What a racket. Don't forget that along with SS tax your entire life, you were also taxed for Medicare. Then when you finally qualify for it, you have to pay for it plus get private supplement policies.
THANK YOU for revising your Medicare advice! If the disADVANTAGE plans were so great for YOU they wouldn't be promoted so heavily. Also, agents get bigger incentives to write them. Happy G customer..live in Sr Apt & constantly hear these D plan customers think its the Bomb. Just smh & walk away. They believe the BS.
@@kevinharlan46 The politicians spend it as part of the general budget. There's too much money sitting there for them to keep their greedy hands off of it.
Recently I had a major problem, the ambulance was 13,000, I had to pay 250 under my advantage plan. The hospital billed 550,000😮. The plan payed 52,000 and my part was 2600, about what a gap plan would cost for a year. My medicine copay is usually paid by February. Most importantly there is no monthly payment. A major deal is going to cost you a boatload of money under any circumstance
you are so right about getting a supplement instead of an Advantage plan. My dad was diagnosed with esophageal cancer and his GI doctor highly suggested he go to MD Anderson in Houston for treatment. Because they have a supplement, they have had very little out of pocket expenses...the most $40 for a medication every three months. He had to be emergently flown to MD Anderson from his hometown (900 miles away) and there was no out of pocket expense because the supplement picked up the balance. Had they had one of the advantage plans, he may not have been able to be treated at MDA because the providers have to be in network. I'm glad you are getting this information out in easy-to-understand language so we can make informed decisions.
If you make 1700 social security get an advantage plan with a low max out of pocket. The supplement plans are for wealthy folks. The you tube supplement salesmen don't tell you that.
Good grief - the fact that your health insurance is attached to your jobs is ridiculous. When will the US catch up with the rest of the developed world 🤦♀️
You should check what is the best for the state you live in and what is best for your health situation. I am fortunate and have great health.. I live in Texas and had a supplement plan when I turned 65 after a few months I switched to a advantage plan. The premiums I paid for the supplement plan was more then the out of pocket expenses for a advantage plan. I am 72 now and the money I saved from the extra cost of a supplement plan has given me a nice little nest egg.
I am on the AARP Advantage Plan and recently suffered a slip & fall in my home, breaking my patella. I was denied rehab facility after my surgery because the hospital case worker had PT come and encourage me to walk while I had a nerve block in my leg. Insurance decided I walked to far to qualify. I was informed by a friend that United Healthcare denies this type of coverage 90% of the time. What a sham. We are switching to medigap in the fall.
I have Tricare military insurance right now..when I'm 62 n retire..I will get Medicare supplement as my first insurance and Tricare will become my secondary...what Medicare doesn't pay, Tricare will...Im very lucky to have Tricare as I only pay a small copay for meds and most my drs are covered !!
I know I'll be the lone-wolf here regarding Advantage plans, but here's what I know. Both of my parents have been on Humana Advantage for over 20 years. I can say nothing negative, for us. And, we've have had our share of medical calamities. Mom had a subdural hematoma with open craniotomy brain surgery, including ICU, coma, nursing home rehab, in-home rehab, etc. Huge scary hospital bill, over 150K, I believe total out of pocket was around $2,000. Mom came through miraculously and is now 92 in great health. We never had issues with approvals, facilities, denials, etc. Dad had stroke and died after two weeks in hospital. Very small out of pocket expense. Currently, mom pays no monthly premium for her Humana due to the high participation in our area, plus, she rarely pays anything for her medications. Although, she is weird, since she only takes two pills per day for BP. Mom was recently hospitalized with flu/pneumonia for about 3-weeks which included rehab hospital and in home physical therapy. Again, total out of pocket was less than $2,000. Our choices of hospitals and doctors are great and we've never had issues for over 20 years. I found Humana customer service to be exceptional and caring and we've never had any problems. I understand the issues other may have with their regional providers and individual health conditions.
@texustop, Medigap plans are standardized, and they have to pay for Medicare-approved services, no questions asked. So, it becomes a question of which "letter" plan is best for you, and then you can shop price. Advantage plans have to cover at least the same services as original Medicare, but beyond that, can vary considerably. Some are better than others. For, example, usually better choice of in-network providers if you are getting care in a large-population metro, than a smaller one. Then, PPOs usually have more robust networks than HMOs, on top of that. So, with more to consider, you have to shop carefully. I suspect the Advantage plan horror stories that are being relayed to us, are based on anecdotal accounts that may not represent the aggregate experience. Human tendency is to speak out about a bad experience, whereas they are less likely to do so if things work as they should.
