I’ve been on standard Medicare with Supplemental since I retired with absolutely no issues. I chose that route vs an Advantage Plan due to an issue with my PPO while employed. I injured my knee and it took 9 months to get approval for a MRI while the PPO pushed me through their std escalation process; GP, x-ray, Orthopedic approval, CT, 4 months of PT, x-ray then finally approval for a MRI. 9 months barely walking until the orthopedic surgeon could get me the MRI just to tell me that I would never walk until I had surgery. 9 months of PPO approvals so I will never let an insurance company determine the course of my treatment again.
I have a Medigap plan N and would not consider an Advantage plan unless I could not afford one financially. My main reasons are because I do not want to hand over my medical decisions to a for profit insurance company (Advantage plan) which will dictate what medical care I will be able to receive and where I will receive it. These plans can, and routinely do, deny care. I want any medical decisions on my care to be made by me and my doctor, not an insurance company who is beholden to shareholders and is only concerned about their own profits. If a specific treatment or procedure is determined by my doctor to be medically necessary, Medicare will cover it and my Medigap plan will pay, no questions asked. However, that is not the case with an Advantage plan, who can refuse to pay, forcing treatment delays or an outright denial for the patient receiving the care they need. The patient is then left in the unfortunate situation of having to go through the appeals process in an effort to get the care they need, or paying for their treatment out of their own pocket.
You make some excellent points about the importance of having control over your own healthcare decisions. Medigap plans certainly provide a level of security and peace of mind for many people. Kai & Ann Chung
@@alfonso1781 You are welcome, and I am so sorry you are having to deal with a denial. My advice to you in this situation is to make the extra effort and appeal the decision, since I think that over 70% of the time, you can win if you stay persistent, assuming you and your doctor are in agreement that your procedure is medically necessary and covered by Medicare.
You appear to be somewhat confused. The companies that offer Medigap coverage are also in business to make a profit for their shareholders - they are not non-profit. According to a study by CMS - the advantage plans are costing the taxpayer much more than Medigap plans. This is because the government pays the advantage plans a certain amount of money every month - regardless of whether the policy holder receives any medical care or not. The advantage plans are currently making many billions of dollars in profits every year. They have essentially zero incentive to pay out on a claim - unlike Medigap plans, whom must pay if Medicare pays.
@@MaryBethMcCoySure have experience here if you want to go that route and have medical procedures delayed for 129 days or more and still be denied it's your life dice to roll. MA policies are a last resort changing every year the control is the insurance company's and not yours so good luck. Just be sure to get a stand alone hospital indemnity policy to cover the deep hole you will drop i😳😳😳😔
@@Dilberts_Dogbert I think you are replying to the wrong comment. I don’t have an MA plan for the reasons you state, along with many others. You may want to read my original post again
I have a Medigap plan F that is community-rated and offers gym membership, 24-hour call a registered nurse service, and discounts on vision and hearing services. I am very happy with my plan and would never even consider changing to a Medicare (Dis)Advantage plan. I don't want a private insurance agency making health care decisions for me or restricting my access to a particular network of doctors. So many doctors and hospitals accept original Medicare without question and then, of course medigap pays its part. As far as medigap costing a little more, I think you have to ask yourself what your priorities are. My priority is "no hassles, no worries" health care. I am willing to drive an older car and make other sacrifices as necessary because my health comes first.
@Dbb277-2 That's why I did not enroll...I would have given a company thousands to pay for my co-pays for the last 3 years. My MA has worked perfect for me
I remember at age 19 driving by the Social Security Office seeing an elderly person going in the building. I smiled and thought "It will be a long time before I have to do that" Fast forward almost 47 years later and I am not smiling anymore. Still working because I want to, not collecting Social Security yet, and started in the company's 401k plan at age 21 because my manager sat me down and talked me into it. That was 1980. He is retired now, but everyday at some point during the day I thank him for it. None of us think about Medicare when we are 19 years old. In all honesty I always thought at 65 we all just went on the same insurance, but it doesn't work like that. Not sure why, just seems like there should be one policy that has it all and we pay the same amount. Ya'll had a similar video like this one a year or so ago and I remember weighing both sides and my thoughts on it. I am half like Ann's mom and half like Kai's mom so it made it harder for me to decide. My thought process was that I felt like my whole life while working I have had an Advantage plan. Never had any major health issues. Pros and Cons on both sides. For me it basically comes down to the Peace of Mind with a Medigap plan. I will be paying as I go so if something major happens there is little out of pocket. It's like having home owners insurance. I don't need it as I have no mortgage but I have it just in case something happens. I don't need a Medigap plan because I am healthy but we all are healthy until we are not. So if something happens I have it covered. Then I am hearing some companies with Advantage plans are pulling out of areas that are not profitable. When I was younger I always thought things would get easier as we aged. I think it was because my grandparents always talked about the golden years. But the reality is there is nothing golden about growing old. Great Video. "The Cajun Ninja's Dad"
It's interesting how our perspectives change over the years! Planning for the future is definitely important, and it's great to hear you made wise choices early on and took the good advice from others. Thanks for sharing your thoughts, very much appreciated 😀
We have a new administration that can't wait to cut social security and raise the age to start collecting social security from 62, to 70. Good luck!🤦♂️😂🤣😅😆
We NEEDED the medigap plan because we traveled seasonally to more than one state. We were out of network for months at a time.. we NEEDED the flexability. Plus.. we needed specalists in other states.. and the idea of having to BEG for out of network servjces care was incredibly unappealing. The freedom to chose. for us was essential.
Most respectfully, I have to wonder that people who advocate strongly for their MAPs, also see no need for life insurnace and carry no or minimum insurance on their cars and houses. A mindset and lifestyle. God bless them if / when they have cancer or a life-threatening condition and they get denied care; they'll surely change their minds on MAP in a fleeting heartbreat. $40K in years of psuedo savings suddenly comes due in one check.
It sounds like the medigap plan was a perfect fit for your needs! Flexibility and the ability to choose specialists can make all the difference when traveling. Thanks for sharing!
Its about being able to afford it!! Seniors are trying to survive, a 350 medicare payment each month with housing and basic life is not a possibility for most Americans
It really depends on where you live, which Medigap plan you select, and most importantly, which insurance company you contract with. To make a blanket statement that Medigap plans are simply unaffordable and state a specific dollar amount, is misinformation. Yes, there is an extra cost to pay and in some areas of the country, rates are expensive and there are seniors for whom it may be unaffordable, but for many seniors in most areas of the country, there are Medigap plans that provide good coverage at reasonable rates. Seniors should take advantage of independent brokers who can help guide them in finding the best policy for their individual needs.
Thank you for your comment. Your case is very similar to many people. And the cost of your mentioning is most likely, including Medicare, Medigap, and a drug plan, correct?
In my mother's last 12 months of life, when ages 92 and 93, she was in the hospital 5 times, in-patient rehab 3 times. In home rehab about 20 days, out patient heart valve repair along with usual doctor visits as follow ups, not one dime was she responsible for. As her children managed through this we never had to worry which hospital she was taken to or which facilities or medical teams worked on her care. She was in no position to help herself through her medical situation to ensure she used only in network facilities As her personal representative that had to take care of bills, it was an immense relief to know she had medigap.
I have Traditional Medicare with a Medigap policy. I would never move to a Medigare Advantage plan due to the fact that an insurance company controls what they cover for me. I never get a bill for my services. So I agree with Ann's Mom. Unless you have a crystal ball, you can sleep at night knowing you are 100% covered with a Medigap policy.
Advantage plans are great as long as you're healthy. And at age 65 most people are in reasonably good health and figure they'll stay that way. But around 68-71 health issues often develop. Then you start learning about the Disadvantage plan problems. Narrow networks, required referrals, prior approval, step therapy, denial of care, and several hundred dollars per day copays for the first 5 - 10 days of hospital care and skilled nursing facility care. Also, you can change advantage plans once a year while your doctor can decide to leave a network any time he/she wishes, leaving you stuck. Additionally, more and more hospitals are refusing to accept Disadvantage plans as well. And frequently once you have major health issues you won't be able to pass medical underwriting to get on a much better medigap plan.
@@futureaceone3971 If you want non-transparency and hassle go with a big name insurance company, like the one I had through my employer before retirement. My advantage plan is terrific.
I think it depends on where you live if you live in an urban environment, most likely the advantage plans will be beneficial to you, but if you live in rural America, then the advantage plans most likely won’t be very good for you because there’s not a lot of choices for you. I live in New York, and there are so many choices for us. Also New York has a different rule that allows you to switch from an advantage plan to a Medigap plan.
Additionally, my in-laws live in rural America, just widowed MIL got a cancer Dx and specialists were a 2 hour drive away. with original Medicare we were able to bring her to ATL for treatment. Her brother with a MA PPO was velcroed to his Region and could not leave for treatment as it would have been out-of-network and his full expense. I choose original Medicare & Medigap for myself.
I live in a rural area 2 hours from a "big city" that is also out of state (and thus out of network). My Advantage Plan is statewide (plus parts of contiguous areas) and if I need a specialist outside my immediate area all I need is a referral. As is very common - even in smaller cities - most services belong to a single company that accepts most insurance plans, so my Advantage plan is accepted everywhere. Pre-approval of benefits goes much smoother and faster than when I had insurance under "big name" carriers under an employer through managed care.
@ if you live 2 miles from a big city, you don’t live in a rural neighborhood you live in suburbs rural is somewhere very far from a big city like you living on the farm in the Midwest or somewhere in the deep deep south. But I’m glad you seem to enjoy your advantage care plan.
There is one thing that was not mentioned. More and more doctors and hospitals are refusing to accept advantage plan participants - due to several reasons: the insurance companies second guessing doctor's decisions, the difficulty to get such refusals reversed (which is quite common), the delays in getting payments for approved procedures from the carrier, the restricted networks and all the extra paperwork.
I have an F plan. So happy, I can go to virtually any doctor or hospital. Nobody tells me who I can see, makes me get a referral, or where to go for lab/radiology.
