Advice on Which Medigap/Suplemental Policy to Get?

PSUGuy

Bill From PA
Joined
Jan 21, 2009
Wifey and I will be retiring sometime early 2019, date to be determined. Looking forward to more Disney and other trips and we intend to spend the entire month of Feb in Fla but before the fun we have some decisions to make. We'll need a Medicare supplemental plan and it all seems pretty confusing. We'd welcome advice from those who have gone through this. As I understand it the plans have letters of the alphabet for names and it appears that Plans F and G are popular. Also the state one lives in matters. We've got time before we decide but we want to have the info in advance. Our preference would be for a plan with little or no co-pay and I realize such would have higher premiums.

Thanks in advance for any insight offered.

Bill From PA
 
Where I work our health insurance plan has a free service where someone will sit down with you and go through all the plans. One of the benefits for people retiring from the company.

If you belong to AARP they also have a similar service which my parents have used in the past. Their insurance agent for their house and cars also offers this service too.
 
If you belong to AARP they also have a similar service which my parents have used in the past. Their insurance agent for their house and cars also offers this service too.

We are AARP members, thanks for this and we'll peruse this.

Bill From PA
 
you can also see if you've got a program through your local ombudsman that helps navigate this. our local was a godsend b/c they knew EXACTLY which plans covered which providers in our area.

p.s. the latest aarp 'bulletin' (mailer magazine) has a great article that talks about changes in the medicare/supplement rules. check it out b/c i guess there is going to be more flexibility in trying out a supplemental program and changing if it's a bad fit.
 


When I got my insurance, I found a reputable, recommended local insurance man who reviewed and explained the offers out there. There are a lot and they can be confusing. I would go with a local businessman who someone you know has had a good experience with.
 


If you are at all thinking about changing your state of residence be aware how very different the premiums can be from state to state. We have homes in two states - I changed my residence to Louisiana as my supplemental plan is SO much better here.

I use a Humana Advantage Plan. I pay zero premiums, $25 specialist co-pay, zero co-pay for primary care physician, plus I get a $20 a month allowance to spend on OTC items (which even includes toothpaste and dental floss). The closest plan in Arkansas would cost me thousands of dollars more in co-pays and premiums.
 
Thanks for all the informative input. Except for spending the month of Feb in Fla we'll be Pa residents for life (probably!).

Bill From PA
 
I'm a few years away from this, so I haven't really researched it in depth. What I see at work, though, is patients with certain Medicare plans fare much better than others. I think the supplemental plans are better than the advantage plans, though it's possible what I've seen with certain companies limiting payments is regional. What I see is the people in the managed plans (which I think are Medicare Advantage) getting cut off from therapy before their therapists think they are ready or even fit to discharge. As always with insurance, it's not only what you pay in but what the companies are willing to pay out when a claim is made that matters.
 
This was all so confusing to me. DH won't be 65 until July 2019, so I still have full BCBS Federal as a back up for me and insurance for him. Expensive to have both! I can choose a Medigap plan for us after that, but do have the option of getting retired Federal again if something happens to Medicare. Huge relief there.
 
Wifey and I will be retiring sometime early 2019, date to be determined. Looking forward to more Disney and other trips and we intend to spend the entire month of Feb in Fla but before the fun we have some decisions to make. We'll need a Medicare supplemental plan and it all seems pretty confusing. We'd welcome advice from those who have gone through this. As I understand it the plans have letters of the alphabet for names and it appears that Plans F and G are popular. Also the state one lives in matters. We've got time before we decide but we want to have the info in advance. Our preference would be for a plan with little or no co-pay and I realize such would have higher premiums.

Thanks in advance for any insight offered.

Bill From PA
Good for you, Bill. Retirement, well deserved for you both.

This is a pretty good basic explanation of the items you should become familiar with. It is from Medicare and written it pretty simple language so most people can understand it. It can be complicated.

https://www.medicare.gov/sites/default/files/2018-07/02110-medicare-medigap.guide_.pdf

Speaking of Medicare parts, they are parts A (hospital), B (doctors) and D (prescription meds). There is also a C, which is like a Medicare HMO. Medigap plans run from A to N (with some letters missing, for who knows why) and provide various supplemental levels covering Medicare's deductibles and coinsurance for Medicare parts A and B. You always have to keep parts and plans separate in your head.

Plans F and G are the most comprehensive and are the most commonly purchased plans. The difference between plans F and G is that G does not pay the part B annual deductible. However, the annual premium savings of G over F is typically more than the part B deductible that is not covered. For most people, G is the more frequent choice. One caveat on Medigap policies is that the benefits of any Medigap policy (letter to letter) are the same regardless what insurance company it is purchased from. And that is a good thing. Premiums will vary, albeit generally a small amount, and service from one company to another may vary, but the benefits for a given plan letter will be the same, company to company.