Tim is right about the cost. I could not afford the "G" plan plus the "" D" monthly plan. I had no other choice but to take the cheaper Medicare advantage option which including drugs. My social security monthly check (minus the 160.00 for Part B) barely covers my living expenses/food. I did go for the PPO plan so i could keep seeing my Primary Care Doctor. The PPO plan cost me $23.00 monthly, you do what you can, and pray to God for his protection. Most hospitals do not want to treat you if you are my age (70) or older - whether you have "G"' or Medicare Advantage. I saw first hand when my Mother was over 65 and the medical professional treatment of the elderly has gotten worse since she passed.
Hi Tim, Thanks for the video! My wife is turning 65 this year, so we have been researching. Our initial thoughts were to go with a G-HD plan, as we thought the MA plans were all HMO. We learned that there are PPO MA plans (actually MAPD plans, meaning Medicare Advantage plans that include Prescription Drug coverage) and some, like Humana, for example, is what we were considering, has a nationwide PPO network. So, IOW, if we were travelling to another state, we could go to an in-network doctor or facility in another state with no problem. Although there are co-pays with these MAPD plans, to my recollection, there was no deductible, and there was an OOP (out of pocket) limit around $4700. So this, with no additional premium, plus some dental, vision, hearing, gym, and OTC benefits - was pretty enticing. However, we heard that Clark Howard calls them (dis)advantage plans, because of, as you mentioned, the need for approval. Now, one would hope that, like the ACA plan you and I are currently on, respected insurance companies like Florida Blue would approve appropriately. I have heard, however, that with some, like United Healthcare, it has been harder to get approvals. We also realized, as you mentioned, that after the first year, if you develop health issues, it may be difficult or impossible to switch to a supp plan. However, you can switch from a supp plan to an MA plan any year, with no underwriting. So, as much as the Humana PPO MAPD plan sounded very nice and inexpensive, we decided to go back with our original inclination, and went with a G-HD supp and the cheapest Part D plan in FL. I should note too that we don't even intend to use the Part D plan that we are purchasing. One of my wife's drugs is not covered by an Part D plan, so we're planning to use GoodRX. However, as you probably know, if you delay signing up for a Part D plan, you will be penalized (for life) if/when you ever do sign up, and the longer you wait, the more you will be penalized. You mentioned repricing supp plans each year. One note is that if you develop health issues, you may not be able to change supp plans (due to underwriting), but I believe that you can stay with your current supp plan for life. Perhaps you will discuss the G-HD plan in another video. It is basically the same as a G supp, except that you have an annual deductible of $2700 (for 2023, but this will increase annually). This can be a good option if you have enough savings to cover your deductible for several year. To compare: In our area of FL, plan G-HD is approx. $50/month, while plan G is approx. $170/month. So although, we have a $2700 annual deductible, we will be saving $1440/year on premiums. So if folks are generally healthy (and thus only occasionally have a year when they have to pay the full deductible), they can save enough on the healthy years to cover their deductible on an occasional heavy expense (met the deductible) year. One other note on comparing supps. Even though multiple insurance companies provide the same coverage for plan G (as defined by Medicare), prices can vary, so generally that would lead to purchasing the cheapest. However, another factor is the rate at which that company has increased their plan G premium in recent years (and thus may continue to increase at that rate). This is info that I believe good agents can access. When folks near Medicare age, they will be inundated with mailings from agents wanting to represent them. Similar to you, I looked for an agent on RU-vid. In particular, I found one who had made videos explaining the advantages of plan G-HD, so we went with him. Thanks again for your videos. I used to live in BB myself years ago. Have a great day, John :)
@@JohnSullivan-zj6eu that’s because you are relatively healthy and have tier 1 meds. Once you need something more than meds or a regular checkup, that’s when you’ll see bills come
Hi Tim...great job....I got my medicare a year ago and took the G plan. My deductable this year was $226. I live in Lee County FL and my premium for it bumped up a little bit now to $197 monthly. If you can afford the premuim it is the way to go knocking out all the network issues...co pays and higher deductables...let alone underwriting issues💪💪 I have my drug plan through United Healthcare/AARP at $29 monthly. For those coming into medicare you can sign up 3 months before 65 so it kicks in on your 65 birthday...or your birthday month and up to 3 months after your birthday. After that there are penalties. You crushed it!!....and may all going on medicare crush it!!
