The SECRET to global travel Medicare, Save $$
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- Опубликовано: 5 фев 2025
- Figuring out the alphabet soup of Medicare, especially when you want to travel full-time, is a real challenge. Steve went through all the Medicare plans to determine how to get global Medicare coverage while traveling the world AND save money while avoiding penalties.
But does he also have to get a global medical policy? We share everything Steve had to figure out and his final decision on the Medicare plan he picked and how much his global medical insurance costs him when using Medicare. Of course, plans vary by state and each person's situation is unique, but we share secrets that no insurance agent will tell you about.
For those still interested in Genki, check out www.genki.world/with/eatwalklearn
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I've had PPO in my professional career my whole life - love it! Great this works for out of country as well.
Omgosh - this is what I have been looking for - some type of international coverage for particularly emergencies and/or hospitalization. I've wanted to try out living in SE Asia for awhile, but being almost 71 now & with some controlled heart issues, I felt it wasn't wise to do this without some hospitalization insurance coverage. I so, so appreciate all the investigating you have done that can be beneficial for so many of us. I will be discussing this with my local insurance company where I meet with an advisor that is very knowledgeable of Medicare. I didn't even bring up this as a possibility regarding international coverage with them as I just assumed there is nothing available through Medicare. Thank you so much!
We hope you get everything you're wanting!
Even though we’ve got a couple of years before it’s our turn, we watched your video with rapt attention! Insurance is so painful to figure out and Medicare is in a world of its own. Well done in figuring out what appears to be a fantastic solution! We’ll share your video with a few friends trying to figure this out as well. As always, thanks for sharing all the research and effort you put into your nomad choices! ❤
I pay double the Part B premium because it’s income-based, and I am still maintaining my AARP UHC supplemental plan which contains language about covering a certain dollar amount (lifetime) out of the country. Who knows if that will pay out if needed?! I have dropped my drug coverage because I could save 50% by using GoodRX. Currently am traveling full-time without additional coverage but am willing to pay for urgent overseas care if necessary assuming in most cases I could fly back to get care. I am leery of an Advantage plan, and will not be maintaining a residence continuously in the U.S. My one previous experience was a medical emergency in Portugal for which I was charged nothing. You are right that the international plans are very expensive over 65. I am 70.
Thanks for the comments. There's so much uncertainty, I'm still not 100% confident that I made the right decision.
FYI, there is no penalty for not signing up for Part B or Part D. The penalties only apply IF and when you sign up later. So if you are never going to return to the US you will not owe anything. IF you do return later, the Part B penalty is 10% for each 12 month period you were not signed up and not paying. 12 months is used, instead of each year, because the open enrollment is Jan-Mar (starting the following month). If you were to return in June and want to sign up because you need medical service, you would have to wait to sign up in Jan and your coverage would start in Feb. The Part D (prescription plan) penalty is 1% for each month you were not covered.
So, do the math to see what works best for you.
Example, if you are out the country and don't sign up and return 5 years later and want to sign up, you will pay 50% more for the current, at that time, part B premium. Remember, Part B premiums increase about 4-6% each year.
For the 5 year example, the Part D penalty would be 60% of the “national base beneficiary premium” which is currently $34.70. The penalty is rounded to the nearest $.10. For this case, $34.70 X .6 = $20.82 rounded to $20.80 plus the Part D premium you sign up for.
Part A is free for anyone that paid in and qualifies (usually 10 years work/taxes), so sign up for that when you turn 65.
Hope this helps.
Thank you for the details. I haven't made the decision to leave the US forever, so declining B and D now seemed too risky. If I choose to have permanent residency in another country then I can drop my B and D coverage.
What about the re-underwriting and pre existing conditions after 5-10 years of not having medicare?
Blue Cross Blu Shield Advantage plan and Alainz annual for international w/emergency evacuation - probavly us it for US if you have to be flown or helicoptered from accident. - expensive for even short flight
My strategy. Stay on original medigap without ever having to worry about underwriting. Underwriting is impossible if you ever have illnesses such as cancer and the like. Since you are not opposed to paying for care abroad (rightly so), you just buy an evacuation insurance in case of life threatening illnesses or other complications. These are quite affordable. You can also consider buying an annual travel policy from the big insurance companies such as Allianz which are also not too expensive. This is what I do and I am on medicare currently and travel a lot.
Thanks for the comments. Excellent suggestions!
