Medicare- for those who are moving from full time to part time work.
1. You are being “forced” to get Medicare because your company is canceling your insurance because you are not full time. Obama Care moved the date from January 1, 2014 to January 1, 2015 for getting your employee to pay for insurance if you are working only 30 hours a week. If you work full time, then you are okay.
2. Apply for Medicare B, three month before you are going to need it either by going to the Social Security office, by calling, or by going on line. Then, set another appointment with an insurance guy who can sell you the supplements.
3. They will deduct about $104/mo (more next year) from your SS check for Medicare B, which covers medical. Medicare A covers hospital stays.
4. Make sure Medicare or the folks at the SS office know that you don’t need to start Med B until the first day of going part time.
Two Routes to Go: Supplements and Advantage
1. Supplements (he likes Regents/Blue Shield)
- for medical bills, M pays 80% and Supplement pays 20%
- Advantages: We can pick Drs that we want; The supplements works in all 50 states for Washington (this is different in different states); if a supplement goes down in price, then we can get the new price, You can always change from supplement to Advantage, but not the other way around, I don’t have to wait till the enrollment time, about August thru September;
- The cost is about $170/mo
- The disadvantage: it’s more expensive; and no prescription so you need to buy Med D or a supplement for prescriptions
- You give the insurance company a list of prescriptions, and they will find the cheapest supplement
- With just aspirin and Celebrex, it will be cheap, $20/ mo.
- If I don’t have a prescription supplement, then Medicare penalizes me for some reason
- After the drug plan goes over $2940 in a year, then I start paying at 100%. This is hard to do this much medicine.
- 80% don’t spend this limit, called the doughnut hole. The hole is shrinking 7% a year and will soon be gone unless Congress changes the rules.
- Was formed in 2001-2 to see if private practice could do as well as government. Apparently, the answer is yes. Advantage Plan was to take pressure off the Medicare spending.
- The people who chose these are generally healthy, it’s cheaper
- They work like insurance with deductible and co-pay. Many plans include the Prescription piece
- costs about $100/mo
- Disadvantages: There’s a doctor’s list and you chose from it;
- with Supplement, Medicare is paying my bill; my Advantage, the insurance company is paying my bills, and can get complicated.
3. General =
- Medicare gives everyone a onetime do over. You can change from Advantage to supplement in the first 12 months.
- You can change in the first 12 months
- Again, you can always go from Supplement to Advantage
- An operation like a knee replacement, will be cheaper with the supplement
- Hard to find a good Dental Plan/ He suggests calling Washington Delta Dental directly (don’t go through him or another broker) and they will cut me a deal similar to YL’s insurance.
4. Costs, once again:
a. Medicare B $104/mo in 2013
b. Supplement $170/mo in 2013
Advantage $99/mo in 2013
c. Medicare D $20/mo in 2013 with minimal prescriptions (This is not needed with Advantage)