Postal Retirees - Medicare

[lifeismylife76]

Here in Kansas City most Federal Employees have BlueKC Government Group. My Mom and StepDad turn 65 this year.

My StepDad is all hung up on prescription drug costs. Without considering their prescriptions I came up with this case study.

Stay with BlueKC Federal Employee Group Plan
Employee Premium,, Plus 1 = $500/month = $6,000/ yr
Take Part B to Pick up Out of Pockets ("OOP") $135.50 x 2 = 271.00/ month or $3,252.00/ year
Total: $9,252/ year (with NO consideration for OOP Prescription Drug Costs)
NOT included: OTC, Dental, Vision, Hearing, Gym Membership, and more

Stay with BlueKC Federal Employee Group Plan - Decline Part B for "Other Credititable Coverage"
Employee Premium,, Plus 1 = $500/month = $6,000/ yr
Decline Part B - $0
Responsible for Deductibles, Co-Pays, and Co-Insurance = ???
Total: $6,000/ year (with NO consideration for OOP Prescription Drug Costs)
NOT included: OTC, Dental, Vision, Hearing, Gym Membership, and more

Go with UHC AARP Medicare Complete Plan 2 - $0 Premium Plan
Pay Part B $135.50 x 2 = 271.00/ month or $3,252.00/ year
Total: $3,252/ year (with NO consideration for OOP Prescription Drug Costs)
INCLUDED: $40/ quarter PER PERSON OTC, Dental, Vision, Hearing, Gym Membership, and more for $0.

To me, this looks like what I call a NO BRAINER!!!

Does anyone know anything about Postal Retiree Medicare? Am I missing something??

 

[LostDollar]

To me, this looks like what I call a NO BRAINER!!!

To me, this looks like what I call value judgements. And you have not provided enough information for someone to counsel wise approach there.

Have you read ANY threads discussing Medicare Advantage vs other coverages or the challenges faced by some Medicare Advantage plan owners in getting treatment?

Unless it was apparent to me that financially they could afford no other option, with the possible exception of the Lasso MSA, I could not sleep nights if I caused any member of my family to buy a Medicare Advantage plan.

 

[Midlevel]

My parents have always been on a Medicare Advantage plan and have been extremely happy with it. Very narrow minded to say they should never be on a Medicare Advantage Plan. If clients take full advantage of their dental, vision, OTC benefits, etc. it's pretty hard not to come out ahead with a $4500 OOP Max when you are saving over $2000 on premiums plus all these additional benefits. Spare me the talk about not being able to find a Dr., Hospital etc. because the PPO networks are extremely sufficient in most areas. My clients are now around a 50/50 split so I am not a MA only agent.

 

[vic120]

Amazing how many in these no brainer situations stay with their expensive retirement plans afraid to move because they can never get it back again

Run into it all the time TX TRS comes to mind, Among others

Also with people with expensive med supp from BC or AARP have this irrational fear also

 

[lifeismylife76]

Yes! What a joke that they are getting any “perks”. Certainly in my parents situation. Made me think of the potential marketing campaign to Federal Retirees. That’s an untapped market of people who just need to do basic math! What they don’t know is costing them big time.

Amazing how many in these no brainer situations stay with their expensive retirement plans afraid to move because they can never get it back again

Run into it all the time TX TRS comes to mind, Among others

Also with people with expensive med supp from BC or AARP have this irrational fear also

 

[vic120]

Yes! What a joke that they are getting any “perks”. Certainly in my parents situation. Made me think of the potential marketing campaign to Federal Retirees. That’s an untapped market of people who just need to do basic math! What they don’t know is costing them big time.

The problem is many of these have no common sense and refuse to look at logic fight it tooth and nail

I've sign a bunch but still a small % of what I have spoken too, Don't think anything frustrates me as much is when you show someone HUGE savings for MUCH better cov and they just won't even consider

 

[XpressInsurance]

The Mail handlers plan is expensive, but it also depends on the situation. Group plans tend to be good if they are taking lots of expensive medicine. Insurance is about peace of mind. If they are healthy people would rather pay copays on that UHC HMO & potentially save money. I do think the Aetna PPO in KC is better than the UHC plan.

 

[sman]

The Mail handlers plan is expensive, but it also depends on the situation. Group plans tend to be good if they are taking lots of expensive medicine. Insurance is about piece of mind. If they are healthy people would rather pay copays on that UHC HMO & potentially save money. I do think the Aetna PPO in KC is better than the UHC plan.

Is there a particular "piece" of mind it is about? Knowing this could put me at peace.

 

[LostDollar]

My parents have always been on a Medicare Advantage plan and have been extremely happy with it. Very narrow minded to say they should never be on a Medicare Advantage Plan. If clients take full advantage of their dental, vision, OTC benefits, etc. it's pretty hard not to come out ahead with a $4500 OOP Max when you are saving over $2000 on premiums plus all these additional benefits. Spare me the talk about not being able to find a Dr., Hospital etc. because the PPO networks are extremely sufficient in most areas. My clients are now around a 50/50 split so I am not a MA only agent.

There are lots of posts in the forum from 2016 and after describing difficulties forum member clients have had with Medicare Advantage coverage. There are also other posts describing how well the plans have worked for others.

As I said, I think it becomes a value judgement about how much risk one wants to take. I think some of the focus on additional Medicare Advantage "additional features" may be misguided because I think I have seen posts from agents who have looked carefully at these things talking about how, once one goes beyond the surface of a catchy benefit category such as "dental coverage" or "gym membership" that one finds there are a number of unanticipated restrictions in the character of those benefits. If I had Medicare Advantage coverage, I would be worrying, at least every week of the remainder of my life, about the quality of my coverage. Applying value judgement, I refuse to inflict that on myself or those I care about.

Were I to become an agent, that presents an interesting ethical problem for me. I could not be an agent without extensive support from an IMO. My IMO of choice requires agents to do some work developing business plans, and part of their approach to that planning strongly suggests agents should be selling Medicare Advantage as well as Medigap. I am not sure how I would deal with that, but since I am not an agent, I can sidestep that issue at this time.

 

[goillini52]

There are lots of posts in the forum from 2016 and after describing difficulties forum member clients have had with Medicare Advantage coverage. There are also other posts describing how well the plans have worked for others.

As I said, I think it becomes a value judgement about how much risk one wants to take. I think some of the focus on additional Medicare Advantage "additional features" may be misguided because I think I have seen posts from agents who have looked carefully at these things talking about how, once one goes beyond the surface of a catchy benefit category such as "dental coverage" or "gym membership" that one finds there are a number of unanticipated restrictions in the character of those benefits. If I had Medicare Advantage coverage, I would be worrying, at least every week of the remainder of my life, about the quality of my coverage. Applying value judgement, I refuse to inflict that on myself or those I care about.

Were I to become an agent, that presents an interesting ethical problem for me. I could not be an agent without extensive support from an IMO. My IMO of choice requires agents to do some work developing business plans, and part of their approach to that planning strongly suggests agents should be selling Medicare Advantage as well as Medigap. I am not sure how I would deal with that, but since I am not an agent, I can sidestep that issue at this time.

As an independent agent, you don't have to offer both. You're free to only offer "the good stuff".