Well it took about 40 hours of effort on the part of RSL and myself, but we have decided on the best plan for post turning 65 health insurance I recount this so that any reader will hopefully learn something and save themselves some time.
Why did it take so long? Well it wasn't the Medicare part. They sent the card automatically, and we don't have to do anything. It was how to decide upon the best way to cover the things Medicare doesn't cover.
Here is what we learned. Not every Dr or facility is part of every Medicare Advantage or Medicare Supplemental Plan. There are many choices within Medicare Supplemental plans. There are many providers of Medicare Advantage Plans. If you choose one path, that has implications for future choices. And in a worst case scenario, there can be a $2,500 cost per year difference, but in a likely case, the higher worst case can save you $3,000 to $4,000 per year per person. There is no family plan in post 65 healthcare.
So, what is the key thing to know.
It is not easy to find out which Dr's are in which plans. Websites are not always accurate and the Dr's offices often give out incorrect or inconsistent information. After we spent many hours figuring out the difference between Advantage and Supplemental/Part D plans, that NY options are different than other states, and identifying the need to figure out the Dr's participations, we through a quirk of fate found someone who does this on a consulting basis in return for being the Insurance Agent who places your coverage with the provider. We still spend 10 to 15 hours helping her figure it all out, but in the end we think we are making a fully informed decision.
It shouldn't have to be so hard, but it is, so if you are turning 65, find an expert. It will save you time. We know one if you want to contact me.
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