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Medicare Annual Enrollment Period coming up!

Discussion in 'TUG Lounge' started by simpsontruckdriver, Oct 10, 2019.

  1. VacationForever

    VacationForever Tug Review Crew: Rookie TUG Member

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    Hassle or not has to do with how much it is worth to you to save money. I saved about $12K that year on ACA.

    Changing coverage to a different state is trivial. It is called change of life event. If you start and continue with ACA, you just go to NH version of ACA. Same thing with private insurance.
     
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  2. mpumilia

    mpumilia TUG Review Crew: Veteran TUG Member

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    Really, this is all too much for me. I still have to consult with our FA in November to see exactly how we are going to live on our savings and from which accounts and how much to withdraw. Last time he said regular savings and brokerage (mostly bond funds). I don't remember if we are doing Roth conversions. All our tax returns are packed and sealed away for the move. Everything is a blur. Forget my husband. He is out of it altogether in this area so no help from him.

    I have a massive headache now. I do remember our FA telling me last spring that probably the best solution would be to just do the RMI.

    I am not sure what you mean by additional premium payment vs. share of cost.

    I did put in different numbers in terms of income for the subsidies. Looks like i could save maybe $200- $300 per month- but the plans look like HMO's. Still no small chunk of change. So we are talking something like $345 instead of $545 or something like that let's just say. So $4140 for the year vs. $6540 for the Cobra or retiree plan maybe. Or if we show really little income- like $25,000 or less- than it would be nothing. But then you have the who takes this insurance factor also.
     
    Last edited: Oct 16, 2019
  3. VacationForever

    VacationForever Tug Review Crew: Rookie TUG Member

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    You can ask your FA to do all these for you. Just show him my posts.

    Premium is what you pay each month for health insurance coverage. Share of cost in the context of ACA is for yearly maximum out of pocket including any deductibles. You said you paid alot for colonoscopies. Every dollar you pay for medications, deductibles and copays count towards yearly maximum out of pocket. With my maximum subsidies, my max out of pocket in that year was capped at $850.
     
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  4. Talent312

    Talent312 Tug Review Crew: Rookie TUG Member

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    When I enroll in Medicare (early next year)...

    I can stay on my employee/retiree plan. It becomes secondary with a lower premium.
    But a Medigap Plan G & Plan D (+drug costs) would cost about $1200/year less.

    One my drugs (a brand name) costs $240 with the group plan and $1200 w/Part D.
    But the employee/retiree plan is still $1200/year more expensive.

    At least I still have a few more months to ponder.
    .
     
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  5. mpumilia

    mpumilia TUG Review Crew: Veteran TUG Member

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    I do not think it is that simple. We first of will be in a middle of moving and all the stress and logistics and work that it entails. I can see it as a major headache. You still have to evaluate the plans and so on. Every state is different. I already am not finding it easy just looking at the NYS plans on line. I put in, for example, a $40,000 per year income and it said maximum out of pocket $6500. The premiums would vary for $20 to $200 per month depending on the Bronze plan. If I put in a lower income it says call as might qualify for very low or no cost coverage.

    I just don't get it.
     
    Last edited: Oct 16, 2019
  6. VacationForever

    VacationForever Tug Review Crew: Rookie TUG Member

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    If you put in something like $24K you will see a huge difference. The question is whether your 2020 income will be close to that number. Your FA should be able to help you.
     
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  7. mpumilia

    mpumilia TUG Review Crew: Veteran TUG Member

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    Yes- When I put in a figure like that it says to call because may qualify for low or no cost rates. Doesn't bring up rates.

    None of the Silver or Gold plans seem to cover out of network I noticed.
     
    Last edited: Oct 16, 2019
  8. VacationForever

    VacationForever Tug Review Crew: Rookie TUG Member

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    If you put in so low that it falls into Medicaid, that is what the message is. Try bumping it to $27K or so. Do you need out of network? You will simply have to redo when you move to NH due to life change event. $24K was what I had used for 2017 but poverty level is adjusted each year and I have not spent anytime to look at 2019 as ACA is no longer of use to me.
     
  9. mpumilia

    mpumilia TUG Review Crew: Veteran TUG Member

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    I had to bump it to $35,000 to get rates. I wanted out of network option just in case, but they don't seem to have that. This is what I mean- not simple. I have been on line on the NYS site comparing and ugh..
     
  10. mpumilia

    mpumilia TUG Review Crew: Veteran TUG Member

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    Should my husband choose part F or Part G? He is eligible for Part F but I keep hearing about rising premiums....

    And what is a good Part D plan., I am very confused with the prescription plans.What is this $435 deductible? Crazy...
     
    Last edited: Oct 30, 2019
  11. simpsontruckdriver

    simpsontruckdriver Guest

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    Part-G, since Part-F will no longer be available on January 1st. They do have a High-Deductible Plan-F, where the person pays "Basic Medicare" deductibles + 20% up to the plan's deductible, which is around $2300. If the person hits that deductible, the rest is $0.
     
    Last edited: Oct 30, 2019
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  12. bogey21

    bogey21 TUG Member

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    My recollection is that the deductible on my High Deductible Plan F is something South of $3,000. I'm a little fuzzy on the exact amount as my health is good and the amounts I pay out of pocket are so small it never comes into play for me...

