Medicare Plans

[pb4uski]

Bumping thread... I'm now on Medicare!!!!

Interestingly, my monthly premiums for Part B, Part D and Medigap (Plan G) will be 24% higher than my monthly ACA catastrophic plan premium.... but the Medicare deductibles are negligible compared to the steep deductible of the ACA coverage. We were on individual health insurance since I retired and had high deductibles but were relatively healthy and luckiy only spent $6,700 for medical costs from 2012-2020.

 

[SoReady]

Bumping thread... I'm now on Medicare!!!!

Interestingly, my monthly premiums for Part B, Part D and Medigap (Plan G) will be 24% higher than my monthly ACA catastrophic plan premium.... but the Medicare deductibles are negligible compared to the steep deductible of the ACA coverage. We were on individual health insurance since I retired and had high deductibles but were relatively healthy and luckiy only spent $6,700 for medical costs from 2012-2020.

Congrats! I'm heading your way, but have to wait until April next year. I'm keeping an eye on these Medicare threads.

 

[pacergal]

Kaiser Medicare, specifically

Bumping thread.
I have read many of the threads on Medicare and been on Boomer Benefits, etc.I understand the differences.
We've been on Kaiser for the past two years, as I wanted to experience it prior to Medicare.
I am a retired RN, so feel confident about evaluating care. So far I am very pleased with Kaiser. I have heard both + and - and we have not had any problems, in fact, quite the opposite.

They offer a direct purchase of 3 plans
$0 premium Value(OOP max $5600), $44 Standard( OOP max $4900), $127 Enhanced(OOP $3000). And you can add $44/mo for Advantage Plus for dental.

We are thinking of the Value plan, since we are relatively healthy at this point in time and have the finances to pay higher OOP costs if needed for hospital, etc.

Anyone here on Kaiser Medicare Value Plan? Good, bad ?

 

[Gotadimple]

Can't speak about Kaiser Medicare as a plan, but the cost for Dental is extremely high. Most Med Advantage plans include basic dental (check the offering), the extra covers extractions, crowns, etc.

- Rita

 

[Dash man]

Bumping thread.

I have read many of the threads on Medicare and been on Boomer Benefits, etc.I understand the differences.

We've been on Kaiser for the past two years, as I wanted to experience it prior to Medicare.

I am a retired RN, so feel confident about evaluating care. So far I am very pleased with Kaiser. I have heard both + and - and we have not had any problems, in fact, quite the opposite.



They offer a direct purchase of 3 plans

$0 premium Value(OOP max $5600), $44 Standard( OOP max $4900), $127 Enhanced(OOP $3000). And you can add $44/mo for Advantage Plus for dental.



We are thinking of the Value plan, since we are relatively healthy at this point in time and have the finances to pay higher OOP costs if needed for hospital, etc.



Anyone here on Kaiser Medicare Value Plan? Good, bad ?

My wife and I bought a dental plan from Delta Dental directly for only $71/mo for both of us. Up to $1,500/yr each with a $50 deductible.

 

[Tiger8693]

Ive seen one post in this thread where someone mentioned there actual premium cost. Would others be willing to share that information? There is a lot of info out there but hard to boil down. Also, what is coverable by HSA? Premiums? Deductibles and OOP costs? Both, neither?

Asking for a friend.

 

[Ian S]

Ive seen one post in this thread where someone mentioned there actual premium cost. Would others be willing to share that information? There is a lot of info out there but hard to boil down. Also, what is coverable by HSA? Premiums? Deductibles and OOP costs? Both, neither?

Asking for a friend.

Monthly cost for a supplement varies all over the place so you really need to look at your own location. Depending on your state, the cost may actually be available online for all the insurers in your state. Here in Arizona my AARP G supplement is about $150 a month and increases a bit each year. Of course you have to pay your Part B as well and a Part D if you want a drug plan. The latter for me this year is about $7/month. Under the G supplement, your only cost is the annual Part B deductible which varies each year and now stands around $200 for the year. There's no co-pay or other OOP for anything covered by Medicare. I can't comment on the HSA.

 

[Tiger8693]

Monthly cost for a supplement varies all over the place so you really need to look at your own location. Depending on your state, the cost may actually be available online for all the insurers in your state. Here in Arizona my AARP G supplement is about $150 a month and increases a bit each year. Of course you have to pay your Part B as well and a Part D if you want a drug plan. The latter for me this year is about $7/month. Under the G supplement, your only cost is the annual Part B deductible which varies each year and now stands around $200 for the year. There's no co-pay or other OOP for anything covered by Medicare. I can't comment on the HSA.