All was great for my father-in-law until he had a stroke and then we learned all about why you stay clear of Advantage plans. My mother talks about her lower premiums on Advantage but then her co-pays on Advantage add up to double what she would have just spent for supplement... You have one choice to get this right. Don't be Penny wise and pound foolish!
Being on Medicare Advantage is like being in a Jail, time is ticking Can’t play with your health, Very dangerous for the unsuspecting Specially if you travel You are on your own no coverage at all, that’s Scary.
I'm with Kai's mom. My advantage plan is not unlike my group plan when I worked. Although I have a few chronic conditions, my meds have no copay, and my doctor visits are just twice a year. For me, no additional premium, bundled coverage, and all my caregivers -- primary care, teeth, eyes in network -- were the determining factors. I could have easily afforded the medigap premiums, but when you factor in annual increases, a separate prescription plan, dentist, eye exams and glasses -- it didn't make sense to pay year after year for a "what-if" scenario. My M-I-L has a medigap policy, like Ann's mom, and she's happy with her choice, because she is a "what-if" person. Health insurance companies are in the business of making money, so either way, they will make money. I could have stuck with original Medicare, but I'd still be paying copays, deductibles, the dentist, the eye doctor, and a drug plan with copays, so why not get more bang by choosing the right Medicare Advantage plan. And yes, it all hinged on having the right in-network providers and taking generic drugs. Not everybody has that option. It would have changed my choices for sure.
Original medicare with a Medigap Plan G has no copays or deductibles, other than the Part B $240 per year deductible which everyone pays. It is true that it does not cover dental or vision and most Advantage plans offer minimal dental and vision in my area. 20% may not be much to pay until you run into a very large bill which can bankrupt you - so that's the gamble.
@@shall5867 Bankruptcy is not even on the table because my particular Advantage plan has an annual out of pocket maximum of under $8k. If the worst were to happen, I have more than enough to see me through a multi-year crisis under the current provisions of my plan. It is the gamble I'm taking, but the odds are in my favor. As with those before me, when I go, I will go fast. While I can't foresee what the future holds or what our next administration will do with Medicare, I do plan using history and personal philosophy as my guide. I do not rely unduly on fear or abundant caution. Calculated risk is my methodology. Pros/cons are my process steps. Done it all, and I'm content with my choice.
I don’t want an insurance company to ration my care and override a doctors recommendation. That’s outrageous since I’ve paid into Medicare and they would pay with no questions. I’m a what if so there’s assurance I’ll have the care I need
Our local rural hospital has quit taking all but one advantage plan. They found that most all advantage plans are either very, very slow pay or will question every little detail of a claim so that it takes forever for the hospital to get paid.
I would never change my 4.5 star-rated MA plan, which I've had for 8 years now, and is with the same HMO I had prior to retiring. I'm pretty healthy, but have never been denied a service or test thst my primary care doctor recommended. But the truth is, with health insurance as in all of life, one size does not fit all. Kai's mom for the win!
It's great to hear that you've found a plan that works so well for you! You're absolutely right - health insurance needs can vary so much from person to person.
We are on a group Medicare advantage plan from my job that mimics our PPO plan that I had while working. We have not noticed any difference from the prior insurance. 😊
@@douglasjensen8986 Many financial planners reviews and articles state it. It's private insurance. Govt forced them to do something they didn't want to do and it has a cost and the premium cost at the top of the scale was it. It's always money. You don't get something for nothing. Likewise, the other extreme of the almost unanimous inability to get Medigap back once it's dropped due to extreme underwriting and cost was the price paid for 100% acceptance for all first time Medigap applicants. So in essence it's a guarantee almost you'll ever drop it unless you can no longer afford to pay it as the rates have been increasing hand over fist. Time to nationalize it all to single payer.
I'm on Medicare due to permanent disability. I also have Medicaid as a secondary. I like this channel because in time, if I no longer qualify for the Medicaid secondary, I want to know what is out there for me. Unfortunately, I have to wait until I'm 65 (5 more years!) before I can even get a supplemental plan to my Medicare. My biggest concern about an Advantage plan is the limited physicians in the group. I'm in a small town, so it's even worse for me because I have to travel a long distance for specialists. The last thing I need is the insurance company telling me I have to travel to a specialist included in their group that's 3-4 hours away. I prefer to have more power than the insurance company and also, not have to always have a referral for a specialist. Some specialists require them, even on Medicare, like neurologists and doctors like that. I'm definitely team #Ann'smom! :)
Thank you for sharing your experience! Navigating Medicare and Medicaid can be challenging, especially with the limitations in your area. It's great to have a community where we can learn and support each other!
I have a Medigap Plan and I would never consider an Advantage Plan. Because of health issues my Medigap plan has paid thousands of dollars that Medicare would never pay.
Both my wife and i are currently on a plan G medigap plan. She has several chronic conditions (hypertension, diabetes, etc). I do not. Due to rising costs, im considering switching me to an advantage plan. My PCP, local hospital, dentist, optometrist, and numerous specialists are all "in network". Im a little leary but,the cost savings would help us out at the grocery store. Im thinking she'll stay on her current plan.
I have a Medicare Advantage Plan. PPO. My network is huge. My PCP, specialists, Optometrist, Dentist, Pharmacies are all in my network. I have had no issues so far and I've been on it a couple of years. My Dad had one as well and he had great coverage as well. I have been very happy with it so far. And I am saving a lot of money every year.
@@OroborusFMA In my family we live a long, long time. My grandfather 104 on Dads side. My Dads Mom 98.My Dad Passed at 98 years of age. My grandpa on Moms side 96. My Mom's Mom 94. My Mom is 91 and isn't going anywhere anytime son. I myself am currently 66 and feel like a 20 year old. I workout everyday. I eat right. And I also have hospital indemnity insurance on top of my main insurance. I think I'll be okay.
Wow, that's an incredible family history! It sounds like you have the longevity genes on your side. Keep up the great work with your health and fitness!
@@OroborusFMA -- remember, an Advantge plan covers EVERYTHING that Original Medicare does, and usally even more. Over 10 years on Advantage plans, I've spent under $3500 in copay / coinsurance for a total knee replacement, (minor, thankfully) Cancer surgery & chemo, 5 prescriptions for Paxloid, a Tier 5 COVID treatment that will cost $796 per prescription out of pocket on any separate Part D plan, (was $0 on Advantage plan), What I do give up is the ability to go to any hospital nationwide for any treatment, but the $40k I've saved in premiums has been worth it. My Aetna plan has "in-network" providers nationwide, so I'm not without options while traveling in the USA.
@@OroborusFMAI have had a Medicare advantage PPO plan for 10 years. I have had breast cancer, a total knee replacement and rotator cuff surgery with NO issues getting care. I have selected the doctors I wanted with no referrals. No one denied me care. Your assessment of Medicare Advantage Plans is sorely lacking.
Many of the insurance carriers that handled the advantage plans are the same insurance companies that we all had while we worked 40 or 50 years at companies. For example, Blue Cross and Blue Shield with large networks of doctors in all 50 states. Many of the advantage plans have PPO planswhich allows the patient to choose whatever or whoever Dr. Hospital they want to go to and because these networks are so large in my state, I have a wide range of selection. I can also go out of state for specialized care, but my out-of-pocket would be higher.
My brain/personality type is with Ann's Mom, but the reality of my bank account makes me side with Kai's Mom. The cost savings is what changed my mind. So I eventually caved and switched to a Advantage plan last year. It is a lot of work to wade through the plans, but your advice to choose by process of elimination is good advice. Seriously choosing a MA plan is like gambling and playing on your hunches!
The focus for 2025 should be Drug Coverage changes whether you have a standalone Part D or MAPD. With the Inflation Reduction Act cap of $2000 MOOP for 2025, lots of folks will shocked if they’re taking Tier 3 and 4 drugs. Read those ANOCs carefully. Winners are folks taking very expensive drugs. Losers are those taking just one or two Tier 3 or 4 drugs with a maximum deductible of $590.
My boyfriend has Medicare Advantgage Plan through Bluecross / Bluechip…He was just diagnosed with cancer and co-pays, meds are climbing…Before he got sick the planned worked great for him..He now needs something with low or no co-pays and cheaper medication prices..He doesn’t care about the perks like gym memberships etc…I’m trying to help him but I don’t know which plan will work….What should he do? Now Chemo is starting once weekly, radiation everyday for 7-8 weeks, the co-pays going everyday for the radiation, the going there 2x weekly for fluids/hydration….I think he might lose everything keeping up with this..He has a treah in his throat, a feeding tube so that’s more $$$$$…He is 65, lives in RI….Any suggestions would help!
Medicare Advantage is like being in jail because you can’t travel out of state, they offer dental But denied my dental cleaning and had to pay Out of pocket, that was enough for me to make my decision to change back to regular Medicare and supplement Insurance.
@@plazas1242 I have heard that about some Advantage dental and vision plans - they are very minimal coverage. The thing I hate is that in most states it is difficult to switch back to Medigap unless you do it very quickly after first choosing Advantage. I have had an Advantage-like employer plan which delayed approval for testing for a severely impinged spinal cord and requiring PT first, all of which nearly caused me to permanently lose the ability to walk before finally being able to have surgery. Now I am choosing Medigap because of that.
My wife is considering Plan N. May I ask what you are having to spend on insurance for 1) Drugs (Part D); 2) Dental care ; 3) Vision care These are significant medical expenses for most people, and require a lot of time to shop for the right policies (as we're finding out)
My partner was hospitalized with pneumonia. His advantage plan pushed him out of the hospital bf he was able so he went into a rehab center but the plan forced him out bf he was able to care for himself. I have an opportunity to switch to medigap and will probably be doing that for my future needs.
My question is simple, how the MA with the government's subsides around $1,000 per month per enrollment is less flexible and with less benefits than MGap plan that is completely self-funding and costs (adds all the plans except the gym card to equivalent MA) around $300 - $500 per month per enrollment? Am I missing something here?
