Avoiding Costly Medicare Mistakes

[@martyc2637]

How in the world has getting sick in this country become so complicated and expensive? I think the average american is overwhelmed.

[@31o0p]

Marty C There are middle men to feed sadly. Too many people need a piece of the ever expanding pie.

[@gltate2833]

Here is how... you get a big bureaucracy [US Government) inter fearing with free market capitalism combined with the largest union in the country (AMA) and it becomes a quasi monopoly of confusion with a lot of taxpayer $ wasted and personal choices limited. Either go one way or the other, my preference is get federal government out totally and let states provide a safety net for those who need it. We would be amazed how fast prices would come down and medical services expand at low cost!

[@randrozguidroz6485]

@@gltate2833 bulshit the problem is healthcare for profit that's the goddamn problem

[@williamstachowskl921]

@@31o0ppp l llllp

[@williamstachowskl921]

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[@door2416]

There are many good videos that explain medicare. This is not one of them. Medicare is not that complicated. One rule of thumb, if they are pushing you into giving up your original Medicare for Medicare Advantage (not Medicare, private insurance) they are not giving you the whole picture. They are just trying to sell the most profitable insurance plan for them. Just remember nothing in life is free and that's how they promote their Advantage.

[@opalfishsparklequasar8663]

Thank you! Confirmed my gut feeling. ☺💖💎🏆

[@5410082]

At minute 13:10 they start talking about Medigap plans and what is accepted by a person’s doctor. It is my understanding that all Medigap plans are accepted as long as your doctor accepts Medicare. Your doctor bills Medicare which then pays 80% of what they deem should be the cost. It is Medicare then, not your doctor, that informs your Medigap insurance company how much the remaining 20% is. So for example, if you go to the doctor and his bill is $150, Medicare will say something like the charge cannot be more than $100. Of that $100 Medicare (assuming you’ve already paid $198 annual deductible) will pay 80% or $80. Then Medicare tells your Medigap what the remainder is and then that Medigap company pays the amount for you.

[@MedicareSchool]

You are correct. As long as your doctor accepts Medicare, they accept any Medigap (or supplement) plan.

[@laurabrody787]

Some providers do not agree to accept what Medicare says is the approved cost -- you could still be responsible for paying up to 15% above the Medicare cost. Many, but not all, Medigap plans cover these "excess charges."

[@Wonderland41]

I have a problem with her advice regarding going to your doctor to find out which Medicare Supplement plans they will accept. It doesn't matter with a supplement. Claims are sent to original Medicare, who pays their share and then rolls the balance electronically to the supplement, who pays the balance as according to the plan. The provider never bills or deals with the supplement plan except for accepting payment, and that is not an issue.

[@lyndayoung8761]

Absolutely. Medigap payment is a no brainer. They make no decisions; Medicare does all the deciding.

[@edwinbergstresser7779]

I am saddened that there is no closed captioned for the deaf and hard of hearing senior who soon will become 65. How can we be informed? Please captioned

[@tommyhodges2105]

I agree. They should know the law but they don't.

[@paulutrata7311]

Edwin Bergstresser If you are watching this on KZbin, you have the ability to turn the captions option. Depending on the type of computer or iPad you are using, find the choice option on the screen, and modify your captions.

[@opalfishsparklequasar8663]

"Captions Unavailable." 🔥😬🔥

[@marg6196]

She's great. One concern @ 21:59 she says "you will not be eligible to get it reduced" referring to higher premiums due to higher income in the previous 2 years leading up to retirement. My understanding is retirement, with lower income, is itself a qualifying reason to have it reduced. So you would be eligible in that instance. Right?

[@76006linda]

For the average ss income, medicare is expensive. This was money that was payed in for most people over 40 years of working. I always thought that it would be free but it's not! Very surprised and disappointed. I didn't learn anything new in this video. Is there help out there for low income ss earnings with the 20% if can't afford a supplement plan? Most of my ss check will be going to medicare premium cost and a supplemental insurance.

[@yvonnedelories4780]

I'm due to retire in September and that's what I'm afraid of. I need to understand all of this stuff bec I want to be able to afford to live and have adequate health ins.

