Here’s a follow-up of note:
I received notice today from Mutual of Omaha, my plan G premium is increasing from $203/month to $260/mo.
Increase of 28%. Ouch.
Those no-premium policies start to look good, as long as you stay healthy.
Don’t particularly want to push Medicare Advantage, but they are indeed often zero monthly premium. If you get sick, there will be copays for doctor visits.
There is also an annual max on those copays.
Disaster scenarios seem to derive from a time in the hospital. The answer is an added Hospital Indemnity plan.
Call a local Medicare Insurance Agent and ask questions.
New folks turning 65 who endure what we all endured and have to do extensive research, and phone calls, and websites and whatever . . . thinking it through as best they can — About 50% of those now choose Advantage right at day 1 of age 65.
They look great until you need them. Good luck with that. The way the world is looking these days a quick death is looking better all the time but we don’t get a choice in the matter.
“Those no-premium policies start to look good, as long as you stay healthy.”
Better: Those no-premium policies start to look good, as long as you ARE healthy.
And if you have health issues, that may result in major medical expenses, Supplemental G plans can soften the blow of some very major expenses, provided you can afford the premiums as opposed to sudden huge expenses.
Supplemental G plans vary by carrier and by state. New Jersey is a higher than average medical premium state, and my G plan exceeded $300 last year. But also, I had medical bills last year including two surgeries all of which exceeded $13,000 of which after Medicare and my Plan G I owed a couple hundred.