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Medicare Supplement

Discussion in 'Off Topic Threads' started by esoxhunter, Apr 6, 2009.

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  1. esoxhunter

    esoxhunter Well-Known Member

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    Hey: My wife and I are reaching the magic number. (65) I have a Medicare supplement through my previous employer that will cover me for about 5 years. my wife however, will need to buy a private supplement. She has no medical problems and takes no medication. This makes us feel that we would look for the most economical supplement she can buy. We looked into AARP and they sure aren't cheap. Any advice?? Thanks. Ed
     
  2. bucrub

    bucrub TS Member

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    None of them are "cheap" and usually the cost is based more on location [by state] than by age or medical difficulties. It is the plan "d" {prescription benifits] that differs the most in price due to medical problems. AARP usually kicks in price wise once you reach 70. Good luck and be sure to shop around.
     
  3. BDodd

    BDodd TS Member

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    The issue with AARP, though, that they are staunch anti-gun and not about to logically discuss that issue.....breakemall...Bob Dodd
     
  4. esoxhunter

    esoxhunter Well-Known Member

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    I hate to do any business with AARP. We feel that she has never taken medication; it would be best if we just purchased Medicare Part C. Part D is for prescription drugs and we felt we would skip that part of the supplement plan; which should lower the premiums considerably. Thanks.. Ed
     
  5. halfmile

    halfmile Well-Known Member

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    This whole senior insurance thing drives me nuts.

    I sort of agree with you on the part D, it's why I, at almost 70, am still on my wife's insurance instead of getting supplements and such.

    I believe you can enroll in the part D whenever you want if you have not had it.

    Otherwise you have to wait till the enrollment period which is from November to March or something like that.

    I hope someone will chime in here and refer to a plan that makes sense and doesn't rape you.

    I looked in the back of the Medicare book they sent this years, and wow what a bunch of different confusing plans.

    I know an epert in this can explain it to a layman in terms that are understandable.

    HM
     
  6. shooterIII

    shooterIII Member

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    There are penalities for drug benifits for each after age 65that you wait to enroll. Talk to you insurance agent and he will explane it to you. In Minnesota we have a lot of people using Blue Cross, Blue Shield. My wife and I have Mutual of Omaha because they had the best bang for our buck and are accepted in all 50 states.

    Stan
     
  7. esoxhunter

    esoxhunter Well-Known Member

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    A friend of mine emailed me today and said he and his wife pay $18 a month each through Humana. (They live in Wisconsin). However, as stated before; I have enough credits from my employer before I retired, (for myself), to get by for about 5 years. So right now my focus is on obtaining a supplement for the wife.
     
  8. Ljutic111

    Ljutic111 TS Member

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    When I turned 65 I went down to the local senior center for advice and they gave me about 12 to look thru but when I saw the Oxford plan , it looked good because I hadn`t had much of a health problem , They took the Medicare dollars from my S/S money which amounted to about $89 at the time and gave me my card and since then it has changed to AARP/Medicare Complete from SecureHorizons . You don`t say you have Medicare but you just show these insurance cards . It has Dental,Prescriptions and $10 co-pay for doctors . So far I`m happy with it and the cost is great . God forbid I ran into a catastrophic health issue and found out later that it wasn`t enough but I`m cheap and this seems like the way for me to go . My wife didn`t turn 65 yet but I think when she does , I will enroll her in this also . Right now we pay $203 for her insurance thru my Union policy . Hope this helps a bit . I`m in the process of re-evaluating what generic drugs I could switch to so I don`t go into that dreaded donut hole for drugs and have to pay the full boat until I reach a certain amount but some doctors don`t want you to go there and prescribe only the higher end stuff which starts to eat away of that total amount very quickly . That amount is the original cost of the drug , not what your co-pay is thru the year .
     
  9. BIGDON

    BIGDON Well-Known Member

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    Go talk to an Insurance agent that you can trust and who writes this type of coverage with several companies. Their are only so many plans as per the Gov't. and he should give you a booklet with the plans. Pick and discuss which one fits your particular situation and then price shop it with several companies, which he should be able to do. Just because you know someone paying less than what you were quoted doesn't mean that someone has the same plan as you do. You can have your supplement and your perscriptions with separate companies so don't think they have to go together.

    Not that it means anything but I have my supplement with Golden Rule and my drugs with the Blues.

    Don
     
  10. Gary Olin

    Gary Olin TS Member

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    Ed,

    This link provides a nice summary of Medicare Parts A, B, C and D. Most Part C plans offer drug coverage. So, if your wife joins one of them, there is no reason to purchase Part D coverage. However, most Part C plans are a form of managed care--an HMO or PPO or whatever--and some people don't like to be restricted in their choice of doctors. Hope this helps. Also, you may want to check the drug coverage in your Medicare supplement. Not all of these supplemental plans cover drugs.

    Gary Olin
     
  11. vegas blaster

    vegas blaster TS Member

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    senior dimensions
     
  12. hose 'em down

    hose 'em down Active Member

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    Too much bad info in the thread. Go to the Medicare website and study the benefits. Then consider the stand alone supplements and Medicare Advantage plans available to you in your county......yep residence is important. Only then will you know what to do and what you are comparing. Most Med/Adv plans are rep only by Co. employee's, eg Humana, Secure Horizon's, etc.

    Hope this helps.

    Ernie
     
  13. cubancigar2000

    cubancigar2000 Well-Known Member

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    Ed, did you not get this years booklet from the govt ( medicare and you 2009)??.My advice is do not pass on the prescription coverage, if you do and then one of you gets to the point of needing permanent meds, they will be excluded because of pre existing conditions. Do it now and bite the bullet
     
  14. esoxhunter

    esoxhunter Well-Known Member

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    My problem is that I have about 4-5 years left in my account through the State of Wisconsin, that pays my complete supplement to include all medications. (This is an account that I paid into while I was employed). It would seem a waste for me to have to buy another supplement for myself; when I am paying $320 a month out of this account that would "mirror" any plan that I might have available to me. I should note that the money in this account cannot be drawn out and can only be used for this purpose.
     
  15. spitter

    spitter Well-Known Member TS Supporters

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    If you've got supplemental coverage, keep it. When you draw down the account change. If you have coverage and change to another "supplement" there are no pre-existing limtations.

    Whether you choose a traditional supplement or an MA plan, speak witt your providers first to determine who they accept.

    When choosing a supplement - determine what you need. Do your providers accept Medicares level of benefits - if not choose Plan F. If they all do, choose from plans C-E depending upon whether you want deductibles covered, an annual exam or nursing coverage.

    Part D is available during "open enrollment", "special enrollments" or the "annual open enrollment". So if you don't take it when first offered, you can if you lose coverage or during November & December for the upcoming year. If you have other coverage, there is no penalty. If you declined coverage and then get in later there is a 1%/month penalty, but if you figure the cost savings on premiums by waiting (no needing coverage), then the penalty may not be big deal.

    respectfully offered,
    Jay Spitz
     
  16. missemucho

    missemucho Member

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    Check this month's Consumer Reports.
    John
     
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