which insurance plan to chose ?

[Tinhack]

I dislike HMOs. I wouldn't go that route again. I had a bad experience with just a cut on my hand. I'm on straight Medicare A&B. My drug costs are about $50 a month for my arthritis. The quote I got from BCBS was around $3600 a year with a $3000 per year deductible. A few years ago, I had a bleeding stomach ulcer and a heart attack. Spent 11 days in a well-known premium hospital. I paid $400 extra for the ride to the ER there in an ambulance (long distance). I came out with a repaired stomach and a replaced aortic heart valve. My total portion with Medicare was about $3600 for the ulcer and open-heart surgery. That was in 2018. I've been banking that BCBS premium and living the life since. As has been mentioned on the board before, I hope the last check I write bounces.

 

[Snobdds]

If you can afford it, get a supplement with plan G.

If you start off with a lower coverage plan, if you ever want the better plan, they would have to underwrite you to get into it. You can always go down in coverage, but it's hard to go up in coverage.

I would stay away from advantage plans.

 

[mjonesnh]

Like you we had lots of questions. We contacted a local agent that I had previous business with. He spent considerable time with us explaining all the different choices available. In the end we chose a medigap plan G with a plan D for our prescriptions. After our part B deductible is paid everything else is covered, so no surprises. No networks to worry about, covers any doctor that accepts medicare

 

[Oaktree]

It is very difficult to understand the options and actual premium costs without consulting an independent agent who specializes in medicare supplement plans. There's a heck of a lot of marketing for advantage plans being affordable or not costing anything, but when you need or want medical care, those plans act like gatekeepers and you may not get the medical services you'd pick for yourself if you had that option.

If you carefully compare coverage and premiums among plans and various companies, there are some significant differences in coverage cost between them.

Well, that could go down as the understatement of the week.

Plain old Medicare's big advantage is that it's accepted pretty much everywhere. IMHO that's about all it's got going for it. Lots of things aren't covered. Most part D (prescription) premiums cost more per month than what the few prescriptions we have would, especially if you use GoodRx or something similar.
Both my wife and I are in reasonably good health (and there are few health problems on either side of our families), and can't see paying $$$ for a policy that pays for things we don't need. Obviously, if you DO have health problems that's probably not the best solution.
We decided to go the advantage route. The only downside we've seen is sometimes limited providers that are part of the plan. I agree that finding the right plan is enough to make your head explode. Our previous plan was discontinued at the end of 2022 and we had to shop for a new one. Man! was that confusing. Widely varying prices for what looked like similar coverage.
I've personally not had good experiences with independent insurance agents, regardless of what it's for.

 

[2manyrocks]

Without a medicare supplement of some sort, there is the risk of running into some very substantial medical bills. An advantage plan is better than no supplement plan at all.

Insurance agents are like anything else. Some good. Some bad. There are agents who specialize in medicare supplement plans who aren't captive to one particular company. They don't really care which plan you pick because they are working with so many people that they probably make a good living regardless. They can't afford to be tied to one company, either, because the company that offers the better deal today may try to more than make up their losses with a large premium increase next year, forcing a change in coverage to another company assuming one isn't stuck in a plan because of a pre-existing condition.

The OP needs to understand that there is no initial underwriting when going into a supplement plan at 65, but if the OP has or develops a serious condition by the time of the next enrollment period, changing plans may require an underwriting evaluation and payment of a potentially higher premium. So don't start off in any plan thinking you can just change it next year because an unexpected illness or accident can change your situation.

One thing that concerns me about the OP's situation is that the OP says he turns 65 next month leaving not much time to figure out what he really needs to do. I spent a few months trying to get answers on my own, but then realized that the supplement companies don't want you to comparison shop and don't make it easy. They just spew out a lot of fluff marketing trying to get you signed up on their plan regardless of whether it actually makes sense in your particular situation. That's when I decided to consult an independent agent who deals with supplements every day. I was able to quickly narrow my choices and make a decision. I don't think I could have done it on my own, and especially not in such a short time frame as the OP is evidently facing.

 

[ljjhouser]

Just a short note. The Medicare IEP - initial enrollment period begins three months before the 1st day of the 65th birthday month, includes the month of the 65 birthday, and ends three months after the month of the 65th birthday. A total of 7 months. Unless the 65 birthday is on the 1st day of the month.

 

[2manyrocks]

If whatever coverage the OP has ends at age 65 and no supplement is in place when that happens, there is a potential gap in coverage that you really don't want to have happen.

Another thing is to compare the premiums at varying ages between different companies offering competing plans. Future premiums are subject to change, but some companies will charge a lower initial rate at age 65 to get people enrolled in their plan, but try to make it up later with larger premiums at older ages.

 

[kenmac]

Just to clairfy, I turn 65 mid month, so I have been studding the different plans on medicare.gov.
I'm not able to get an F plan which appears have zero out of pocket expense. Looks like I quality for two pretty good plans.. G and N as a sumplement, or zero cost Advantage plan.