I apologize if seems too obvious, but as I read it you are saying your cost is a total of $357/month in premiums?

I do understand there can be some state to state variation, just getting some ideas. Won't be living in current state when I retire... I also assume this would be per person if both you and your spouse is on same plan?

Thanks very much!

 

[wmc1000]

Ive seen one post in this thread where someone mentioned there actual premium cost. Would others be willing to share that information? There is a lot of info out there but hard to boil down. Also, what is coverable by HSA? Premiums? Deductibles and OOP costs? Both, neither?

Asking for a friend.

FWIW - Indiana residents -

DW and I Plan G runs about $200 per mo. for 2 plans, Total of $400 max OOP for Plan G deductibles combined.

Part D is $20 per month for 2 plans. Our RX are mostly generics so mine are $0 cost and DW is about $6 per mo.

 

[Ian S]

I apologize if seems too obvious, but as I read it you are saying your cost is a total of $357/month in premiums?

I do understand there can be some state to state variation, just getting some ideas. Won't be living in current state when I retire... I also assume this would be per person if both you and your spouse is on same plan?

Thanks very much!

Part B this year is $148.50 per month so my monthly premiums total are about $305 per month. Under my supplement plan G, I pay a deductible of $200 per year.

 

[Happyras]

Thanks to IRMAA, we each pay about $570/mo for part b and d to the gov, then $7 to Aetna for no perscription coverage, and another $1950/yr for a State Farm Plan G. I guess that is about $740/mo each. Not too bad, but then much more than some. Deducutible is 200/yr, so far most is covered.

 

[CRLLS]

Every person on traditional Medicare, who is not subject to IRMAA, pays $148.50 per month to Medicare for Part B coverage. There is a ~200 per year deductible. after that, the individual is responsible for 20% copay. There is no Max OOP for Medicare.

Supplement (AKA Medigap) insurance is voluntary. Many different plans are available. In Illinois the AARP/UHC Plan G premium current cost for us is $114 per person, per month. Plan G pays 100% of the individual's copay. This makes the package of Medicare/Medigap have a $200 deductible and is included in a max OOP of $200 per year "for Medicare covered billings" this is important. If Medicare doesn't cover something, the Supplement insurer will not cover it either. Essentially, you are on the hook for 100% of both "experimental" and voluntary medical procedures/treatments.

Part D, The Medicare drug plan, is also much varied depending n the coverage you decide to choose. It can be from <10 to well over 50 per month per person. I think we are paying ~$13 each for a basic plan. DW's only continuing medication copay is zero cost to her.

 

[MichaelB]

It’s very difficult to compare Medicare Supplement Premiums. They vary greatly due to 1) coverage, plans from A to G, 2) location, and 3) price ratings. Plans can be priced based on community rating, issued age rating, or attained age. In addition, a couple of states have their own rules on coverage options and pricing.

This page gives the basics for comparing policy options https://edit.medicare.gov/supplements-other-insurance/how-to-compare-medigap-policies
and this page gives a very useful tool to find what policies are available by zip code, along with their premiums. https://www.medicare.gov/medigap-supplemental-insurance-plans/#/m?lang=en&year=2021

 

[Tiger8693]

Thanks for the information so far. Doing some searches on HSA and Medicare costs indicate ability to use HSA for OOP and Deductibles, and even Premiums for Original Medicare or MA, but not for Medigap premiums. Also, of course can't continue to contribute to HSA, but figured that with the HD plan requirement.

Seems another "spreadsheet" will be in my future once I know final HSA balance to determine between MA or Original with MG plan...

 

[Gotadimple]

Also, what is coverable by HSA? Premiums? Deductibles and OOP costs? Both, neither?

Asking for a friend.

Your HSA will cover premiums for Medicare Part B plus supplement or MedAdvantage. Both deductibles and out of pocket are covered. You can pay with your HSA debit card, or accrue expenses and claim cash periodically.

HTH,
- Rita

 

[aza455]

Your HSA will cover premiums for Medicare Part B plus supplement or MedAdvantage. Both deductibles and out of pocket are covered. You can pay with your HSA debit card, or accrue expenses and claim cash periodically.

HTH,
- Rita

Actually, premiums for a Medicare supplemental policy, such as Medigap, are not eligible expenses for HSA.

https://www.connectyourcare.com/blog/hsa-medicare-using-hsa-to-pay-for-medicare-premiums-and-more/

 

[harllee]

Live in NC, age 69, have traditional Medicare (148.50 per month), UHC/AARP G Supplement ($106.00 per month), Walmart Humana Part D ($17 per month) total around $280 per month, a bargain in my opinion. I get reimbursed from my HSA for the Medicare 148.50 but the Supplement cannot be paid from the HSA under the HSA rules.

