Truth About Medicare Supplements?

[saintstigers]

Came upon this medicare supplement video while searching on YouTube? Is there any truth to what this guy is claiming about Medicare Supplements? I wouldn't know since I'm new to Medicare and still learning...

https://www.youtube.com/watch?v=cApRgSGGOQY

 

[GreenSky]

He is correct in that for the most part the cost of insurance is more than one can receive as a benefit. I haven't used my auto insurance in 30 years. By now I could have bought a couple of cars with the savings.

Everything else is bullshei8t. The cost of a supplement (he calls them supplementals because he's an ***) is rarely $200-400. Plan N is more like $100-150.

The cost of being in the hospital is not the Part A deductible. That's really not a big issue. It's the 20% for each and every doctor. It's 20% for chemotherapy.

From my standpoint, the best supplement is the high deductible plan F. You pay maybe $500 a year and limit your out of pocket to about $2,000. That makes the most financial sense.

Even so, people have been so convinced that they need Plan F and 100% coverage for out of pocket. They have been told that excess charges can exceed $100K.

He then talks about Part D. What he doesn't mention is that for under $16/mo you can use mail order and get most generics for zero cost. And he points out that the penalty is $4/mo. I agree that may not be an issue but if on Jan 5 you need insulin you get to pay retail for the entire rest of the year.

This guy is dangerous if people listen to him.

Rick

 

[DS4]

Rick, you are stuck in a time warp. High Deductible ($2180) Plan F hasn't been $2000 since 2010.
Also, the penalty for Part D is about $.33/month.
I wrote 2 HD Plan F's this morning on people new to Medicare, plus, Part D's on both.
I use HD Plan F as a loss leader in order to get to the real money product...........Part D!

 

[Ronnie Carter]

Rick, you are stuck in a time warp. High Deductible ($2180) Plan F hasn't been $2000 since 2010.
Also, the penalty for Part D is about $.33/month.
I wrote 2 HD Plan F's this morning on people new to Medicare, plus, Part D's on both.
I use HD Plan F as a loss leader in order to get to the real money product...........Part D!

ROTFLMBO -- one of the funniest posts in a while!!

 

[vic120]

Hey listen when he starts of with supp cost is an average of 200-400 he is starting of with misinfo

It's rare I hear someone with supp well over $300

 

[russelltw]

Last supp I saw over $300 was in VA, lady had a plan that was no longer taking new enrollees in VA. She stayed with the same company for 10+ years...

Part D penalty is 1% of national average premium per month that you don't have coverage when you were first eligible. Wait until you are 68 - 3 years, so 36% on top of whatever plan you take for as long as you live. That's the "stick" of PDP.

Agree with Rick on Part B and needing name brand meds early in the year with no PDP. Everybody loves saving money until they need insurance...

 

[ineedhelp]

search "current daily cost per day" in whatever State you're curious about. This Dr. may or may not know medicine, but he doesn't have a clue about Medicare Supplements. Isn't he practicing Insurance without a license? What would happen to us if we spread the same garbage about "The high cost of Medical Care by Doctor's"?

 

[John Galt]

search "current daily cost per day" in whatever State you're curious about. This Dr. may or may not know medicine, but he doesn't have a clue about Medicare Supplements. Isn't he practicing Insurance without a license? What would happen to us if we spread the same garbage about "The high cost of Medical Care by Doctor's"?

Then i would interview you and make sure we both get a spot on the Dr. phil show

 

[Norwayguy]

Rick, you are stuck in a time warp. High Deductible ($2180) Plan F hasn't been $2000 since 2010.
Also, the penalty for Part D is about $.33/month.
I wrote 2 HD Plan F's this morning on people new to Medicare, plus, Part D's on both.
I use HD Plan F as a loss leader in order to get to the real money product...........Part D!

Dang, can you afford to drive home after those sales?

 

[somarco]

Dang, can you afford to drive home after those sales?

He is training SAI, so SAI drives and buys lunch.