@@vvjkumar good suggestion! I'm looking at Global Rescue plus total care. Not bad if you buy their 5 year plan and it covers you anywhere. I'd still need medical in whatever country I'm living in of course but Global Rescue would get me back there for care and also arrange any specialist visits and imaging I need on an emergency basis beforehand.
Thanks for all the information. I definitely experienced a higher premium for travel insurance this year after turning 65.
Please clarify, you stated now you will only be paying the 135 for your advantage plan, you also will be paying g for Part B, correct?
Thanks so much, Chris and Steve. As a senior on social security and ready to retire abroad, this is most helpful and inspiring. As us nomads say, "see you down the road."
Thanks for the comment. Look forward to hearing about your adventures and meeting you in the future. If you're a Facebook user, please find our Nomad Life Goup there.
Thank you very much for sharing this video. It is a very important topic and it is complicated. This was very helpful for me. Good on you doing the painstaking work and vlogging about it. When I checked into global health insurance, the company wouldn't cover my knees. So, I declined. I got a headache. Then, I put it aside. LOL I still have some time to figure things out while my house is on the market. 😊👍🏽❤️
Thank you for the comment. It just shouldn't be this hard to understand.
@EatWalkLearn You're welcome! Exactly! 😊👍🏽
Great video! I turn 65 in late 2025 and have been wondering how to handle Medicare while traveling and/or in the US. Totally agree the options are complicated and expensive, not to mention impossible to navigate. I knew about Part B, D, N/G but not C give-back plan so now I'm going to look into that as my situation is identical. Thanks for the comprehensive explanation - it is much appreciated!!
Thank you for your comment. I changed my mind so many times before finding out about Advantage Giveback plans. I used Senior Savings Network to help me sign up.
Great info thanks for doing the research
You're welcome, happy to share!
Thanks for doing the research and sharing what you found. Will keep this in mind when I reach Medicare age. ❤
You're welcome!
Thanks for watching and for the comment. Let's just all stay healthy!
Curious, do you have to be an AARP member of good standing to use/qualify for the AARP United Healthcare Advantage Plan?
Sorry, we don't know. Best to check with AARP
Thanks for all the great info- my husband just signed up for Medicare B-
Wonderful!
It took me 3 months of research and I changed my mind many times. I was surprised to find a plan that cost less than the $185 Part B premium and it includes Part D too.
You use "Medicsre + Part B" should be "Medicare A and B". Medigap G/N (and some others) all have limited emergency international coverage with a lifetime gap. But in some states, such as MA, some of the plans offer international "same as US" coverage, so if it would be covered by Medicare in the US, it is covered by the medigap plan. But that might involve a move to MA!
Each state is so different!
You said the type of plan but what was the actual plan name and company, please? Thanks!
The plan is AARP United Healthcare Advantage Giveback. I recommend using the medicare.gov website to see all the plans available to you.
I am in the same situation like you, Steve. Do you still have a US home base to return to for medical treatment? Have you considered the high start up cost and living expenses in the US?
I have to look for a couple weeks for a doctor who will accept Medicare because other doctors always have enough patients. Also I understand in some cases getting an appointment can be weeks away.
It makes me nervous to think about actually using medical services in the US. We've had so many good and affordable experiences in other countries. We don't have any doctors established in the US, so when the time comes, we'll have to figure out an affordable place to live and doctors that we can get in to see.
@@EatWalkLearn Yes, it is a challenging and risker puzzle of healthcare coverage, particularly with Medicare also in the picture
Thank you. This was a very informative video. You didn't mention another health insurance option: establishing residency in a foreign country and paying for their insurance. This option is more than likely to be far cheaper than Medicare.
You're right. We're full-time travelers and not seeking residency elsewhere ATM.
@@EatWalkLearn We plan to travel full-time for a couple years and then pick a European country as a home- base to travel from. Unless I'm mistaken European healthcare covers you when you are to out of the country as well. Happy traveling.
@@berg8970 European healthcare covers you in Europe. I think some plans have what they call "top up" insurance you can buy (speaking France here) that may include travel anywhere. When I move, I'm still planning to get travel insurance for trips outside Europe if I can't find coverage with a top-up.
I like your vlogs but this one should have been simpler. List the Medicare sections and define what is covered: Part A, B, C, and D as well as a supplement or medigap policy. I concede that insurance companies do not make things simple, and they are not looking out for you. Thanks for the vlog.
