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Medicare Guidance

Discussion in 'Off Topic Threads' started by Unsingle, Aug 13, 2011.

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  1. Unsingle

    Unsingle Member

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    Wow, I could use some help in understanding this Medicare mess. I will be eligible for Medicare as of December, 2011. I understand that I must sign up for both parts A and B, at a cost of approximately $110.00 per month. Does that come out of my Social Security payment? I also understand that I need to enroll in some sort of Plan C that includes Part D prescription drug coverage. In my state, Blue Cross has a Senior Plan C with Part D coverage for $348.00 a month. Is that reasonable compared to what you pay? Is that in addition to the $110.00 per month? Any other suggestions? I have major heart problems, so this is really important to me. Any guidance of any kind would be appreciated. Thanks
     
  2. Ajax

    Ajax Well-Known Member

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    Medicare will send you the information you need about what options are available. Usually about three months before your birthday. Yes, they will take the cost out of your SS for parts A and B. You will probably need a supplemental plan. The information from Medicare will explain what the different plans are. Each State has different insurance carriers, so the price would not be the same.

    Medicare has a web site.

    Ajax
     
  3. hmb

    hmb Well-Known Member

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    Medicare will cover 80 per cent of doctor and hospital costs. You will need supplemental insurance plan to cover the other 20 per cent and to cover the cost of perscription drugs. HMB
     
  4. Rick Barker

    Rick Barker Well-Known Member

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    You have a 3 month window to sign up before your 65th birthday. You must sign up for Medicare by then but you can put off sign up for other parts, PROVIDING you are still covered by some other insurance by your employer or spouse.

    At the beginning of each year you make changes in parts b, c, etc.


    NRAoffersr coverage thru TransAmerica, AARP thru Hartford as others organazations and you will get about 4 bushels of mail from insurance companies offering you plans as time nears your 65th.


    You can sign up over the Internet.
     
  5. gus in philly ata57

    gus in philly ata57 TS Member

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    $348.00 is way to much
     
  6. glenn mcleod

    glenn mcleod Member

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    I have BC-BS in Minnesota and it costs $109/month for me and the same for my wife. You can get much chaper coverage but this is excellent coverage and I have never had to pay. In addition we have to pay $39.40 each for the Part D (drugs) which pays fully after you reach a deductible. For me this is better than before we reached 65 as I was self employed and paid $1250/month for the same medical coverage but no drug coverage. Approx. $300 VS $1250 is good for me. I have no problem with this and Obama Care will not help as I realized years ago that there is no free lunch. Someone has to pay. Best wishes on your retirement, I retired in June at 68 years, life is good. Glenn
     
  7. pyrdek

    pyrdek Well-Known Member

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    One thing to be aware of if you go on Medicre with your working spouse coverage being used to provide the additional coverages normally required, is that should your spouse retire, quit or otherwise terminate coverage, your Part B etc. coverage must already be in effect on the day the spousal coverage ends. If you did not sign up for Part B etc. when you went on Medicare. there is a delay from the time you sign up for Part B till it goes into effect. In our case it was about a month and half between sign up and coverage going into effect. If you have a medical problem while Part B is not yet in effect, you can expose yourself to the potential of very severe financial problems.

    You will have to pay when you sign up even though your employer coverage is still in effect. Keep this in mind.

    Also, should you choose to not collect Social Security till later, you will have to pay, out of your own pocket, the expenses for Part A starting at age 65 and the other parts when you sign up for them (spouse coverage as mentioned above).
     
  8. cunninmp

    cunninmp Member

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    Unsingle,

    I'm in California, and pay no where near $348. I turned 68 in June so I
    got my yearly increase. My supplemental and drugs are through Humana.
    First off my supplemental is the high end plan "F". Costs $152 a month.
    Oh, I choose Humana because they are 100% paperless. AARP has some paper
    involved. My drug plan is now $46.00 a month.
    When I go to the Doctor, Hospital, Lab, they copy my cards and thats it.
    All for a combined $198.00 a month not counting SSA which is $98.
    The Humana fee's come out of my checking account monthly.
    By the way, my plans are PPO's so I can go where ever I want.
    About 6 months before I turned 65 I started to look at all these plans.
    In Sonora, CA found a non-profit that specialized in helping people
    55 and older. Found out that all these plans are regulated by the feds
    on price. They are all within a few dollars of each other. I could have
    saved about $3.00 a month by going through AARP, but then I would have
    had paper work to fill out. Also looked at Blue Cross but the agent was
    trying to sell me a high end plan that wasn't needed.
    As a sidenote, at 65 I found out I have a rare form of blood cancer.
    After over $60,000 worth of tests and I go to a specialist every 2
    to 3 months, it has only cost me $32.00. I have no idea of the total
    costs over the last three years.
    For me the system has worked very well. If you can, talk to some of
    your friends that are on Medicare and see what they have experienced.
    Also in your county see if there is a place you can go for info.
    Out here it is called "Area 12 Agency on Aging".

