BIG caution to anyone considering Medicare Advantage plans, they do everything in their power to deny coverage, delay, obfuscate, etc. I'm honestly kind of shocked that your guest for this video doesn't say these things and essentially says they're both good and equal to each other and it's your own personal preference. Kind of disappointed, this video might lead some to make a really bad choice that they cannot take back
As a healthcare provider I can confirm this. Advantage plans often require pre-authorization where traditional Medicare does not. Pre-authorization delays and often denies what the healthcare provider deems the best treatment. These Advantage plans are frustrating for the patient and provider alike. Be VERY careful with Advantage plans.
I have Kaiser permante and this has not been my experience. My coverage is free. I get appointments fast an easy. I get referrals to specialist with no problem. My medical care is highly coordinated. I can also go into Kaiser facilities all over the country.
Does Drew sell insurance? It is important to disclose any conflicts. I suspect agents make a lot more from supplements plans and possibly no money from advantage plans.
Actually, agents make more commissions on Advantage plans and less on Supplement plans. Seems counterintuitive, but that's the fact. That's why you see so many advertisements for Medicare Advantage plans.
35:22 Medicare does not cover care outside the US and US territories. You'd need travel insurance to fill the gap while abroad. Some Medicare Advantage plans do cover foreign travel.
Thanks to you both. Medicare and expatriate US Citizens questions and observations. 1. What's not covered by Medicare? Treatment and care outside the USA. 2. I've read but can't verify that US citizen who qualifies for SS benefits MUST enroll in Medicare Part A. This is an issue for US citizens living outside the USA. We don't need medicare. It is useless. By the way: Is this true? Do you have to enroll in Medicare (minimally Part A) to receive SS?
I am looking forward to not having to think about networks. The day may come when I can't afford that option, but for now, I plan to go with traditional Medicare and pay the premiums for a Medigap policy. Plan to go with the slightly less expensive Plan N.
Dang, didn't realize vision and dental are extra too. not looking forward to this transition! My mom is in her 90's and these Medicare supplemental companies are egregiously preying on old people. Until I had to take her phone away for just this reason, my mom was getting signed up for new plans every week with the callers telling her they were Medicare and she had to sign up for these additional programs and this is from big names too. Legal protections are non-existent from these scammers. Healthcare is a disaster here.
What I think I heard was that Medicare is kind of like having a nationally recognized medical plan with no in or out of network situation. Either the medical establishment takes Medicare or it doesn't. How does that work if I have a Medicare Advantage plan? If I choose a plan that is local to where I live, what happens when I'm out of my local area?
Thanks James for another great video! This was very helpful and am looking forward to next week's video with Drew since I'm going to be retiring at the end of the year and I'm not going to be eligible for medicare yet.
When he says you can buy in to medicare does he mean there is a way to buy the 10 years of work credit that you need to get it for free or that you can pay a monthly premium for it?
When I turn 65, my wife will be 63. Even though she can qualify under my 10 years/40 quarters of work, she still has to find alternate insurance until she turns 65, and can then go on Medicare, correct ?
On the flip side, my wife will turn 65 when I'm 63 and still working. Because my business has fewer than 20 employees she must enroll in medicare because the employer medical coverage becomes secondary rather than primary for her. One really needs a good agent to help navigate all of this, and start well in advance.
Yes, he mentioned it briefly. I’ll be turning 65 in a few years but my wife will be 64. She has her own 10 years/40 credits but will not be eligible for Medicare. I think I will still work till 66 and have my employer health insurance until she turns 65.
Many of our clients spouses who are not ready for Medicare either get a health plan with the marketplace, a short term medical plan, or an hsa medical plan. Great info!
Disappointed that there was very little discussed about orig. medicare (lowest cost option) -v- supplemental plans or -v- advantage plans; guest speaker must be an commissioned agent, so he wasn't incented to discuss the pros of orig. medicare - our loss.. You have always done an excellent job in presenting objective information, but sorry to say, not this time.
If you are pretty heathy and just new to Medicare go for advantage,need a normal amount of doctor visits Medicare and plan g,if you can afford the monthly payment.My mother is 90 has the latter payes zero out of pocket.myself I really don’t want to be between the doctors and the insurance companies,especially I am in a wealthy zipcode so don’t want to deal with prior authentication issues.Plus Kaiser runs the MAP in my area.few choices,plus Kaiser offers no dental at all,shameful.
Careful with your phraseology. A woman who stays at home to raise the kids and care for the home and spouse with out an employer WORKS FAR MORE than a salaried professional. She is on call 24/7, fellas.
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Most importantly, with medicare you can choose any doctor, as opposed to a network with an Advantage plan.
BIG caution to anyone considering Medicare Advantage plans, they do everything in their power to deny coverage, delay, obfuscate, etc. I'm honestly kind of shocked that your guest for this video doesn't say these things and essentially says they're both good and equal to each other and it's your own personal preference. Kind of disappointed, this video might lead some to make a really bad choice that they cannot take back
As a healthcare provider I can confirm this. Advantage plans often require pre-authorization where traditional Medicare does not. Pre-authorization delays and often denies what the healthcare provider deems the best treatment. These Advantage plans are frustrating for the patient and provider alike. Be VERY careful with Advantage plans.