Thanks for your feedback
Great video. Thanks for the information. I have been outside the US for almost 3 years. First 1.5 years I elected not to have Insurance. Then got coverage while we were in Mexico(Mexican policy). Now we are slow traveling and I have Cigna Global. It's ok at about $190 a month(63 years old) but I know what's coming with the Premium increase. I always thought there was a time limit you could be out of country with these Medicare Advantage plans. Is there no out of country time limit on the plan you selected? Sorry if I missed it.
Most plans state a time limit, but this one doesn't. AARP UHC Giveback Plan
@@EatWalkLearn I don't think they anticipate many traveling as much as you. You may want to call them and verify that... And if for some reason they cancel your plan, I think you're allowed to join the regular Medicare supplement plan automatically with no underwriting?
I agree about talking to the insurance company directly with questions. I don't know about my rights if UHC cancels the policy. Something to research.
@@EatWalkLearn would love if you would share what you learn about your particular AARP policy. i also saw this policy, but i'm stil la few years from medicare.
It is a complex, difficult decision. I have noticed that some of the Medigap plans are now offering limited international emergency coverage, similar to many Advantage plans. My mom and dad were both on an Advantage plan, and never had any of the trouble we hear about in the horror stories. However, as I’m faced with this decision for myself, I am concerned that the Advantage companies seem to be getting more aggressive about service denials. Not sure what my decision will be, but need to make it soon.
I feel your pain. I changed my mind 5 times before settling on an Advantage plan. Since I'm healthy it's easier to make that decision.
We went with traditional. So far no regrets. It might cost a little more, but we prefer to be able to go to any doctor we want and we do not like having the insurance company between us and the provider. We want the course of action to be determined by us and the doctor, and not some insurance company.
Thanks for bringing Genki to our attention. But from your video, it's not clear to me if you just pay $135 for Medicare that includes global travel insurance which is not limited to 6 months maximum stays abroad like some Advantage Plans Or you're paying $135 + another payment to Genki. Can you please clarify and sure it's gonna be different for everyone. Just wanna know exactly how much monthly payments you're making for everything to cover you while traveling.?
Thanks for the question. Sadly, I'm not covering everything. $135 will be my Medicare premium which includes emergency care outside the US. Any other medical costs outside the US will be paid out-of-pocket, but if needed we will travel back to the US and use the Medicare coverage.
@EatWalkLearn Thanks for taking the time to respond. This is a topic that I'm also wrestling with. When I saw your video title, I thought you'd found a secret hack. I'm heading back to the drawing board....however, thank you!
My brain exploded. I wonder what the copay will be?
Did it explode in network?
Ha ha good one steve!
Hey, I started looking into this and I found some info that says if you're out of the country for longer than 6 months, they will cancel your Medicare advantage plan. So you guys aren't out of the country longer than 6 months?
That's an interesting find. I'd like to know where you saw that. I can see them denying coverage outside the US, but also if you return?
Please provide your source for that, because I don't believe it is true. I'd be surprised if "they" can just cancel the Medicare plan you have sigjned up for if you decided to travel full time year after year (your US citizenship has not been renounced nor your social security in jeapardy if you retire overseas). But please give your source if I am wrong.
Careful please. Choice between Supplement and Advantage has potential lifetime consequences. Do your own deep research and consider speaking with an independent broker and certifed financial planner.
Yes. There's a lot of people giving advice. That's why I changed my mind 5 times before making a decision.
So you're not concerned about the 20% gap? How about the drug plan? That costs money too, no? And does that have international coverage? Hypothetically, if you were to relocate to somewhere like France that would cover you for healthcare and you never planned to return to the US, would you continue to pay US Medicare??
More good questions. Advantage plans are completely different than gap plans that cover the 20% and the one I chose includes drugs. It took me 3 months of research to fully understand all the options, and I still don't feel 100% confident. Since we don't stay in a country for more than 3 months I haven't seriously looked into using another countries system as I age. But I have heard of others who live in countries outside the US and never plan on using their Medicare benefits. What makes me nervous is the penalty for declining part B and D, so I'm paying the premiums.
@EatWalkLearn so if your advantage plans includes drugs, they won't charge you late enrollment for D if you don't apply now?
@@CJ-PhotoYes. In my experience Advantage plans replace AB and D. I used medicare.gov to see all available plans
First I have ever heard you can have Part A (Hospital) Part B (80% outpatient) and Part D (Drug) & Medicare Advantage Part C at the same time
it's an alphabet soup for sure