Medicare and Plan F and/or High Deductible

[VoiceofReason]

I just retired last month and started trying to make sense of the Medicare part A,B,C,D and the rest of the alphabet. I was good at what I did to make a living for myself and my family but am a real dummy figuring things like this out. I will tell you what I have found out and maybe a little of it will help you or someone else.

I retired and signed up for Medicare at 66. I had heard that if you don’t sign up for part A at 65, you have to pay a penalty. I did a little searching and found out that if you have health insurance with your employer, you don’t pay that penalty. When I signed up they gave me a form to have my employer sign that stated I had health insurance with them. No problem, no penalty. I know you said you didn’t have insurance but this bit of info is for those that do.

I was thinking about keeping the insurance I had with my employer (Blue Cross and Blue Shield) but everyone told me it would be expensive as I would have to pay the entire premium including what my employer paid. I found out that wasn’t the case. I could continue Blue Cross and Blue Shield and just keep paying my share. My share is still somewhat expensive but without it I would still have had to get part C and part D. In the long term, what I save, and the fact, the wife and I will have excellent insurance will be worth the extra.

Blue Cross and Blue Shield will pay what Medicare doesn’t. I have no co-pay when I see a doctor or go to the hospital and I don’t pay a yearly deductible for myself or my wife.

I believe I read that Medicare doesn’t pay if you are out of the U.S. but Blue Cross and Blue Shield is accepted in quite a few countries. Good to know if you go hunting or fishing in Canada or take a cruise and get injured or sick in Mexico.

Be careful getting insurance as cheap as you can. You could suddenly become ill or get injured and find out that cheap insurance wasn’t so cheap. I had an injury and have had four back surgeries. I now have a chronic condition and if it weren’t for Blue Cross and Blue Shield I would have been bankrupt a couple of times over.

If you would like, as I learn more, I will send you a PM in case it applies.

Good luck.

[RPB]

My dad had "regular" Medicare A and B plus Insurance from BC/bull through phone company retirement and rarely had to pay anything after they both paid, but there was a deductible to meet and so he'd pay the doctor $3.00 and some ambulance bills etc.
The Max Out of Pocket for those "major problem" events is all that concerns me.
I really don't mind paying $150 to see a doctor once a year, but it gets to a point where being insured is better than not in case of major events, because it's time to also see about getting some of those screenings and specialists visits to check this mole and that and stuff, and around here they try to fix something whether it's broke or not, and often "cure you to death."

[jimlongley]

I just retired last month and started trying to make sense of the Medicare part A,B,C,D and the rest of the alphabet. I was good at what I did to make a living for myself and my family but am a real dummy figuring things like this out. I will tell you what I have found out and maybe a little of it will help you or someone else.

I retired and signed up for Medicare at 66. I had heard that if you don’t sign up for part A at 65, you have to pay a penalty. I did a little searching and found out that if you have health insurance with your employer, you don’t pay that penalty. When I signed up they gave me a form to have my employer sign that stated I had health insurance with them. No problem, no penalty. I know you said you didn’t have insurance but this bit of info is for those that do.

I was thinking about keeping the insurance I had with my employer (Blue Cross and Blue Shield) but everyone told me it would be expensive as I would have to pay the entire premium including what my employer paid. I found out that wasn’t the case. I could continue Blue Cross and Blue Shield and just keep paying my share. My share is still somewhat expensive but without it I would still have had to get part C and part D. In the long term, what I save, and the fact, the wife and I will have excellent insurance will be worth the extra.

Blue Cross and Blue Shield will pay what Medicare doesn’t. I have no co-pay when I see a doctor or go to the hospital and I don’t pay a yearly deductible for myself or my wife.

I believe I read that Medicare doesn’t pay if you are out of the U.S. but Blue Cross and Blue Shield is accepted in quite a few countries. Good to know if you go hunting or fishing in Canada or take a cruise and get injured or sick in Mexico.

Be careful getting insurance as cheap as you can. You could suddenly become ill or get injured and find out that cheap insurance wasn’t so cheap. I had an injury and have had four back surgeries. I now have a chronic condition and if it weren’t for Blue Cross and Blue Shield I would have been bankrupt a couple of times over.

If you would like, as I learn more, I will send you a PM in case it applies.

Good luck.

I was not given the option, my company insurance (I am already retired but retained my company coverage) was canceled THE MONTH BEFORE my 65th birthday, by the insurance company, not by me, and with no notice that they were doing so.

[sjfcontrol]

My dad had "regular" Medicare A and B plus Insurance from BC/bull through phone company retirement and rarely had to pay anything after they both paid, but there was a deductible to meet and so he'd pay the doctor $3.00 and some ambulance bills etc.

Does anybody else find it ironic that the editor 'nanny' changes the initials for "Blue Cross/Blue Shield" to BC/bull?

[VoiceofReason]

My dad had "regular" Medicare A and B plus Insurance from BC/bull through phone company retirement and rarely had to pay anything after they both paid, but there was a deductible to meet and so he'd pay the doctor $3.00 and some ambulance bills etc.