[@beginner_electric_guitar]

Folks, thats why these health insurance companies have these fancy offices in big buildings and paying big salaries. That's where most of our health insurance premiums go.

[@Larry30102]

There’s some good info here. One thing that wasn’t mentioned, that I think is potentially vital, is that if you’re hospitalized under a HMO Advantage plan, there are 3rd party services you could experience that are NOT covered under your HMO. One area I can think of is anesthesia. Many anesthesia groups are contracted by the hospital. Other areas might be OT/PT, labs and even radiology. ER physicians are often under contract. Just be aware. There are PPO Advantage plans. I’m not sure how contractors are handled in a hospital setting under a PPO plan. I’m pretty healthy, but the potential financial impact of having to personally cover all these other costs persuaded me to go with a plan G supplement. I just feel more secure. It’s kinda like you get what you pay for. Pay me now or pay me later.

[@Wonderland41]

PPO's will pay out-of-network, but it is usually (not always) more, ex. around 40%.

[@steveshannon7904]

I'm in a HMO advantage plan with no premium and I get what you pay for.

[@BobCristofaro]

I have 3 more months to decide about a part C or supplemental and I'm not happy about having to pay any more for premiums to anybody for more insurance! I'm told that many doctors and hospitals just write off the extra cost to the patients if they only have Medicare A-B if they can't or wont pay. Why can't we just make it that simple? Geez!

[@billman6364]

that might be true but it may take them 5 or more yrs to write it off

[@jacksilver9935]

Even folks of Medicare age may not be willing to trash their credit by willfully incurring charged off debt. I presume the option is available to those with poor credit.

[@rickybuggsr1101]

Great info. In PA, the company I work for offers Med Sup & HMO and PPO as Medicare Advantage plans. One is not required to get a referral to see another doctor. With our HMO plans, the doctor does need to be in the network, which is quite comprehensive. Please take her advice and not wait until the last minute. Also, although Medicare is often confusing, you can navigate and get the right coverage for your needs. Talk to a trusted advisor if needed.

[@slickwillie9526]

I had to take care of all this for my Mother....and it was a huge eye opener. This is Government at it's best, making it so complicated and confusing to justify their pathetic existence.

[@shericontrary2535]

My mom appealed for more food stamps when her premium increased and won. Also some clinics use income and you can get a discount if your income is low

[@joannfahey8423]

This is ridiculous that seniors need to navigate all these options! Some people are good at this stuff. MANY are not!!

[@patriot8087]

Med Advantage plan are great if you don't get sick or have to go to the doctor.

[@astridgalactic9336]

One of the frustrating things about all of these videos is that they tend to default to assuming that everyone is married and making good money while pretty much ignoring almost everyone else.

[@opalfishsparklequasar8663]

Sooo- we're screwed.

[@DKanon]

I always laugh/cringe when I see young people wanting Medicare for All. Apparently they have never actually talked to anybody who is on Medicare. When I turned 65 I was informed that I had to move off "my" company's healthcare plan and on to Medicare. So I was paying for all my employee's healthcare, but couldn't be on the plan myself. By the time I paid for all the Medicare coverage I could get, it cost almost as much as my company's plan without nearly the coverage. Congress is the reason Medicare costs are so high...over the years they have added more and more people to the Medicare roles who haven't contributed or fully contributed to the pool without funding these additions. Oh and this video was content absent.

[@SandfordSmythe]

Medicare for all is only an illustration of how a single payer system works. Medicare would be different.

[@MrAxman53]

Find yourself a local, independent agent you can trust and work with them to find the right Medicare solution for your medical needs and budget. Local agents know the provider networks in your area and other local details that can help you reach a better solution than going it on your own. My opinion, of course. (Yes, I am a local, independent Medicare agent.)

[@cindykrueger3663]

MrAxman53 Thank you. Seems like very good advice..