If you can afford it the G plan is the way to go. So far this year I have had almost $84,000 in medical bills. I have traditional Medicare parts A and B plus a G plan. After my premiums (164.90 for Medicare Part B and $212 for the G plan), all I have had to pay out of my $84K in medical bills this year has been my $226 deductible. So far this year my G plan has paid out about $13,000. I didn't have to get any approvals for the two surgeries I have had this year and there are zero copays. Yeah it is expensive ($388/mo when you include my Part D drug plan - $11.10/mo for the Wellcare plan), but I think the peace of mind is worth it. Good presentation. There are a few things to consider when choosing a supplement. First, there are three ways that supplement plan premiums are determined. They are age based premiums, age at issue based premiums and community based premiums. Before I explain the three premium models, I want to clarify that supplement premiums do change every year due to inflation. Age based premiums are determined by your age and you can expect the premium to increase every year as you get older simply because you are older. This increase is in addition to inflation based increases. Age at issue plans base your premium on how old you are when you first get the policy. After that the premium doesn't change except for inflation based increases. This type of pricing is only really an issue if you have a plan through your employer that you keep and delay starting Medicare. So an age at issue policy will cost more if you start it at 70 than if you start it at 65. The final premium pricing plan is called community pricing. If a policy has community pricing everyone in the plan pays the same no matter how old they are. Often age based plans will be cheapest at age 65, but the age based increases can make those plans very expensive as you get older. Age at issue and community plans will not have premium increases simply due to your age, but they may be more expensive when you are 65. Second, in every zip code there are a bunch of different companies offering plans. As Tim said, all the plans are the same in terms of coverage. The pricing is all over the place though and a $300/mo plan is NOT better coverage than the same plan that costs $200/mo. However, each company has a track record of how they increase prices. Some have much larger increases than others, so a plan that is cheaper now may be more expensive in five years if that company tends to have larger inflation based increases. A good agent should be able to help you with this. The other factor is how many people are in the plan in your area. Supplement plan pricing is state regulated, but how much a plan charges is tied to how many people are in the plan in your rating area. The more people there are in the plan, the more stable the pricing will be because the insurance company can spread the risk farther. A plan that is just breaking into a market may start out with a low premium to get customers, but then have big price increases a they develop a claim history. So it pays to find out which plan covers the most people. Again a good agent will have this information. Third, although you can in theory change plans during their open enrollment period (which is not the same as the open enrollment period for advantage plans and drug plans), the companies are NOT required to accept you after the initial enrollment period (6 months centered around your 65th birthday). The companies can ask you health questions and use your answers to those questions to set your premium or decide not to accept you. There are some state that require supplement plans to accept you, but they can ask you health questions and use those questions to set your rate even though they have to accept you. So in most states changing plans can range from easy to expensive to impossible. Note that if you do change plans they can have pre-existing condition exclusions for 6 months or so after the change. A couple of points about Part D drug plans. Unless you hae creditable coverage from an employer group plan, if you don't go with a drug plan from age 65 there is a penalty of 1% of the average national monthly premium for every month you delay starting the Part D plan. So if you wait 5 years to start that Part D plan, that is 60 months and your penalty will be 60% of the national average premium. That penalty is added to whatever your Part D premium is and lasts for the rest of your life. The current ntional average premium is $32.64/mo so my 60% penalty would be an extra $19.58/mo. Part D drug plans are currently undergoing some BIG changes. Those plans have deductibles and copays (not that for almost all plans the deductible does not apply to generic drugs) and there is currently no limit to how much the copays can add up to. For example people taking expensive cancer pills can have copays that are more than $10K per year. However, in 2024, there will be a limit to copays and in 2025 that limit drops to $2,000. One last thing about drug plans under Medicare Advantage plans. They are the same as stand alone drug plans and the drug plan copays do NOT count toward your Medicare Advantage plans maximum out of pocket. Those drug copays are currently unlimited. Tim, my wife has narrow angle glaucoma and she uses Timolol eye drops and her Wellcare plan covers those drops at 100% from day 1. Her eye doctor initially wanted her to use very expensive drops, but she asked if there was a generic she could use instead. That is how she ended up with the timolol drops. Fortunately they work for her. The Wellcare premium is $11.10/mo. Finally, the Medicare.gov web site has a huge amount of information on it and it a great resource. It can be a bit tricky to navigate though.