    George
     
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  13. simpsontruckdriver

    simpsontruckdriver Guest

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    Essentially, health is the biggest factor with MediGap plans. Very healthy? Plan-HDF (High-Deductible F). Health issues requiring more than one doctor/specialist/diagnostics per year? Plan-G. The easiest way to get up-to-date numbers is to talk to an agent or call United Healthcare, as they are the nation's largest MediGap provider.

    TS
     
    Last edited: Oct 30, 2019
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  14. mpumilia

    mpumilia TUG Review Crew: Veteran TUG Member

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    Since my husband was eligible for Medicare Part A in 2019 he is eligible to enroll in Part F - the regular one or the high deductible one-for 2020.
     
  15. mpumilia

    mpumilia TUG Review Crew: Veteran TUG Member

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    You are right, George. It is $2300.
     
  16. simpsontruckdriver

    simpsontruckdriver Guest

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    If he is eligible, again, it is what you can afford. Deductible or not. All MediGap providers like United offer the same plans and deductibles, premiums and extras vary. Since rarely do I get anyone interested in MediGap plans, my numbers could be off so I changed them above.

    TS
     
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  17. mpumilia

    mpumilia TUG Review Crew: Veteran TUG Member

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    My husband's health is good right now thankfully. The only difference with G is the Part B deductible $185 outlay, but the premiums are similar. Hey- $185 is $185. I am just not sure what to do because people keep saying that the F premiums are going to rise over time and so forth.

    G premium is $210 per month and F is $230. Both Empire. I guess either way- the F you lay out $20 more per month for the premium. With G you lay out up to about $15 per month for the deductible IF you use it.

    Then again, I assume the Part B deductible can go up?
     
    Last edited: Oct 30, 2019
  18. mpumilia

    mpumilia TUG Review Crew: Veteran TUG Member

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    Looking at these Part D plans is crazy. Ok, so you know what drugs you are currently on, but you have no way of knowing what you COULD be on in the future. So how can you really compare plans other than looking at the deductible and copays and pharmacies and mail order? So I am assuming if you are ok with those, then choosing the cheapest option is the best?

    To think- we will be moving early in the beginning of the year and have to immediately change these again. Has to be a better way usa.....
     
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  19. simpsontruckdriver

    simpsontruckdriver Guest

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    Nope, all Medicare insurers have different plans for every zip code in the USA. So, if a person moves within their zip code, they do not have to change plans. Moving outside usually requires a new plan. With Medicare Supplements, you can keep your plan BUT the premiums may change. And depending on your state, your premiums are either fixed at when you first sign up or rise based on age. Florida is one that is fixed based on age. If a Floridian signs up for a MedSupp at 65 and keeps it for a decade, premiums won't go up much (any premium rise must be given the OK by the state legislature). In some states, premiums rise yearly.

    In terms of Part-D plans, other than varying by zip code, you can estimate current drug costs, and future drug costs, based on levels. For example, if you develop something, you should start out on a generic if available. A lot of times, if a doctor prescribes a name-brand drug, the drug maker gives them a commission/kickback. If you develop cancer, since most chemotherapy is done in-office, those are always 20% (Part-B). So, once you get your new plan materials, save it and keep it handy until you change plans.

    TS
     
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  20. mpumilia

    mpumilia TUG Review Crew: Veteran TUG Member

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    Good to know about the fixed premiums. So then, if one is lucky enough to be in a state that has fixed premiums, there should be no concerns about Part F premiums skyrocketing? I have to check into this for NY and New Hampshire.

    So I guess the plans that are community rates are obviously not one of those and the ones we are looking at right now in NY are community rated.

    Goes to show ya- things are more involved than they seem.
     
    Last edited: Oct 31, 2019
  21. mpumilia

    mpumilia TUG Review Crew: Veteran TUG Member

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  22. mpumilia

    mpumilia TUG Review Crew: Veteran TUG Member

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    George- I am curious, other than the lower premiums, what was your thinking in choosing High deductible F over regular F or G?
     
  23. bogey21

    bogey21 TUG Member

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    Pretty much it is simple math. First, I am healthy and have few medical bills. The small amounts I have to pay above what Simple Medicare pays (because I have a High Deductible Plan F) when added up are less that the premium difference between Regular Plan F and High Deductible Plan F times 12...

    George
     
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  24. mpumilia

    mpumilia TUG Review Crew: Veteran TUG Member

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    So a gamble that you remain healthy for most of your life and save on the premiums. I understand. I was considering it for my husband, but that $2300 deductible bothers me. Plus, they could increase the deductible over time?
     
  25. simpsontruckdriver

    simpsontruckdriver Guest

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    With Medicare Supplements, yes, premiums and deductibles can go up, but state legislature must approve it. I know you've heard of your electric company or other utility company asking your state legislature to raise rates. It's the same thing, MediGap companies must ask the state to raise rates/deductibles. Medicare Supplements are regulated by your state, while Medicare Advantage Plans (with/without drugs) are regulated by Centers for Medicare and Medicaid Services (CMS - aka "Medicare").

    TS
     

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