What are your 2020 Medicare choices for Open Enrollment from October 15th to December 7th, 2019?

[RaySharpton]

No help to you, but I do find this incredibly confusing. DH is on original Medicare, Aetna as the supplement and Mutual of Omaha as part D. I am not quite there yet. For the 2018 calendar year, he had part D which was good for the meds he was taking but then got put on a med that was in a different tier. The cost per month was $1800 as it was in the higher tier. Luckily, the doctor gave samples to help us through. For this calendar year, he changed his part D but that brought it to $400 per month. We are looking into going even higher of a tier that if the monthly payment for part D is higher if that will offset the cost of the drug.

We have an independent agent, no cost to us.

Hi, maxaroni. Thank you for sharing. I disagree, I like your help by giving your experiences. It is always a help to me when I hear other folk's experiences with different things. It is getting harder and harder isn't it?

 

[RaySharpton]

Hey, Ray, good to see you.

Medicare supplement (Medigap) plan G provides the same benefits as Plan F except the Part B annual deductible is not paid with Plan G. However, Plan G annual premium, along with you paying out of pocket for the Part B deductible, should always be less than the annual premium for a Plan F.

Medigap plan (A, B, C, F, G, etc) benefits are the same from one insurance carrier to another. So, as example, a plan C with United Health Care will have identical benefits to a plan C with Blue Cross. A plan G with United Health Care will have identical benefits to a plan G with Blue Cross. And so on. The only differences will be the premiums (typically small differences from company to company, it is competitive) and the actual level of satisfaction in service you get from the companies.

Part D is a whole other bag. And not a good bag, more confusing than the Medigap above. Benefits vary widely from company to company, as do premiums. And the companies most often change the benefits of coverage, tiers and premiums year to year. The suggestion is to use the Part D section of the Medicare.gov website every year at this open enrollment time and enter your personal information, along with the medicines that you currently are taking and also anticipated new medicines you are confident you will take next year if any. The website will then calculate all the companies in your area, their plans and total costs, including premiums, deductibles, co-pays, and donut holes and rank them, least to most costly. Half the companies you probably won't be familiar with, but all should be fine for the coming year. There will be wide variances. The individual components, premiums, deductibles, co-pays, and donut holes, will be broken out, but most important is the total cost column. This crazy exercise should be done every year.

I hope this helps a bit, Ray, and not too confusing.


(not to be taken as financial advice)

Hi, Dan. I miss our meets at WDW every December. We need to get together again at the Swan Resort.

Thank you for your information. I always enjoy reading your comments and suggestions and experiences.

 

[dhardawa]

I just helped my mom with this this morning. She has a supplement plan, but needed a prescription plan. She ended up going with the Humana Walmart Value Rx Plan. It’s about $13.50 a month and all her prescriptions are tier 1 or 2, so they’re super cheap. Also, tier 1 and 2 have no deductible.

 

[RaySharpton]

3 Reasons to Consider Making Changes During Medicare Open Enrollment

https://www.kiplinger.com/article/i...html?utm_source=twitter_kip&utm_medium=social

Between Oct. 15 and Dec. 7, Medicare participants can make changes to their plan(s). Here are a few reasons you may want to take advantage of this open enrollment period.

1. You have Original Medicare and want to save money.
People enrolled in Medicare Advantage plans, on average, spend less on health care than those with Original Medicare. This includes a combination of premiums and out-of-pocket costs, along with drug coverage.

Medicare Advantage plans aren’t for everyone. Availability and costs vary widely by geographical area. Medicare Advantage plans generally restrict your choice of service providers. It’s also important to note that the expense differences above may reflect different levels of health care consumption across the three groups. Even considering these caveats, enrollment in Medicare Advantage plans has increased sharply in recent years because of the associated potential cost savings. If available in your area, they are worth considering.

2. You enrolled in a Medicare Advantage plan and realize you made a mistake.
As mentioned earlier, the downside to a Medicare Advantage plan is the limited provider network. You may not have fully appreciated the limitations when you chose your plan. Or you may have developed a new medical issue that requires specialists who aren’t available under your plan. Out-of-network medical care can be very expensive.

If you find yourself in this situation, open enrollment will give you the opportunity to consider other insurers’ Medicare Advantage plans, which may have better network options. In addition, if you switched from Original Medicare and Medigap within the past year, you have the option to switch back to your old Medigap plan. Just don’t wait more than a year — there’s no guarantee the Medigap insurance company will offer you a policy, especially if your health has worsened.

3. Your drug prescriptions (or coverage) have changed.
It is surprising how different the cost for a specific drug can be in two different drug plans. A plan that worked well for your prescription needs a year ago may be far costlier if you’ve added a new drug to your list. In addition, the plan can change its drug list (called a formulary). Formulary changes can take effect the next year, or sooner, such as when a generic equivalent is introduced. One positive change heading into 2020 is that the Part D “doughnut hole,” a confusing and potentially expensive coverage gap, will be completely eliminated.

The Medicare website offers a Plan Finder to help you shop for drug plans (Part D) and Medicare Advantage plans. It enables you to compare costs based on your specific prescriptions. You can also see what pharmacies are in-network, as well as plan “star ratings.” There’s a lot of information on the Medicare site, so be sure to set time aside to digest it all.

Medicare is a complex topic, and it’s important to understand your options. If you’re approaching Medicare eligibility age, or just want a refresher on your choices, check out our Planning for Medicare video.

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