@@kathrynj.hernandez8425 People who can't afford a supplement generally should go into a Medicare Advantage plan, but it is a good idea to try to have a year or two of the maximum out of pocket in savings just in case you have a bad patch. There are other cheaper plans. N is popular and generally quite a bit cheaper than G.
I have the F plan through BCBS which is no longer available but is the best of the best, no deductible. I have chronic health issues so I don’t want to play around by changing. Three years ago I was hospitalized heart surgery and repaired an aneurysm. Total cost over one million dollars and I didn’t have to pay a dime. I never have to pay anything for doctor visits, labs, or therapies
High Deductible G so far has been working for me. My premium is only $46 per month (living in Florida). Medicare still pays 80% of everything and my yearly cap is $2,700. If you go with United you can switch to a regular G or N plan in two years with no underwriting and they will still give you the age 65 rate.
I decided to go with high deductible G also. I did a lot of research on the subject and high deductible G is a viable option. Avoid the advantage plans if it all possible!
Absolutely! I too am an RN who works with managed care and utilization review (insurance reviews). MCR Advantage plans are difficult to work with (as are most other commercial Insurance plans now days) that MICRO-Manage your ability to use your benefits. The customer service with these plans is extremely difficult to access and the benefits are difficult to navigate or understand. I spend hours every week on the phone (or worse, the website portals) trying to request and submit hospital prior and continuing-stay authorization requests. I don't know how the average consumer manages to get any help at all with these companies.
Hi Tim. Love your channel ❤ You had me at " 62 collect your SS" One thing also to look at if you are going with plan G or plan N etc. The pricing for the policies. There are 3 ways companies set the premiums. # 1 Issue Age Pricing # 2 Community Pricing # 3 Attained Age Related Go with #1 Pricing if you are 65 Doesn't go up as you get older but just inflation. Community Pricing is everyone gets the same price but premium increases based on how much they are paying out plus inflation #3 goes up based on your age and inflation
There is a free advocacy group out there to assist people free of charge in picking a plan that will work for their needs. Also there to assist in billing issues. They are called Hi-CAP. “Health Insurance Counseling and Advocacy Program.
You need to check into the N plan with more detail. I've seen videos that talk about the premium for the G plan will go up at a faster rate due to plan G has to accept pre-existing conditions while you have to go through the underwriters to get into the N plan and with the G plan having more patients and probably sicker patients they raise premiums faster than the N plan. That info should make it easier to decide which plan to get. If you are healthy and can get through the underwriting get the N plan but If you have pre-existing conditions that will make you have more doctors visits and need more medical care then go to the G plan. Just passing this along from what I've heard. Great videos Tim . Keep up the good work.
The one thing we can never know is what might happen with our health moving forward...this is why...if you can afford the g plan premiums stick with it...to knock out all the possibilities of medical $$$ surprises along the way....if that medical surprise comes along.
All supplement plans have accept everyone during the initial enrollment period (6-7 months centered around your 65th bitrthday). In other words no plan can consider pre-existing conditions when you first sign up. The pre-existing condition screening only come in if you try to sign up for a plan later or you try to change plans. For example if you initially went with a Medicare Advantage plan then two years later decided to go back to original Medicare and buy a supplement. In that case the supplement company will use medical underwriting to decide if they will sell you a plan and if they will sell you a plan how much to charge you.
If you already have health insurance and are retiring, there are no pre-existing underwriting requirements for any Supplemental Plan, they have to accept you (you will have to show proof of your current health insurance coverage). If you've already retired and took Advantage, longer than a very specific amount of time (you'd want to look it up for the exact amount of the time allowed), and you want to change to a Supplemental Plan, then you'd have to be approved by underwriting, for pre-existing conditions, in order to change to any Supplemental Plan. If you have no health insurance at all, you would have to go through underwriting for any Supplemental Plan. It is not broken down by each Supplemental Plan letter. The G Plan rate is going up faster, because it has a higher number of enrollees, and has the best coverage.
@@kibblenbits You only have to go through underwriting for a supplement plan if you were uninsured and didn't buy the supplement at age 65. If you are uninsured and buy a supplement during your initial enrollment period there is no underwriting. The initial enrollment period is the 7 months centered on the month you turn 65. During that period it doesn't matter what insurance you had or didn't have.