The answer is also simple: the insurance company (MA plan) is trying to keep as much money as possible. However, with a Medigap, the insurance company has no control because they are not the primary. And by law, they have to pay no matter what as long as Medicare accepts the bill. Because the insurance company has to pay, no matter what on a Medigap AND it is guaranteed renewable (meaning they cannot drop out like Medicare advantage plans can), that’s why the cost is more.
What do these plans do after 60 days Hospital or skilled nursing facility as a inpatient. My wife only has 16 days left on Medicare. I'm worried about medical debt
Sorry to hear about your wife . That must be a horrible thing to go through. Does she have only Original Medicare and nothing else? Yes so, then she will have to pay per day after day 60. Days 61-90: (of each benefit period): $408 each day.
It seems like an Advantage PPO is better than a HMO for ability to go anywhere, yeah? Not a Medigap, but Advantage PPO seems like it has the advantages of a Medigap and no disadvantages of a HMO. Could you please expound about this? Anybody?
The PPO plans do not have the same freedom as Medigap. Remember, your doctor still has to accept the terms of conditions of the PPO. With my gap plans, the the doctors do not have to accept the terms and conditions of the Medigap. The doctor only needs to accept original Medicare. The Medigap has to pay the remaining balance based on the plan you choose.
Odd you say all plans cost the same ? I have talk to 3 different brokers and all gave me major price differences for suppl. N or G in my area. Of coarse advantage plans are cost 0 month to month in my area accrding to the brokers. So why the differences in price on N or G from 3 brokers?
I’m not sure where in the video that we say all the plans cost the same. In the video we specifically gave a range. Could you let us know where we said this?
@@kciis Right at 2:57 in the video. You said wether you go thru the insurance company, you or another broker price is the same. I find this is not true. I have been getting much different prices between different brokers, medicare and direct thru the insurance companies?
Loved you video. Since now, I know terminology. Couple years I was confused with these words. I wish you repeated: Supplemental plan=Medigap. Advantage plan=Meicare plan C (which is not Medicare, it is a private managed care from Private companies, for PROFIT)
One thing they didn't mention. It is my understanding that an average Medicare Advantage patient cost Medicare more than the average patient with traditional Medicare and a Medigap policy. One of the reasons we chose traditional Medicare and a Medigap policy to to help preserve the Medicare program.
As a provider Medicare Advantage is a nightmare, Mayo Clinic won’t take it, Vanderbilt won’t take it. So many providers won’t take it and we are phasing it out. As opposed to Medicare regular with supplements the Advantage plans are private and providers can choose not to take it. The paperwork burden for Medicare advantage plans is a nightmare getting things approved is a real headache so we tell the patients you’ll pay more but you’ll get more access to the best care because the best care places are dropping advantage . they don’t have time to deal with the paperwork And get paid the same as the regular Medicare plans.
My question is about the denials from MAdvantage plans. I hear the percentage of denials and appeals is going up each year. How huge of a pain are those issues?
It really depends on the area and the type of plan. Also, too, more more people are choosing Medicare advantage plans simply due to the lack of pensions and the cost of living going up upon retirement. So the statistics are going to go up compared to before. When we first started, we sold Medicare advantage plans perhaps 20% of the time but now it’s about 50% of time.
Is it possible that someone signs up for an advantage plan only to discover that no doctor in the network is accepting new patients as primary care physician? Or are you guaranteed to be accepted? Are you allowed to change plan type if this happens?
Your first question is a tricky one. It could be if the doctors write the contract with the advantage plan, but not necessarily whether the network is limited. There might be another guarantee they should ride if they have advantage plan for the first time in the last 12 months of Part A or 65 years old. But this is for the Medigap. That person does have the open enrollment right now, though to another MAPD or plan type. Are you sure that person is searching all the doctors? The problem is Advantage plans don’t necessarily promise doctors within a certain radius. So there might be no doctors near her, but maybe a doctor 30 minutes away. Unfortunately, that is the nature of Advantage plans in certain areas. Kai & Ann Chung
We are in Missouri and we do the local hospital sponsored Medicare advantage program and it is wonderful Since being on the plan for two years, I have had two stents put in and my wife had a major tumor removed and our total cost between those was about $1200 so just do the math. It makes sense in our area to do Medicare advantage We have two major hospitals in our area and the one we use because of the Medicare advantage being sponsored by them services all are possible needs In addition, we both get $100 a month for over-the-counter medicines that we buy at Walmart so after a few months of loading up on that now we load up for our kids who are adults with families of their own Hard to beat premium that’s for sure Your presentation is very good and very much needed thank you
Thank you so much for sharing your experience! It's encouraging to know that people are finding real value in these programs. Your kind words about the presentation mean a lot to me!
@@pearlsandpowertools547 -- all Advantage plans, by law, provide for Emergency / Urgent healthcare nation wide at In-Network prices. But you'd have to travel back to your home region to get extended care "in-network". Remember, the In / Out of network garbage is only related to Part B covered doctors & services
@@pearlsandpowertools547 when we go to Arkansas, as an example to visit our son and his family, then the plan would cover anything that would come up Obviously, you wouldn’t go there out of state or wherever to get a scheduled test or something like that Nor would you want to because that wouldn’t make any sense to do if you’re visiting someplace but if you went to the ER because it’s an emergency, then you would be covered
I have Plan G, and I have two pensions from Boeing, one as a machinist and one as a technician, each about $1200 per month. But what does “hybrid” mean when it comes to pensions? I have never heard that term.
If it sounds to good to be true it is. If you can afford plan g,do it. Relax and enjoy the piece of mind being able to choose whichever doctor you choose.
I take a number of prescriptions and I read the max deductible for advantage plans can be up to $7000 annually, while with regular Medicare it's capped at $2000. That seems fairly significant to me. And a free gym membership, which everyone touts, despite the fact most people I know aren't using it, isn't going to make up that difference. 🙄
If I am on a Medigap plan and I have seen over the years that my premium has increased very high compared to other Medigap plans in my area, can I switch my Medigap plan to another provider during the open enrollment season? If yes, can I switch to a different Medigap plan? For example, G to N? Thank you.
Do advisors like yourself get a higher commission when someone picks the Advantage plan vs part B plan? I'm 66 and still working, i get countless calls and mail on how the advantage plan is so much better.
Yes, agents do get paid higher commission with MA plans which is why it is so often pushed. However, we hope that most agents will choose a plan that fits the need of the client rather than focus only on commission.
Very informative video. I will be turning 65 in December next year, so I'll need to sign up in June. When you talk about cost in this video, it sounds like you are only talking about the premiums. What about the average total cost, when adding in deductables, co-pays, etc. Doesn't the higher premium of a medigap plan get offset by lower costs for service?
Yes, you are right and that’s what we mentioned in the video when factoring in all the years, you also saved on the Medicare advantage plans. The total cost can be argued on both sides and that’s why my mother chose the Medicare advantage plan side. However, the type of care and the freedom to choose should be the main deciding factor for Medigap. I hope this helps.
You are correct I must be dumb to deal with someone like you I pray for people like you just try to live your best life but for sure it will never be as good as mine peace out
We had FEHB but now Postal System is moving us to PSHB - have never heard of Medicare supplement plan but I knew we didn’t want an advantage plan but Postal system seems to be pushing those now - I assume our GEHA plan took care of what you would call supplement plan - any insight into FHEB and now PSHB - the Postal System has been VERY SLOW coming forward with any info
The federal health benefits have always been pushing the Medicare advantage plans. For the most part, they usually only have HMO and PPO. If you go to the opm.gov website you will be able to see the plan details and you have to look at your state to see what’s available. I would recommend calling OPM to navigate the website.
Come on people Plan G or plan N the disadvantage plans are dropping out of less profitable areas. If you want your health care in the hands of an insurance company mainly focused on profit and not your health go ahead. It’s almost criminal 👎👎👎
I'm in NY so Plan G & N are very expensive. I wanted Plan G to avoid HMO's & PPO's and so I wouldn't owe anything after my deductible. I currently have a high deductible G plan because it was more affordable but not sure yet what the cost will be per month for 2025. My current plan D will double in premium per month cost for 2025.
Unfortunately NY is a very TOUGH state for insurance carriers. You made the right choice. Regarding your Part D, you might enjoy explaining why your Part D plan went up so much. Thanks for watching! 2025 Medicare: What To Do & Avoid for Open Enrollment ruclips.net/video/NITtse8QOVY/видео.htmlsi=Hgs8gqKH6MOJgRLS Kai & Ann Chung
I believe if your Medigap plan stops participating as Medicare supplement the insured can enroll with another insurance carrier without going through underwriting.
I think you might be referring to Medicare advantage. Medigap plans must be guaranteed renewable by Federal Law. You can take a look at the choosing a medigap policy booklet by Medicare.
Yes, Medicare allows switching to Medigap without underwriting, IF your MA plan's contract isn't renewed or they go out of business or pull out of an area.
The best time to buy a Medigap plan is when you first enroll in Medicare. It must be in the first 6 months, and insurance companies cannot turn you down. I am livid Social Security did NOT inform me I must apply in the first 6 months of receiving my Medicare Card. I feel Medicare need to send a letter explaining this in the same year you will turn 65 prior to your birthday.
I completely understand your frustration. It’s crucial for everyone to know these important timelines, and clearer communication from Social Security would definitely help.
Depends upon the type of medigap plan. For example, there are no co pays for the HDG plan that I am on, but there is a deductible. I can pay the deductibles with tax free funds from my HSA account.
It depends. You will have to go through underwriting. Depends on how you can answer the health questions. Some won't even take you with a diagnosis of fibromyalgia.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second daughter. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks.
