It must be Medicare enrollment time! Ads everywhere

[Brian Elfert]

Medicare enrollment just started for 2023 and I am starting to see ads for Medicare plans all over the place. Don't tell me Medicare plans don't make money for these folks with all the advertising they do. One plan ran a four page ad wrapped around the local newspaper on Sunday.

I won't be eligible for Medicare for 15 years yet if they hold to the 65 years old rule.

[Dave Anderson NH]

Yup, the ads are all over TV hosted by over the hill former celebrities who have seen better days. Our mailbox starts to fill with "come ons" and offers starting in late August every year. At times to the level of 2-3 per day. You can look forward to starting to get the junk when you turn 64 and it will never go away. In our case only my wife has to buy a supplement and a part D plan. I fortunately get all I need through the Veteran's Administration, but I still get the junk mail. Yesterday I even got one addressed to "Davis" Anderson.

[Jim Becker]

Yes, it's that time of the year. This frolic happens because the Medicare system allows folks to choose different coverage each year in a more flexible way that most employer sponsored health insurance is provided. A lot of "advantage plans" get highly competitive in the advertising right now because of that. Even though I'm already 65, I don't yet need to have Part B and beyond because I'm still covered fully by Professor Dr. SWMBO's insurance from the university, although the cost went up a bit this year because she's on a step-down plan and retiring at the end of this academic year. So we got tagged with part-time rates this time around. Next year, it's likely that our individual coverage will diverge and I will have to do the Medicare dance because it will be less expensive than paying retiree rates for both of us on the university plan. Sadly, our younger daughter loses coverage at that point, too, and we're hoping that whatever new employer she finds for what comes next will offer a good healthcare plan for her.

[Alan Rutherford]

Camp Lejeune, Lawyers. Medicare. Thank God for the mute button.

Just FYI in case you haven't figured it out yet: there is no Medicare Part C. There's A, B and D. "Part C" is a marketing term made up by the Medicare Advantage companies.

[Mike Henderson]

@Jim - original Medicare is a pretty good plan. I don't know what you were paying but your cost will be for the Part B supplemental plan. And Part D.

Otherwise - there's been some reports about Medicare Advantage plans recently. When Congress authorized those plans, the intent was to privatize Medicare, and save money. It started by Medicare paying the plans a fixed amount for each person who enrolled so the plans wanted to only enroll healthy people. They couldn't stop anyone from enrolling so they did other things, such as putting their enrollment offices on the third floor of a building with no elevator and/or offering health club membership with the plan to appeal to people who worked out.

But that wasn't enough and Congress eventually started offering a larger reimbursement for people with more serious medical conditions. Now, the plans document every possible health issue you might have, or have had, in order to get the person qualified for the larger reimbursement. So Congress got the plans privatized, but the plans directed their efforts towards getting more money and not to saving money.

Mike

[Jim Becker]

Mike, that's what I'm thinking. I kinda favor the "traditional" Medicare setup for A/B/D but there are a few additional things available to enhance that without going into an advantage plan as I'm "not" a fan of 205 copays. But also in the running will be what BC/BS offers that mirrors what we have now with the university insurance, paying particular attention to limitations, etc. It's too soon to do the deep dive but I'll have to have a plan (pardon the expression) in place before the end of next August.

[Bruce Wrenn]

Blessed to participate in a Medicare Advantage plan funded as part of my retirement. It was part of employment contract when working for school systems. Zero cost for premiums to me. Wife is enrolled thru AARP in United Health Care Medicare Advantage plan. Zero out of pocket premiums for her. This year no co payments for primary care visits for her.