Love your videos! Florida is one of the best medicare advantage states for benefits. Plans are available with no monthly fee from SS, no annual deductible, tier 1&2 drugs with no copay, and no copay from your primary doctor. It is a HMO. Care plus and Devoted are two of the biggest. We have been with them 8 yrs. and love the coverage. Save big money!
Two Choices: 1) Medicare that pays 80% doctor/hospital & buy a Supplement that pays the other 20% OR 2) Advantage Plan that mostly covers 100% of doctor/hospital BUT u must use their doctors & hospitals & they may NOT approve all operations etc. STAY WITH MEDICARE & BUY A SUPPLEMENTAL SO U AREN’T STUCK WITH ADVANTAGE PLAN DOCTORS & HOSPITALS IMO!
So very true, I am a former nurse and I can tell you the Advantage plans drop benefits like dental and gym membership at any time and your doctor can also drop out once you are established. Furthermore, if you are out of your covered area and get sick with an Advantage plan then they will require pre-authorization for procedures and you do not want to wait on the that it takes time and if not done well, it will cost YOU out of pocket.
I feel it depends on your medical needs....if you're healthy but need eyeglasses (like I do), or dental, and have your gym membership covered and Advantage Plan is good choice. If on other hand if you have more serious medical issues and in and out of the hospital frequently, then Medicare Supplement Plan is good. For me I'm on SSDI and when Advantage Plans came around I was so happy to finally have my glasses covered and not go too many years without new prescription because I couldn't afford new glasses, and to be able to go to the dentist again.
I would take out a Reverse Mortgage on my home to be able to afford a Medicare Medigap/Supplement premium to avoid a Disadvantage / Part C plan. Thankfully that is not my financial situation. I bought Plan N supplement for less than $100 per month premium in NC. AARP United Healthcare.
Tim the premiums on the G plan go up way faster than on the N plan. There is very little difference and because so many people went from F to G--they are way more expensive than the N Plan. WHY:? Well, with Plan N, the patient has more skin in the game and may pay up to $20.00 co-pay at the doctor's office and $50.00 at the Emergency Room ONLY if you are not admitted. If you are admitted to the hospital then no copay will be assessed. Once the $226.00 deductible is met you pay nothing more--except the monthly premium.
Sorry, but there are 3 choices, not ,2. You can keep STRAIGHT MEDICARE AND CAN TREAT ALL OVER THE US WHEREVER YOU TRAVEL AND MERELY PAY THE 20%. 20% IS OFTENTIMES CHEAPER THAN ANY CO-PAY BECAUSE IT IS 20% OF THE DISCOUNTED GOVERNMENT MEDICARE PAYMENT, NOT THE ARTIFICIAL CASH PAY AMOUNT BILLED. Frequently, this amount is less than any CO-PAY. AND NO MONTHLY PREMIUMS FROM A SUPPLEMENT. You can bank those yourself in the coffee jar to pay any hospital deductible in case you need it ever. Keep your premiums.
Thank you Tim!!! I am a nurse- retiring in 2months woo hoo- and I can vouch for everything you are saying about Medicare. I have seen the worst of care denied with Medicare Advantage plans. They are fine until you need medical care or services. Keep up the great work if informing people with the truth. You’re crushing it!
No way we wanted to do Medicare Advantage and have an insurance company decide which doctors we could or could not see, which hospital or other labs we could use, etc. I had enough of that BS with my company plan tied to a medical network. We went with regular Medicare and got a gap supplement. It has been great. Go to any doctor that takes Medicare, and most do, when I want. If needed, the doctor can then recommend the best specialist regardless of which network they are in. If ever needed, hospital costs are covered, without having to pay for the first X days out of pocket.
I’ve been waiting for this video! ❤ My husband and I are researching these different plans. We live in Ohio so we will probably go with the N plan after consulting an insurance broker. The N plan is just like G but it can allow the rare event of excess charges. But in Ohio and 8-9 other states it doesn’t allow the excess charges. Also, the G plan can increase at faster premium rates by 18-20% than N over the years. We would never consider Advantage. We may need health insurance prior to age 65. I would like to know a little more than you discussed in this video about the ACA/ObamaCare.
