Medicare Cost (personal not political)
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Thread: Medicare Cost (personal not political)

  1. #1
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    Medicare Cost (personal not political)

    This next year I will turn 65 years of young. Which means that I will need to enroll in Medicare and start looking at taking out an alphabet supplement to cover the uncovered portion of what Medicare does cover.

    And as I understand it there is a 6 month window in which I must sign up for Medicare without paying deeper from my pocket as a penalty of tardiness.

    If I also understand it correctly, all of the Part (enter alphabet here) plans cover the same thing in basic. The greater difference between the insurance carrier is the premium and maybe a few little perks.

    My question is for those of you who are in the know, what do the Alphabet Part premiums cost average out of pocket. I am really in hope that it will be less then my current healthcare insurance cost is.

    Thanks in advance, and please feel free to interject any additional information as to enrolling and dealing with the Medicare process.
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    I am not a medicare recipient yet (if ever) but I know that when my parents went on (more than 15 years ago) their Medicare supplement insurance cost more than their private health insurance they were on. I believe they also have deductions from the Social Security check to pay Medicare premiums.

    As you mentioned, however, it is outrageously important that you sign up within that window (I believe 3 months before and 3 months after) otherwise your cost for Medicare will go up, and I believe it is a significant amount.

    Good luck.
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    I enrolled in Medicare this past January. I opted for the AARP Medicare Complete Plan by United Healthcare. I have 4 different prescriptions that I take and my cost is "0". Out of pocket for the year is $145.00 so far, with NO deductible.The expanded coverage plan cost is covered by my basic Medicare here in Florida with no additional premium paid.. I am happy with it, and have no plans to change carriers this next year. I should say that I am quite healthy, with no major maladies. Just make sure your medical providers subscribe to the plan you choose.

    The actual process was easy, but you would think that it is complicated the way the insurance providers advertise.....
    Last edited by bobbojama; 11-08-2019 at 08:32 AM.
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    I can tell you about Blue Cross C+ plan F.
    Thats what I have. I chose this plan because I have lots of Dr visits on a routine basis -about 25 per year -if I am not sick. This plan pays 100% of all Dr, hospital, clinic, tests, and so on. I do not have copays -zero. Plan F does not cover prescriptions, vision, hearing or dental. Cost is $176 per month.
    On my drugs- I pay cash at a mom and pop pharmacy- about $65 per month cash- its cheaper than a drug plan. I take 7 meds and all are generic and tier 1.

    Their are cheaper plans- for WELL people....some without any premium at all- but you pay through the nose when you go to Dr or hospital or ER. Some cover everything-seemingly but deductible are usually very high.

    Basically if you are in very good health and never go to Dr - pick one of the free or cheap ones and pray you never need it.
    But like me- I have had 2 valves replaced, on my 2nd pacemaker, and cancer a couple times. I am high maintenance- so I would be bankrupt on a cheap plan.


    EDIT: If you are still working, or if your spouse is still working- you may can get coverage on the family plan from your spouses work? If so, it may be cheaper than Medicare and a supplemental plan. I did that for several years. Did not start medicare til I was 70. There are no penalties as long as you are covered by other insurance- and you can enroll in medicare at any time of the year-so long as you are covered in the mean time.

    Edit 2: One thing I forgot to mention Plan F pays the $185 medicare deductible.
    Last edited by brojohn; 11-08-2019 at 03:23 PM.
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    My younger brother has what bobbojama has- AARP United. He is younger than me and healthy. He likes that plan.
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    I was given great advice when I went through the same thing last year . The advice came from those here that knew already what to do . So i'll pass on what advice they gave me which I did .

    First you should go to : https://www.ssa.gov/myaccount/ . Create your S.S. account , if your not starting S.S. drawing yet don't worry cause all your doing is creating an account so that when you are ready to start drawing a S.S. paycheck you will do so within your account . You have that option to not start drawing a paycheck now . Be sure save your link and PW and username as usual . When your ready you sign in and find the section to start drawing and you have options for giving your bank info for direct deposit which is the safest way .

