thank you for explaining this so well. I had an advantage plan for years. Overall I liked it. However, I was paying $10,000 a year out of my pocket for things not covered and copays. I switched to a local senior supplement plan (monthly fee) and straight Medicare- Oh my - so much less paperwork in the mail and no co-pays. That plan covers the hospital system providers that I prefer. The advantage plan works well for my disabled adult son who also has Medicaid.
Research your medicare book you receive each year and compare the plans in the back of book. Check out of pocket expenses. Call the plans directly if questions. They list phone numbers. You don’t need a third party as they can be confusing to you. Advantage plans are great for lower cost. The only disadvantage is the network part. You need to check your clinics and doctors acceptance of what plans they use. No referrals are used as in the past - at least in FL. Never had a hassle with this with my advantage plan. If you travel a lot, then a regular medicare coverage may be best.
I work for a very large employer and the Advantage plan I'm considering really does not have a lot of these problems. The $168 premium is well worth it. It is basically very similar to the group coverage I have now. I was told that my advantage plan should be considered "deluxe" I get the impression though that most Advantage plans are not this good. I feel pretty fortunate and wish everyone had this kind of access.
My mother's retired from a school district. They recently enrolled her in this MAP - she didn't have a choice. At 85 she was forced into it so that's what sucks the most. She lost her Primary Care Dr. and other items she was used to.
I have a Medicare Advantage plan that is specific to a large company that I retired. it is a specific plan with different deductibles and prescription payments. I have been happy with the plan and have not had any problems. it is a ppo plan and does not have in network and out of network differences.
Explained very well. But I always have some distrust of both government programs and insurance companies. How much does medicare pay each month to the insurance company to take over coverage in an advantage plan?
The last company HMO plan I was on was terrible. The Dr network consisted of physicians from the bottom of the barrel. My last primary care dr was an infectious disease specialist (imagine sitting in his crowded waiting room) who was finally barred from practicing medicine by the ama. He was the best on the list IMO. That was 20 years ago and since then, I have considered it better to not carry insurance, pay cash instead.
I investigated medigap plans. Premiums were 350-500 per month, in other words $4,000-$5,00 annual premium for a private insurer plan. I can get an Advantage plan with $5,000 cap (this insurance pays everything above $5,00) for $1500 annual premium. The premium for medigap may be higher in New York b/c they consider EVERYONE eligible regardless of price-existing condition and regardless of age. (When I turned 65 I was only eligible for medigap for 6 months one time opportunity but declined). Apparently allstates must offer initial enrollment for the aforementioned 6 months. After that insurance companies have the option to reject based on pre-existing condition so check your state to see how they handle this.
I think your presentation on Medicare Advantage plans was well-balanced and not slanted necessarily to MA plans or Medigap plans. Knowledge and understanding of how the various plans work is critical before selecting the one that is right for you. I only regret that MA plans are so heavily promoted by some companies without disclosures of the limitations. That is why it may be well worth consulting with an expert such as you before choosing a plan. If you know the restrictions and limitations of a MA plan and potential costs on the back-end and that is acceptable to you, then a MA plan may be right for you. For myself, I chose a Medigap plan and I have never regretted my decision.
I love BoomerBenefits, but I found this video to be heavily slanted toward Medigap plans. Danielle never mentioned the medical (not talking hearing/vision/dental) services covered by an Advantage plan that Medicare doesn't cover. Also, many Advantage plans have zero copays/deductibles/coinsurance for commonly used services including prescription drugs (she never mentioned that many Advantage plans include drug coverage, which a Medigap user would have to buy separately. Also not mentioned is what a PPO plan does - it lets you go outside your network (sometimes for a higher copay) if you want.
Also many advantages include over the counter allowances, transportation, gym memberships, and sometimes chiropractic and accupuncture treatments. Advantage plans are a great option if a medigap plan is not obtainable for someone. In most cases it will almost always be better than just sticking with original Medicare by itself.
Even when a Medigap plan is available, it can cost a lot more than an Advantage plan, and if your medical needs are low it can save a lot of money. I don't recommend Advantage plans for people who are already heavy users of medical services or who move around a lot. The plan I am on costs $59/mo (includes Part D) - my PCP visits are free, the medications I use are free, I get an annual physical free (Medicare doesn't cover these), and since I have a PPO plan I can see doctors outside my network if I want (I recently had thyroid surgery out of network - my payments for this are minimal.) And yes, I get free gym membership, $100/yr in OTC supplies, $200/year for glasses, discounts on hearing aids and lots more. If I should ever hit the out-of-pocket maximum, I can afford it, but most years my expenses are lower than Medigap premiums would be, and I get more out of it.
