2 Replies Latest reply on Jan 4, 2011 10:56 AM by plohaus

    Getting supplemental insurance

    sgp
      I'll be 65 in a few months and am in good health without needing any meds. (hoping to keep it that way for another 65 years!).  I presently am covered in a pretty good heath insurance.  I am wondering abpout the need and importance of getting a sup0plemental that would cut in when I turn 65...thanks
        • Re: Getting supplemental insurance
          JerryD
          Are you saying that your current company insurance provides the supplement that covers what Medicare does not and the meds?



          One thing to remember is that you can get into ANY supplemental without underwriting at 65. After that you can be refused and stuck with what you have (or pay a higher price?).



          You mention that you don't need any meds. Good for now but if you don't have a qualified Part D drug program, Medicare will charge you a higher rate for each month that you are not covered. I too don't currently take meds and am in 2010 paying too much for the drug plan privilege so I looked into the new Humana/Wal-Mart drug basic program that was advertised at $14.80/month. That represents about a $200/year savings so I changed to it for 2011.



          To compare the old plan to the new H/WM plan, I took a potential problem that  may be developing and went to the Mayo's web site to see the recommended meds. I then compared the old coverage and cost to the new. The H/WM plan counts heavily on generics so make sure they have them. Also note which tier (1-4) they place them in because higher tiers cost more, sometimes much more. I am comfortable the generics would cover most drug categories and the cost might even be lower  considering the H/WM plan has a $60/year higher deductible.



          It's a pain but do the numbers!

          • Re: Getting supplemental insurance

            Hi, I am a volunteer  SHIP counselor (State Health Insurance Program) in the state I live in. We offer neutral advise on questions with Medicare and Medicaid and it is free. You may want to contact the group in your state. The phone number is on the back of the book called: Medicare & You 2011.

            Good luck