The Plan G premium in my area is huge (will be increasing to $4,800 /year), and I am considering switching to the G-HD for me and my husband - which has a $2,800 deductible. I can't see a downside to this, as long as there is a max out of pocket. My former employer will contribute $1,500 towards an HSA for me and $750 for my husband, which we can use towards the deductibles. In the past 4 years the Med Supplement hasn't come close to providing that amount annually, so I will save it for future years when we might need it. Does anyone see a flaw in my analysis?
Excellent article however I think consideration of quality of and access to care is not given enough weight. As someone who also worked in healthcare as an administrator for many years, the one thing I always learned is that not all doctors are the same, and Medicare B with a Medigap plan allows for the most flexibility and choice. Also, if you travel, I am not sure how Medicare Advantage Plans work if you rely on a limited panel of providers. Why do Medicare Advantage Plans advertise so heavily with TV commercials and famous people peddling their plans? I chose a G Medigap plan, and grit my teeth when I pay the premiums which are far higher for me than when I was employed, but I remind myself that it is insurance. A catastrophic illness or prolonged hospitalizations could wipe out the financial benefits of the Medicare Advantage Plan.
Comments
The Plan G premium in my area is huge (will be increasing to $4,800 /year), and I am considering switching to the G-HD for me and my husband - which has a $2,800 deductible. I can't see a downside to this, as long as there is a max out of pocket. My former employer will contribute $1,500 towards an HSA for me and $750 for my husband, which we can use towards the deductibles. In the past 4 years the Med Supplement hasn't come close to providing that amount annually, so I will save it for future years when we might need it. Does anyone see a flaw in my analysis?
Post: Second Guessing
Link to comment from November 7, 2024
Excellent article however I think consideration of quality of and access to care is not given enough weight. As someone who also worked in healthcare as an administrator for many years, the one thing I always learned is that not all doctors are the same, and Medicare B with a Medigap plan allows for the most flexibility and choice. Also, if you travel, I am not sure how Medicare Advantage Plans work if you rely on a limited panel of providers. Why do Medicare Advantage Plans advertise so heavily with TV commercials and famous people peddling their plans? I chose a G Medigap plan, and grit my teeth when I pay the premiums which are far higher for me than when I was employed, but I remind myself that it is insurance. A catastrophic illness or prolonged hospitalizations could wipe out the financial benefits of the Medicare Advantage Plan.
Post: The Medicare Maze
Link to comment from May 3, 2023