The best sentence I see in your paragraph about is "We would never consider Advantage." You're off to a great start there! If you can find an agent that steers you away from Advantage and towards Medigap then you've really found yourself an honest agent. They get bigger commissions pushing Advantage, so guess which many will try and push you towards. Yep.
Recently purchased AARP United Healthcare plan N in NC. Less than $100 per month premium. Thankful I can afford Medigap policy premiums. I would purchase Medicare plan GHD supplement before I would go on a Medicare Disadvantage/Part C privately controlled by a insurance company.
Plan Z - leave the country and get an International health care plan for $1200 PER YEAR PER couple. Good anywhere in the world EXCEPT the USA. You’ll never guess why.
I talked to a guy age 66, that just had Part A and Part B, nothing else. I talked him into an Advantage Plan with MOOP protection. He was very skeptical asking for phone numbers for the company to call, verifying it wasn't a scam. 6 months later he visited the same store where we met the first time. He was in a wheelchair being pushed by a helper. He told me a month after I put him on his Advantage Plan, his back gave out. He ended up in the hospital, rehab, etc for 5 months and just got out. He was so happy with the coverage he received. He could not have been more thankful. Another lady I talked to had 300k in medical bills covered. I'm not going to say which company is "the best", but look for the one that has the largest Network of doctors and the highest Star Ratings.
Plan N here, $95/mo with Mutual of Omaha here in Oklahoma. The company you buy from does matter in terms of their track record on price increases and their likelyhood for sticking in the medigap market. Some companies try it and quit a few years later. Even though healthy at 65 I don't like a lot of out of pocket costs when something happens as per the "Advantage" plan which can hit you for up to $8k a year should something go south on you, or even more if you go out of network. Plus, if you travel and get sick or decide to travel for better care you're covered. G and N is a pure cost comparison, with a variable of how many times you are likely to see a doctor. I figured 4-5 times a year max and N was cheaper at that rate. Don't be afraid to use a broker, the insurance companies pay them. Just be sure it's someone who leans to original medicare + supplement or at least isn't out for the bigger commission they get with Advantage Plans. You've done a nice job researching, don't you agree that for a lot of people it's too mind boggling though?
You are way ahead of the curve! You live within your means! I waited until I was 70 years old and the difference is 1200 dollars a month more! Everyone is different!
I stayed at my job till I was 68, I always wanted to stay till I was 70 yrs old, but they got me mad and I said why am I putting up with this crap and retired, best decision. Because I stayed I received about $300 mo more which helps pay my health insurance and believe me that helps and I don’t need to work anymore.
@@jc10907Sealy So true. to me it all comes down to how much I need per month. While I'm still working now, I don't have to worry. The goal is to set myself up to have enough money per month to not have to worry when I retire.
Consider dropping Part D premiums and use drug discount cards. If they aren't covering what you take anyway, why do it? If Part D prices are higher than discount cards, you win. And no premiums.
Thanks Tim! I still have a couple years before I'm eligible for Medicare, but I've watched a hundred of these types of videos in preparation and YOURS was the most straightforward and made the best sense! You also got some great commenters here, its been really helpful! 🙂🙂🙂👍👍👍👍
I have a Plan N and unless you are always at your doctor's office, Plan N is better than Plan G. The premiums are lower and the pool of insured in N is generally healthier, than in G ... mostly because G is usually the guaranteed-issue Medigap plan, so the people are less-healthy, so premiums rise accordingly. Plan N does not cover Excess Charges, but those are actually quite rare.
And if you're low income and on Social Security you may be eligible for Medicaid. Which is through Job and Family. Some people could be qualifying for food stamps along with that. Please check with your local job and family. Because if your income is not high enough you are eligible for some of those extra programs.
Only four states (CT, MA, ME, NY) require either continuous or annual guaranteed issue protections for Medigap for all beneficiaries in traditional Medicare ages 65 and older, regardless of medical history. Guaranteed issue protections prohibit insurers from denying a Medigap policy to eligible applicants, including people with pre-existing conditions, such as diabetes and heart disease.
Great info TIM!! We have the G plan as I mentioned under another video..husband was in CCU also he had to be air flighted to another city but a total of 21/2 months and other than drugs we didn’t have to pay a penny
Great video - many people don’t realize that Medicare Advantage plans are managed care. My husband had bladder cancer with numerous hospitalizations and complications. With original Medicare, we had no issues with billing or having to get pre-authorizations from an insurance company.