 

[audreyh1]

Your HSA will cover premiums for Medicare Part B plus supplement or MedAdvantage. Both deductibles and out of pocket are covered. You can pay with your HSA debit card, or accrue expenses and claim cash periodically.

HTH,
- Rita

HSA covers Part B and Part D Medicare premiums as well as Medicare Advantage plans. It does not cover the Medigap supplement.

 

[SoReady]

Just started Medicare this month. Turn 65 in a week. Live in Cook county of Illinois.



(Just using whole dollors)

Medicare - $148

AARP/UNH Plan G - $132

Aetna Silverscript - 7



All in $287/mo

 

[Dash man]

I sign up for Medicare A & B next month and start in August. This year’s premiums for part B will be the minimum, but next year we’ll be hit hard with IRMAA at the 3.2 $475.20/each rate plus whatever inflation increase they have. But that will still be cheaper after the Medigap and Part D are added than our current $1,804 monthly premium for both of us. After next year we expect to be at the 2.0 IRMAA rate for a few years, and hopefully less later.
I understand Megacorp will contribute about $900 annually if we go through ViaBenefits to sign up.

 

[Tiger8693]

Lots of good information here. Thanks!

 

[Calico]

I live in NC, age 65.

Traditional Medicare $148.50
AARP/UHC - Plan G Supplement $105.37
WellCare Value Script - Part D $17.20

Total: $271.07 per month

As a cancer survivor I never considered Medicare Advantage plans. I am healthy now (knock wood) but I know how fast things can change, and I want as many options and as much control as I can get over my health care, and I'm willing to pay a little more for the peace of mind this coverage brings.

 

[Tiger8693]

I live in NC, age 65.

Traditional Medicare $148.50
AARP/UHC - Plan G Supplement $105.37
WellCare Value Script - Part D $17.20

Total: $271.07 per month

As a cancer survivor I never considered Medicare Advantage plans. I am healthy now (knock wood) but I know how fast things can change, and I want as many options and as much control as I can get over my health care, and I'm willing to pay a little more for the peace of mind this coverage brings.

This is interesting based on some recent medical issues I have had. Other than the $3,250 of preiimum costs, what is the deductible/max OOP costs for your plan?

Thanks!

 

[Calico]

This is interesting based on some recent medical issues I have had. Other than the $3,250 of premium costs, what is the deductible/max OOP costs for your plan?

Thanks!

The deductible for Medicare Part B is $203.00/year. Medicare does not have an OOP limit as far as I know, but with the supplemental coverage I only anticipate paying the $203.00 per year.

The deductible for my Part D plan is $445.00/year. It doesn't apply to the first couple of tiers of drugs at my pharmacy on this plan, however. I only pay $7/month for my one Rx. The Part D plan does not have an OOP limit either.

I recommend speaking with Boomer Benefits (or another similar outfit) about your specific needs; I did a lot of research first but then I ran my thoughts past them as a "sounding board" to make sure I hadn't missed anything.

Note: some folks go for the cheapest Part D drug plan they can find, because they "are in perfect health now, and don't take any prescriptions." I didn't go for the cheapest plan because I know from experience how fast "perfect health" can become anything but perfect, and my coverage allows me to sleep well at night.

As with any other insurance, I actually hope I am "throwing money away" on the supplemental plan and the drug plan, because that would mean I never needed the coverage.

Good luck navigating the ins-and-outs of Medicare!

 

[Ian S]

Note: some folks go for the cheapest Part D drug plan they can find, because they "are in perfect health now, and don't take any prescriptions." I didn't go for the cheapest plan because I know from experience how fast "perfect health" can become anything but perfect, and my coverage allows me to sleep well at night.

I'm one of the cheapskates who chose the lowest cost plan but it does cover at no cost the three prescriptions I take daily. The problem with choosing a more expensive plan to cover some future drug you might need is how do you know what that drug might be? As I understand things, these plans all cover different drugs at different rates so without knowing what drug you might need, it's pretty much impossible to select the best plan. Also, you can change your Part D plan annually so I'm willing to take the risk that I might have to go for some part of the year paying through the nose for a drug not covered by my $7/mo plan. I would also look into getting the drug in Canada as I have family there and visit when I can. Lots of ways to mitigate the risk I think.