Medicare

[2goofycampers]

Frank will be 65 in November so I have been researching Medicare. So far I see there are
1. Original Medicare 2. Advantage Medicare 3. Medigap supplement to Original Medicare. Any advice on which is better or what to stay away from?

 

[bigdisneydaddy]

Having spent countless hours on several bargaining committees I can say that insurance was one of the most difficult issues to deal with. Lots of fine print and lawyer speak, neither of which I am a fan of. Good luck with your journey.

 

[lanejudy]

You are smart to get started looking into it early! DH signed up a few years ago when my employer coverage changed. This is the "simple" version of what I learned at that time:

• Original Medicare includes Part A (hospital services) and Part B (physician services). No prescription coverage. The standard premium for 2021 is $148.50 (officially for Part B as Part A should be free to most).
• Medicare Advantage plans are very much like what most folks have for health insurance through employers. There are usually various plans from which to choose. Around here it's a PPO - preferred provider, so you'll want to check the networks and your current providers. Also includes prescription coverage but plans may vary so if you taken any regular medications be sure to plug those into the search so you can find out which plan will cover all (or most). The premium is likely higher than Original Medicare.
• Medigap is an optional supplement to Original Medicare, intended to help with the out-of-pocket costs like copays, coinsurance and deductibles, though there are some limitations. It does NOT cover prescription drugs. There is a separate premium in addition to the Original Medicare premium.

Unless you choose an Advantage plan with prescription coverage or otherwise have "creditable coverage" through an employer retiree plan, spouse's employer, etc. he will need a prescription plan as well. These can vary widely, and if you take any regular medications be sure to input all that info so you aren't surprised by something no covered or high copay.

Good luck!

 

[friendofeeyore]

We have a supplement ins. thru Blue Cross & Blue Shield. I pay $233.00 a month. So far I have not had to pay anything when I go see the doctor etc. (which is very rare). Thru all Arnold went thru, with his medicare & Blue Cross, we have not paid a cent out. His bill were high with cancer etc. I know Frank will love retirement & fishing a lot more. Good luck.