Try dropping liquid vitamin D into your eyes for glaucoma. See the book: “Vitamin D3 High Dosage; The Alternative to the Previous Therapy of Glaucoma.” Written by Dr Schelle; his first language isn’t English but the advice is good!
I only have A&B. The gap plans cost $145 to $300 Every Month which is much more than I spend out of pocket. My 20% is about sixteen dollars for doctor visits and $4 to $25 for prescriptions. And I don't go to doctors or get prescriptions but a few times a year. $300 a month is a lot when you are on a fixed income, it's a lot, no matter what your income. I don't have Part D I use Goodrx. The 300 dollar eyedrops are 20 bucks or less on Goodrx. These insurance companies have tons of money to pay has been actors because insurance companies are subsidized by the government. You find out about the fine print when you file a claim.
You might consider a High-Deductible G Plan. They are often about $50 or less per month, and Put an annual cap on your out of pocket costs. Otherwise, same benefits as regular G. It's best to get on a Medigap plan while you are still healthy. Think of High Deductible as catastrophic coverage. 20% copays with no cap could get very expensive down the road, if you develop serious health problems down the road. Unfortunately, many agents won't volunteer information on High-Heductible plans, due to low commissions.
I was a little hesitant about listening to this video, because you are from Florida. I watched it and was pleasantly surprised that your information was presented. accurately. I am retired in California, and I loved your description of the Advantage Plan commercials. Keep up the good work enlightening people on the choices available to them.
In total agreement especially if you have ongoing medical conditions. I have the supplemental G plan and pay a fairly reasonable premium each month. But that’s it. I have had gall bladder surgery and other medical procedures and have not had any out-of-pocket costs except the annual deductible.
Consumer advocate Clark Howard of WSB radio Atlanta says if it says ADVANTAGE in the title of the plan, chances are, it's to your DIS-ADVANTAGE. Hearing that saved me a lot of time reading junk mail.
Good content Tim, you are 2 weeks older than me! The Advantage might be a cheap backup for guys who served in the military and have VA medical. I recently talked with a 79 year old man who slipped and fell on his shoulder. He needed medical attention for his shoulder. Went to his local Mayo clinic in his area using his Advantage plan, they sent him home with his arm in a sling and told him to come back in a month. He was in lots of pain and ended up using his VA medical and received the required surgery necessary to repair his shoulder. That story alone, along with other stories I have heard, make it a no brainer for me to go with original Medicare and a supplement once I quit working. The Advantage plan does have its place and is better than nothing. My .02.
Excellent advice Tim you're right over the target. 50% of all medical bankruptcies are people that have insurance. It's all those copay's and items that mysteriously are not covered that take their toll. The medical industry and insurance companies are all for profit businesses they have to minimize their payouts and maximize their cash inflows to appease their stockholders that's just how it works unfortunately in America. It's good to see your RU-vid channel doing well. Godspeed my friend!
Why do you suppose a G supplement plan cost more where you live? I'm in the SF bay area in California and my G plan is $139/mo (I'm 67). Do you have to get a local G plan ? Thank You for sharing what you learn .
@@marcfontana1454 G plans have the same coverage every where, but the pricing is regional based on where you live. You have to buy a plan in the area that you live in. Supplement plan pricing is state regulated and a big factor is how many people are in the plan in your premium rating area. Plans in low population areas tend to be more expensive than in population centers. Another factor is the cost of medical care in the rating area. For example Medicare pays more for treatment at critical access hospitals (which are generally smaller rural hospitals) than at regular hospitals. So if your rating area is rural and served by critical access hospitals, medicare's costs for treatment may be higher than in a city. Since the supplement pays the 20% Medicare doesn't pay that means the supplement pays more too and will tend to have higher premiums in the rural area to offset the higher costs.
Can you tell me how much it cost for your Mobile home that's what you have on wheels, What does that cost you a month, I was thinking about doing that Type of Is living
The plan that says I can go anywhere in the country and gives helicopter service if the best doctor or facility is in another state, that is what I got! Unfortunately I found out when I reviewed my plan it is no longer available to the Ifpublic BUT I am grandfathered into the original contract!
