Monthly charge for medicare

[Texas Proud]

Texas Proud,

I know it was mentioned in passing in a post up-thread, but I want to further emphasize this point. By law, all Medicare Supplemental Plan "Xs" offer identical coverage.

(Some may think paying more for a given Plan "X" may get yield better benefits, coverage, etc. That is not the case.)

omni

As mentioned I can see where some offer extra coverage for a bit more in premiums... maybe the gym is free on some...


What I am more concerned about is the rate rising at a faster pace as I get older... so issue pricing or community pricing appears to be a better hedge on rising rates...

 

[jpeter1093]

When you all say "Medigap", are you specifically excluding Plan C (Advantage) plans? Aren't they consider Medigap, as well?

 

[Dash man]

When you all say "Medigap", are you specifically excluding Plan C (Advantage) plans? Aren't they consider Medigap, as well?

No, MediGap and Medicare Supplement are interchangeable.
Medicare Advantage is Medicare Part C, where Medicare pays an insurance company to manage your healthcare. It will usually have limited networks and sometimes requires referrals, copays, higher out of pocket maximum and requires approval for many procedures.

 

[REWahoo]

When you all say "Medigap", are you specifically excluding Plan C (Advantage) plans? Aren't they consider Medigap, as well?

What Dash Man said. Medigap plans are supplements to Medicare. Advantage plans aren't supplements, they are Medicare replacement plans.

 

[jpeter1093]

No, MediGap and Medicare Supplement are interchangeable.
Medicare Advantage is Medicare Part C, where Medicare pays an insurance company to manage your healthcare. It will usually have limited networks and sometimes requires referrals, copays, higher out of pocket maximum and requires approval for many procedures.

Thanks! I thought the same thing but the OP's post confused me: "I have been thinking that I might go the medigap way as that would allow me to go to any docs that I want and not have to deal with an insurance company...."

There is ONLY the Medigap way

 

[jpeter1093]

What Dash Man said. Medigap plans are supplements to Medicare. Advantage plans aren't supplements, they are Medicare replacement plans.

Oh, so they replace parts A and B? So if you get plan C, you DO NOT pay $170.10 monthly?

 

[Dash man]

Thanks! I thought the same thing but the OP's post confused me: "I have been thinking that I might go the medigap way as that would allow me to go to any docs that I want and not have to deal with an insurance company...."



There is ONLY the Medigap way

Don’t get confused between Medicare Parts and Plans.
Medicare Part A is hospitalization.
Medicare Part B is outpatient healthcare such as doctor visits, lab work and such.
Medicare Part C is Medicare Advantage where Medicare pays the insurance company to manage your healthcare.
Medicare Part D are prescription plans. Some Part C plans include a prescription plan.

Medicare Plans G and N (and others) are supplements to your original Medicare Parts A and B. You also need a Part D prescription plan.

 

[Dash man]

Oh, so they replace parts A and B? So if you get plan C, you DO NOT pay $170.10 monthly?

Dreamer!
Typically you’ll still pay your Part B premium, and any IRMAA.

Some Medicare Advantage plans offer returning your Part B premium to you.
But you get what you pay for. Medicare Advantage plans are great when you’re healthy. But get the plan you want when you’re sick. You have to pass underwriting to change after your initial enrollment period unless your state allows you to change anytime. Most don’t.

I’d suggest Plan N or G.

 

[teej1985]

Plan N will nickel and dime you, you'd have to math it out if the savings are worth it.

I feel like G- High Deductible is a solid choice too, but again, have to math it out.

 

[Dash man]

Plan N will nickel and dime you, you'd have to math it out if the savings are worth it.

I feel like G- High Deductible is a solid choice too, but again, have to math it out.

You’re mistaken about Plan N. Just a copay if it’s a basic office visit. Plus the Part B deductible Plan G has to pay too. Overall cheaper than Plan G. I’d never go high deductible, but I use too much healthcare.

 

[CRLLS]

No, MediGap and Medicare Supplement are interchangeable.
Medicare Advantage is Medicare Part C, where Medicare pays an insurance company to manage your healthcare. It will usually have limited networks and sometimes requires referrals, copays, higher out of pocket maximum and requires approval for many procedures.

Emphasis above is mine. To add to your statement, even some Medigap plans (a.k.a. Supplement) have restrictions of a limited network. I believe they are identified as "select" plans. Although I have never seen a company offer a select plan without also offering the standard medigap policy. They may exist. I don't know.

 

[teej1985]

You’re mistaken about Plan N. Just a copay if it’s a basic office visit. Plus the Part B deductible Plan G has to pay too. Overall cheaper than Plan G. I’d never go high deductible, but I use too much healthcare.

I'm not mistaken, the differences between G and N are more than just a copay. It's missing other coverage that G offers. The savings too me doesn't seem like it would be worth it but probably depends on one's state.

 

[Katsmeow]

What Dash Man said. Medigap plans are supplements to Medicare. Advantage plans aren't supplements, they are Medicare replacement plans.

Wow! That seems good. DH and I have UHC/AARP. He has Plan F (Plan G was not offered from them when he turned 65. He is 74 now). I am 67 and have Plan G. We pay $400.88 a month for us collectively. DH loses 3% of discount on his birthday each year so he has lost most of that discount.

