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Author: fleg9bo Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19403  
Subject: What does your Medicare cost? Date: 4/10/2010 12:43 PM
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I'm curious about what Medicare costs compared to the private insurance we have now. I will be 65 in 2½ years, DW in 3½. I realize that Medicare costs will likely be different by then, but I'd still like to get some idea what to expect.

We currently pay $476 each per month in premiums. That gets us a policy with a $1,500 deductible each, 30% co-pays, maximum out-of-pocket of $6,000 each after the deductible is met, no drug coverage and no dental, vision, chiropractic or anything else.

I know that there is a plethora of Medicare supplements so I'd like to know the range of costs. What is your total cost for Part B plus whatever supplements you've chosen to add, and what are the deductibles and coverage?

Thanks.

--fleg
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Author: CountUptoten Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16470 of 19403
Subject: Re: What does your Medicare cost? Date: 4/10/2010 12:53 PM
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I know that there is a plethora of Medicare supplements so I'd like to know the range of costs. What is your total cost for Part B plus whatever supplements you've chosen to add, and what are the deductibles and coverage?

Thanks.

--fleg

I pay the $96.40 they withhold from my Social Security check. I opted for an HMO for which I pay nothing except for a nominal co-pay for the MD's and drugs. The no-cost HMO is available only in L.A. County, iI believe.

Count Uptoten

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Author: Bobcatkitty Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16471 of 19403
Subject: Re: What does your Medicare cost? Date: 4/10/2010 12:56 PM
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We just changed from MA to original Medicare with a supplement. Our choice of company for supplement was United of Omaha. We both have chosen NEW Plan F at a cost of $114/mo each. This is with a 7% discount since 2 or more in a household have the same policy.

Each of us pay $96.40 from our SS check. My Part D is going to be $14.10/mo with Windsor. My DH uses the VA for his drugs and is exempt from having to pay for Part D.

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Author: fleg9bo Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16472 of 19403
Subject: Re: What does your Medicare cost? Date: 4/10/2010 1:18 PM
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NEW Plan F at a cost of $114/mo each. This is with a 7% discount since 2 or more in a household have the same policy.

Each of us pay $96.40 from our SS check. My Part D is going to be $14.10/mo with Windsor.


If that's all you're paying, it adds up to $224 per month each. That's about half what we pay now and we don't have drug benefits. What are the deductibles and co-pays on these plans, if any?

Thanks for the other responses as well. I don't think we want to move to L.A. County to take advantage of their plan--grew up there, had more than enough.

--fleg

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Author: Bobcatkitty Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16473 of 19403
Subject: Re: What does your Medicare cost? Date: 4/10/2010 3:19 PM
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With original Medicare and Plan F, there are no copays etc. If Medicare pays, your supplement picks up the rest.

Part D is another wild card altogether. Trying to figure it out is like swimming through mud. It all depends on what drugs you take, whether or not you can buy from WMT @ $10/90 days. And you can change Part D companies every year during open enrollment from Nov. 15 to Dec. 31.

I had a Guaranteed Issure policy from BCBS Florida until Medicare started last December. I was paying $450/mo (only for me) with $1000 Ded and 20% co-pay. Primary care was $20 per office visit, specialists counted against deductible.

Your supplement costs will be passed on your state and zip code.....so your costs could drastically different from others on this forum. Best idea??? Call a BCBS agent in your town and ask, at least it'll give you a heads up on what might be in your future.

fyi.....AARP/United Health care for PN in my county was $190+- per month.

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Author: Bobcatkitty Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16474 of 19403
Subject: Re: What does your Medicare cost? Date: 4/10/2010 3:26 PM
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fyi.....AARP/United Health care for PN in my county was $190+- per month.


Correction: delete the PN....I meant to say "in my county"

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Author: TurkeyBreath Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16475 of 19403
Subject: Re: What does your Medicare cost? Date: 4/10/2010 5:47 PM
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...I pay the $96.40 they withhold from my Social Security check. I opted for an HMO for which I pay nothing except for a nominal co-pay for the MD's and drugs. The no-cost HMO is available only in L.A. County, iI believe.

The non profit HMO, SCAN, operates in Southern California Counties and parts of AZ. SCAN offers slightly different versions in different counties that it operates. At least that is how my SCAN membership.