    Mike Cunningham

    Groveland, CA
     
  9. shooterIII

    shooterIII Member

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    Avoid AARP like it was the plague.
     
  10. Haskins Bill

    Haskins Bill TS Member

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    Very good answeres to your questions. Even if yu are still working yoiu must sign up for Medicare part A and B. if not then your comapany insurance only pays 20% and if not signed up for mMedicare then yu on the hook for the 80%. Best places to get Social Security and Medicare answeres = the kid who cuts your grass, brother in law, hair dresser, postman, homless guy on the corner, You guessed it The Social Security office in your location!!!!
     
  11. pullll

    pullll Member

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    Even with the federal government involved every state insurance rates and companies are not the same. After living in Florida for ten years and moving back to Indiana the insurance plan F is considerable higher in Indiana.. That is the same problem with limited regular insurance competition per state because of state laws.. Now politics, Republican health care plans would have eliminated state by state limited competition and you could purchase health care from any company, anywhere.
     
  12. bluedevil

    bluedevil Active Member

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    I recently had quadruple bypass at a cost of around $200,000. I have Humana Gold at $55 per month over the cost of SS. They said maximum out of pocket would be $5,000 per year so I thought I would pay the $5,000 and be done with it. Much to my surprise when all my bills were paid our out of pocket was$1500.00. I had the very best care I could have got and super Docs, complete rehab service. I'm a very lucky man and very content with my Humana Gold.
     
  13. Unsingle

    Unsingle Member

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    Thanks for the advice. Any more suggestions would be appreciated.
     
  14. Big Heap

    Big Heap TS Member

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    If there is a Senior Center in your area, call and see if they have a volunteer who can answer Medicare questions. It will save you a lot of anxiety and you will get the correct info.
     
  15. cubancigar2000

    cubancigar2000 Well-Known Member

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    only part A is required. I am 69 and have never signed up for B or C. It cost me nothing but I do have coverage with my wifes employer. Again, everyone is required to be on part A, nothing else. Part A is for extended hopital care, part B prescription drugs and part C is health care. In order for me to eventually get on part C & B I will have to have no lapse in coverage. my mother is on all three and pays a supplement of $250 a month with never any cost to her but Obammy plans to change that
     
  16. cubancigar2000

    cubancigar2000 Well-Known Member

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    Nothing is mandatory, at age 65 you will enroll in part A which covers hospital stays, parts B,C,D will cost you but they are not required. I am 69 and have never signed up and pay 0$$. Of course I have coverage where my wife is employed and will have to sign up before she retires so there is no lapse in coverage.
     
  17. John Galt

    John Galt TS Member

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    The above URL gives the facts about medicare. BTW, you can sign up late for part B like cigar above said but you will pay a late enrollment penalty.
     
  18. Unsingle

    Unsingle Member

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    Another question about drugs. I take Lipitor, Zeita, and Azor to name a few. What co pay or deductibles do you pay per prescription? This damn thing Medicare is starting to look like it is going to cost me more than my old insurance!
     
  19. dmarbell

    dmarbell Active Member

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    In some states, and in some areas of states, there are plans similar to "Medicare Advantage." These plans offer lower premiums and copays than traditional Medigap policies (in some cases). Google Medicare Advantage and your state to find out. Or call major healthcare providers in your state.

    A few years ago, in our part of NC, these plans could be had with zero monthly premiums and a max out-of-pocket of $3000 per year. You have to use their doctors and hospitals, as they are PPO type plans.

    Danny
     
  20. Unsingle

    Unsingle Member

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    I got my card medicare card today. Thanks to everyone for the advise.
     
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