More insurance brokers would choose traditional Medicare over Medicare Advantage: Report

[Yagents]

Seems like that most agents who are honest with themselves, would choose Original Medicare over MAPD when they turn 65. I of course would choose OM, what would you choose?

https://www.beckerspayer.com/payer/...medicare-over-medicare-advantage-report.html?

[EXTERNAL LINK] - The Challenges of Choosing Medicare Coverage: Views from Insurance Brokers and Agents

Most brokers and agents personally would choose traditional Medicare and Medigap over a Medicare Advantage plan. When asked, most said that they believe traditional Medicare, with the addition of Medigap supplemental plans, offers better health care coverage and choices, particularly as people age. One broker explained their choice, “If I ever have a medical issue, I’d want to be able to go to any physician I want.” A few participants, however, thought Medicare Advantage plans would be fine for their needs.

(Yes, only 29 brokers participated for a 105 min session)

 

[Russ]

I can afford $3900 a year max out of pocket on UHC HMO-POS. Plus I get $25 a month on OTC. Dental, vision, and hearing aids. I take close to 10 meds...9 of which are free. Saw my kidney doctor. Paid a $10 copay. No part B deductible to meet. I'm satisfied with my choice.

 

[scagnt83]

Take cost out of the equation and everyone will choose the most comprehensive coverage.

Of course it would be an entirely different situation without billions in government subsidies going to private insurers under MA.

 

[kstein]

Om+sup for me... Biz pays the premium, get 50% discount and life moves on.

 

[rousemark]

Om+sup for me... Biz pays the premium, get 50% discount and life moves on.

Don't forget the tax deduction.

 

[DonP]

It depends how my health is at 65 . If it’s good I’ll select a mapd with low moop . If it’s bad I’ll select a med sup .

 

[ICACharleston]

I have been on MA since 2010. Currently get $50 back on Part B and just refilled two meds at Publix for cash -$15 for 90 days - instead of using the VA $8 each a month.

 

[Newby]

It depends how my health is at 65 . If it’s good I’ll select a mapd with low moop . If it’s bad I’ll select a med sup .

You don’t buy health insurance based on you being healthy. Someday your health will go downhill all the way to the point that you will die from it. You want to have the health insurance coverage based on when you are unhealthy.

 

[scagnt83]

You don’t buy health insurance based on you being healthy. Someday your health will go downhill all the way to the point that you will die from it. You want to have the health insurance coverage based on when you are unhealthy.

But what level of coverage is the question. Nobody said go without it.

If you can save a considerable amount of money on the front end, the cost benefit of saving that and investing it could make a lot of financial sense.

And MAPD is not going without. It might mean you have to stay within networks. But is the OOP difference really any different?

So what we are really talking about here managed care vs. no networks.

 

[Todd King]

I think Don just admitted that a Med Supp would be better for those whose health isn't great.

The problem is, you just don't know when you're going to cross that line. So, if you cross the line while on a MAPD, then you're stuck. If you already have a Med Supp, then you're golden!