@@ЕленаФирсова-ц6м Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. *MARGARET MOLLI ALVEY*
"Limited" is a relative term. Almost all doctors and providers in my 7 county area accept my 4.5 star CMS-rated MA HMO plan, which has existed since the beginning of MA plans. And I'm 73 and on no Rx. meds; I don't go to doctors often. I only wish it was a PPO plan, but otherwise, it's nearly perfect FOR ME. But one size does not fit all. Btw, I have never been denied any care by the HMO or doctor in my 8 years with it, nor was my mother, who had this same HMO MA before me.
Thank you for your response. If you’re referring to HMO‘s, we just say limited in the sense that you have to follow the list of doctors. Some networks are a huge depending on where you live. However, I still limited to the plan’s network. I hope this clarifies it.
My Brother has been on a Medicare Advantage plan from his previous long time employer for about the last 3-4 years- Are You saying that He can't change into a Medicare/Medigap Plan next year?
Also My brothers MA plan started out at around $300 a month total like 4 years ago- Seems like it's network driven like an HMO instead of him being able to go anywhere for treatment like regular Medicare/Medigap
If your brother has been dropped from his employer plan, he may qualify for a Guaranteed Issue Right where he would be able to sign up for Original Medicare. It would be best to reach out to a Medicare expert to help him find the best plan for his needs. Our number is 408-502-708 should he want to reach out to us. Thanks! ~ KCIIS Team
What risk? The max payout is only 5500. Over time you save thousands with MA if not paying medigap premiums. My mom died 100 mother in law 97. No problems with their MA plans. My wife's state teachers retirement has MA and it works well
MA is great if you put, let say $200 into an interest tax free ROTH IRA when you are still healthy at 65 (long before is better). You will accumulate the money you would have spent yearly into a plan G + dental, vision and Rx in a couple of years. That money will grow exponentially until you need it. After 5 years you would have $15,000.00 at 8%, and you will be ahead of all those plans. Knowing you could also use that money for anything else, and withdraw the interest of that account after the 5 year rule.
I would spend some time comparing plans with an independent agent. You can also find some ratings of different plans on line but information is very limited. Try Forbes Health/Best Medicare Supplement or Kaiser family foundation ratings. You must enroll within 3 months prior, to 3 months after you start Medicare A&B. Whatever your premium is at the start you can expect it to increase exponentially as you age. The bigger companies are usually cheaper because they have a larger customer base but smaller companies might provide better service. If you have ongoing health issues that will require lifetime care a Medigap plan will cover you very well, giving you peace of mind.
There are so many factors to consider when choosing a medigap plan. Feel free to reach out, and we can help you find the one that best fits your needs. 408-502-7080
I'll gamble on Advantage.$290.00 per month for medigap supplement and increases every 6 months. If I get an $8,000.oo medical bill with advantage, I'll just pay it at 25.00 per month
Each company is different. That’s why we did not post it. Also, the company can change the health questions every year. Lastly, we do not recommend banking on the health questions as to whether you should buy Medigap now or not. Even if you might pass now, your health might change and also the health questions might change.
If I read it correctly,, you indicated that Medigap plans are guaranteed renewable. I don't think that is true. Just as we can choose which plan we want, a company can choose whether they are in business or not.🤔
Exactly, the longer you live the more likely cancer is coming and with breast cancer in my family, I would never touch an advantage plan advantage plan is great if nothing really ever happens, but most of my patients regret their advantage plans once the crap hits the fan
Not if you ever need rehab, physical therapy, home health care or prolonged hospital stays. Of course every plan is different, but in general all advantage plans are risky
@8aNda1d The only risk to Medicare Advantage you may have to pay max payout of $5500 but you'll be paying $2000+ in premiums each year for gap coverage. Savings is huge over time fior advantage.. Whatever Medicare covers Advantage covers too as far as rehab etc. Horror stories of MA are way overblown.
@AS-tt8ui depends on how sick you get. If you are hospitalized more than one time in a year you will be responsible for that EACH time. Not so with a supplement. Monetary issues are one thing but delays or denials of tests and medical treatment is a greater problem, considering it delays your treatment. It's insurance, you get what you pay for and hope for the best. Only at our age the best may be behind us. So had you rather pay $2000 a year. Or risk paying $5500 2 or possibly 3 time a year. Not to mention copays for every Dr's visit, diagnostic test and procedure
@@8aNda1d You're wrong. You don't pay $5500 multiple times a year. One you reach $5500 for the year everything is covered for the rest of the year. The savings is huge over time that's why the percentage of MA plans keeps rising. My mother (100) and mother in law (97) both had MA with no problems. The delays and denials are not as common as they would like you to believe.
@@AS-tt8ui just stop. I said in my original comment not all plans are the same. But EVERYTHING I said is true. And if denials of MA prior authorizations weren't a big problem, I'm sure congress would not be holding multiple hearings on exactly that issue. As a matter of fact a bill is up for a vote now to holding those companies responsible. So just stop.
You’re absolutely right and that the advantage plans do pay more commissions. But the main reason is because advantage plans take longer to sell, having to look up the doctors and go through all the benefits. Medigap plans can be sold in half the time. The for sure, Medicare advantage plans are definitely crap for many people, including Ann’s mom. But my mom loves her Advantage plan and after having the Medigap after for one year, she dropped it and went back to the advantage plan. To each their own. But we appreciate your comment nonetheless. Kai & Ann Chung
The biggest problem I have is that my community rated Medigap plan has bern increasing the premiums _quarterly._ In 5 years it has gone up 100%!!!!!! Started out at $215/mo and now it's $430/mo. Highway robbery!!! The first two years, it increased annually. The third year, semi-annually, and now quarterly! I though they were supposed to be fixed for a year with only annual increases. Your quotes of $100-$200 premiums are laughable. If I hadn't listened to the advisor who sold me my Medigap plan, I would be with BCBS/AZ for $125, which is what my friends picked 5 years ago. They are stunned to see what my premiums are! I can't switch due to that damn questionnaire thay ask you when you try to. I don't want MA. I've heard enough horror stories of being financially raped if you get real sick and run out of money...
I’m surprised you have a community rated plan, but it also depends on what state you’re in too. Some states will have more increase than others. The quote of $100-$200 a month is is typical for someone that is 65 to 75 and for most states. However, depending on your ZIP Code, and also your age it could definitely be more.
OK, it’s obvious you have people working for you and then when they secure a plan they get compensation and you probably get a cut of it as well. I know it does not come out of our pocket. I’m just saying….
I live near Ft. Lauderdale, Florida. My parents have advantage but I’m going to take the supplement. However, I think I live in a good area for advantage plans. I’m concerned if I want to live somewhere else in the future I may be disappointed in Medicare advantage plans. I hate to pay so much money since I don’t go to the doctor that often. Thank you.
Yes, that's something to consider if you were ever to move, which is also a reason why Ann's mom decided on a Medicare Supplement Plan. Wish you the best and thanks for supporting our channel!
Poll: Who's side are you on? Ann's mom (Medigap) or Kai's mom (Medicare Advantage)?
Ann’s mom
@@karisheets2323 Kai's Mom
Ann’s mom
Ann's mom.
Ann’s Mom
I’ve been on standard Medicare with Supplemental since I retired with absolutely no issues. I chose that route vs an Advantage Plan due to an issue with my PPO while employed. I injured my knee and it took 9 months to get approval for a MRI while the PPO pushed me through their std escalation process; GP, x-ray, Orthopedic approval, CT, 4 months of PT, x-ray then finally approval for a MRI. 9 months barely walking until the orthopedic surgeon could get me the MRI just to tell me that I would never walk until I had surgery. 9 months of PPO approvals so I will never let an insurance company determine the course of my treatment again.
Until everyone is forced to get advantage plans
I have a Medigap plan N and would not consider an Advantage plan unless I could not afford one financially. My main reasons are because I do not want to hand over my medical decisions to a for profit insurance company (Advantage plan) which will dictate what medical care I will be able to receive and where I will receive it. These plans can, and routinely do, deny care. I want any medical decisions on my care to be made by me and my doctor, not an insurance company who is beholden to shareholders and is only concerned about their own profits. If a specific treatment or procedure is determined by my doctor to be medically necessary, Medicare will cover it and my Medigap plan will pay, no questions asked. However, that is not the case with an Advantage plan, who can refuse to pay, forcing treatment delays or an outright denial for the patient receiving the care they need. The patient is then left in the unfortunate situation of having to go through the appeals process in an effort to get the care they need, or paying for their treatment out of their own pocket.
You make some excellent points about the importance of having control over your own healthcare decisions. Medigap plans certainly provide a level of security and peace of mind for many people.
Kai & Ann Chung
@@alfonso1781 You are welcome, and I am so sorry you are having to deal with a denial. My advice to you in this situation is to make the extra effort and appeal the decision, since I think that over 70% of the time, you can win if you stay persistent, assuming you and your doctor are in agreement that your procedure is medically necessary and covered by Medicare.
You appear to be somewhat confused. The companies that offer Medigap coverage are also in business to make a profit for their shareholders - they are not non-profit.
According to a study by CMS - the advantage plans are costing the taxpayer much more than Medigap plans. This is because the government pays the advantage plans a certain amount of money every month - regardless of whether the policy holder receives any medical care or not.
The advantage plans are currently making many billions of dollars in profits every year. They have essentially zero incentive to pay out on a claim - unlike Medigap plans, whom must pay if Medicare pays.
@@MaryBethMcCoySure have experience here if you want to go that route and have medical procedures delayed for 129 days or more and still be denied it's your life dice to roll. MA policies are a last resort changing every year the control is the insurance company's and not yours so good luck. Just be sure to get a stand alone hospital indemnity policy to cover the deep hole you will drop i😳😳😳😔
@@Dilberts_Dogbert I think you are replying to the wrong comment. I don’t have an MA plan for the reasons you state, along with many others. You may want to read my original post again
I have a Medigap plan F that is community-rated and offers gym membership, 24-hour call a registered nurse service, and discounts on vision and hearing services. I am very happy with my plan and would never even consider changing to a Medicare (Dis)Advantage plan. I don't want a private insurance agency making health care decisions for me or restricting my access to a particular network of doctors. So many doctors and hospitals accept original Medicare without question and then, of course medigap pays its part. As far as medigap costing a little more, I think you have to ask yourself what your priorities are. My priority is "no hassles, no worries" health care. I am willing to drive an older car and make other sacrifices as necessary because my health comes first.
