3 Replies Latest reply on Oct 18, 2013 3:37 PM by Pinkie1947

    Health insurance question -Medicare Advantage plan?

    Pinkie1947
      I will be retiring at the end of the year and have been looking into insurance plans. My employer retiree plan is ridiculously expensive, which is very annoying. They are one of the largest employers in the state, so you'd think they could come up with some better priced insurance plans!

      Because I had a short break in service while working here for over 27 years, I do not yet have that magic number of “80” (age + years of service) that gives one the best retiree price for supplemental insurance. 
      Working one more year would get me to "80" but at age 65, I am really ready to retire now, and don't want pay that high premium for the in-house retiree plan.

      I recently attended a seminar on the Kaiser Permanente Medicare Advantage plans. The plans offered both have a 5 star Medicare rating, look affordable and work directly with Medicare to maximize your coverage and benefits.

      As I understand it, you pay for Medicare Part B and then pay a small monthly amount for the Kaiser Permanente side of the coverage which include a Part A and a Part D benefit.
       
      This year there was no charge for their standard plan, but next year the fee will be $14.00 per month for the standard plan (called Medicare Plus Standard Option) and $113 per month for the High Option plan.

      Obviously it’s an HMO plan - which you may or may not like the idea of. There are a lot of advantages to the patient, but there may also be some disadvantages too (for example, you might not like it if you want to stay with your long time doctor who is not in the network, etc.) 

      So far, I like the idea of it. The price is right….and you can change after one year during the next open enrollment period, if you decide that you don’t like it. I would really like to hear from anyone who currently has this specific plan (or other Medicare Advantage plans in general.)

      Thank you! Chris
        • Re: Health insurance question -Medicare Advantage plan?
          MyR Community Manager
          Pinkie1947,
           
          Thank you for creating a new discussion thread! We appreciate and enjoy your participation in the MyRetirement.org online community and look forward to your future contributions.
           
          • Re: Health insurance question -Medicare Advantage plan?
            alioop
            I don't know about your Medicare Advantage plan but I can tell you that our plan just changed to a Medicare Advantage plan (under my husbands retirement plan) and the plan stinks......not one of his doctors is on the plan so my advice to you is---check to make certain the doctors you want to see are on the new plan, otherwise you have to change them and that might not be to your benefit.  
            This new health law has been a disaster for most everyone I know who has either been told that they no longer have their plan and have to go into the exchange or have been told, like us, that the old plan no longer will exist as of Jan.2014 and "here's your new plan" or look for a another private plan that your doctor is in on and pay through the nose for it.  Tough stuff! Good luck.
              • Re: Health insurance question -Medicare Advantage plan?
                Pinkie1947
                Sorry to hear that you got dumped into it. They certainly should have prepared you for that!
                 
                Since these plans are HMO's, that is the downside if you want to stay with your own doctors. I had selected the Kaiser Permanente insurance plan at work several years ago when one of my kids was too old for his Dad's plan. K-P allowed me to have him covered on my plan for another 2 or 3 years so I signed up for it.
                 
                I personally didn't mind the HMO aspect of it but I know some people do because they want to stay with their own doctors. I ended up getting off that HMO after my son got too old for their plan because it was more expensive compared to my other choices.  I did feel like I got good care while with them and was satisfied with everything back then.
                 
                Check and see if you can change doctors within tyour plan until you find someone you like and feel comfortable with. The Kaiser representative told me this is allowed on their plan so that is good.