Turning 65, but with good company health ins

TomZack

Super Genius
Oh man....

Someone I know is getting there soon in Connecticut.

W/o confusing me too much.....

He has a good company health plan now.

I sell life insurance but I know very little about the health side and turning 65.

Can someone give me the skinny on the options he should be looking at (Connecticut)?

Thanks in advance for any help!
 
Define good health Plan now.

So many people tell me they have great employer coverage and they don’t want Medicare. Then I find out they pay $400 month with a $2k deductible.

Sounds like you don’t know enough about Medicare to help this person compare.
 
So true. Just trying to steer him in a good direction when he talks with someone.

His plan: Anthem Blue Cross $800 deductible PPO, paying around $250 month.
Has Delta Dental, too.
$25 office visit
Specialist: $50
Urgent care: $25
Emergency Room: $250

Anything else?
 
I have a couple of clients age 65 now keeping their group insurance because of their income and the expensive drugs they take. Little chance of a drug company giving them an income based subsidy, nor would they qualify for Medicare prescription Extra Help. The employer plan has a $3,000 max out of pocket, including all health costs, not just RX. The employer can't coerce them to leave the group plan. It would not necessarily be a benefit to for these specific employees to change to supplement + drug plan. Drugs would be an important cost factor, and have someone work up a proposal with all their drugs listed to see the cost with a Medicare drug plan. Others will find that Medicare + Supplement + prescription plan save well and provide more coverage. The case above is more of an exception, but each should be considered carefully. One last bit, it also depends on whether they work for a company of 19 or under employees. If so, they must enroll in Medicare A & B. The ones I mentioned don't have to, larger employer.
 
Thanks so much for your response! Drugs for this person are generic Crestor (rovustatin 5mg) and omneprezole for GERD 40mg. I don't think either are expensive. That is it.

Will Medicare provide less options for Doctors, etc because fewer physicians will take medicare than a plan like Anthem because it pays less?
 
Original Medicare usually has MORE provider options - no network with original Medicare.

Monthly Part B premium $134. If high income factor in IRMAA tax.

Low premium PDP $15 or less.

Plan G supplement $150/mo (or less?).

Monthly premium outlay slightly higher than what he pays now. Max OOP ( based on current med's) considerably less (around $250/yr vs $800+).

If he loves his dental plan can probably keep that. Personally, I don't see the value in dental or vision and normally talk people out of buying.
 
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