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  • #46
    Originally posted by Hatton View Post
    I am beginning the confusing journey of selecting a Medicare plan now. My non-frugal gut tells me this is not a place to skimp. I am basically healthy but I fear Medicare Advantage could really lead to terrible costs if I got sick and needed a center of excellence. I likely will opt for Medigap plus part D for maximal flexibility. this will run my costs up. I have a few months to really research this.
    I would definitely not do an advantage plan. Theres a reason they're advertising all the time on television and UHC stock keeps going up..

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    • #47
      Originally posted by Hatton View Post
      I am beginning the confusing journey of selecting a Medicare plan now. My non-frugal gut tells me this is not a place to skimp. I am basically healthy but I fear Medicare Advantage could really lead to terrible costs if I got sick and needed a center of excellence. I likely will opt for Medigap plus part D for maximal flexibility. this will run my costs up. I have a few months to really research this.
      Definitely not where you want to skimp is health insurance. Everyone can be in perfect health until they're not. I reached 50's with essentially no annual medical costs save preventive care and then a cancer diagnosis. Boom, several consecutive years of over $100k medical charges annually. But excellent employer insurance meant only a few thousand out of pocket annually.

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      • #48
        Originally posted by spiritrider View Post
        I would point out a few considerations with Medicare Part C Advantage plans.

        Medicare Advantage plans have low/free premiums, but that does not necessarily mean they are much lower cost or even lower cost than Medicare Supplement plans. There are co-pays and cost sharing for the majority of services including daily hospital costs. The maximum 2022 out-of-pocket limit is $7550 in-network and $11,300 out-of-network.

        I know several family members, friends and acquaintances who routinely hit one or both OOP limits. They found out the hard way the downside with Medicare Advantage plans. Once they become less cost effective because of declining health. You can not pass medical underwriting to cost-effectively switch back to traditional Medicare Parts A, Part B, and a Medicare Supplement plan.

        Getting back to the main point of this thread. With Medicare Part C Advantage plans you are still responsible for paying Medicare Part B premiums and IRMAA surcharges. Although, some plans may rebate you some amount of the base Part B premium.

        *Define wealthy: IRMAA 2022 Tier 1 starts at $91K S and $182K MFJ.
        Advantage plans from a personal standpoint have many potential disadvantages. Once out of the supplements, you might not get back in either. For a few, they might work out.

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        • #49
          Advantage plans amount to the ultimate HMO. No physician or hospital locally eligible for me. Nearest hospital in Denver. Good luck if you travel or have another house geographically distant

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          • #50
            Hatton
            Moderator
            Hatton - depends. Our Univ Cali hospitals all participate in MAP HMO plans and that's our plan if we remain in California post retirement.

            The hard part is if the MAP HMO plans available to you don't have that extended network as an option as it may appear in your situation. --- come on over to Cali!

            HMO plans are very aggressive in doing their Medicare Wellness Visits and getting those HCC codes up for Medicare $$$$ -- huge money attached to those codes and that's their main incentive and way to offer all those wrap around services.

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            • #51
              Originally posted by afr View Post

              Right, but I’ve been paying a Medicare tax for the past 30 some odd years for exactly what?
              So grandpa could get anything they wanted by flashing the red white and blue card....
              And because govt cant run squat effectively, but thats neither here nor there.

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              • #52
                Originally posted by Hatton View Post
                I am beginning the confusing journey of selecting a Medicare plan now. My non-frugal gut tells me this is not a place to skimp. I am basically healthy but I fear Medicare Advantage could really lead to terrible costs if I got sick and needed a center of excellence. I likely will opt for Medigap plus part D for maximal flexibility. this will run my costs up. I have a few months to really research this.
                Medigap policies SHOULD be a commodity.
                https://www.medicare.gov/supplements...digap-policies
                Plan Al to N is the problem. The insurance companies simply price it.

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