat confused , last Friday we met with our Fidelity advisor . I was told that part A is free B costs around 135.00 and to get part F . Now here is where it gets confusing . He told me when I buy F even though DW is only 62 If I tell them that she is retired and has no plan that I can add her to my F. Maybe I misunderstood this . but they recommend F and there are three different plans within F

That doesn't sound right. I thought everyone had to have their own supplemental policy. Hmm. And I thought Part B was at least $184 in 2018. F would be another $180+ or so, depending on where you live.

[Breedlove]

Believe me I got 50 pages of medicare material and Medigap basics . I know he said part A is free you buy a supplement B . He said all part B cost the same and I thought he said 135.00 He also discussed the three ways insurance companies set prices for the Medigap. He recommended Entry Age rated , buying at a young age and won't change as you get older . Could change because of inflation but not because of age .
Now here is the hard one he said if you demand you can get your wife on F even though she is not 65 if she is retired . I am going to try it
But really after I read this stuff My head wants to explode .

[Telly]

Quote:

Originally Posted by Breedlove Believe me I got 50 pages of medicare material and Medigap basics . I know he said part A is free you buy a supplement B . He said all part B cost the same and I thought he said 135.00 He also discussed the three ways insurance companies set prices for the Medigap. He recommended Entry Age rated , buying at a young age and won't change as you get older . Could change because of inflation but not because of age . Now here is the hard one he said if you demand you can get your wife on F even though she is not 65 if she is retired . I am going to try it.....

There was a song "Looking for love in all the wrong places". Maybe you're looking for Medicare info in all the wrong places! Insurance companies are not idiots. Maybe your advisor is... or out of his/her depth on Medicare.

The three Medigap policy rating methods that insurers may use are:
Community-Rated -- In my area, the only one is AARP/UHC.
Attained-Age rated -- Everyone else, except...
Issue-Age Rated -- Maybe one in my area. This is the one your advisor meant. Think about this... if you can get in at one price @ 65, and never have the premium go up because of your age (will still go up for inflation), and you were an insurance company, what would you price this option at?

Suggested reading sources:
Spend $11 on Amazon for the red book: https://www.amazon.com/Get-Whats-You...s+for+medicare

Free download: https://www.medicare.gov/pubs/pdf/10...re-and-You.pdf

The Red Book is a good primer, easy reading and a good reference.

[Katsmeow]

Quote:

Originally Posted by TrvlBug If you are looking at costs and pay for a gym membership, don't overlook the insurers offering 'silver sneaker' benefit. We recently changed companies for DH medigap to AARP/UHC which offers silver sneakers. We currently pay $1500/yr for gym membership for the both of us and when I turn 65 next year, we will drop that and join one of the 3 gyms in our area that participate in silver sneakers. That's a HUGE cost impact.

Hmmm...that is interesting. This must be state based. DH has Plan F with AARP/UHC (this is in Texas). Late last year they discontinued their involvement with Silver Sneakers. They said the new benefit would be so much better. The new benefit was 50% reduction in membership cost at some gyms. Of course a 50% reduction is not as good as free....

[MBSC]

Quote:

Originally Posted by Breedlove I am somewhat confused, last Friday we met with our Fidelity advisor. I was told that part A is free B costs around 135.00 and to get part F.

Your Fidelity advisor needs to stick with financial services. Medigap Plan F used to be the "go to" plan but this is now outdated information. Plan G is a better value in most markets. In Richards, TX, an UHC/AARP Plan F is $155/month. Their Plan G is $130, an annual savings of $300 before the $183 annual Part B deductible. The net savings on Plan G is $117/yr.

In addition to Telly's reading recommendations, I would suggest checking out a copy of "Medicare for Dummies" from your local library.

Quote:

Originally Posted by Breedlove He told me when I buy F even though DW is only 62 If I tell them that she is retired and has no plan that I can add her to my F.

A person must be enrolled in Medicare Parts A and B to be eligible for a Medigap plan. The Medigap pays second. The advisor may have been trying to explain that when she turns 65 and enrolls in Medicare, you both would qualify for a household discount on the Medigap plans if you both are with the same Medigap carrier.

Quote:

Originally Posted by Breedlove But really after I read this stuff My head wants to explode.

1. Decide between A) Medicare Advantage or B) original Medicare+ Medigap+ Part D.

2. If original Medicare, decide between Medigap Plans G, N, and High Deductible F.

3. If original Medicare, go to Medicare.gov and enter your drugs. The system will select the best Part D plan based on your medications. You are done.

[Dtail]

Quote:

Originally Posted by Breedlove Believe me I got 50 pages of medicare material and Medigap basics . I know he said part A is free you buy a supplement B . He said all part B cost the same and I thought he said 135.00 He also discussed the three ways insurance companies set prices for the Medigap. He recommended Entry Age rated , buying at a young age and won't change as you get older . Could change because of inflation but not because of age . Now here is the hard one he said if you demand you can get your wife on F even though she is not 65 if she is retired . I am going to try it But really after I read this stuff My head wants to explode .

Okay he got one thing right.

[REWahoo]

This needs to be a sticky so all the "I'm new to Medicare and confused!" posters can find it:

Quote:

Originally Posted by MBSC 1. Decide between A) Medicare Advantage or B) original Medicare+ Medigap+ Part D. 2. If original Medicare, decide between Medigap Plans G, N, and High Deductible F. 3. If original Medicare, go to Medicare.gov and enter your drugs. The system will select the best Part D plan based on your medications. You are done.

[wmc1000]

Quote:

Originally Posted by MBSC 1. Decide between A) Medicare Advantage or B) original Medicare+ Medigap+ Part D. 2. If original Medicare, decide between Medigap Plans G, N, and High Deductible F. 3. If original Medicare, go to Medicare.gov and enter your drugs. The system will select the best Part D plan based on your medications. You are done.

The only addition I have to this info is that for Part D you need to make sure your prescriptions are NOT limited by the potential plans QL, (Quantity Limits). DW has an Rx that was prescribed for 20mg tablets 2x per day. Lowest cost Part D plan had a QL of 30 tabs per mo. on the 20mg dosage even though she would need 60 per mo.

Luckily we had used Boomerbenfits.com to assist in the medicare supplement and drug plan process and they told us about this before we chose the Part D plan. Additionally they told us that there were no such QL on the 40mg dosage of the same drug

DW now takes 1 40mg tab per day of that drug so we were able to go with the lowest cost plan.

[Breedlove]

I could go with G but it does not pay any deductibles on part B . So what is the average deductible on part B . Or go with F and a high deductible , might be cheaper.