Turning 65 this year. How to change from current insurance to Medicare?
I know this is a topic that most of you will have no interest in, but there must be some other OBGs out there. I need to decide whether or not to change to ACA. Right now I have a grandfathered in policy with BC/BS (which I will lose if I cancel it) --- But the monthly payments are 4x of the ACA. Will I be canceling my current insurance (whatever it is) when I go on Medicare?
Last edited by Lord Helpus; Dec. 23, 2013 at 02:14 PM.
No, on Medicare you get to buy a supplemental insurance from your current or any other company, that covers what Medicare won't.
I was with our state Cattlemen's Association's, TSCRA, thru BC/BS, insurance for decades.
Once on Medicare, they changed the policy to reflect that, now it is called something like BC/BS Advantage Plus, I think.
You will find that you don't save that much, but if that is a problem, there are cheaper insurances out there.
Cheaper means that you will pay less premiums, but more on the other end, if you get sick and your deductible is high, or your coverage % skimpy.
The reason many here stick with BC/BS is that is the one most doctors here honor.
For other insurances, you have to ask around to be sure they will take you.
What, imo, you need to do before the "deadline" is to enroll in Medicare, parts A and B, AND a supplemental policy + rx coverage. After you are accepted by Medicare, cancel BC/BS, or, if you like them, make either BC or BS your supplemental. (I don't like them.)
If you are drawing, or are eligible to draw, Social Security payments, Medicare, part B, will be deducted from your monthly check. There is NO charge for part A coverage unless you're filthy rich--and maybe not even then (never having had that problem, I don't know for sure).
The reason I'm as conversant with this stuff as I am--and there's plenty I don't know about it--is because I have recently wrestled with it on behalf of my mother and my husband.
Your choice of supplemental plans will depend upon your geographic location in the US. If I were shopping for a supplemental, I'd probably choose United through AARP. My mother, who had this brand of insurance, paid $185 per month for it, and there was never any quibble about a medical office's acceptance of it and no co-pay.
Good luck with navigating this. It's a total PITA.
PS: If you're registering with Medicare, you don't have to fiddle with the ACA, unless they're regulating the supplemental. At least my family did not.
Before you consider dropping your current BC/BS policy in favor of ACA you might want to check with your current BC/BS office to see what they will have available in Medicare supplemental insurance. Right now, this yr and last yr (when I switched to BC/BS), I pay $0, yes zero, monthly premium to BC/BS. Depending on when you actually turn 65 it may be cheaper in the long run to stay with your BC/BS. Medicare comes out of my social security at $104.90.
My payment to my PCP is $40 and any specialist did go up to $45 I think. I'd have to go look at my card but I think that's right.
Sometimes you have to burn a few bridges to keep the crazies from following you!
I second the trip to the SS office. Find out when you can officially be covered by Medicare. Then shop around for Medigap insurance, and that's through many organizations, and insurance companies. Everyone from AARP, to private insurance, and many groups offer Medigap insurance.
The retirement age at which somebody can receive full benefits has been going up for years. All SS eligible workers can still retire at 62 or later and receive reduced benefits and Medicare starts at 65 regardless of age for full benefits. Incidentally, many Medi-gap policies require the holder also enroll in Medicare B. The supplemental, gap policy then responds to what is not covered by Medicare.