 

[jollystomper]

This is good information for me. DW turns 65 later this year but she can stay on my Megacorp plan until I turn 65 next year, so we have some time to evaluate. We likely will start on Medicare + a Medigap Plan + drug supplement as we like having a wider network of providers than what I have found with Medigap plans in my area so far (I have not finished my research). Right now we are paying about $950/month for the two of us. for Megacorp retiree insurance (which includes dental which I know we will have to do something about once we go off of it), I'm just hoping the roughly equivalent Medicare + Medigap plans we need are cheaper.

 

[Chuckanut]

Medigap plans will vary in price with location. Some places are just cheaper than others when it comes to the cost of living and that even includes medical care.

I pay about $125 a year for my Medigap Plan F. New folks get plan G which is the same price, IIRC.

 

[jw72]

ehealthinsurance.com will give a good quote, no-one selling your phone number or email to insurance agents, if fact I do not think it required for a quote. Just zip code and birthday

 

[meleana]

Like some other threads I see, I am turning 65 this year...


I have been thinking that I might go the medigap way as that would allow me to go to any docs that I want and not have to deal with an insurance company....


But, I cannot find any place that says how much it costs per month. Anybody care to share what they pay for medigap... what about your drug plan?

In NH my plan G is $132.00 per month and hubby’s is $152.00 ( I’m 65 and he’s 67). We are both with Anthem BC/BS.

 

[Bigbass]

This is good information for me. DW turns 65 later this year but she can stay on my Megacorp plan until I turn 65 next year, so we have some time to evaluate. We likely will start on Medicare + a Medigap Plan + drug supplement as we like having a wider network of providers than what I have found with Medigap plans in my area so far (I have not finished my research). Right now we are paying about $950/month for the two of us. for Megacorp retiree insurance (which includes dental which I know we will have to do something about once we go off of it), I'm just hoping the roughly equivalent Medicare + Medigap plans we need are cheaper.

I'm not sure retiree insurance is consider creditable coverage. You might want to check to be sure your DW will not be subject to penalty if she does not sign up when she turns 65 with your retiree coverage. I could be mistaken, but I thought I read that the coverage must be from current or active employment.

 

[jollystomper]

I'm not sure retiree insurance is consider creditable coverage. You might want to check to be sure your DW will not be subject to penalty if she does not sign up when she turns 65 with your retiree coverage. I could be mistaken, but I thought I read that the coverage must be from current or active employment.

Thanks. I had spoken to Megacorp at the beginning of the year about this. She will still sign up for Medicare Part A and Part B at the very end of this year as it is within her initial Medicare enrollment period. Once she signs up we will have have 6 months to sign up for a Medigap plan. Well before that we will have a better idea of the prices and options. Of course if our Medigap choices are much cheaper she will sign up for them and I will drop her off the retiree plan earlier. We just have more flexibility that I thought going into this year.

 

[HGTVFanatic]

I’m shocked at the costs you guys are paying. We are both paying for regular Medicare plus $475 a month for insurance through his union.

 

[CRLLS]

I’m shocked at the costs you guys are paying. We are both paying for regular Medicare plus $475 a month for insurance through his union.

What does his union insurance compose of? Medicare Supplement? if so, then what Plan letter? Vision? Dental? Coverage for two? Of what age? Maybe it is not so far out of line depending on the above.

 

[Helen]

I will turn 65 in May and my spouse will turn 65 in November. I am a Federal retiree and we are on Federal BCBS. I am thinking of signing up for Part A and skipping Part B. We are likely to be in the second tier of the IRMAA penalty.

I've been on Basic BCBS for 20+ years and have had an endovascular coiling for a brain aneurysm, went through a ton of specialists for Meniere's, had numerous colonoscopies, had my appendix removed and had eye surgery to remove some precancerous thing. Through all of this I paid very little out of pocket and only one doctor didn't accept BCBS.

I noticed there is pending reform for the Post Office that would require retirees to pick up both Plan B and Plan D to use along with their existing health plans, but they will waive the penalty for retirees for those who opted out of Plan B. So, if it carries over to other Federal retirees I think it's safe to assume they will also waive the penalty for us as well.

 

[HGTVFanatic]

What does his union insurance compose of? Medicare Supplement? if so, then what Plan letter? Vision? Dental? Coverage for two? Of what age? Maybe it is not so far out of line depending on the above.

It’s a continuation of the insurance he had when he was employed. Medicare is primary and union insurance is secondary. It covers vision (partially), dental and prescriptions. It covers both of us. We are in our late 60s. We also live in a high cost area but not sure if that factors in.

 

[Buckeye]

DH's AARP/UHC Plan N supplement is increasing on June 1 from $163 (stayed that price for 2 years) to $171.

His hip replacement surgery in Nov 2021 cost us about $275 out-of-pocket which included his 2021 Part B deductible of $203. Trading off paying the Part B deductible and up to a $20 office visit co-pay (requirements of Plan N) is a good value versus the higher Plan G premium here in Central Florida.

 

[CardsFan]

I’m shocked at the costs you guys are paying. We are both paying for regular Medicare plus $475 a month for insurance through his union.

I have a buddie who was a union painter. The HI benefit was a good deal before Medicare age, but when he went on Medicare, he also switched to a Medigap policy. It was significantly cheaper.