@@SteveLionel you must be a Medigap insurance salesman, because, the truth hurts. There are so many gotchas in Medicare advantage that even the most savvy of consumers will get screwed. Do you want your insurance company to decide what's medically necessary, or your doctor? Your insurance company is only interested in their bottom line, not your bottom.
@@SteveLionel that’s great, sounds like your plan is working well for you. Both types certainly have their place based on individual needs and budget. My mother is on a medigap plan and it definitely has served her well with her complicated medical history with cancer. My father has an advantage plan that also works well for his needs.
Yes but that is this year. The Insurance company can change coverages or even cancel altogether if they so desire. They can raise costs without regard to your ability to pay. It can be good for perhaps a year or so but if they then drop you ( which they can ) or the costs go sky high and you decide to go back to Medicare, you may find then you may not be able to get back that easily. You for sure will be required to show proof of insurability .( a physical exam). Just saying, buyer beware!
I believe that if your still working after age 65 and have a high deductible health plan and are contributing to an HSA those pretax funds can be used to pay the premiums but for some reason those funds can not be used for medigap premiums.
It seems the only upside with Medicare Advantage is lower premiums than Medigap plans. But the downside of MA is far worse than the downside of Medigap coverage. MA is good for relatively healthy people who are able to stay "in network"
A complex confusing subject and I am just starting out in it at 65 this year. I was with Kaiser for many years and was pleased with their service. Comparing Kaiser HMO medicare advantage premiums to regular medicare, Kaiser premiums are only about $60-$70/mo cheaper than a middle cost medigap policy and a part D policy combined. Difference is, medigap has minimal out of pocket costs while kaiser has $3400 our of pocket as of 2021. BUT, part D drug plans that go along with medigap plans are such cheezy sketchy policies that one can be out of pocket by at least $6500 and maybe more depending on what kind of costly meds you may come to need. Part D is real crap! They can constantly changing what and how much they cover for any drug - rotating out of full coverage for whatever drug is costing them a lot in any given year. So, you get no predictable coverage which is the whole point of insurance to hedge you against extreme catastrophic expenses. Same with the advantage plans which can change coverage of all kinds and raise out of pocket as high as the $7K limit whenever they want. One feature she did not mention is that, if you are in an advantage plan and get a major expensive long term illness, you may not be able to switch back to the low out of pocket medigap coverage. Medigap insurers can exclude you from coverage due to certain pre existing conditions. So, if you are generally healthy, an advantage plan can save you a bit of money on premiums but if you gat a major illness, which is inevitable in old age, you could face larger out of pocket costs up to the allowed $7K+ maximum. If your illness is long term and expensive then you may face that out of pocket forever if you cannot return to regular medicare with its slightly more costly premiums but far less exposure to major out of pocket costs - except via crappy Part D coverage. Go figure! Pick your poison. Medicare is a pathetic excuse for a single payer system which works well all over the world and costs 30-40% less than our system and everybody get blanket coverage for everything. Fed up only 2 months into medicare
All of those things are theoretically possible, and there are small changes each year. However, I have the same HMO Medicare Advantage Plan that my now-deceased mother had many years ago, and it still operates well, drugs (generic) are still quite cheap, and my mother was never denied care at any hospital, rehab facility, or for any prescription she needed or any doctor. (All in area doctors, pharmacies, hospitals accept this HMO in all of it's forms, and nothing much has changed since 1982, when this HMO started in my area.) Same for me, thus far. IMO It's most important to only pick a 4 or 5 star Medicare Advantage HMO; the CMS rating tells you a lot. And remember, by law all Medicare Advantage Plans MUST cover at least what original Medicare covers. Many offer more.
@@commonsense6967 Good to know, I just signed up with Clover health advantage its backed by Walmart going to check if its rated by CMS yet because its new, Thanks for your insight.
Ok, I'm in GA & looking at Medigap insurance, I thought that was suppose to cover deductibles & co-pays, but the ones that are in my area, the Medigap itself has a deductible before it will pick up & that's with a costly premium. I was really thinking about doing Medicare w/ Medigap, but that would be a dumb idea, especially when it doesn't help with medicine or dental. I guess it's too each its own & what your individual needs are. But I have read so much information & watched videos until I'm blue in the face. So the government has screwed us once again!
