I think the tiers thing within a Part G plan is entirely a creature of your state law. So any advice needs to be state-specific.
I suspect it amounts to the same coverage at each tier, but with tiered pricing based on their payout experience. So call it “annual underwriting lite even if you don’t change plans”.
For those still undecided about a Medigap vs Advantage plan, I humbly offer this YouTube clip by John Oliver from a few nights ago. (YouTube clip from Last Week Tonight segment, 31 minutes long.)
Even given the comedic leanings he does bring up some good points.
tl;dr he’s pro Medigap, thinks the Advantage programs are a bad deal, and shows that the insurance lobby is not doing America any favors. Still, if you haven’t decided–or want validation on your Medigap decision–I think it’s worth watching.
This is what my friends are experiencing right now:
They are married and both retired. She retired about a year ago; until then, they were on her insurance through her employer. When she retired, they signed up for an Advantage plan.
He became real sick a few months ago. His diabetes became very acute, and he received a diagnosis of liver cancer. He just had his big toe amputated, which necessitated a stay in a physical therapy facility. Guess what? The Advantage plan will pay for 21 days; if he isn’t released by then, they’re on the hook for 220 bucks a day. With the help of the facility, she’s appealing that decision, but there’s no guarantee that her appeal will be granted.
Don’t buy an Advantage plan.
This is why I asked about my sister’s plan (in Louisiana). It’s an advantage plan, so it has a $0 deductible, but it covers everything like a supplement plan. I’m not about to move to Louisiana to get it, but it does tick me off that I’m paying over $3600 per year (including Part D) for something she gets for free.
My elderly mother (77 years old) keeps get daily calls trying to switch(buy?) a Medicare Advantage plan,
She tried them in the past but they were too much of hassle, She now just has straight Medicare/Medicaid.
But the calls keep coming…
We lost hubsters medigap plan some years ago. He has lots of issues so I believe underwriters would laugh, and stamp DENIED on an application for a new medigap. However, the advantage plan he is on now is ending 01/01/26. So he suddenly qualified for gauranteed issue again. As of the above date he will be covered under a medigap g again … thank dog.
You almost certainly have access to Advantage plans where you live, and many will be just as good as what you describe your sister as having.
No, the Advantage plans are not nearly as good here or, from what I understand, in most other states. I did such a deep dive into this in my state that the SHIP person I spoke with thought I was a broker. (Many thanks to John T and others!) If there were Advantage plans in all states as generous as the ones in my sister’s state, few people would ever get a Supplement plan.
She and I both paid about $200 for a TKR. The difference–besides the freebies she got–was that I’d paid over $2400 over the 12 months prior in premiums, while she’d paid $0.
There must be something different about the way Louisiana handles Medicare. I wish I knew what it is.
@JohnT , thanks for this thread. I will turn 65 later this year, and I’m just starting to engage. I have a really dumb question. What’s my first step?
Talk to your state health insurance information program:
I tried that. They weren’t super helpful. Well, the woman i spoke with did answer some specific questions i had. Enough that I’ve decided i ought to sign up as soon as I’m eligible, and not hang onto corporate insurance. (The key factor is making sure my husband stays insured until he’s eligible, as he has cancer and it’s treatable, but incredibly expensive to treat.) But he’s only 18 months younger than i am, so if he can keep his insurance until i turn 65, he can rely on cobra to bridge the gap. I looked up the COBRA benefits at his current employer, and they run 18 months.
(Obviously, if he loses insurance before i turn 65, I’ll both apply for my own corporate insurance and revisit my plans.)
As I understand it, that’s the norm for COBRA: one can be on it for up to 18 months after leaving the employer.
Yes, it is. But i also checked my husband’s plan, just to be certain.
I’m turning 65 in August and will have been on my former employers COBRA insurance since I retired last August. Paid for it with my HSA and very satisfied with my decision.
Come August I plan on moving overseas permanently, I don’t intend to ever come back, not even to visit. That said I will purchase an expat insurance plan and not sign up for Medicare B, D or any other supplement. I know this will raise concerns with some but I am willing to live (or not live) with it.
I feel that the US has become over rated in many areas and I have been overseas quite a bit, so I’m not concerned. I’d rather self insure an for minor things that are much cheaper and buy a policy that covers hospitalization.
I have spoken to my doctor about this and he says I am in very good health for a man my age and says that I seem to have a solid plan. Wish me luck!
I wish you good luck. And if you are sure you want to leave the US for good, it makes sense to sell insurance that works wherever you plan to end up. Old sick people often aren’t very mobile, so you really need to be covered locally to you.
Anything he says takes precedence over anything I say, but I found Medicare for Dummies very useful when I went on 10 years ago. It walks you through all the options.
I did everything online, but it takes a while to look through the Part D options, each with the drugs they cover, and comparing all the Medigap coverages. The thing I remember when I did sign up for the additional coverages was the nice people from the companies reading me all the very lengthy disclaimers and stuff. When you sign up, do it in a comfortable chair.
Also, sign up as soon as you are able to, so you won’t feel pressed. That lets you take a break if you feel overwhelmed, and there is enough going on so nearly everyone is likely to feel overwhelmed.
Sorry team, but as I mentioned earlier, I’m no longer in the Medicare field and do not think that I have the expertise anymore to provide detailed advice.
But to @puzzlegal’s question, your first step is to see what Medicare supplement plans are available to you. Go to www.Medicare.gov, select “Medigap” plans, then “Find a plan”, enter your zip code and review your options.
Do not get a Medicare Advantage plan unless you’re flat-assed broke and cannot sustain the Medigap premium.
How early can i sign up?
It all depends on your situation. From the link provided you.