You are echoing my moms thoughts! 😀 - Ann
My F is costing $300 a month. Ouch. I have no health issues.
@Dbb277-2 That's why I did not enroll...I would have given a company thousands to pay for my co-pays for the last 3 years. My MA has worked perfect for me
@@Dbb277-2 Do you also have to pay for a Part D plan?
I remember at age 19 driving by the Social Security Office seeing an elderly person going in the building. I smiled and thought "It will be a long time before I have to do that" Fast forward almost 47 years later and I am not smiling anymore. Still working because I want to, not collecting Social Security yet, and started in the company's 401k plan at age 21 because my manager sat me down and talked me into it. That was 1980. He is retired now, but everyday at some point during the day I thank him for it. None of us think about Medicare when we are 19 years old. In all honesty I always thought at 65 we all just went on the same insurance, but it doesn't work like that. Not sure why, just seems like there should be one policy that has it all and we pay the same amount. Ya'll had a similar video like this one a year or so ago and I remember weighing both sides and my thoughts on it. I am half like Ann's mom and half like Kai's mom so it made it harder for me to decide. My thought process was that I felt like my whole life while working I have had an Advantage plan. Never had any major health issues. Pros and Cons on both sides. For me it basically comes down to the Peace of Mind with a Medigap plan. I will be paying as I go so if something major happens there is little out of pocket. It's like having home owners insurance. I don't need it as I have no mortgage but I have it just in case something happens. I don't need a Medigap plan because I am healthy but we all are healthy until we are not. So if something happens I have it covered. Then I am hearing some companies with Advantage plans are pulling out of areas that are not profitable. When I was younger I always thought things would get easier as we aged. I think it was because my grandparents always talked about the golden years. But the reality is there is nothing golden about growing old. Great Video. "The Cajun Ninja's Dad"
It's interesting how our perspectives change over the years! Planning for the future is definitely important, and it's great to hear you made wise choices early on and took the good advice from others. Thanks for sharing your thoughts, very much appreciated 😀
We have a new administration that can't wait to cut social security and raise the age to start collecting social security from 62, to 70. Good luck!🤦♂️😂🤣😅😆
We NEEDED the medigap plan because we traveled seasonally to more than one state. We were out of network for months at a time.. we NEEDED the flexability.
Plus.. we needed specalists in other states.. and the idea of having to BEG for out of network servjces care was incredibly unappealing. The freedom to chose. for us was essential.
Most respectfully, I have to wonder that people who advocate strongly for their MAPs, also see no need for life insurnace and carry no or minimum insurance on their cars and houses. A mindset and lifestyle. God bless them if / when they have cancer or a life-threatening condition and they get denied care; they'll surely change their minds on MAP in a fleeting heartbreat. $40K in years of psuedo savings suddenly comes due in one check.
It sounds like the medigap plan was a perfect fit for your needs! Flexibility and the ability to choose specialists can make all the difference when traveling. Thanks for sharing!
Its about being able to afford it!! Seniors are trying to survive, a 350 medicare payment each month with housing and basic life is not a possibility for most Americans
True. And even for some who can, it might be a tremendous waste of money better spent on other things.
It really depends on where you live, which Medigap plan you select, and most importantly, which insurance company you contract with. To make a blanket statement that Medigap plans are simply unaffordable and state a specific dollar amount, is misinformation. Yes, there is an extra cost to pay and in some areas of the country, rates are expensive and there are seniors for whom it may be unaffordable, but for many seniors in most areas of the country, there are Medigap plans that provide good coverage at reasonable rates. Seniors should take advantage of independent brokers who can help guide them in finding the best policy for their individual needs.
Thank you for your comment. Your case is very similar to many people. And the cost of your mentioning is most likely, including Medicare, Medigap, and a drug plan, correct?
@@MaryBethMcCoy They start out at reasonable rates, but they go up every year. You also have to pay for a Part D plan. The expenses add up.
In my mother's last 12 months of life, when ages 92 and 93, she was in the hospital 5 times, in-patient rehab 3 times. In home rehab about 20 days, out patient heart valve repair along with usual doctor visits as follow ups, not one dime was she responsible for.
As her children managed through this we never had to worry which hospital she was taken to or which facilities or medical teams worked on her care. She was in no position to help herself through her medical situation to ensure she used only in network facilities
As her personal representative that had to take care of bills, it was an immense relief to know she had medigap.
Thank you for sharing your experience. It’s good to hear that your family navigated such a challenging time with the support of Medigap.
Which medigap plan?
I have Traditional Medicare with a Medigap policy. I would never move to a Medigare Advantage plan due to the fact that an insurance company controls what they cover for me. I never get a bill for my services. So I agree with Ann's Mom. Unless you have a crystal ball, you can sleep at night knowing you are 100% covered with a Medigap policy.
Sorry, I mistyped. Correction: "I would never move to a Medicare Advantage plan ..." See correction above.
Advantage plans are great as long as you're healthy. And at age 65 most people are in reasonably good health and figure they'll stay that way. But around 68-71 health issues often develop. Then you start learning about the Disadvantage plan problems. Narrow networks, required referrals, prior approval, step therapy, denial of care, and several hundred dollars per day copays for the first 5 - 10 days of hospital care and skilled nursing facility care. Also, you can change advantage plans once a year while your doctor can decide to leave a network any time he/she wishes, leaving you stuck. Additionally, more and more hospitals are refusing to accept Disadvantage plans as well. And frequently once you have major health issues you won't be able to pass medical underwriting to get on a much better medigap plan.
Sorry, but this is how most insurance works.
@@windycityliz7711 No, this is how non-transparent companies pull the wool over people's eyes. Sell the sizzle and there's no steak.
@@futureaceone3971 If you want non-transparency and hassle go with a big name insurance company, like the one I had through my employer before retirement. My advantage plan is terrific.
I think it depends on where you live if you live in an urban environment, most likely the advantage plans will be beneficial to you, but if you live in rural America, then the advantage plans most likely won’t be very good for you because there’s not a lot of choices for you. I live in New York, and there are so many choices for us. Also New York has a different rule that allows you to switch from an advantage plan to a Medigap plan.
Thanks for sharing!
My kid sister, NYker, has MS. Her own specialista as well as other specialists did not accept MA in NYC. She went back to original Medicare & Medigap.
Additionally, my in-laws live in rural America, just widowed MIL got a cancer Dx and specialists were a 2 hour drive away. with original Medicare we were able to bring her to ATL for treatment. Her brother with a MA PPO was velcroed to his Region and could not leave for treatment as it would have been out-of-network and his full expense. I choose original Medicare & Medigap for myself.
I live in a rural area 2 hours from a "big city" that is also out of state (and thus out of network). My Advantage Plan is statewide (plus parts of contiguous areas) and if I need a specialist outside my immediate area all I need is a referral. As is very common - even in smaller cities - most services belong to a single company that accepts most insurance plans, so my Advantage plan is accepted everywhere. Pre-approval of benefits goes much smoother and faster than when I had insurance under "big name" carriers under an employer through managed care.
@ if you live 2 miles from a big city, you don’t live in a rural neighborhood you live in suburbs rural is somewhere very far from a big city like you living on the farm in the Midwest or somewhere in the deep deep south. But I’m glad you seem to enjoy your advantage care plan.
There is one thing that was not mentioned. More and more doctors and hospitals are refusing to accept advantage plan participants - due to several reasons: the insurance companies second guessing doctor's decisions, the difficulty to get such refusals reversed (which is quite common), the delays in getting payments for approved procedures from the carrier, the restricted networks and all the extra paperwork.
Thanks for sharing @buggsy5!
I have an F plan. So happy, I can go to virtually any doctor or hospital. Nobody tells me who I can see, makes me get a referral, or where to go for lab/radiology.
Thanks for sharing!
I'm jealous. I was born a year too late for F.
Until you get very ill.
I am referring to Medicare advantage plan.
Wisdom is power!
All was great for my father-in-law until he had a stroke and then we learned all about why you stay clear of Advantage plans. My mother talks about her lower premiums on Advantage but then her co-pays on Advantage add up to double what she would have just spent for supplement... You have one choice to get this right. Don't be Penny wise and pound foolish!
Sorry to hear about your father-in-law. Thanks for sharing your experience.
Being on Medicare Advantage is like being in a Jail, time is ticking
Can’t play with your health,
Very dangerous for the unsuspecting
Specially if you travel
You are on your own no coverage at all, that’s
Scary.
I'm with Kai's mom. My advantage plan is not unlike my group plan when I worked. Although I have a few chronic conditions, my meds have no copay, and my doctor visits are just twice a year. For me, no additional premium, bundled coverage, and all my caregivers -- primary care, teeth, eyes in network -- were the determining factors. I could have easily afforded the medigap premiums, but when you factor in annual increases, a separate prescription plan, dentist, eye exams and glasses -- it didn't make sense to pay year after year for a "what-if" scenario. My M-I-L has a medigap policy, like Ann's mom, and she's happy with her choice, because she is a "what-if" person. Health insurance companies are in the business of making money, so either way, they will make money. I could have stuck with original Medicare, but I'd still be paying copays, deductibles, the dentist, the eye doctor, and a drug plan with copays, so why not get more bang by choosing the right Medicare Advantage plan. And yes, it all hinged on having the right in-network providers and taking generic drugs. Not everybody has that option. It would have changed my choices for sure.
Thank you for sharing your experience with our viewers. Definitely sounds like you made the right choice for yourself. 🙂
You said it perfectly. I would have giving a company thousands for medigap fees that I could handle. It's a crap shoot as insurance has always been.
NYS is the only state where you can buy a medigap plan after your window has closed.