Thanks to a law called MACRA folks that are new to Medicare cannot buy the medigap plans that cover the Part B deductible. This is a small, once per calendar year deductible; for 2023 it is $226. Don’t let this turn you off medigap plans if you otherwise like them because the plans that do cover the Part B deductible have an annual premium difference even higher than that Part B deductible. You save money just paying that deductible yourself.
Yes, you can. But if you are outside of your 6-month Medigap Enrollment Window, you will likely need to answer health questions to make this change. So, you could be denied depending on your health conditions.
I really love the content you posted, it is always super helpful and informative. Keep posting such an amazing videos, I love watching all your videos.
@@tobygoodguy4032 That's NOT entirely accurate! To go from a M. A back to Gap plan. You have to go through insurance underwriting. Plain English, you have to answer medical questionaire. And the Gap insurance companies CAN REJECT you if your health is a problem. Unlike when you turn 65 you get a free choice of a Gap plan WITHOUT health questionaire.
@@ncboltong Nearly EVERY TIME the M. A companies will give you barely dental, hearing and vision. Just enough for basics. Example, dental M. A will cover cleanings or extractions fillings that stuff. You need dentures, root canal or crown and you are S. O. L. If you want those 3 items TRUELY covered have your insurance broker look at Manhattan life plans.
@@Retiredmco Which means, its BETTER to sign up for Gap FIRST, when you're in better health and when you fall apart, you take Advantage to keep out of bankruptcy. (That was the point of all this - namely, which is better to select FIRST.)
@@tobygoodguy4032 Not really, how you figure you go bankrupt on a gap plan? It combined with A and B covers you 💯%. G you only pay very small yearly deductible. N you pay yearly deductible and very small co pays, like $20 max. On M. A is how you go bankrupt! Why? Because of the VERY LARGE TOTAL OUT OF POCKET EACH AND EVERY YEAR. Look it up.
📌Compare Medicare Advantage to Medigap plans: boomerbenefits.com/medicare-advantage-vs-medicare-supplement/ 📌Join our exclusive Medicare Q&A Facebook group to have your questions answered by Danielle and her team: facebook.com/groups/BoomerBenefits 📌New to Medicare? Attend our FREE Medicare 101 Webinar: boomerbenefits.com/medicare-101-webinar/
Hi Lew, you can disenroll from your Medicare Advantage plan during this years Annual Election Period (AEP). The AEP begins on October 15th and ends on December 7th. During this time, you can drop your Medicare Advantage plan and return to original Medicare. If you have a built-in Part D plan with your Medicare Advantage plan, you will be able to enroll in a new Part D plan during the AEP. Here is more information: boomerbenefits.com/medicare-annual-election-period-2020-6-things-you-can-do-and-1-thing-you-cant/
Im in Aetna gold prime advantage plan and I've had NO issues...I pay $35 for a specialist...other drs are no copay...I do have a couple meds that have a $47 copay and every injection...aka..nerve blocks n steroid injections are 100% covered...it's been great for me...the problem with switching for me is that I would have to take a "physical" or they'd have to look at my record from my advantage plan n decide not to approve me...all this stuff is Very confusing and idk what to do for 2022 as "They" are saying my specialist is no longer in my plan yet my dr. says he is...it's stressful indeed! I get different answers from everyone..soooo idk what Im going to do yet. Try to find a straight answer would be nice. Why do they have to make it all so confusing!!!??? Otherwise my advantage plan has been great!