Does anybody else find it ironic that the editor 'nanny' changes the initials for "Blue Cross/Blue Shield" to BC/bull?

Found that out when I previewed my post. Thats why I went back and changed them all to Blue Cross/Blue Shield. Although sometimes I get so frustrated BC/bull might be a better fit.

[VoiceofReason]

I just retired last month and started trying to make sense of the Medicare part A,B,C,D and the rest of the alphabet. I was good at what I did to make a living for myself and my family but am a real dummy figuring things like this out. I will tell you what I have found out and maybe a little of it will help you or someone else.

I retired and signed up for Medicare at 66. I had heard that if you don’t sign up for part A at 65, you have to pay a penalty. I did a little searching and found out that if you have health insurance with your employer, you don’t pay that penalty. When I signed up they gave me a form to have my employer sign that stated I had health insurance with them. No problem, no penalty. I know you said you didn’t have insurance but this bit of info is for those that do.

I was thinking about keeping the insurance I had with my employer (Blue Cross and Blue Shield) but everyone told me it would be expensive as I would have to pay the entire premium including what my employer paid. I found out that wasn’t the case. I could continue Blue Cross and Blue Shield and just keep paying my share. My share is still somewhat expensive but without it I would still have had to get part C and part D. In the long term, what I save, and the fact, the wife and I will have excellent insurance will be worth the extra.

Blue Cross and Blue Shield will pay what Medicare doesn’t. I have no co-pay when I see a doctor or go to the hospital and I don’t pay a yearly deductible for myself or my wife.

I believe I read that Medicare doesn’t pay if you are out of the U.S. but Blue Cross and Blue Shield is accepted in quite a few countries. Good to know if you go hunting or fishing in Canada or take a cruise and get injured or sick in Mexico.

Be careful getting insurance as cheap as you can. You could suddenly become ill or get injured and find out that cheap insurance wasn’t so cheap. I had an injury and have had four back surgeries. I now have a chronic condition and if it weren’t for Blue Cross and Blue Shield I would have been bankrupt a couple of times over.

If you would like, as I learn more, I will send you a PM in case it applies.

Good luck.

I was not given the option, my company insurance (I am already retired but retained my company coverage) was canceled THE MONTH BEFORE my 65th birthday, by the insurance company, not by me, and with no notice that they were doing so.

Jim,
Did you check to find out if they could do that per the contract? I don’t believe they could do that to me (I am 66) because of the contract my employer has with them. I think the only way would be if I dropped them then they could refuse to pick me back up. Also when I die they will drop my wife.

[VoiceofReason]

My dad had "regular" Medicare A and B plus Insurance from BC/bull through phone company retirement and rarely had to pay anything after they both paid, but there was a deductible to meet and so he'd pay the doctor $3.00 and some ambulance bills etc.
The Max Out of Pocket for those "major problem" events is all that concerns me.
I really don't mind paying $150 to see a doctor once a year, but it gets to a point where being insured is better than not in case of major events, because it's time to also see about getting some of those screenings and specialists visits to check this mole and that and stuff, and around here they try to fix something whether it's broke or not, and often "cure you to death."

I have always gone by “you get what you pay for (hopefully)”.

I probably could have gotten cheaper insurance under Medicare but then I would have worried that my wife or I might get badly injured or real sick and the insurance company would leave me with outlandish medical bills they wouldn’t pay.

BC&bull
BC&bull
BC&bull
BC&bull
I love it, wha, ha, ha, ha, ha,

[RPB]

Irony
I went 20 years not needing a doctor, I go once a year to get a blood pressure refill now.
So my brand new Humana Medicare Advantage Plan now calls me often, to
advise mt I get "points" if I can see 5 doctors in the next 90 days or so"
Explain all their services
Offer new optional services
and
Remind me they'll pay for a health club membership through Silver Sneakers

While rushing to answer the phone this morning, I broke a toe.
I broke a toe as a teen, they X-rayed told me it was broken and taped it to other toes.
I got my tape and taped it up.
Like Grandad always said "See a doctor and he'll get it well in just 2 months, if you don't. it''l take a whole 60 days to heal"
It's a pretty shade of purple.
They deduct over $100 a month for my Part B/Advantage plan I got so I wouldn't pay an Obama Tax/fine for being uninsured.
It's only $30.00 copay for the Emergency room ... but ...
I have lots of tape.
They can talk to my answering machine now, my toe hurts so I won't answer them.

[Abraham]

In my quest to find the best plan for me, I'm now advised the Advantage type plans, HMO's/PPO's and so forth are the ones that will be hardest hit by Obama's raid on Medicare.

Thus, Plan F supplement is once again looking like the best way to to. It is the costliest of the supplements, but may not be so if out of pocket expenses are high per a given situation. As an example, I was advised if one has to get a lot of chemo treatments - you're responsible for the 20% of their cost if on an HMO. That 20% could add up very quickly. With Plan F you are totally covered - No out of pocket cost whatsoever. That sounds like piece of mind to me.