TB

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Author: REB60 One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16476 of 19403
Subject: Re: What does your Medicare cost? Date: 4/10/2010 7:39 PM
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This Web-Site has a lot of information on the cost of medcare and Advanage plan you can use were you live. http://www.medicare.gov/

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Author: Donna405 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16477 of 19403
Subject: Re: What does your Medicare cost? Date: 4/10/2010 10:31 PM
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fleg, I pay $110.00 per month for Medicare Part B. My Medigap through Mutual of Omaha is $108.50 per month. My Part D, Prescription Drug coverage, through Coventry is $23.50 per month. With the Plan F Medigap, I have no deductibles for doctor, hospital, lab tests, etc.

My Mutual of Omaha Medigap coverage is $14.00 per month higher, because a year has not elapsed since I quit smoking.

Donna

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Author: billjam Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16478 of 19403
Subject: Re: What does your Medicare cost? Date: 4/11/2010 7:31 AM
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I just met with my insurance agent last week. I'll start Medicare in August. Medicare Part A and B, Blue Cross Plan F supplement, and Blue Cross Value Plan Part D will total $264. That compares to $525 I pay Blue Cross of a PPO plan with $2500 deductible and $1000 max copays today. If the past is any indication my current plan will go up 10% to 15% on July 1 so Medicare will save me over $300/month in premiums plus eliminating most out of pocket expense.

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Author: Follydolly Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16479 of 19403
Subject: Re: What does your Medicare cost? Date: 4/11/2010 8:12 PM
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My Medicare cost per month is $221. Because I am taking my RMD which is considered income, I pay more and I pay double!

My supplemental insurance cost me $60.28 per month, plus VSP for $10.48 per month. Supplemental covers drugs with $70 copay. Supplemental only pays what Medicare does not, after a $300 deductible and the $3,000 deductible for whatever. Supplemental covers up to 80%. After the $3000 deductible, I think it pays 100%.

HTH

Birgit

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Author: fleg9bo Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16480 of 19403
Subject: Re: What does your Medicare cost? Date: 4/14/2010 12:22 PM
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This is all very interesting. If your figures hold fairly steady, my insurance costs will drop about in half while my coverage improves, although I fully expect the quality of care to begin declining as the main features of ObamaCare go into effect in a few years.

Before we retired early I made an educated guess as to what our health care costs might be and figured that into the withdrawl equation. My guess was fairly high and we've pretty much stayed under that amount except we went over it by just a little last year due to the deductibles and co-pays for my hernia surgery. Having to replace a number of ageing dental crowns all at once or another surgery could certainly do it in the future.

What's strange is that we could continue to afford the kind of premiums we pay now indefinitely, and yet our costs will go down because some years we will be subsidized by other people's taxes -- with many of those people having fewer assets than we do. (I say "some years" because we will probably have a year here and there with a lot of capital gains and then we will be paying a lot of taxes ourselves. But in average years we won't be paying all that much.) And we will also be subsidized by your kids and grandkids via the huge debts that ObamaCare will dump on their shoulders (we have no offspring).

Perhaps means-testing for Medicare premiums will become more vigorous. Even if it does, our Social Security benefits, which did not figure into our retirement planning, will more than offset higher premiums. My own SS payments, which just started in January, are enough to cover our current premiums. When DW's kick in at the end of the year, it'll be like a free health-care ride. Except that we paid all those SS taxes over the years and are finally getting it back with a very low rate of return.

Anyway, to all of those who will be paying more taxes than we will in the future, and to your offspring for paying off the debt that ObamaCare will be dumping on them, thanks for the subsidy.

--fleg

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Author: stockmover Big red star, 1000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16481 of 19403
Subject: Re: What does your Medicare cost? Date: 4/15/2010 12:55 AM
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When DW's kick in at the end of the year, it'll be like a free health-care ride. Except that we paid all those SS taxes over the years and are finally getting it back with a very low rate of return.

fleg ... the way I see it is that you should also be thankful that you & DW "are still around" to be able to collect the SS benefits you are entitled to. Unfortunately, many others never make it to that point even if they too have paid into SS all their lives.

Wishing you both a Happy and Healthy retirement.

Sincerely,

Rich

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Author: fleg9bo Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16482 of 19403
Subject: Re: What does your Medicare cost? Date: 4/15/2010 2:00 AM
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the way I see it is that you should also be thankful that you & DW "are still around" to be able to collect the SS benefits you are entitled to.

Absolutely. But being thankful about still being around is not the same thing as being happy about being fleeced by a government program.

--fleg

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