Part D, as said, covers Rx's. Not as simple (if you thought the above was simple) as Medigap coverage. Benefits, deductibles, co-insurance, covered drugs, as well as premiums, vary from company to company. And they can and do change every year. The best recommendation for part D is to go online to the Medicare website, part D area. Put in the information requested...name, SS#, birthdate, zipcode, and a list of any meds currently being taken or anticipated to be taken in the coming year. The website will rank all the plans in your area, including medicines that will actually covered, generic alternatives (if any), premiums, deductibles, co-insurances and doughnut hole coverage. Doughnut hole coverage levels, or lack of it, is for another thread. This exercise for part D should be done every year during open enrollment time (generally Oct/Nov). All of those items can change every year and where you might have the best plans for you and wifey (I always get a kick out of your term there, Bill, 'wifey' :laughing: ) one year, it may not be the next. And the two of you may well have different plans D's depending on medications each of you may take year to year.

The whole Medicare process can be a bit of a task to work through, but it needs to be done. Hope this helps some, Bill.


PS:We still have to tip a few pints at Rose and Crown. :drinking1

(not to be taken as financial or insurance advice)
 
Thanks for that explanation, Dan. My DH will turn 65 next year and we will also be looking into this after the first of the year (I am 8 years younger so it's just him for now). It does seem to be a confusing process, and we are planning to relocate in a few years.

(You may get a kick out of the term wifey, but I cringe every time I read it!)
 
PS:We still have to tip a few pints at Rose and Crown. :drinking1

I appreciate all those who took the time to offer input and advice, thanks for the War&Peace version, Dan! Once we're not wage slaves anymore we'll be getting to WDW more often and at different times of the year. Our visits haven't overlapped yet but I'd like to hoist a few if we're ever there at the same time. Next scheduled trip, this Oct 18 -26 inclusive.

Bill From PA
 
Part D, as said, covers Rx's. Not as simple (if you thought the above was simple) as Medigap coverage. Benefits, deductibles, co-insurance, covered drugs, as well as premiums, vary from company to company. And they can and do change every year. The best recommendation for part D is to go online to the Medicare website, part D area. Put in the information requested...name, SS#, birthdate, zipcode, and a list of any meds currently being taken or anticipated to be taken in the coming year. The website will rank all the plans in your area, including medicines that will actually covered, generic alternatives (if any), premiums, deductibles, co-insurances and doughnut hole coverage. Doughnut hole coverage levels, or lack of it, is for another thread. This exercise for part D should be done every year during open enrollment time (generally Oct/Nov). All of those items can change every year and where you might have the best plans for you and wifey (I always get a kick out of your term there, Bill, 'wifey' :laughing: ) one year, it may not be the next. And the two of you may well have different plans D's depending on medications each of you may take year to year.

The whole Medicare process can be a bit of a task to work through, but it needs to be done. Hope this helps some, Bill.

And regarding Part D, don't think your task is finally done after you wade all through and select one. As I was warned and just found out the hard way, things change year-to-year, policys and/or meds you take, so you may have to change AGAIN. That's what I'm going through right now. My Prescription Plan is making changes and I added another med, which my policy charges $30 for, so I'm back to square one-looking and comparing again.
 
And regarding Part D, don't think your task is finally done after you wade all through and select one. As I was warned and just found out the hard way, things change year-to-year, policys and/or meds you take, so you may have to change AGAIN. That's what I'm going through right now. My Prescription Plan is making changes and I added another med, which my policy charges $30 for, so I'm back to square one-looking and comparing again.
Yes, it is an every year thing with Part D, Dorothy. Meds taken change and the plans change, sometimes significantly, sometimes for the good, other times the bad. That's why I said what I did above, and it can be a pain to do it, but everyone should do it.

This exercise for part D should be done every year during open enrollment time (generally Oct/Nov). All of those items can change every year and where you might have the best plans for you...one year, it may not be the next. And the two of you may well have different plans D's depending on medications each of you may take year to year.
 

This exercise for part D should be done every year during open enrollment time (generally Oct/Nov). All of those items can change every year and where you might have the best plans for you...one year, it may not be the next. And the two of you may well have different plans D's depending on medications each of you may take year to year.

Sorry, Dan-I missed that.
 

GET A DISNEY VACATION QUOTE

Dreams Unlimited Travel is committed to providing you with the very best vacation planning experience possible. Our Vacation Planners are experts and will share their honest advice to help you have a magical vacation.

Let us help you with your next Disney Vacation!






Top