To select the best choice for YOU – there are two key factors.
- Health now and family health history
- Ability to pay premiums
Plan F is superior coverage and if premiums are paid you have little to no out of pocket expenses – easy to budget your health care expenses. Plan F doesn’t change every year on you.
Plan G is gaining poplularity as a Medicare Supplement Plan - it is just like a plan F, but it does not cover the part B of Medicare Deductible (2017 - $183). In some areas the spread in premiums from Plan F to Plan G make Plan G a better buy.
I prefer the Plan F as the deductuble is spread out over the course of a year and you don't have that front end charge each year.
PFFS PPO & HMO could have lower premiums but you have co-pays every step along the way. If you like these types of plans I think you will be happier in a Plan N Medicare supplement.
I do many enrollments for Medicare Supplements and many feel the few minutes I spend with them valuable to help sort out Medicare questions they have.
What about Prescription Drug Coverage? Most likely your largest expense in retirement.
With all the choices out there – Which one should you choose? You need to have one since Medicare penalizes you later on if you don’t get one now.
There are three factors that affect your choice. Premium of the plan – Schedule of Benefits – but the most important is the price you will pay for the prescriptions you take. This is where I really go to bat for my clients.
Employer plans used to offer retirees an advantage because of their Prescription benefits – but now that Medicare has Prescription Drug Plans, employer plans are not as attractive. Don’t be afraid to look around - leaving the employer umbrella might be a good thing.
NOTE: If you are on the government program, (Tri-Care) you will want to continue with their coverage. Everyone else will be shopping employer plans have lost their advantage with the addition of Medicare Prescription Drug Coverage.
Will your spouse need short-term coverage until their 65th birthday? I can help with that as well.
The secret to getting the best bang out of your dollar - is not to go out and buy the first plan you see or from the first agent that says they have what you need.
The preferred sequence of events is for you to send a list of prescriptions that you are taking so I can do the research in my office, then I bring the solutions to you. If you take none just write "None". CLICK HERE for a form to send me your information.