Plan F covers ALL costs that Medicare doesn't. One man I know told me has Plan F and since he's been on it, he's had three major operations, one being a hip replacement. He said he never received a single bill for any of the costs. By the way, he sells car and home insurance, but not Medicare. Since he's in the insurance business and he obviously thinks Plan F is THE way to go, I'm going to listen to him.

So far, the various insurance Plan F supplements I've looked into cost in the neighborhood of $165.00 a month, irrespective of which insurance company. They pretty much all want about this amount though I haven't given up on looking for a lower monthly cost, but so far that's the ball park cost. Whenever I do make my choice of insurance companies it won't be some unknown for a low premium. I want at least an A+ rated company. Going for a low premium with a lowly rated company isn't for me, but I digress...

Plan F high deductible is a lot cheaper than straight Plan F, but I was advised that most who get on it soon want to get on straight Plan F (if you will) as most in their sixties don't typically remain completely healthy and soon find the high deductible a burden.

If any of you have been on an HMO plan and switched over to Plan F - which do you find best?

Or, Plan F to an HMO?

And thanks again everyone - all your responses are helpful in this important decision making process.

[JALLEN]

In my quest to find the best plan for me, I'm now advised the Advantage type plans, HMO's/PPO's and so forth are the ones that will be hardest hit by Obama's raid on Medicare.

Thus, Plan F supplement is once again looking like the best way to to. It is the costliest of the supplements, but may not be so if out of pocket expenses are high per a given situation. As an example, I was advised if one has to get a lot of chemo treatments - you're responsible for the 20% of their cost if on an HMO. That 20% could add up very quickly. With Plan F you are totally covered - No out of pocket cost whatsoever. That sounds like piece of mind to me.

Plan F covers ALL costs that Medicare doesn't. One man I know told me has Plan F and since he's been on it, he's had three major operations, one being a hip replacement. He said he never received a single bill for any of the costs. By the way, he sells car and home insurance, but not Medicare. Since he's in the insurance business and he obviously thinks Plan F is THE way to go, I'm going to listen to him.

So far, the various insurance Plan F supplements I've looked into cost in the neighborhood of $165.00 a month, irrespective of which insurance company. They pretty much all want about this amount though I haven't given up on looking for a lower monthly cost, but so far that's the ball park cost. Whenever I do make my choice of insurance companies it won't be some unknown for a low premium. I want at least an A+ rated company. Going for a low premium with a lowly rated company isn't for me, but I digress...

Plan F high deductible is a lot cheaper than straight Plan F, but I was advised that most who get on it soon want to get on straight Plan F (if you will) as most in their sixties don't typically remain completely healthy and soon find the high deductible a burden.

If any of you have been on an HMO plan and switched over to Plan F - which do you find best?

Or, Plan F to an HMO?

And thanks again everyone - all your responses are helpful in this important decision making process.

I'm not in the insurance business and am as mystified by all the choices, variations, combinations, costs and benefits as you or anyone else, but I've been on Medicare A and B plus an Plan F for nearly 2 years. My insurance fellow recommended Blue Cross/Blue Shield for the Plan F. The company pays for all of it. I selected a drug plan from a bewildering array of choices, based on the medicines I was prescribed to take, for the lowest over all cost.

I have pulmonary fibrosis, which receives regular monitoring, tests, scans, etc, even though there is neither treatment nor cure at the moment, have had a crushed vertebrae ending up hospitalized for several days plus follow ups, a couple of sets of broken ribs, now some sort of shoulder/arm issue presently being treated, and I have yet to pay a dime for any of this, no co-pays, etc. The only thing I pay for is the tip I give the valet fellow at the hospital when I go in for testing, and he parks my car.

[Abraham]

JALLEN,

Thanks for your response!

I forgot about discussing the need for that other supplement - that being the drug plan. A Humana rep absolutely assured me theirs is the lowest cost on the market. Maybe...we'll see after I've researched a bit more.

It's my understanding if you don't really need a drug plan, it's still a good idea to get one as soon as you're eligible. Why? Cuz, later when you're even more of a geezer, the chances increase with you needing to take a boatload of meds and if you didn't get on a drug plan early on, the penalty can be dreadfully high.

Your experience with Plan F (which sounds like the title of a cheesy 50's Sci-Fi movie...) mirrors others who've discussed it with me. If you have a medical need there will be no out of pocket expense. No co-pays, deductibles, or other charges. This plan sounds mighty appealing to me and potentially lower in overall cost if medically speaking things go really awry...

[JALLEN]

JALLEN,

Thanks for your response!

It's my understanding if you don't really need a drug plan, it's still a good idea to get one as soon as you're eligible. Why? Cuz, later when you're even more of a geezer, the chances increase with you needing to take a boatload of meds and if you didn't get on a drug plan early on, the penalty can be dreadfully high.

Glad to help.

The drug plan is very peculiar. There are zillions of them. There is a website that you can go to and enter the med's you are currently taking, and once entered will give you a list of the lowest cost providers for THOSE medications. If you add meds or stop taking some, you can switch plans, perhaps in some "window" etc. The site is http://www.medicare.gov" onclick="window.open(this.href);return false;.