Original medicare with a Medigap Plan G has no copays or deductibles, other than the Part B $240 per year deductible which everyone pays. It is true that it does not cover dental or vision and most Advantage plans offer minimal dental and vision in my area. 20% may not be much to pay until you run into a very large bill which can bankrupt you - so that's the gamble.
@@shall5867 Bankruptcy is not even on the table because my particular Advantage plan has an annual out of pocket maximum of under $8k. If the worst were to happen, I have more than enough to see me through a multi-year crisis under the current provisions of my plan. It is the gamble I'm taking, but the odds are in my favor. As with those before me, when I go, I will go fast. While I can't foresee what the future holds or what our next administration will do with Medicare, I do plan using history and personal philosophy as my guide. I do not rely unduly on fear or abundant caution. Calculated risk is my methodology. Pros/cons are my process steps. Done it all, and I'm content with my choice.
I don’t want an insurance company to ration my care and override a doctors recommendation. That’s outrageous since I’ve paid into Medicare and they would pay with no questions. I’m a what if so there’s assurance I’ll have the care I need
Thanks for sharing your insight!
Our local rural hospital has quit taking all but one advantage plan. They found that most all advantage plans are either very, very slow pay or will question every little detail of a claim so that it takes forever for the hospital to get paid.
Wh8ch is determined by state. Those states who did not truly adopt the AFFORDABLE CARE ACT lag behind
I would never change my 4.5 star-rated MA plan, which I've had for 8 years now, and is with the same HMO I had prior to retiring. I'm pretty healthy, but have never been denied a service or test thst my primary care doctor recommended. But the truth is, with health insurance as in all of life, one size does not fit all. Kai's mom for the win!
It's great to hear that you've found a plan that works so well for you! You're absolutely right - health insurance needs can vary so much from person to person.
We are on a group Medicare advantage plan from my job that mimics our PPO plan that I had while working. We have not noticed any difference from the prior insurance. 😊
Glad to hear! Group Medicare advantage plans are typically better than individual plans.
Do I have to wait till January to change the Medicare Advantage Plan ?
yes
Maybe mention that in some states you can fairly freely change to any medigap plan without underwriting at any time
Such as my state, Massachusetts.
Yes, we did that in another video. I'll make a "card" to show that.
The freedom to switch Medigap plans in 4 northeast states comes with the highest premiums in the nation for that privilege too!
@@jbsimmons54 If that is true, it is news to me.
@@douglasjensen8986
Many financial planners reviews and articles state it. It's private insurance. Govt forced them to do something they didn't want to do and it has a cost and the premium cost at the top of the scale was it. It's always money. You don't get something for nothing. Likewise, the other extreme of the almost unanimous inability to get Medigap back once it's dropped due to extreme underwriting and cost was the price paid for 100% acceptance for all first time Medigap applicants. So in essence it's a guarantee almost you'll ever drop it unless you can no longer afford to pay it as the rates have been increasing hand over fist. Time to nationalize it all to single payer.
I think I agree with Ann's mom. I turn 65 next year and will need to make this decision soon.
I'm on Medicare due to permanent disability. I also have Medicaid as a secondary. I like this channel because in time, if I no longer qualify for the Medicaid secondary, I want to know what is out there for me. Unfortunately, I have to wait until I'm 65 (5 more years!) before I can even get a supplemental plan to my Medicare. My biggest concern about an Advantage plan is the limited physicians in the group. I'm in a small town, so it's even worse for me because I have to travel a long distance for specialists. The last thing I need is the insurance company telling me I have to travel to a specialist included in their group that's 3-4 hours away. I prefer to have more power than the insurance company and also, not have to always have a referral for a specialist. Some specialists require them, even on Medicare, like neurologists and doctors like that. I'm definitely team #Ann'smom! :)
Thank you for sharing your experience! Navigating Medicare and Medicaid can be challenging, especially with the limitations in your area. It's great to have a community where we can learn and support each other!
I have a Medigap Plan and I would never consider an Advantage Plan. Because of health issues my Medigap plan has paid thousands of dollars that Medicare would never pay.
Both my wife and i are currently on a plan G medigap plan. She has several chronic conditions (hypertension, diabetes, etc). I do not. Due to rising costs, im considering switching me to an advantage plan. My PCP, local hospital, dentist, optometrist, and numerous specialists are all "in network". Im a little leary but,the cost savings would help us out at the grocery store. Im thinking she'll stay on her current plan.
It sounds like you're making a thoughtful decision based on your circumstances. Thank you for sharing!
Medigap plans it's too expensive for me, Medicare Advantage is right ✅️ for me
Thanks for sharing!
@kciis your welcome, thank you
I have a Medicare Advantage Plan. PPO. My network is huge. My PCP, specialists, Optometrist, Dentist, Pharmacies are all in my network. I have had no issues so far and I've been on it a couple of years. My Dad had one as well and he had great coverage as well. I have been very happy with it so far. And I am saving a lot of money every year.
Pray you never get seriously sick.
@@OroborusFMA In my family we live a long, long time. My grandfather 104 on Dads side. My Dads Mom 98.My Dad Passed at 98 years of age. My grandpa on Moms side 96. My Mom's Mom 94. My Mom is 91 and isn't going anywhere anytime son. I myself am currently 66 and feel like a 20 year old. I workout everyday. I eat right. And I also have hospital indemnity insurance on top of my main insurance. I think I'll be okay.
Wow, that's an incredible family history! It sounds like you have the longevity genes on your side. Keep up the great work with your health and fitness!
@@OroborusFMA -- remember, an Advantge plan covers EVERYTHING that Original Medicare does, and usally even more. Over 10 years on Advantage plans, I've spent under $3500 in copay / coinsurance for a total knee replacement, (minor, thankfully) Cancer surgery & chemo, 5 prescriptions for Paxloid, a Tier 5 COVID treatment that will cost $796 per prescription out of pocket on any separate Part D plan, (was $0 on Advantage plan),
What I do give up is the ability to go to any hospital nationwide for any treatment, but the $40k I've saved in premiums has been worth it. My Aetna plan has "in-network" providers nationwide, so I'm not without options while traveling in the USA.
@@OroborusFMAI have had a Medicare advantage PPO plan for 10 years. I have had breast cancer, a total knee replacement and rotator cuff surgery with NO issues getting care. I have selected the doctors I wanted with no referrals. No one denied me care. Your assessment of Medicare Advantage Plans is sorely lacking.
On medigap and happy with it😊
Many of the insurance carriers that handled the advantage plans are the same insurance companies that we all had while we worked 40 or 50 years at companies. For example, Blue Cross and Blue Shield with large networks of doctors in all 50 states. Many of the advantage plans have PPO planswhich allows the patient to choose whatever or whoever Dr. Hospital they want to go to and because these networks are so large in my state, I have a wide range of selection. I can also go out of state for specialized care, but my out-of-pocket would be higher.
My brain/personality type is with Ann's Mom, but the reality of my bank account makes me side with Kai's Mom.
The cost savings is what changed my mind.
So I eventually caved and switched to a Advantage plan last year.
It is a lot of work to wade through the plans, but your advice to choose by process of elimination is good advice.
Seriously choosing a MA plan is like gambling and playing on your hunches!
yes. I'm changing. Premiums go from 290.00 per month to ZERO
The focus for 2025 should be Drug Coverage changes whether you have a standalone Part D or MAPD. With the Inflation Reduction Act cap of $2000 MOOP for 2025, lots of folks will shocked if they’re taking Tier 3 and 4 drugs. Read those ANOCs carefully. Winners are folks taking very expensive drugs. Losers are those taking just one or two Tier 3 or 4 drugs with a maximum deductible of $590.
Thank you for sharing!
My boyfriend has Medicare Advantgage Plan through Bluecross / Bluechip…He was just diagnosed with cancer and co-pays, meds are climbing…Before he got sick the planned worked great for him..He now needs something with low or no co-pays and cheaper medication prices..He doesn’t care about the perks like gym memberships etc…I’m trying to help him but I don’t know which plan will work….What should he do? Now Chemo is starting once weekly, radiation everyday for 7-8 weeks, the co-pays going everyday for the radiation, the going there 2x weekly for fluids/hydration….I think he might lose everything keeping up with this..He has a treah in his throat, a feeding tube so that’s more $$$$$…He is 65, lives in RI….Any suggestions would help!
Medicare Advantage is like being in jail because you can’t travel out of state, they offer dental
But denied my dental cleaning and had to pay
Out of pocket, that was enough for me to make my decision to change back to regular Medicare
and supplement Insurance.
@@plazas1242 I have heard that about some Advantage dental and vision plans - they are very minimal coverage. The thing I hate is that in most states it is difficult to switch back to Medigap unless you do it very quickly after first choosing Advantage. I have had an Advantage-like employer plan which delayed approval for testing for a severely impinged spinal cord and requiring PT first, all of which nearly caused me to permanently lose the ability to walk before finally being able to have surgery. Now I am choosing Medigap because of that.
I have a Medigap Plan N plan very happy with the plan
My wife is considering Plan N. May I ask what you are having to spend on insurance for 1) Drugs (Part D); 2) Dental care ; 3) Vision care
These are significant medical expenses for most people, and require a lot of time to shop for the right policies (as we're finding out)
Im right with the mom with the guy....advantage medicare better..reg, money
Thank you! Kai.
But my wife is also correct! 😆
I will NEVER allow a for-profit insurance company make decisions about my health care treatment.
Thank you for sharing your strong stance! It's so important for everyone to prioritize their health and make informed choices.
My partner was hospitalized with pneumonia. His advantage plan pushed him out of the hospital bf he was able so he went into a rehab center but the plan forced him out bf he was able to care for himself. I have an opportunity to switch to medigap and will probably be doing that for my future needs.
My question is simple, how the MA with the government's subsides around $1,000 per month per enrollment is less flexible and with less benefits than MGap plan that is completely self-funding and costs (adds all the plans except the gym card to equivalent MA) around $300 - $500 per month per enrollment? Am I missing something here?
