How much is Medicare and all that goes with it?

[Yoheadden]

Thank you for clarifying. I am not near the age for Medicare, so it is good to have these threads to show the facts. This brings all the little bits of information that is out there together and help us make the best decisions for each of our situations.

 

[Dash man]

Thank you for clarifying. I am not near the age for Medicare, so it is good to have these threads to show the facts. This brings all the little bits of information that is out there together and help us make the best decisions for each of our situations.

Boomer Benefits has a series of three videos on YouTube discussing IRMAA (Income Related Monthly Adjustment Amount).

 

[buzzro]

When I started at age 65

104.50 Part B
12.60 Part D (bare bones - no serious med needs)
70.00 MediGap F (high deductible)
--------------
187.10 monthly

At age 72

148.50 Part B
17.60 Part D
96.00 MediGap F (high deductible)
--------------
262.10 montly

40% increase while SS has increased 10%

Could more people do a similar example like this. It really helps to see where are choice might go

 

[REWahoo]

When I started at age 65

100 Part B
15 Part D (bare bones - no serious med needs)
44 MediGap F (high deductible)
--------------
159 monthly

At age 74

149 Part B
7 Part D (bare bones - no serious med needs)
117 MediGap N
--------------
273 monthly

72% increase - note the substantial upgrade in Medigap coverage moving from F HD to N. Had I not changed I would currently be paying approximately $72/mo for F HD

 

[W2R]

Could more people do a similar example like this. It really helps to see where are choice might go

OK, here's what I posted three months ago, on Page 1 of this thread. At age 73:

$148.50 monthly Medicare, Part B. This can be more if your AGI gets too high

$267.48 monthly Federal retiree BCBS Standard supplement which acts as the usual Medicare supplement but also covers Part D. No deductibles or co-pays, other than prescription co-pays. Expensive (so they say) but personally I love it, and I earned it, so hey, BTD, I'm sticking with it. Those that don't like my choice can stand in the corner and make mean faces at me.

$36.00 prescription co-pay so far this year

$63.77 diabetic supplies and OTC meds so far this year. Could probably get most of this free through medicare or insurance but I don't bother. I'd rather just order exactly what I want and need on Amazon.

 

[harllee]

At age 70

Medicare is around $150 per month
AARP UHC Plan G is around $110 per month
Walmart Humira Part D is around $15 per month

I take no prescriptions so I had have no expense for that. I had several doctor appts last year so I had to pay the Medicare deductible of $200. I have no dental insurance and had a cleaning and a root canal last year, cost me about $2500.

 

[ExFlyBoy5]

I had some time so I did a little Googling. I went to the UHC site, put in a St. Paul zip code, and came up with 2 plans.
https://www.aarpmedicareplans.com/h...medicare-information-guide.html#/plan-summary

In case the link does not work, it appears to me that the basic plan ($192/mo) is akin to Plan N, as it does not cover Part B excess charges. The extended basic plan ($239/mo) does, and is more in line with Plan G.

FWIW, in MO, DW pays about$145/mo for Plan G.

I did not know there were states that had totally different plans. I would definitely talk to Boomer benefits.

Your post illustrates why Medicare (and it's many plans) is so confusing to folks. Plan A, sure. Plan B, makes sense. When you start getting into Plan N and others...well, that's just too damn confusing. I didn't know the IRS ran the Medicare system.

I am very thankful that we *should* have Tricare For Life when the time comes...seems to make it much less confusing.

 

[REWahoo]

Your post illustrates why Medicare (and it's many plans) is so confusing to folks. [-]Plan[/-] Part A, sure. [-]Plan[/-] Part B, makes sense. When you start getting into Plan N and others...well, that's just too damn confusing. I didn't know the IRS ran the Medicare system.

Gotta keep your Parts and Plans separate or it really does get confusing!

 

[ExFlyBoy5]

Gotta keep your Parts and Plans separate or it really does get confusing!

Very true. Perhaps me starting the adult beverages early has something to do with that.