[@barbjefferson2069]

My husband is turning 65. and we are both retired. I have had health insurance for both of us up to now, from my previous employer, which is great. It will now cost us more money for health insurance per month since we now have to pay for Part B and also pay for supplemental insurance, again through my previous employer's health plan. All in all we are paying more. I would have just liked to keep paying for the health insurance we already had with Care First.

[@scottfreedom2012]

This is informative but really just touches on some of what you need help with. You never mentioned talking to an independent agent. SHIIP is a decent starting point but they usually have volunteers that have very minimal training and have seen many times where they have hurt people. I have been doing Medicare for 17 years and was a "captive" agent in the beginning and saw the need for being not tied to an individual company. Medicare supplements can be good but you never mentioned some of the benefits that Medicare Advantage company have, such as dental, hearing aids, vision coverage, health club membership, and even OTC benefits. Another thing is you can have a Medicare Advantage plan with a Hospital Indemnity plan that can cover major costs such as cancer and hospital stays and have premiums at less than half of a Medicare supplement and you can have the extra benefits of the MA plan and lower out of pocket costs. Another thing is that if you live in an area that has zero plan premiums for Medicare Advantage your prescription cost 95% of the time will be lower than if you have a stand-alone RX plan. Bottom line you can spend hours and hours going through all the plans and learning about options and be overwhelmed and still not know what to do. Again the SHIIP department can help but they do not go through the extensive training an independent again has to do every year and they don't have the experience or even the responsibility if they steer you the wrong way. I can sit with a client for a couple of hours and truly walk someone through their options and narrow down what would be in their best interest now and the future. 2 or 3 hours of your time is nothing to spend on something that over a 10 year period may save you literally thousands. It's your choice but if you think talking with your doctors' office or SHIIP office is going to be the best resource you will regret it. Talk to an INDEPENDENT agent with 5 years or more and you will be able to make a MUCH better-informed decision. I (WE) do this at no cost to you and do get paid by the company you sign up for and it makes no difference which company you sign up with....Medicare made it so there is no incentive to steer you to a company that pays more so we truly give you an unbiased opinion of what's best for you! Sorry for going on but I really felt this needed to be covered. You need to know to use a local agent. I am in NW Arkansas, NE OK, and SW MO and know the plans in this area extensively but if you asked me about what to do in Florida, Wisconsin or any other area I would not be able to help other than tell you to find a Local agent. Good luck :)

[@lisad2701]

Scott Widen...I'm south of you in Polk County - could I still contact you when my "Medicare" time comes?

[@scottfreedom2012]

@@lisad2701 Absolutely. I have clients down to Hot Springs and Mena. I am located in Bentonville. I have a website that you can contact me through when the time comes. nwamedicareplans dot com I also have a facebook page that I post good info year-round. If you are on facebook at all use @nwamedicareplans to find me.

[@gulliver3644]

Who and when was responsible for presenting these increases to congress? When were these increases approved?

[@oldgringo66]

Darleen Bernal Dems control the House.

[@katherenewedic8076]

These things get pushed through regardless of who's in charge the thing to know about the US government is that it is the federation the concept of a federation is what it is good about our government the way in which it is instituted is quickly imploding because a federation and a bi-party system cannot coexist the bipartisan works against the federation

[@katherenewedic8076]

Look out for false information coming from all directions in and outside of our borders

[@geowjr]

@@oldgringo66 Yes they do but when every bill they pass to the Senate is tabled and never brought to a vote how do we as a nation move forward.

[@laurascott7718]

Wow! How come everything is so complicated when it comes to the government? this was a great video explaining Medicare and how it all works, and how important preplanning is a few years before actually retiring. I plan on getting Katy’s book, and reading ever chapter. We have been trying to convert IRA money each year into a Roth to avoid RMDs, since we are in a low tax bracket now. I would suggest people run your numbers on what your income will be in retirement, and see where you are. Thanks for a great video!

[@jeffeisenbrei7128]

Private insurance is what's complicated

[@mR-dc4oq]

Laura Scott I just learned about these back door ROTH IRAS- I’ve only just been made aware of them. I see my financial planner on Monday. Converting my one IRA to a Roth IRA is at the top of the list. He will have to tell me how to do it.