    Next go to : https://www.medicare.gov/ and create an account saving your PW and username and links also . After you have created an account you have your choices for what plans you want to take . The main one you want to sign up for is Medicare Part A . This cost you nothing and will generate your Medicare card that you'll get in the mail at the beginning of the new year in 2020 .

    Now comes a bit of trickery things needed later on . You have the option to go ahead and sign up for Part B at the same time or you can wait until your ready to retire and start drawing a check . Now if you choose to sign up for Part B it will cost you $135.00/month unless it goes up starting January 2020 . If it does it's usually about $5.00 more a month . This is the trickery part . If you have started your S.S. check when you created an account then Medicare will be automatically with drawn from your S.S. check . If you have not started drawing a S.S. check then Medicare will bill you on a Quarterly time starting January through end of March , so you will get a bill for 3 x $135.00 = $405.00 unless it's gone up since January 2020 then you can add the difference to that $405.00 .

    But when you first create your account with Medicare you have the option to go ahead and give your bank account info and have it setup so the bank will pay monthly payments instead of Quarterly payments . That way you wont have a large bill like I do every Quarter cause I have not started drawing S.S. check even tho I was 65 Feb. 2019 . When i'm ready for my S.S. check i'll sign in to my S.S. account and sign up for my check to start . You might want to do this 3 months ahead of retirement so your check will have time to start coming in when you fully retire .

    Now this is what put a burden on me . My BD is Feb 17 and I had already signed up for Medicare Part A & B so I wouldn't have to worry about it later . AT the end of the Quarter which was March I received a bill from Medicare with a whopping charge !! I called Medicare to find out what was happening and why the large charge ?? They said since I signed up for Part A & B before the start of 2019 then my coverage started January 2019 for the first Quarter but so I had to pay for that now but also I have to pay in advance for the next Quarter so I got a whopping bill for $780.00 !! I almost fell out of my chair and have an heart attack !! So surprise surprise !! Luckily I had the money but now i have been paying Quarterly so it's the $405.00/Quarterly cause at first it was $130.00/month until it went up $5.00/month more .

    SO don't let it scare you , just be ready to dish out money if you sign up for Part B also when you sign up for Part A . Remember Part A is free and you don't have to sign up for Part B until your ready but Part B will pay more if you have a lot of Medical needs . Otherwise sign up for Part B After you start your S.S. check coming .

    One last thing , when you sign up for Medicare you'll have a lot of other options like Part C and D and a few other plans . Check them out but do make a lot of searching for outside plans and see is your cost is better with or without an outside company . Good luck and i'm sure there will be many more to chime in with good advice .

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    My wive and I have been on Medicare for 11 years now.
    Started out with Plan F and a separate part D drug plan. Plan F is expensive, but since ours is with Wellmark BC/BS it is accepted everywhere. That is not the case with several plans we looked at.
    Plan F will no longer be offered in 2020 to new enrollees. But those that currently have it can keep it.
    Suggest you contact a SHIPP counselor in your state. They will help you a great deal in your search for a plan that fits your needs.
    Many doctors and clinic have decided to limit the plans they accept.
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    I don't know about other states but In Wis. we have only a few plans to choose from. Most are pretty similar.
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    Right now our insurance for the two of us runs near $1400 a month, so on face value Medicare sounds like a bargain. The current plan is a $5K deductible with a $2,500 out of pocket. Meaning that the first $7,500 are out of our pocket per individual. On the other hand we do have the ability to see any Doctors we choose as well as any facility.

    We changed our Primary Care Dr. a couple of years ago, one of my first questions was "do you accept Medicare". At that time they were not accepting any new patients on Medicare, however would grandfather any current patients as they aged in to Medicare coverage.

    I appreciate all the sharing of information so far, please keep it coming. I'm fairly sure that I am not the only member who is looking at moving into the Medicare world of confusion of jumping through hoops this coming year.

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    That’s about average for deductible ^^^^^^^ with outside insurance depending your plan . My work pays for my insurance but the plan i have has a $1250.00 deductible for me and suppose to pay 80% but I’ve found that they lie . But i do know at this point Medicare does have a once a yr deductible but its like $183.00/year total but Part B only pays 80% also . But they have a plan for a cost that is suppose to act like your supplement and pay the rest off but b4 i would do that do your research thoroughly !!

 

 
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