Time to get serious with Medicare

[60 Deluxe]

It isn't complicated once you go through it. I think that they try to make it complicated.
My advice is to sign up for part B. Part A and Part B will cover about 80% of your expenses. That 20% that isn't covered can run into the tens of thousands of dollars if you get cancer or have a heart attack. A supplemental plan will add on about another $150 per month and maybe save you $100,000 in the short term. Prescription drug plans are cheap. My mother is 91 and I bought her a plan for $6.30 a month that covers most of her needs. You need to get some sort of prescription insurance because if you don't do it now, they will penalize you 10% per year that you wait. Most of us will need meds at some time in our life. My plan is about $15 a month. Most of my meds are at no cost to me. The only thing that I'm paying for is vitamin B12 injectable because it really isn't a prescription med.

[tps7742]

I have listened to a couple of webinars on Medicare put on by Ameriprise (not affiliated with Ameriprise I think). I am still a couple of years out so I can’t offer anything to what hasn’t already been stated. No doubt it can be a confusing task to get the right plan for each individual. One thing that I did make note of is to make sure you sign up for the supplemental plan within the timeframe allotted so you can’t be turned down for any pre existing conditions (as mentioned above).
And Medicare premiums can differ depending on a persons income if you exceed the IRMAA income limits as I understand it.
i dealt with my Mothers for a few years when she came down with dementia but she was already established so it wasn’t too difficult.

[brokeno]

Do NOT do anything that has Advange in it.

[M16]

If you’re fortunate enough to have a good income you get to pay another $500 or so a month for an income penalty . And so does your spouse. But they are kind enough to deduct it from your socialist security that they also tax you on.

[Huntingfool]

DO NOT sign up for Medicare Advantage plans - get a Medicare supplement plan - Plan G is the best IMO and the cost is very reasonable - compared to having to buy your own health insurance prior to age 65 it is golden - good luck!

[warrington]

Medicare with a suplllement is the best

[Goldeneagle]

OK, now that I got some quiet time, the online form isn't as bad as I thought. I do have one question. It ask's for the start of my current coverage. I hired in on 6-7-1976 originally. I quit and went to work elsewhere in Jan of 1999. Rehired to Raytheon on 7-23-2001. Shortly after rehiring, the time I was gone was reinstated. My paperwork shows hired in '76 and most recent hire in 2001. Which date do I use? I'm guessing the 2001 date.

[Goldeneagle]

Well, I filled out the online form for Part B this morning. I think I did it right. I should have looked into this sooner. I may have to pay a penalty. I got fed some wrong info from the HR lady when I got laid off last October. Guess I'll find out.

[Froggy]

You should really consider calling the guy I referred you to in my post, #2, above. It won't cost you a dime and all he does is specialize in Medicare.