[@laurascott7718]

m R it’s easy do, it’s just trying to convert little by little each year to play the taxes, so you are paying as little as possible. Not knowing what taxes will be when your RMDS kick in, if we can pay them now, at these tax rates, in the long run we might be better off.

[@scottm4894]

A Roth conversion is taxable income so you need to watch the amount you convert so you don't exceed the threshold that will increase the cost of your SS part B and part D.

[@laurascott7718]

Scott M exactly. Which is why we are doing this well before we are drawing SS. There’s only so many ways to defer, or delay taxes, so figuring out what works best for you is the key.

[@sherrymelhorn5107]

I have 23 credits for ss, but worked for federal government for 36 years and contributed to medicare. I was told I do not have to purchase medicare part A, right? SS said no. I'm good. Just double checking. Thks

[@SandfordSmythe]

You probably paid into Medicare under the old federal system also.

[@deloressmith542]

I've been trying to get disability since 2006. Well, I get back pay for all them years.

[@simabah]

Hello, My mom is 85 and she has medicare. How do I find out if she has both A and B? I have a suspicion that she only has part B. if so, how do I apply for Medicare Part A and supplemental plan for her? Thank you.

[@barbjefferson2069]

If she receives a monthly social security check, she is automatically enrolled in Part A. You can call 1-800-MEDICARE also to get help.

[@simabah]

@@barbjefferson2069 Thanks.

[@SJ-zu6wh]

Sima Bahman should say on her Medicare card.

[@karenrn6173]

Presently using Tricare for medical needs. In February become 65 and will get Medicare A/B have been told don't worry about supplemental medicare insurance. This is because I will have Medicare A/B and tricare for life. Would love to see stats that tell the truth.

[@jorgepena1316]

Karen, I'm an independent insurance adviser. Any time I hear that someone has TRICARE For Life (TFL), I give them a high-five and say that they have the "Cadillac of Health Insurance." You are correct - you do NOT need additional Medicare supplement coverage. Also, some ignorant / less than-ethical agents might try to enroll you in a "Medicare Advantage" plan by pushing " free dental, vision, and hearing" benefits, or a "free gym membership." People with TFL should NOT get on "Advantage" plans. They will greatly complicate your coverage situation. Hope this helps.

[@yvonnedelories4780]

What is Tricare?

[@Edgar4T007]

Universal health care after this interview

[@aliciabenton5335]

I beg to differ. She is incorrect about these costs, her numbers are way off and the higher income bracket has always paid more on their part B. Just to fill you in, this upcoming year the increase is not 25% it is all based on your income level.

[@joannfahey8423]

Universal is the way to go!

[@reymelchor3024]

How long medicare covers you while you are in the hospital ? Are u covered even ig u are cofined more than 2 years?

[@SandfordSmythe]

There are limitations.

[@mikebeasley6447]

WHAT ABOUT US THAT ARE 62 & AN EARLY RETIREE ????? WHAT ARE WE CHOPPED LIVER????? I HAVE NO COMPANY BENEFITS AT ALL!!!!!!!!!!! WHAT AM I GONNA DO?

[@sdonovanca]

Mike Beasley vote better representatives.

[@mikebeasley6447]

@Ann Beekeners WHO ARE YOU TO MAKE THAT JUDGEMENT?????

[@chuckclark2009]

Unless you are poor enough for Medicaid, your only alternative is the Affordable Care Act (ie Obamacare).

[@erinpeacexo1854]

If you sell your house and take the proceeds without purchasing another house, does that count as income? Will that money impact what you pay in medicare?

[@oldgringo66]

erin peacexo that is income but not “earned income”. Earned income is reported on W-2 forms or self employed income. Interest, dividends and capital gain income as in the sale of real estate is not.

[@upupaway1]

Yes your Medicare will go up. I sold a home in Marina Del Rey, CA and made $250,000 tax free as a single person and my Medicare went from something like $135 a month to $460 a month. It should go down next year but when you sell a house and make money it will go up and it makes no difference whether you reinvest it at all these days. A married couple gets to keep $500,000 of profit from a home sale and a single person gets $250,000 and the IRS tells Medicare and your rate goes up till the next year.