Here's an viewpoint from someone using the advantage plan. In my 67 years I never had any health issues until last year. Fortunately I got a United Health Advantage plan when I turned 65. Last year ran up over a $1mil in medical bills, my total out of pocket was about $1500. I'm in SW Florida and had no issue finding doctors, specialty or otherwise. Funny you mentioned a cortisone shot, I get them every 3 months, just had one last week, never had an issue, jut pay the $20 copay. Also noticed this year they made alot more drugs zero cost. The companies that push this stuff on TV seem sketchy, but sticking with a larger insurance company takes some of that risk out. I have no complaints so far. Keep up the content...
That’s awesome. I’ve always mention it works for some people. I’m very happy that your situation turned out good. Thanks for taking the time to leave your comment.😎
If your health is great, I have a friend who does Medicare Advantage, goes once per year for a free annual checkup. She does free blood work. She gets most all of her Medicare premium back every month and gets a pharmacy or grocery card for free. She doesn't take any pokes in the arm and is healthy.
When I became eligible for Medicare and was looking for a supplement plan, the agents I spoke to were all pushing Advantage plans. I thought this was odd, as I knew about Medigap options. Anyway, I ended up delving into it myself and came to the conclusion that the HD plan F (now HD plan G) made the most sense. It's very affordable and gives me piece of mind. Some providers in our area have actually stopped accepting certain MA plans. My husband is a cancer patient at Mayo Clinic and has plan G. That was a no-brainer!
When I turned 65 a few years ago, I had insurance people at my door trying to sign me up for traditional medicare and telling me to never sign up for medicare advantage. I did my own research and went with medicare advantage and so did my wife. We are both happy with our decision and our doctor. The gym membership through Silver Sneakers is a real plus for us, as we can use any gym in the network, which we do several times a week. My wife did go into the hospital with a serious sepsis infection a few years ago and the bill was over 65K. Our out of pocket was about $1,500 or so if I remember correctly. I had an injury when we were out of town and I went to an emergency medical center and the bill was about $2,300, I paid $150 as a copay. We use the dental and vision benefits which helps as well as getting $60 per month for OTC items. We are both in very good health, so this has worked well for us and we have not seen the downside yet.
tim glad you corrected ur bad advise. on go advantage plan. I thought it was bad advise. also saying only the rich should not take ss at 62 is a over generalized statement that a working class dog like me that saved for a rainy day and drank cheap beer for 40 years may have better options for our surviving brides.
Tim, there are no words to tell you how grateful I am for all you’ve taught me. I think you from the very bottom of my heart. I was hoping to see that link that I could buy you a cup of coffee but it’s not here like it was in another video of yours. How do I make that happen?
Thanks for the warning about the advantage plan scam. Sadly, even AARP has turned on us with a plan. Someone is offering a free dinner next week to get me interested in one.
Great video Tim! My advice to everybody who's approaching 65 go see a S.H.I.P COUNSELOR! You can find out through the hospital or senior center who they are. There is no charge for their service and they will help you make the right decision. I have to have a corneal transplant so I'm getting the best care plan I possibly can when I sign up in August. It is not one of those come ons where you get a dinner and then they explain to you about policies. This is just a social worker. All they do is help you make the best decision you can for your Medicare.
Was reading my mom's medicare insurance book. So so so confusing with all the "if your situation is this but if you're doing this you get" scenarios in it. I gave up trying to understand it. Shouldn't be that confusing.
Advantage plans are for two types of people. The ones who can't afford $100 to $200 a month, and veterans who get 100% of their healthcare through the VA, otherwise stay away. I have plan N for less than $100 a month but only see my doctor 1 time a year. My regular doctor is through the VA. I live in NC and use an agent in SC.
I appreciate Tim trying to educate seniors about Medicare options, but PLEASE talk to a qualified insurance broker who specializes in Medicare plans and can accurately provide information about your options. I did that when I turned 65 and I couldn't be happier with the plans and information that was provided to me. Brokers like Stephanie Abt or Christopher Westfall, who both produce great RU-vid videos about your options, do not charge a dime to get you placed in a plan that best suits your needs. As much as I appreciate Tim, the problem with a situation like this is that SOME of the information he provides is inaccurate or speculative. His heart is in the right place, but if you want accurate data with detailed information, do yourself a favor and call a broker you can trust. And in full disclosure, I do not work in the insurance business nor do I benefit at all from you using a Medicare broker. The essence of what Tim says is true. Although Advantage plans sound economically and medically workable, they are very limited if you struggle with your health, and though you may be healthy TODAY, this can all change overnight.