I found this video to be VERY slanted towards insurance companies that offer Medicare Advantage Plans. I did my research, after being enrolled in 3 different advantage plans, and enrollment in Medigap Plan F was a lifesaver. Even though the premiums are low or no cost, the "nickel and diming" for copays from advantage plans can amount to a lot of unexpected expense that persons on a limited income cannot handle. If these expenses involve a hospital stay - or multiple hospital stays and long term illnesses such as cancer - the copay costs far outway, e.g., are very much more, than even some of the highest monthly premiums. An advantage to a Medigap plan, such as G or F, is that the premium is paid and the additional costs are minimal if any. Also with advantage plans, the insurer and not Medicare becomes the primary insurance and therefore, these insurance companies can deny necessary procedures, especially X-rays and tests, that are required for good diagnosis and treatment. I found this to be the case with ALL of the advantage plans I had and in every case, my diagnosis and treatment caused me to be on medications, in sub-standard medical and rehabilitation facilities, and therefore in excruciating and debilitating pain and suffering for a long, long time - over 4 years. Yes, I have to pay additional for prescription, eye, and hearing coverage. With patient assistance programs and other low-cost coverage options, the out of pocket for premiums is still much much less than with an advantage plan. There is a doctor-hospital-rehabilitation pipeline that is governed by insurance companies - I got to choose great care and a great facility with my Medigap plan. Cost is not everything for older Americans - the quality of care is most important. I don't like advantage plans and encourage ALL of my network to be very aware in what they choose for the reasons I've stated above. Of course, you wouldn't consider these reasons very high priority if you have money - low-income persons get low quality healthcare from advantage plans. I have found this repeatedly as my family and friends are overwhelmed with $2000-$100000 medical bills from serious illnesses and wonder why. Baby Boomers gives advice which works in the "pipeline". You need to widen your vision to be more inclusive.
Hello. This video is specifically focused on Medicare Advantage plans. However, you'll find plenty of other videos on our channel that discuss Medigap plans. For example, you can find both a pros and cons video on Medigap and Medicare Advantage plans here: ruclips.net/video/CvbyYVn8gCQ/видео.html ruclips.net/video/mL1Kr9quZrk/видео.html
thank you for explaining this so well. I had an advantage plan for years. Overall I liked it. However, I was paying $10,000 a year out of my pocket for things not covered and copays. I switched to a local senior supplement plan (monthly fee) and straight Medicare- Oh my - so much less paperwork in the mail and no co-pays. That plan covers the hospital system providers that I prefer.
The advantage plan works well for my disabled adult son who also has Medicaid.
Research your medicare book you receive each year and compare the plans in the back of book. Check out of pocket expenses. Call the plans directly if questions. They list phone numbers. You don’t need a third party as they can be confusing to you. Advantage plans are great for lower cost. The only disadvantage is the network part. You need to check your clinics and doctors acceptance of what plans they use. No referrals are used as in the past - at least in FL. Never had a hassle with this with my advantage plan. If you travel a lot, then a regular medicare coverage may be best.
I work for a very large employer and the Advantage plan I'm considering really does not have a lot of these problems. The $168 premium is well worth it. It is basically very similar to the group coverage I have now. I was told that my advantage plan should be considered "deluxe"
I get the impression though that most Advantage plans are not this good. I feel pretty fortunate and wish everyone had this kind of access.
It's been a year since you posted. Just wondering if you're still happy with your decision to go with your Advantage plan? It's all very complicated!
My mother's retired from a school district. They recently enrolled her in this MAP - she didn't have a choice. At 85 she was forced into it so that's what sucks the most. She lost her Primary Care Dr. and other items she was used to.
@Christopher Jaxtyn get a life - a real one
I have a Medicare Advantage plan that is specific to a large company that I retired. it is a specific plan with different deductibles and prescription payments. I have been happy with the plan and have not had any problems. it is a ppo plan and does not have in network and out of network differences.
Explained very well. But I always have some distrust of both government programs and insurance companies. How much does medicare pay each month to the insurance company to take over coverage in an advantage plan?
About $1000, I have read.
The last company HMO plan I was on was terrible. The Dr
network consisted of physicians from the bottom of the barrel. My last primary care dr was an infectious disease specialist (imagine sitting in his crowded waiting room) who was finally barred from practicing medicine by the ama. He was the best on the list IMO. That was 20 years ago and since then, I have considered it better to not carry insurance, pay cash instead.
I investigated medigap plans. Premiums were 350-500 per month, in other words $4,000-$5,00 annual premium for a private insurer plan. I can get an Advantage plan with $5,000 cap (this insurance pays everything above $5,00) for $1500 annual premium. The premium for medigap may be higher in New York b/c they consider EVERYONE eligible regardless of price-existing condition and regardless of age. (When I turned 65 I was only eligible for medigap for 6 months one time opportunity but declined). Apparently allstates must offer initial enrollment for the aforementioned 6 months. After that insurance companies have the option to reject based on pre-existing condition so check your state to see how they handle this.
Depends on the plan! Mine is rather high priced and is very comprehensive
we are glad you are happy with your plan!
