I will turn 65 this year and have been looking for a Medicare Advantage plan. I contacted Cigna, who I currently am with. They advised that they have decided not to renew contact's with Medicare. I wonder how many other insurance companies are going to do the same.

 

I've got a few years before I have to deal with this, but the Medicare Advantage plans have made the news around here as well.

With the Advantage plans aren't you signing off on the traditional Medicare plan, though you can change your plan on open enrollment?

Most folks I know purchase the traditional Medicare and buy a supplement.

 

I don't have a clue what this Medicare Advantage plan consist's of, but the companies that I'm currently looking at for insurance when I turn 65 are: Humana, Anthem Blue Cross, and Mutual of Omaha. Mutual of Omaha is going to send me information on their plan in the mail. One of my friend's signed up for United Health and received a policy from AARP. He canceled it!

 

That's the best way to go IMO.

 

Do lots of research. Networks can be limited under an Advantage plan.

AARP and United Health care are in bed together. I'm not sure how that relationship works.

I'm not a fan of United Health, and Anthem Blue Cross has had some bad publicity of late too.

Glen you might want to compare the Advantage plans along with traditional medicare and a supplement.

 

^Thank's for the input Lainey. This is all new to me, so I'm going to have to spend some time to understand the benefits. I have several neighbor's who have Humana and they seem to be satisfied with their program, maybe because Humana is based in Louisville. I've heard good things about Mutual of Omaha also.

 

I believe the typical Medicare Advantage plan is essentially an HMO... which means your choice of docs is limited to their network roster. To offset this, most Advantage plans try to sweeten the pot with some benefit goodies not typically included in traditional Medicare Parts A & B.

Lainey is spot on..... do your homework! Make sure what you choose is going to work for you.

The traditional Medicare Part A (hospital) which is virtually automatic when you turn 65, and the Part B (doctors) which you must apply for (and pay for) from Social Security and which has a current cost in the neighborhood of $90/month will allow you to use any medical provider. Those providers who 'participate' in Medicare cannot charge you more than Medicare 'allows'. Providers who do not 'participate' in Medicare are not limited in what they can charge for their services.

Medicare supplement plans, like AARP's, come in multiple flavors and costs.... you can choose how broad or limited you want that supplemental coverage to be. It is important to have a supplement that covers Part A & B deductibles (which get bigger every year), and that will cover the differences between what Medicare approves and what a provider charges if you are seen by someone who does NOT 'participate' in Medicare (subject to "reasonable & customary" guidelines). Many Blue Cross plans offer a good range of supplements, and the United Healthcare plan sponsored by AARP works quite well and is very competitive.

The last thing you need to look at is Rx coverage (assuming that is important to you). Once you get past age 65, we are pretty much limited to "Medicare Plan D" programs which again come in a variety of flavors. You can change your Plan D coverage at the end of every calendar year. Blue Cross and United Healthcare are two good sources of Plan D coverages.

If you are looking to keep your coverage as broad as possible, with full freedom to use any doctor/hospital you choose, Medicare Part B, a top supplement plan, and a decent Plan D program all together will probably wind up costing somewhere in the neighborhood of $400/mo. That cost can be reduced by picking a lesser Plan D for Rx, and one of the more limited supplements. You really do not want to go without Medicare Plan B.

'Tis fun being Vintage

 

OT but the wife just had a crown put in. We have "two" dental plans and it still cost us $500 out of pocket! Blue Cross did ok but Aetna sucks.

I'm going to be forced to make some decisions soon, when the wife retires. I just keep putting off thinking about it.

 

The more I see on the medicare choices, the more confusion sets in. I went to the www.medicare.gov website and that just exacerbated the situation.

 

Most dental plans cover 50% of crowns/caps, if you're lucky.

Around here, a single cap is pushing $1200.00.

I don't have dental insurance, and I'm sure I won't have it when I'm retired either.

Those medicare and supplemental insurance premiums, being discussed here are enough to break the bank on their own.

Good luck to Glenn and those navigating the choppy waters of health insurance in retirement.