The answer is also simple: the insurance company (MA plan) is trying to keep as much money as possible.
However, with a Medigap, the insurance company has no control because they are not the primary. And by law, they have to pay no matter what as long as Medicare accepts the bill.
Because the insurance company has to pay, no matter what on a Medigap AND it is guaranteed renewable (meaning they cannot drop out like Medicare advantage plans can), that’s why the cost is more.
What do these plans do after 60 days Hospital or skilled nursing facility as a inpatient. My wife only has 16 days left on Medicare. I'm worried about medical debt
Sorry to hear about your wife . That must be a horrible thing to go through. Does she have only Original Medicare and nothing else? Yes so, then she will have to pay per day after day 60. Days 61-90: (of each benefit period): $408 each day.
It seems like an Advantage PPO is better than a HMO for ability to go anywhere, yeah? Not a Medigap, but Advantage PPO seems like it has the advantages of a Medigap and no disadvantages of a HMO. Could you please expound about this? Anybody?
The PPO plans do not have the same freedom as Medigap. Remember, your doctor still has to accept the terms of conditions of the PPO.
With my gap plans, the the doctors do not have to accept the terms and conditions of the Medigap. The doctor only needs to accept original Medicare. The Medigap has to pay the remaining balance based on the plan you choose.
Excellent presentation thank you
You're welcome and thanks for watching!
I have tried to shift back to Medigap and it is easier said than done. Also, if Oz gets his hands on Medicare, all this may be mute.
Odd you say all plans cost the same ? I have talk to 3 different brokers and all gave me major price differences for suppl. N or G in my area. Of coarse advantage plans are cost 0 month to month in my area accrding to the brokers. So why the differences in price on N or G from 3 brokers?
I’m not sure where in the video that we say all the plans cost the same. In the video we specifically gave a range. Could you let us know where we said this?
@@kciis Right at 2:57 in the video. You said wether you go thru the insurance company, you or another broker price is the same. I find this is not true. I have been getting much different prices between different brokers, medicare and direct thru the insurance companies?
Loved you video. Since now, I know terminology. Couple years I was confused with these words.
I wish you repeated:
Supplemental plan=Medigap.
Advantage plan=Meicare plan C (which is not Medicare, it is a private managed care from Private companies, for PROFIT)
One thing they didn't mention. It is my understanding that an average Medicare Advantage patient cost Medicare more than the average patient with traditional Medicare and a Medigap policy. One of the reasons we chose traditional Medicare and a Medigap policy to to help preserve the Medicare program.
As a provider Medicare Advantage is a nightmare, Mayo Clinic won’t take it, Vanderbilt won’t take it. So many providers won’t take it and we are phasing it out. As opposed to Medicare regular with supplements the Advantage plans are private and providers can choose not to take it. The paperwork burden for Medicare advantage plans is a nightmare getting things approved is a real headache so we tell the patients you’ll pay more but you’ll get more access to the best care because the best care places are dropping advantage . they don’t have time to deal with the paperwork And get paid the same as the regular Medicare plans.
What will happen if the government ever makes MA all people can afford?
My question is about the denials from MAdvantage plans. I hear the percentage of denials and appeals is going up each year. How huge of a pain are those issues?
It really depends on the area and the type of plan. Also, too, more more people are choosing Medicare advantage plans simply due to the lack of pensions and the cost of living going up upon retirement.
So the statistics are going to go up compared to before. When we first started, we sold Medicare advantage plans perhaps 20% of the time but now it’s about 50% of time.
Enough that Congressional hearings have been held due to the issue.
Love your advice, thank you!
Is it possible that someone signs up for an advantage plan only to discover that no doctor in the network is accepting new patients as primary care physician? Or are you guaranteed to be accepted? Are you allowed to change plan type if this happens?
Your first question is a tricky one. It could be if the doctors write the contract with the advantage plan, but not necessarily whether the network is limited.
There might be another guarantee they should ride if they have advantage plan for the first time in the last 12 months of Part A or 65 years old. But this is for the Medigap.
That person does have the open enrollment right now, though to another MAPD or plan type.
Are you sure that person is searching all the doctors? The problem is Advantage plans don’t necessarily promise doctors within a certain radius. So there might be no doctors near her, but maybe a doctor 30 minutes away. Unfortunately, that is the nature of Advantage plans in certain areas.
Kai & Ann Chung
We are in Missouri and we do the local hospital sponsored Medicare advantage program and it is wonderful
Since being on the plan for two years, I have had two stents put in and my wife had a major tumor removed and our total cost between those was about $1200 so just do the math. It makes sense in our area to do Medicare advantage
We have two major hospitals in our area and the one we use because of the Medicare advantage being sponsored by them services all are possible needs
In addition, we both get $100 a month for over-the-counter medicines that we buy at Walmart so after a few months of loading up on that now we load up for our kids who are adults with families of their own
Hard to beat premium that’s for sure
Your presentation is very good and very much needed thank you
Thank you so much for sharing your experience! It's encouraging to know that people are finding real value in these programs. Your kind words about the presentation mean a lot to me!
What happens if you get sick away from home/local hospital, like on vacation?
@@pearlsandpowertools547 -- all Advantage plans, by law, provide for Emergency / Urgent healthcare nation wide at In-Network prices. But you'd have to travel back to your home region to get extended care "in-network". Remember, the In / Out of network garbage is only related to Part B covered doctors & services
@@pearlsandpowertools547 when we go to Arkansas, as an example to visit our son and his family, then the plan would cover anything that would come up
Obviously, you wouldn’t go there out of state or wherever to get a scheduled test or something like that
Nor would you want to because that wouldn’t make any sense to do if you’re visiting someplace but if you went to the ER because it’s an emergency, then you would be covered
I have Plan G, and I have two pensions from Boeing, one as a machinist and one as a technician, each about $1200 per month. But what does “hybrid” mean when it comes to pensions? I have never heard that term.
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Playlist 1
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Playlist 2
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If it sounds to good to be true it is.
If you can afford plan g,do it.
Relax and enjoy the piece of mind being able to choose whichever doctor you choose.
I take a number of prescriptions and I read the max deductible for advantage plans can be up to $7000 annually, while with regular Medicare it's capped at $2000. That seems fairly significant to me. And a free gym membership, which everyone touts, despite the fact most people I know aren't using it, isn't going to make up that difference. 🙄
If I am on a Medigap plan and I have seen over the years that my premium has increased very high compared to other Medigap plans in my area, can I switch my Medigap plan to another provider during the open enrollment season? If yes, can I switch to a different Medigap plan? For example, G to N? Thank you.
If you change from G to N you will have to go through underwriting.
Do advisors like yourself get a higher commission when someone picks the Advantage plan vs part B plan? I'm 66 and still working, i get countless calls and mail on how the advantage plan is so much better.
Yes, agents do get paid higher commission with MA plans which is why it is so often pushed. However, we hope that most agents will choose a plan that fits the need of the client rather than focus only on commission.
Very informative video. I will be turning 65 in December next year, so I'll need to sign up in June. When you talk about cost in this video, it sounds like you are only talking about the premiums. What about the average total cost, when adding in deductables, co-pays, etc. Doesn't the higher premium of a medigap plan get offset by lower costs for service?
Yes, you are right and that’s what we mentioned in the video when factoring in all the years, you also saved on the Medicare advantage plans. The total cost can be argued on both sides and that’s why my mother chose the Medicare advantage plan side.
However, the type of care and the freedom to choose should be the main deciding factor for Medigap.
I hope this helps.
Medicare Advantage is NOT Medicare and Medicare Advantage is NOT an advantage!
TRUTH! The word Medicare should not even be attached to an advantage plan.
Thank for this information 😊
You are correct I must be dumb to deal with someone like you I pray for people like you just try to live your best life but for sure it will never be as good as mine peace out
Around 10 m into video you have a rules chart you say is linked below yet I don’t see it anywhere. I only see other video links
Hi there, its called Medicare Workbook which you can find right above the first video link. Hope that helps!
I would like the rule chart I can’t access it
We had FEHB but now Postal System is moving us to PSHB - have never heard of Medicare supplement plan but I knew we didn’t want an advantage plan but Postal system seems to be pushing those now - I assume our GEHA plan took care of what you would call supplement plan - any insight into FHEB and now PSHB - the Postal System has been VERY SLOW coming forward with any info
The federal health benefits have always been pushing the Medicare advantage plans. For the most part, they usually only have HMO and PPO. If you go to the opm.gov website you will be able to see the plan details and you have to look at your state to see what’s available. I would recommend calling OPM to navigate the website.
Come on people Plan G or plan N the disadvantage plans are dropping out of less profitable areas. If you want your health care in the hands of an insurance company mainly focused on profit and not your health go ahead. It’s almost criminal 👎👎👎
Thanks for sharing your thoughts.
No problem 😉
Very well explained.
I'm in NY so Plan G & N are very expensive. I wanted Plan G to avoid HMO's & PPO's and so I wouldn't owe anything after my deductible. I currently have a high deductible G plan because it was more affordable but not sure yet what the cost will be per month for 2025. My current plan D will double in premium per month cost for 2025.
Unfortunately NY is a very TOUGH state for insurance carriers. You made the right choice. Regarding your Part D, you might enjoy explaining why your Part D plan went up so much.
Thanks for watching!
2025 Medicare: What To Do & Avoid for Open Enrollment
ruclips.net/video/NITtse8QOVY/видео.htmlsi=Hgs8gqKH6MOJgRLS
Kai & Ann Chung
Advantage - Florida prices medigap are outrages. And, I have the VA.
I believe if your Medigap plan stops participating as Medicare supplement the insured can enroll with another insurance carrier without going through underwriting.
I think you might be referring to Medicare advantage. Medigap plans must be guaranteed renewable by Federal Law. You can take a look at the choosing a medigap policy booklet by Medicare.
Yes, Medicare allows switching to Medigap without underwriting, IF your MA plan's contract isn't renewed or they go out of business or pull out of an area.