It’s good unless you have to use it!😢
I have Kaiser permante and this has not been my experience. My coverage is free. I get appointments fast an easy. I get referrals to specialist with no problem. My medical care is highly coordinated. I can also go into Kaiser facilities all over the country.
That’s what I’ve heard …that Advantage plans will deny coverage. Supplemental is how we’re going to go
James asking very good and sharp questions! Very informative and beneficial! Good jobs!
Thanks for doing this. Lots of great info!
Does Drew sell insurance? It is important to disclose any conflicts. I suspect agents make a lot more from supplements plans and possibly no money from advantage plans.
Actually, agents make more commissions on Advantage plans and less on Supplement plans. Seems counterintuitive, but that's the fact. That's why you see so many advertisements for Medicare Advantage plans.
Comprehensive with stunning clarity. Thank you James and Drew!
Wonderful, helpful content! Thank you!
35:22 Medicare does not cover care outside the US and US territories. You'd need travel insurance to fill the gap while abroad. Some Medicare Advantage plans do cover foreign travel.
Thanks to you both. Medicare and expatriate US Citizens questions and observations. 1. What's not covered by Medicare? Treatment and care outside the USA. 2. I've read but can't verify that US citizen who qualifies for SS benefits MUST enroll in Medicare Part A. This is an issue for US citizens living outside the USA. We don't need medicare. It is useless. By the way: Is this true? Do you have to enroll in Medicare (minimally Part A) to receive SS?
Great Video...would love to see a video of Drew's take on TRICARE for LIFE for us mil retires?
You both did a great job of making a boring topic interesting
I am looking forward to not having to think about networks. The day may come when I can't afford that option, but for now, I plan to go with traditional Medicare and pay the premiums for a Medigap policy. Plan to go with the slightly less expensive Plan N.
Dang, didn't realize vision and dental are extra too. not looking forward to this transition! My mom is in her 90's and these Medicare supplemental companies are egregiously preying on old people. Until I had to take her phone away for just this reason, my mom was getting signed up for new plans every week with the callers telling her they were Medicare and she had to sign up for these additional programs and this is from big names too. Legal protections are non-existent from these scammers. Healthcare is a disaster here.
What I think I heard was that Medicare is kind of like having a nationally recognized medical plan with no in or out of network situation. Either the medical establishment takes Medicare or it doesn't. How does that work if I have a Medicare Advantage plan? If I choose a plan that is local to where I live, what happens when I'm out of my local area?
Very helpful content.
Thanks James for another great video! This was very helpful and am looking forward to next week's video with Drew since I'm going to be retiring at the end of the year and I'm not going to be eligible for medicare yet.
When he says you can buy in to medicare does he mean there is a way to buy the 10 years of work credit that you need to get it for free or that you can pay a monthly premium for it?
Does investing in a HSA today pay for what the plans might not cover?
Check IRS Pub 502 - that states what qualifies as medical and dental expenses for HSA.
When I turn 65, my wife will be 63. Even though she can qualify under my 10 years/40 quarters of work, she still has to find alternate insurance until she turns 65, and can then go on Medicare, correct ?
Exactly. I'm in the same situation - younger wife. Think of Medicare as insurance for EACH person and you must be 65. There is no group coverage.
On the flip side, my wife will turn 65 when I'm 63 and still working. Because my business has fewer than 20 employees she must enroll in medicare because the employer medical coverage becomes secondary rather than primary for her. One really needs a good agent to help navigate all of this, and start well in advance.
Similar question here. Wondering what are the options for couples on a family or self plus one plan when the older spouse reaches Medicare age?
Yes, he mentioned it briefly. I’ll be turning 65 in a few years but my wife will be 64. She has her own 10 years/40 credits but will not be eligible for Medicare. I think I will still work till 66 and have my employer health insurance until she turns 65.
Many of our clients spouses who are not ready for Medicare either get a health plan with the marketplace, a short term medical plan, or an hsa medical plan. Great info!
Disappointed that there was very little discussed about orig. medicare (lowest cost option) -v- supplemental plans or -v- advantage plans; guest speaker must be an commissioned agent, so he wasn't incented to discuss the pros of orig. medicare - our loss.. You have always done an excellent job in presenting objective information, but sorry to say, not this time.
I have heard nothing positive about medicare advantage.
If you are pretty heathy and just new to Medicare go for advantage,need a normal amount of doctor visits Medicare and plan g,if you can afford the monthly payment.My mother is 90 has the latter payes zero out of pocket.myself I really don’t want to be between the doctors and the insurance companies,especially I am in a wealthy zipcode so don’t want to deal with prior authentication issues.Plus Kaiser runs the MAP in my area.few choices,plus Kaiser offers no dental at all,shameful.
Careful with your phraseology. A woman who stays at home to raise the kids and care for the home and spouse with out an employer WORKS FAR MORE than a salaried professional. She is on call 24/7, fellas.
Off track.