euro
Thinks s/he gets paid by the post
- Joined
- Oct 4, 2015
- Messages
- 2,341
Motivated by the recent Medicare related thread https://www.early-retirement.org/forums/f38/broker-for-medicare-115962.html , I started researching the topic in quite some detail. I still have 18 months to eligibility, so plenty of time to sort things out.
I have come to two specific questions that I have, so far, been unable to track down. Both are related to Supplement Plan G (which will likely be my preferred choice). For my specific area, it looks like there are 5 different plans available. The premiums range from $90 to $220 per month. My understanding is that all 5 plans offer the same benefits (pretty much by definition), so the choice comes down to cost of premium, expected premium stability, and, perhaps projected customer service. These in turn will be influenced by whether pricing is based on “community”, “age at signup”, or “attained (current) age”
Question 1: I have found it difficult to figure out whether all 5 of my options are based on the same pricing model. I.e. all based on, say “attained age”, or if they all differ. I know that some states mandate certain models and in NC “attained age” is one that is used frequently, but I’m not sure if it is the only one available (and that is why the individual plans don’t bother providing that information.
Question 2: 4 of the 5 plans are somewhere around $100 a month, whereas the 5 (happens to be Humira) is at $220. What causes that and would there EVER be a reason to consider that plan or is it a red flag that indicated the pool is shrinking and premiums will go nuts?
Edit: I just noticed that autocorrect changed my intended thread title…….. should be “Specific Medicare Questions”, not “Medical”……. Sorry, perhaps a Moderator will be able to fix it?
I have come to two specific questions that I have, so far, been unable to track down. Both are related to Supplement Plan G (which will likely be my preferred choice). For my specific area, it looks like there are 5 different plans available. The premiums range from $90 to $220 per month. My understanding is that all 5 plans offer the same benefits (pretty much by definition), so the choice comes down to cost of premium, expected premium stability, and, perhaps projected customer service. These in turn will be influenced by whether pricing is based on “community”, “age at signup”, or “attained (current) age”
Question 1: I have found it difficult to figure out whether all 5 of my options are based on the same pricing model. I.e. all based on, say “attained age”, or if they all differ. I know that some states mandate certain models and in NC “attained age” is one that is used frequently, but I’m not sure if it is the only one available (and that is why the individual plans don’t bother providing that information.
Question 2: 4 of the 5 plans are somewhere around $100 a month, whereas the 5 (happens to be Humira) is at $220. What causes that and would there EVER be a reason to consider that plan or is it a red flag that indicated the pool is shrinking and premiums will go nuts?
Edit: I just noticed that autocorrect changed my intended thread title…….. should be “Specific Medicare Questions”, not “Medical”……. Sorry, perhaps a Moderator will be able to fix it?
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