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View Diary: I started on Medicare today.... (23 comments)

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  •  Ms. Unoball (2+ / 0-)
    Recommended by:
    RJDixon74135, ladybug53

    My wife turns 65 in July, so she has just received the initial "intro" letters and information from Medicaid.

    I am younger than she, and I have good insurance through my company. Of course, Ms. Unoball is on my current workplace-provided insurance policy.

    We are looking at options, to make sure of what else is available and for how much. That is, would she be better taking Medicare Part B and paying for it out of her Social Security check, and then buying "medigap" and prescription drug (Part D) coverage.

    Company-provided insurance is most likely the best, but expensive. If we drop that and buy the others, it might be a slight monetary savings, but I suspect it would still be lesser coverage.

    All in all, I think that keeping on my insurance is the best option. She can always buy Medicaid coverage if my job situation changes.

    •  Senor, check to see what the hospital you intend (1+ / 0-)
      Recommended by:
      Senor Unoball

      to use requires. Also the group your favorite doctor is in.  Some will only take Medicare Advantage, or a specified list of MA plans, or require X or Y. else they will not treat at all.

    •  Be sure to check into the penalties for not (4+ / 0-)
      Recommended by:
      Vatexia, celdd, Rileycat, Senor Unoball

      getting Medicare as soon as you qualify. Mr. 74135 pays a monthly penalty for keeping the private insurance provided by his employer after he turned 65.

      My experience is that Part B is a huge bargain, get it! You need a medigap policy, too, and some are reasonably priced. You'll have to shop around and it's tedious. Part D is another great bargain. I have a plan that's only $32/mo and saves me about a hundred. My husband has a plan that's quite a bit more, but his monthly medications are a lot more, and he saves a lot more.

      Our primary care physician gave us some simple advice about health insurance: get the best you can afford. Was he ever right. We're not uneducated, in fact we both have graduate degrees, AND we took care of his mother's medical appointments and bills during the last year of her life. Still, we underestimated how many medical problems we would face ourselves and how expensive even small ones would be.

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