[@erinpeacexo1854]

@@upupaway1 Oh wow. They get you coming and going. So if you make less than $500,000 profit as a married couple, your medicare doesn't go up? We will probably make 150,000 profit.

[@mR-dc4oq]

Invaluable interview!

[@TreasureX7]

So.. All this puzzle was created for "we the people"?

[@natalieberke9120]

Outlander hnd s.ce me a

[@cindychurch925]

New subscriber. Very informative. Much needed. I am 64.5

[@meredithramsey8066]

Hi Cindy, what route did you take?

[@xunyangful]

A lot to learn! thanks!

[@sherrymelhorn5107]

I thought medicare A is thru the government. If I have a insurance plan w/ government, do I still shop for medicare part A?

[@nicoleball8669]

you'll have part automatically if youve worked and paid into the system, B you must call ss to sign up and part c and d are those you must shop for or a supplemental plan if you can afford the higher premiums

[@xbulsara]

These two plump souls seem so comfortable with the commodification and bureaucratization of healthcare.

[@geoffdearth7360]

COBRA is a crock.

[@yarnpower]

This is just one more reason we need Bernie’s Medicare For All, which is not complicated and will save us, senior or not, lots of money on coverage, drug prices and there are no deductibles or copays! And it will cover eyeglasses, dental and hearing aids! Woot!

[@rubyus7332]

yarnpower , Oh, no! It’s a trap! The existing system is complicated, but socialism doesn’t work, period. He even can’t explain where is he gonna get money to cover “All” plus illegals.

[@DKanon]

Respectfully, you sir, have been drinking the Woke cool aid. It's really simple economics. The more people you provide healthcare to that make little or no contribution to the cost the more those that do make contributions will have to pay/subsidize. The only other alternatives to cover the costs are to reduce the the procedures/drugs/benefits covered (this is what Medicare has done) or cut the payments to providers (which results in supply reduction). Doesn't anybody remember what happen to costs under the Affordable Care Act?

[@SJ-zu6wh]

yarnpower you are so wrong,better go shopping and find out the truth!!

[@annbrowning]

Wow! Thank you!

[@ionfuel]

Do you really have to enroll? Is it lawfully required? Small employer or not, are you lawfully required to enroll?

[@geowjr]

No but if you don't and then in the future you need it you will pay a higher premium for waiting.

[@wesleyjakmd]

great information, thanks.

[@PastorBrianLantz]

I'm unsure what you're talking about especially with regard to the donut hole that has been reduced year after year after year. Most plans in San Diego County don't have it. Furthermore premiums seldom exceed $25 a month And the one PPO we do have in San Diego County Is offered by Aetna at 71. To be sure other counties and other States might not enjoy such reductions. But then some counties enjoy even more. This is a ridiculous display. And after trump's executive order named health care twenny twenny You can expect even better rates and better accessibility. I to am a health life certified insurance agent. I haven't a clue what this woman is trying to prove.

[@mR-dc4oq]

B. Lantz I’m not sure what you are talking about. My 82 year old friend pays $500 a month for her Medicare advantage plan. I keep trying to ask her why she pays such an exorbitant amount and I never get a straight answer. She claims that’s what she pays though.

[@scottfreedom2012]

@@mR-dc4oq She needs to see an independent agent. There is no reason she should be paying that much and doubt she has Medicare Advantage. She probably has the same supplement that she first enrolled on and has never tried to change. There are many options for her to change and a seasoned independent agent will be able to help, I promise!

[@scottfreedom2012]

@Olga Williams Please contact an independent agent, they can give you so many more options. Depending on where you live can make a big difference.

[@michaelcoleman6681]

Free Newton's pair

[@InvestingEducation]

Nice show

[@ronaldmcdonald3965]

thanks for explaining

[@fafworld1188]

So many errors in this talk

[@alejandroorona9489]

The sudden steven postsurgically untidy because postage jelly heap save a wide bottle. spiritual, bitter helicopter