I think your presentation on Medicare Advantage plans was well-balanced and not slanted necessarily to MA plans or Medigap plans. Knowledge and understanding of how the various plans work is critical before selecting the one that is right for you. I only regret that MA plans are so heavily promoted by some companies without disclosures of the limitations. That is why it may be well worth consulting with an expert such as you before choosing a plan. If you know the restrictions and limitations of a MA plan and potential costs on the back-end and that is acceptable to you, then a MA plan may be right for you. For myself, I chose a Medigap plan and I have never regretted my decision.
I love BoomerBenefits, but I found this video to be heavily slanted toward Medigap plans. Danielle never mentioned the medical (not talking hearing/vision/dental) services covered by an Advantage plan that Medicare doesn't cover. Also, many Advantage plans have zero copays/deductibles/coinsurance for commonly used services including prescription drugs (she never mentioned that many Advantage plans include drug coverage, which a Medigap user would have to buy separately. Also not mentioned is what a PPO plan does - it lets you go outside your network (sometimes for a higher copay) if you want.
Also many advantages include over the counter allowances, transportation, gym memberships, and sometimes chiropractic and accupuncture treatments. Advantage plans are a great option if a medigap plan is not obtainable for someone. In most cases it will almost always be better than just sticking with original Medicare by itself.
Even when a Medigap plan is available, it can cost a lot more than an Advantage plan, and if your medical needs are low it can save a lot of money. I don't recommend Advantage plans for people who are already heavy users of medical services or who move around a lot. The plan I am on costs $59/mo (includes Part D) - my PCP visits are free, the medications I use are free, I get an annual physical free (Medicare doesn't cover these), and since I have a PPO plan I can see doctors outside my network if I want (I recently had thyroid surgery out of network - my payments for this are minimal.) And yes, I get free gym membership, $100/yr in OTC supplies, $200/year for glasses, discounts on hearing aids and lots more. If I should ever hit the out-of-pocket maximum, I can afford it, but most years my expenses are lower than Medigap premiums would be, and I get more out of it.
@@SteveLionel you must be a Medigap insurance salesman, because, the truth hurts. There are so many gotchas in Medicare advantage that even the most savvy of consumers will get screwed. Do you want your insurance company to decide what's medically necessary, or your doctor? Your insurance company is only interested in their bottom line, not your bottom.
@@SteveLionel that’s great, sounds like your plan is working well for you. Both types certainly have their place based on individual needs and budget. My mother is on a medigap plan and it definitely has served her well with her complicated medical history with cancer. My father has an advantage plan that also works well for his needs.
Yes but that is this year. The Insurance company can change coverages or even cancel altogether if they so desire. They can raise costs without regard to your ability to pay. It can be good for perhaps a year or so but if they then drop you ( which they can ) or the costs go sky high and you decide to go back to Medicare, you may find then you may not be able to get back that easily. You for sure will be required to show proof of insurability .( a physical exam). Just saying, buyer beware!
I believe that if your still working after age 65 and have a high deductible health plan and are contributing to an HSA those pretax funds can be used to pay the premiums but for some reason those funds can not be used for medigap premiums.
If you are enrolled in either Medicare Part A or B you cannot make new contributions to an HSA.
They are good depending on where you live.
It seems the only upside with Medicare Advantage is lower premiums than Medigap plans. But the downside of MA is far worse than the downside of Medigap coverage. MA is good for relatively healthy people who are able to stay "in network"
Yes, the networks and prior authorizations need to be considered as that can affect access to care.
A complex confusing subject and I am just starting out in it at 65 this year. I was with Kaiser for many years and was pleased with their service. Comparing Kaiser HMO medicare advantage premiums to regular medicare, Kaiser premiums are only about $60-$70/mo cheaper than a middle cost medigap policy and a part D policy combined. Difference is, medigap has minimal out of pocket costs while kaiser has $3400 our of pocket as of 2021. BUT, part D drug plans that go along with medigap plans are such cheezy sketchy policies that one can be out of pocket by at least $6500 and maybe more depending on what kind of costly meds you may come to need. Part D is real crap! They can constantly changing what and how much they cover for any drug - rotating out of full coverage for whatever drug is costing them a lot in any given year. So, you get no predictable coverage which is the whole point of insurance to hedge you against extreme catastrophic expenses. Same with the advantage plans which can change coverage of all kinds and raise out of pocket as high as the $7K limit whenever they want.