The best time to buy a Medigap plan is when you first enroll in Medicare. It must be in the first 6 months, and insurance companies cannot turn you down. I am livid Social Security did NOT inform me I must apply in the first 6 months of receiving my Medicare Card. I feel Medicare need to send a letter explaining this in the same year you will turn 65 prior to your birthday.
I completely understand your frustration. It’s crucial for everyone to know these important timelines, and clearer communication from Social Security would definitely help.
There are some Medigap plans that you have to apply for that can turn you down, just like regular insurance.
Great video BTW!
I really appreciate your kind words! Your support means a lot to us!
I think there are co-payments with the medigap plans which add up.
Depends upon the type of medigap plan. For example, there are no co pays for the HDG plan that I am on, but there is a deductible. I can pay the deductibles with tax free funds from my HSA account.
Yes, that can be the case which is why we recommend reviewing the details carefully for each plan.
I was told I can do an Advantage plan for a year and that I can switch back to my Medigap the following year.
It depends. You will have to go through underwriting. Depends on how you can answer the health questions. Some won't even take you with a diagnosis of fibromyalgia.
@ hmmm. I kind of thought that was not going to happen. Thanks!
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second daughter. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks.
@@ЕленаФирсова-ц6м Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. *MARGARET MOLLI ALVEY*
@@EliaszPass Oh please I’d love that. Thanks!
*MARGARET MOLLI ALVEY*
Lookup with her name on the webpage
"Limited" is a relative term. Almost all doctors and providers in my 7 county area accept my 4.5 star CMS-rated MA HMO plan, which has existed since the beginning of MA plans. And I'm 73 and on no Rx. meds; I don't go to doctors often. I only wish it was a PPO plan, but otherwise, it's nearly perfect FOR ME. But one size does not fit all. Btw, I have never been denied any care by the HMO or doctor in my 8 years with it, nor was my mother, who had this same HMO MA before me.
Thank you for your response. If you’re referring to HMO‘s, we just say limited in the sense that you have to follow the list of doctors. Some networks are a huge depending on where you live. However, I still limited to the plan’s network. I hope this clarifies it.
My Brother has been on a Medicare Advantage plan from his previous long time employer for about the last 3-4 years- Are You saying that He can't change into a Medicare/Medigap Plan next year?
Also My brothers MA plan started out at around $300 a month total like 4 years ago- Seems like it's network driven like an HMO instead of him being able to go anywhere for treatment like regular Medicare/Medigap
If your brother has been dropped from his employer plan, he may qualify for a Guaranteed Issue Right where he would be able to sign up for Original Medicare. It would be best to reach out to a Medicare expert to help him find the best plan for his needs. Our number is 408-502-708 should he want to reach out to us. Thanks! ~ KCIIS Team
What risk? The max payout is only 5500. Over time you save thousands with MA if not paying medigap premiums. My mom died 100 mother in law 97. No problems with their MA plans. My wife's state teachers retirement has MA and it works well
MA is great if you put, let say $200 into an interest tax free ROTH IRA when you are still healthy at 65 (long before is better). You will accumulate the money you would have spent yearly into a plan G + dental, vision and Rx in a couple of years. That money will grow exponentially until you need it. After 5 years you would have $15,000.00 at 8%, and you will be ahead of all those plans. Knowing you could also use that money for anything else, and withdraw the interest of that account after the 5 year rule.
You're mom is smart
Which mom? 😆
If money is no issue Medigap may be for you. Personally I really like my Medicare Advantage.
Thanks for sharing!
What medigap companies should i choose from
I would spend some time comparing plans with an independent agent. You can also find some ratings of different plans on line but information is very limited. Try Forbes Health/Best Medicare Supplement or Kaiser family foundation ratings. You must enroll within 3 months prior, to 3 months after you start Medicare A&B. Whatever your premium is at the start you can expect it to increase exponentially as you age. The bigger companies are usually cheaper because they have a larger customer base but smaller companies might provide better service. If you have ongoing health issues that will require lifetime care a Medigap plan will cover you very well, giving you peace of mind.
There are so many factors to consider when choosing a medigap plan. Feel free to reach out, and we can help you find the one that best fits your needs. 408-502-7080
Thanks for another helpful and fun video!
We love Gracie.
Thanks! Gracie says she appreciates the love, but she's still waiting for her fan club to form.
I'll gamble on Advantage.$290.00 per month for medigap supplement and increases every 6 months. If I get an $8,000.oo medical bill with advantage, I'll just pay it at 25.00 per month
The guy said the truth 😂
Thank you! Kai.
But my wife is also correct! 😆
You nailed it
Are you licensed in Ohio?
What are the medical questions you need to answer to switch?????
Each company is different. That’s why we did not post it. Also, the company can change the health questions every year.
Lastly, we do not recommend banking on the health questions as to whether you should buy Medigap now or not.
Even if you might pass now, your health might change and also the health questions might change.
what if
Thanks for siding with Ann's mom!
I subscribed... great info.
Awesome, thank you!
If I read it correctly,, you indicated that Medigap plans are guaranteed renewable. I don't think that is true. Just as we can choose which plan we want, a company can choose whether they are in business or not.🤔
You can take a look at the Choosing a Medigap policy booklet from Medicare. Look under the guarantee renewal in the glossary.
Thanks.
The dental and other extras will never be as rich as the 'stand alone' plans.
One word as to why I have a Plan G Supplement:
______CANCER___________
Cancer is a tough battle, and the last thing you want is to battle with the insurance companies!
What about a cancer policy?
Exactly, the longer you live the more likely cancer is coming and with breast cancer in my family, I would never touch an advantage plan advantage plan is great if nothing really ever happens, but most of my patients regret their advantage plans once the crap hits the fan
As long as your MA is a PPO you're ok.
Not if you ever need rehab, physical therapy, home health care or prolonged hospital stays. Of course every plan is different, but in general all advantage plans are risky
@8aNda1d The only risk to Medicare Advantage you may have to pay max payout of $5500 but you'll be paying $2000+ in premiums each year for gap coverage. Savings is huge over time fior advantage.. Whatever Medicare covers Advantage covers too as far as rehab etc. Horror stories of MA are way overblown.
@AS-tt8ui depends on how sick you get. If you are hospitalized more than one time in a year you will be responsible for that EACH time. Not so with a supplement. Monetary issues are one thing but delays or denials of tests and medical treatment is a greater problem, considering it delays your treatment. It's insurance, you get what you pay for and hope for the best. Only at our age the best may be behind us. So had you rather pay $2000 a year. Or risk paying $5500 2 or possibly 3 time a year. Not to mention copays for every Dr's visit, diagnostic test and procedure
@@8aNda1d You're wrong. You don't pay $5500 multiple times a year. One you reach $5500 for the year everything is covered for the rest of the year. The savings is huge over time that's why the percentage of MA plans keeps rising. My mother (100) and mother in law (97) both had MA with no problems. The delays and denials are not as common as they would like you to believe.
@@AS-tt8ui just stop. I said in my original comment not all plans are the same. But EVERYTHING I said is true. And if denials of MA prior authorizations weren't a big problem, I'm sure congress would not be holding multiple hearings on exactly that issue. As a matter of fact a bill is up for a vote now to holding those companies responsible. So just stop.
If Advantage plans are so good, why is the commission twice as much to sell an Advantage plan. It is because Advantage plans are crap.
You’re absolutely right and that the advantage plans do pay more commissions. But the main reason is because advantage plans take longer to sell, having to look up the doctors and go through all the benefits. Medigap plans can be sold in half the time.
The for sure, Medicare advantage plans are definitely crap for many people, including Ann’s mom. But my mom loves her Advantage plan and after having the Medigap after for one year, she dropped it and went back to the advantage plan.
To each their own. But we appreciate your comment nonetheless.
Kai & Ann Chung
So you have people working for you?
The biggest problem I have is that my community rated Medigap plan has bern increasing the premiums _quarterly._ In 5 years it has gone up 100%!!!!!! Started out at $215/mo and now it's $430/mo. Highway robbery!!! The first two years, it increased annually. The third year, semi-annually, and now quarterly! I though they were supposed to be fixed for a year with only annual increases. Your quotes of $100-$200 premiums are laughable. If I hadn't listened to the advisor who sold me my Medigap plan, I would be with BCBS/AZ for $125, which is what my friends picked 5 years ago. They are stunned to see what my premiums are! I can't switch due to that damn questionnaire thay ask you when you try to. I don't want MA. I've heard enough horror stories of being financially raped if you get real sick and run out of money...
Medigap plans are highway robbery! And it will only get worse. Years ago, it didn't used to be this way.
I’m surprised you have a community rated plan, but it also depends on what state you’re in too. Some states will have more increase than others.
The quote of $100-$200 a month is is typical for someone that is 65 to 75 and for most states. However, depending on your ZIP Code, and also your age it could definitely be more.
@kciis
State is AZ. Old zip was 85022. New one is 85308. But mailing address zip is 85080. Just turned 70.
OK, it’s obvious you have people working for you and then when they secure a plan they get compensation and you probably get a cut of it as well. I know it does not come out of our pocket. I’m just saying….
I live near Ft. Lauderdale, Florida. My parents have advantage but I’m going to take the supplement. However, I think I live in a good area for advantage plans.
I’m concerned if I want to live somewhere else in the future I may be disappointed in Medicare advantage plans.
I hate to pay so much money since I don’t go to the doctor that often.
Thank you.
Yes, that's something to consider if you were ever to move, which is also a reason why Ann's mom decided on a Medicare Supplement Plan. Wish you the best and thanks for supporting our channel!
Is this a computer voice or a real British person?
Are the pronunciations British-accurate (such as 'haw-stings' for Hastings)?
Kayden Parkway
Ok?
It's all about the government. 😢
Adolfo Walks
🤔
3:10 minutes of incredibly lame self promo and chatter before content begins, with another 5+ min of useless chatter. VERY BASIC content.
Excellent presentation thank you
Glad it was helpful!