Medicare Coverage Starts Tomorrow

[ProfessorGAC]

My current healthcare plan is programmed to expire at 11:59:59pm tonight.
Then Medicare, a supplemental, & a Part D plan kick in.
I have to pay an extra $59 per month out of social security due to total income, but even with that my monthly bill for this goes down $880 each month.
Single, private coverage is really steep!
No plans for the extra cash. Just going to let it sit in the bank.

[redwitch]

1. For me too!

But I won’t be able to stockpile much cash I will have much better insurance!

[Elessar Zappa]

2. Damn, you were paying $880?

That sounds really expensive. When I was working I only paid $80 monthly for good insurance. Of course I was with a company that picked up a large portion but I still don’t think it was over $400.

[ProfessorGAC]

6. Um, Not Quite

I was paying over $1,300. The difference between what that costs and all the coverage I described is $880+.
I've been retired nearly 3 years, so I was paying full freight on my healthcare coverage.
18 months of cobra, 16 months of private plan. Cobra was over $500 cheaper.
I went from $780 for 12 months, to $805 for 6 months. Then, went to personal plan. $1,260 per month for 12 months, went to $1,345.
When I was working, my contribution was under 7% of the group plan premium. The company paid the rest.
Was a known issue upon retirement, but I was ready to retire & wasn't waiting until age 65.

[IcyPeas]

7. Only in america

[Elessar Zappa]

8. It's ridiculous that medical insurance

is so damn expensive in this country. I knew it was bad but damn. Glad you’re on Medicare now and able to save all those Benjamins!

[MiniMe]

15. Sounds about the same as my costs. Ugh

[KentuckyWoman]

12. Yeah I thought the same.

Glad for the explain.

[msongs]

3. if u can get a medicare advantage type plan for an extro $100 or so its worth it nt

[ProfessorGAC]

9. The Supplemental Is A Better Deal For Me

Costs a bit more, but much broader network & much better coverage out of network, just in case.
The offer a supplemental Plus plan, but the biggest benefit is eyeglasses & dental add in. But, our dentist (2 blocks away) only accepts Delta, and we already have a fairly priced plan.
I don't need expensive glasses so Physician's Direct is fine.
I'm just carrying those plans forward. (Those cover my wife too.)
Everything is BCBS. Same as my wife.
Overall, with Medicare & the supplemental, copays, deductible, and max out of pocket are all lower than what I had. I had a plan on the cusp between silver & gold. It was described as silver plus, or something.
I already changed everything at the pharmacy. Don't see doctor until end of December, though. I'll worry about the insurance change then.

[Ron Green]

4. One risk pool is a health care system. Multiple risk pools is an investment scheme.

We have enough investment schemes in this country; we need a health care system.

We are so accustomed to the shell game that’s passed of as the American health care “system” that we’re thankful for crumbs when they fall in our direction.

[OAITW r.2.0]

10. Agree!

Well said.

[blm]

5. 👏🏽👏🏽

[multigraincracker]

11. I had really good private insurance, but

it was routine for them to always deny everything until I jumped through their hoops. Now with MC and my old company as secondary, I never have that problem.

[Freddie]

14. Happy Birthday!

I’m the exact same age (month at least) - my Part A starts tomorrow. I am extremely privileged that my spouse has a great and affordable plan through his work and I’m just staying on his and opting out of Part B for now. Til DH retires in 1 year 10 months (he’s not counting the days or anything…).

[dflprincess]

16. I'm in the opposite situation

I've had Medicare A for three years but I'm still working so I'm still on my employer's plan. The plan I have is one few people get anymore. No deductible and a max out of pocket of $2,500 (co-pays get applied to that). Combined what I pay for medical & dental costs me less than what just Medicare B will & it's better coverage. Then toss in the supplements for dental and prescription coverage and I'm way in the hole (and I have decided a supplement beats Medicare Advantage).

Let's hope Congress manages to pass the second infrastructure bill as that will expand Medicare to include dental, vison, and hearing.