One feature she did not mention is that, if you are in an advantage plan and get a major expensive long term illness, you may not be able to switch back to the low out of pocket medigap coverage. Medigap insurers can exclude you from coverage due to certain pre existing conditions. So, if you are generally healthy, an advantage plan can save you a bit of money on premiums but if you gat a major illness, which is inevitable in old age, you could face larger out of pocket costs up to the allowed $7K+ maximum. If your illness is long term and expensive then you may face that out of pocket forever if you cannot return to regular medicare with its slightly more costly premiums but far less exposure to major out of pocket costs - except via crappy Part D coverage. Go figure! Pick your poison. Medicare is a pathetic excuse for a single payer system which works well all over the world and costs 30-40% less than our system and everybody get blanket coverage for everything. Fed up only 2 months into medicare
All fine points, many of which we mention in other videos.
All of those things are theoretically possible, and there are small changes each year. However, I have the same HMO Medicare Advantage Plan that my now-deceased mother had many years ago, and it still operates well, drugs (generic) are still quite cheap, and my mother was never denied care at any hospital, rehab facility, or for any prescription she needed or any doctor. (All in area doctors, pharmacies, hospitals accept this HMO in all of it's forms, and nothing much has changed since 1982, when this HMO started in my area.) Same for me, thus far. IMO It's most important to only pick a 4 or 5 star Medicare Advantage HMO; the CMS rating tells you a lot. And remember, by law all Medicare Advantage Plans MUST cover at least what original Medicare covers. Many offer more.
@@commonsense6967 Good to know, I just signed up with Clover health advantage its backed by Walmart going to check if its rated by CMS yet because its new, Thanks for your insight.
I tried to get a medigap plan and was denied. My only option is an advantage plan.
Ok, I'm in GA & looking at Medigap insurance, I thought that was suppose to cover deductibles & co-pays, but the ones that are in my area, the Medigap itself has a deductible before it will pick up & that's with a costly premium. I was really thinking about doing Medicare w/ Medigap, but that would be a dumb idea, especially when it doesn't help with medicine or dental. I guess it's too each its own & what your individual needs are. But I have read so much information & watched videos until I'm blue in the face. So the government has screwed us once again!
Thanks to a law called MACRA folks that are new to Medicare cannot buy the medigap plans that cover the Part B deductible. This is a small, once per calendar year deductible; for 2023 it is $226. Don’t let this turn you off medigap plans if you otherwise like them because the plans that do cover the Part B deductible have an annual premium difference even higher than that Part B deductible. You save money just paying that deductible yourself.
Seems that Advantage Plans aren’t for me.
As I can afford a part G plan I agree, see my comment above-based on a different you tube video on Medicare advantage plans.
Can you go from an Advantage plan to a medigap plan
Yes, you can. But if you are outside of your 6-month Medigap Enrollment Window, you will likely need to answer health questions to make this change. So, you could be denied depending on your health conditions.
I really love the content you posted, it is always super helpful and informative. Keep posting such an amazing videos, I love watching all your videos.
To me, the only advantage of Part C over Medigap is because Advantage plans roll in Part D.
Other than that, there is no advantage.
@@ncboltong Aside from the bling benes, the way I understand the racket is you can go from Gap to Advantage but you can't go from Advantage to Gap.
@@tobygoodguy4032 That's NOT entirely accurate! To go from a M. A back to Gap plan. You have to go through insurance underwriting. Plain English, you have to answer medical questionaire. And the Gap insurance companies CAN REJECT you if your health is a problem. Unlike when you turn 65 you get a free choice of a Gap plan WITHOUT health questionaire.
@@ncboltong Nearly EVERY TIME the M. A companies will give you barely dental, hearing and vision. Just enough for basics. Example, dental M. A will cover cleanings or extractions fillings that stuff. You need dentures, root canal or crown and you are S. O. L. If you want those 3 items TRUELY covered have your insurance broker look at Manhattan life plans.
@@Retiredmco Which means, its BETTER to sign up for Gap FIRST, when you're in better health and when you fall apart, you take Advantage to keep out of bankruptcy.
(That was the point of all this - namely, which is better to select FIRST.)
@@tobygoodguy4032 Not really, how you figure you go bankrupt on a gap plan? It combined with A and B covers you 💯%. G you only pay very small yearly deductible. N you pay yearly deductible and very small co pays, like $20 max. On M. A is how you go bankrupt! Why? Because of the VERY LARGE TOTAL OUT OF POCKET EACH AND EVERY YEAR. Look it up.