Appears from medicare.gov site, that plan G has $226.00 deductable and zero co-pays at a cost (in my area) of $144.00 per mo.

Plan N on the otherhand, has the same #226.00 deductable, co- pays are $20.00 office visits, $50.00 emergency room visit which isn't charged if admitted. at a cost (in my area) of $94.00 per mo.
I'm in pretty good health as is, so this may be a pretty good plan for the monthly preminum, with low out of pocket expense

I have a friend that is on an Advantage plan and he says they can,and do deny some test, such as MRI, CT, etc,.
That doesn't sound very good even though it is at zero preminum.

As someone already mentioned, Advantage is probably better than just plain medicare as it only covers 80%.

Currently, I'm just paying for a private insurance plan, so I don't think I'm going to be kicked off a plan if it takes a little longer to decide. But I have about a month and a half to decide, so I should be good.

I'll probably try to talk to someone that isn't trying to push one brand, like an Independent insurance company. I use an independent with Homeowners, and vehicles.

 

[2manyrocks]

My private medical insurance carrier would have let me stay on their plan at 65, but the premium was through the roof. I think they thought I'd just sign up for their medicare supplement plan, but it became apparent that another company beat them on premiums and offering a greater lifetime maximum benefit, not to mention having better customer service ratings.

Please don't guess at when your present coverage ends or what it might cost.

I suggest speaking with at least two independent agents so you can compare advice to see if they seem to be telling you the same thing or causes you to feel you need to investigate further.

 

[ljjhouser]

Just to clairfy, I turn 65 mid month, so I have been studding the different plans on medicare.gov.
I'm not able to get an F plan which appears have zero out of pocket expense. Looks like I quality for two pretty good plans.. G and N as a sumplement, or zero cost Advantage plan.

Appears from medicare.gov site, that plan G has $226.00 deductable and zero co-pays at a cost (in my area) of $144.00 per mo.

Plan N on the otherhand, has the same #226.00 deductable, co- pays are $20.00 office visits, $50.00 emergency room visit which isn't charged if admitted. at a cost (in my area) of $94.00 per mo.
I'm in pretty good health as is, so this may be a pretty good plan for the monthly preminum, with low out of pocket expense

I have a friend that is on an Advantage plan and he says they can,and do deny some test, such as MRI, CT, etc,.
That doesn't sound very good even though it is at zero preminum.

As someone already mentioned, Advantage is probably better than just plain medicare as it only covers 80%.

Currently, I'm just paying for a private insurance plan, so I don't think I'm going to be kicked off a plan if it takes a little longer to decide. But I have about a month and a half to decide, so I should be good.

I'll probably try to talk to someone that isn't trying to push one brand, like an Independent insurance company. I use an independent with Homeowners, and vehicles.

Good, you are coming along well. Good review of choices. I will add a few comments and notes.
1. You become eligible for Medicare on the first day of the month of your birthday---Unless your birthday is on the first day of the month.
2. When you are in the IEP, you qualify for ALL medicare products. Any supplement, Pt D drug plan or Advantage offered can be purchased.
3, Per an act of Congress, all Medigap F plans were grandfathered in if previously purchased and Plan F was removed from the market. Same is true of Plan C. That is because those two plans paid the Part B (Medical) annual deductible. This changed in JUNE. of 2010.
4. BE AWARE - IF YOU KEEP YOUR COMPANY.INSURANCE PAST THE IEP, YOU BECOME THE "WORKING AGED." WHEN YOU DROP YOUR INSURANCE PLAN AND ENROLL IN PART B, YOU HAVE ENROLLMENT RIGHTS. THAT IS A SEP (SPECIAL ENROLLMENT PERIOD). YOU WILL HAVE EIGHT MONTHS TO ENROLL IN PART B (I THINK) AFTER ENDING YOUR COMPANY PLAN, BUT YOU WILL HAVE ONLY 63 DAYS TO ENROLL IN A SUPPLEMENT PLAN. YOUR CHOICE AND PLAN N WILL NOT BE OFFERED. YOU CANNOT CHOOSE PLAN N AFTER USING YOUR CO PLAN AND ENROLLING IN PT B LATE.

You may want to check this out if you are looking at an N plan (a good choice, in my opinion.)

5. If your company ins. is provided by a co with 20 or less employees, you will want to enroll in Pt B during your IEP. This is because Medicare will be primary payer and your co ins secondary. If you do not have MC Pt B, then Medicare will not pay, and as secondary, your secondary ins may pay little or none of the bill when they find you are eligible for MC.

6. If more than 20, you may delay part B and you ins will pay their commitment. UNLESS you are disabled --then the number is 100 emploees.

Sorry to take so long, just want to caution you about the options relating to working insurance past 65 and Plan N.