Medicare Supplemental Insurance

[dramsey1]

Turning 65 next year and starting to look at medicare supplement insurance. We plan to travel a great deal and most supplements that I've seen thus far seem awfully regional specific. Does anyone have any thoughts on a good supplement policy that doesn't tie one down to a certain area?

[tatest]

I don't understand. Medicare Supplements are portable, at least all of the United Health Care supplements sold through AARP. F, G, N plans cover your pretty much anywhere you go, with different deductibles and co-pays. I'm still on a Plan N because at this stage of my life I prefer the lower premiums and am willing to pick up the co-pays. It covers me anywhere in the world, where Medicare does not, but I still buy travel medical coverage when I leave the U.S., for med-evac and to take care of insurance requirements for countries that have national health systems that don't take care of visitors (e.g. Czech Republic).

As you approach Medicare age, most folks approaching you to sell you something are selling Medicare Advantage programs, often for no premium. These are often essentially HMOs, and they are often geographically restricted and provider restricted.

Going into my 72nd year, I'm paying $110 a month for Plan N in Oklahoma.

[wgriswold]

Several on my docs will take Medicare but not Medicare Advantage. Apparently the hassle of dealing with the insurance companies is not worth it.

[SpeakEasy]

You need to be clear about the difference between the terms SUPPLEMENTAL and ADVANTAGE. They are two totally different things, and what type is best for one person is absolutely not best for another. That's why the OP needs to start with an outside advisor. Or, at the very least, do some studying of the terminology.

-Speak

[Gjac]

dramsey1 wrote:
I've been googling and found a couple of advisers in my area that seem like good alternatives. Is anyone aware of anything I should look for or watch out for?

It is hard to know even the right questions to ask when first starting out that is why an adviser is good. In general if you don't have chronic health issues where you know you need to go to see a Dr every month for tests, then the major concern is emergency situations when traveling from state to state. I have Atena advantage plan and it will cover ER visits where ever you travel, even if they are not in network. In this case you pay the facility and they will reimburse you to the full amount that you would have been charged if you had gone to an in-network facility. The ER coverage works the same way when you travel out of country. These plans change from year to year so the best plan this year might not be for the following year. I have had two dental plans but have not been happy with either. Ask about the max out of pocket cost, this keeps going up every year. When I turned 65 it was $3,700 today it is $6,700. The free Silver Sneakers or Silver and Fit gives you free access to most heath clubs YMCA, LA Fitness, Anytime fitness, Golds GYM to name a few which is a big savings over standard fees. One of the 4 different plans that I have had covered glasses up to $250/year, one gave a $20/month refund for over the counter drugs, but was a pain to keep the receipts and send in every month. These are some of the things to look for and ask your adviser about.

[pnichols]

wgriswold wrote:
If you get a supplemental plan, not Medicate Advantage (Part C), the company doesn't matter. They all sell the same thing. Once the choice of plan is determined, shop for price and choose the cheapest. Repeat each year.

Well stated!

The government got it right with these structured Supplement Plan procedures. It's been made very, very simple for us customers and for the companies offering the plans.

Now .... if we could only get the same type of straight-forward approach applied to prescription drug plans!

[wgriswold]

If you get a supplemental plan, not Medicate Advantage (Part C), the company doesn't matter. They all sell the same thing. Once the choice of plan is determined, shop for price and choose the cheapest. Repeat each year.

[OldRadios]

I've been going through the same thing this year. Have to choose in the next three months. So far everything I've read reviews on points to United Health Care through AARP. I just have to figure out if I want plan G or F.

[2gypsies1]

Why not just go through the Medicare site for supplements?

[dramsey1]

I've been googling and found a couple of advisers in my area that seem like good alternatives. Is anyone aware of anything I should look for or watch out for?

[dramsey1]

What would be the best way to find a good advisor?

[SpeakEasy]

jplante4 wrote:

OH48Lt wrote:
Talk with a certified advisor that works with multiple companies. He/she will make recommendations based on your particular needs. They do not charge for this service, they get paid by the insurer.

This is the best way to do it. Very difficult trying to make sense of all the plans, especially the drug plans. The good news is you can change the plan every year.

x a million.

Your best advice is to IGNORE pretty much everything else you've read in this thread. Get some professional help. This is a pretty complicated question you're asking, and the answer that is best for you will be different from the answer that is best for someone else. Too many variables.

-Speak

[jplante4]

OH48Lt wrote:
Talk with a certified advisor that works with multiple companies. He/she will make recommendations based on your particular needs. They do not charge for this service, they get paid by the insurer.

This is the best way to do it. Very difficult trying to make sense of all the plans, especially the drug plans. The good news is you can change the plan every year.

[time2roll]

Interesting rate information as I manage Mom's healthcare. For the most part the co-pays are less than these premiums but could go well over at times. Everyone's situation is different. Thank you for the perspective.

[Mountain_Mama]

OH48Lt wrote:
Talk with a certified advisor that works with multiple companies. He/she will make recommendations based on your particular needs. They do not charge for this service, they get paid by the insurer.

This is what we did for my husband. She printed out a list of starting with the lowest cost one, which happened to be Cigna in our area. We went with it & Plan G that you pay the deductible for annual Dr. apps. She did tell us that we will not be able to ever change to plan F later if we want to. Also, annually he may not be able to change companies just to get lower premiums due to the fact of his health problems & a change would have to be approved by the new company's underwriters...Might or might not happen.