📌Compare Medicare Advantage to Medigap plans: boomerbenefits.com/medicare-advantage-vs-medicare-supplement/
📌Join our exclusive Medicare Q&A Facebook group to have your questions answered by Danielle and her team: facebook.com/groups/BoomerBenefits
📌New to Medicare? Attend our FREE Medicare 101 Webinar: boomerbenefits.com/medicare-101-webinar/
How do you get out of an advantage plan
Hi Lew, you can disenroll from your Medicare Advantage plan during this years Annual Election Period (AEP). The AEP begins on October 15th and ends on December 7th. During this time, you can drop your Medicare Advantage plan and return to original Medicare. If you have a built-in Part D plan with your Medicare Advantage plan, you will be able to enroll in a new Part D plan during the AEP.
Here is more information:
boomerbenefits.com/medicare-annual-election-period-2020-6-things-you-can-do-and-1-thing-you-cant/
I have no problem with my Advantage plan. No out of pocket on anything including referrals, drugs, Urgent care. But I pay the $148 a month for Part B.
Which company plan do you have ?
@@gregorysmith7839 yes which company plan do you have?
Im in Aetna gold prime advantage plan and I've had NO issues...I pay $35 for a specialist...other drs are no copay...I do have a couple meds that have a $47 copay and every injection...aka..nerve blocks n steroid injections are 100% covered...it's been great for me...the problem with switching for me is that I would have to take a "physical" or they'd have to look at my record from my advantage plan n decide not to approve me...all this stuff is Very confusing and idk what to do for 2022 as "They" are saying my specialist is no longer in my plan yet my dr. says he is...it's stressful indeed! I get different answers from everyone..soooo idk what Im going to do yet. Try to find a straight answer would be nice. Why do they have to make it all so confusing!!!??? Otherwise my advantage plan has been great!
Ps..yes I do pay my medicare premium every month of $148....but I can get that back in January of 2022 which is $1776.00.
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I found this video to be VERY slanted towards insurance companies that offer Medicare Advantage Plans. I did my research, after being enrolled in 3 different advantage plans, and enrollment in Medigap Plan F was a lifesaver. Even though the premiums are low or no cost, the "nickel and diming" for copays from advantage plans can amount to a lot of unexpected expense that persons on a limited income cannot handle. If these expenses involve a hospital stay - or multiple hospital stays and long term illnesses such as cancer - the copay costs far outway, e.g., are very much more, than even some of the highest monthly premiums. An advantage to a Medigap plan, such as G or F, is that the premium is paid and the additional costs are minimal if any. Also with advantage plans, the insurer and not Medicare becomes the primary insurance and therefore, these insurance companies can deny necessary procedures, especially X-rays and tests, that are required for good diagnosis and treatment. I found this to be the case with ALL of the advantage plans I had and in every case, my diagnosis and treatment caused me to be on medications, in sub-standard medical and rehabilitation facilities, and therefore in excruciating and debilitating pain and suffering for a long, long time - over 4 years. Yes, I have to pay additional for prescription, eye, and hearing coverage. With patient assistance programs and other low-cost coverage options, the out of pocket for premiums is still much much less than with an advantage plan. There is a doctor-hospital-rehabilitation pipeline that is governed by insurance companies - I got to choose great care and a great facility with my Medigap plan. Cost is not everything for older Americans - the quality of care is most important. I don't like advantage plans and encourage ALL of my network to be very aware in what they choose for the reasons I've stated above. Of course, you wouldn't consider these reasons very high priority if you have money - low-income persons get low quality healthcare from advantage plans. I have found this repeatedly as my family and friends are overwhelmed with $2000-$100000 medical bills from serious illnesses and wonder why. Baby Boomers gives advice which works in the "pipeline". You need to widen your vision to be more inclusive.
Hello. This video is specifically focused on Medicare Advantage plans. However, you'll find plenty of other videos on our channel that discuss Medigap plans. For example, you can find both a pros and cons video on Medigap and Medicare Advantage plans here:
ruclips.net/video/CvbyYVn8gCQ/видео.html
ruclips.net/video/mL1Kr9quZrk/видео.html
How can they have $100,000 medical bills if the most out of pocket is let’s say $7000?
Please work on your voice creak. It has me anticipating the next one instead of listening to what you actually have to say.