OT. Medicare Supplement Insurance Ads

[Dean Hoffman]

It seems like there are a lot of those this year. Old people must have too much money. Every company has the absolute best deal of course.

[Ed Pawlowski]

I get a lot pf phone calls pushing Medicare Advantage plans. They must be profitable. They get all excited when I tell them I want a plan with some added benefits. But they hang up when I tell them I need a sex worker twice a week.

I have an answer for most every caller, especially scammers. Some just say F You and hang up but one told me I'm the most despicable person he ever called. It was like getting a gold star!

One was helpful though. I sometimes get calls for the last person that had this phone number, about 5 years ago. I told him I was Dan' brother and that Dan was shot and killed a couple of weeks ago. Police just let us back in the house so now I'm cleaning up all the blood splatter, etc. He told me I should smoke some cannabis before to relax me and makes the job easier. Very thoughtful of him.

[micky]

This is the re-enrollment period, 6 or 8 weeks long, the only time when one is allowed to change supplemental insurance companies

But I've been wondering, Why can't you change plans any time of the year? Why does it have to be in November or December?

It's the rule but what is the reason for the rule?

[trader_4]

One reason could be so that if you discover you have some new, expensive disease in April you can't just switch and put that burden on another insurance company that has better coverage for that disease than your current insurer.

[Scott Lurndal]

Most of those commercials aren't for medicare supplements, but rather they're simply marketing companies that attempt to connect the sucker^H^H^H^H^H^H client with one of the bigs. Read the fine print, if you can pause the video long enough.

[Scott Lurndal]

If we only had a nationwide insurance pool that everyone was required to contribute to, we'd save tons of money and eliminate a ton of waste (like the 30% of the premium pocketed by the health insurance companies as profit).

This whole medicare supplemental crap is silly. Jumping through hoops, contracting with third party insurance for something that should just be covered a priori.

[Ed Pawlowski]

I'm sure one reason is paperwork. If you have an advantage plan, the government subsidies the insurance company so they have to set up who and how much and also change your benefit check.

My Walgreens prescription plan is paid from my SS account and I'm sure they don't want me changing plans three times a year.

[Ralph Mowery]

Some old people do. With everything paid off, no children at home, a pension, SS, and a RMD from the IRA I have more spendable money than I ever thought of. Much more than while working.

Looking over the cost of medical treatments and what the insurance companies actually pay the hospital and doctors I can see why the insurance companies want yor business for the most part.

[Roger Blake]

Ah, so you believe violence is the best approach. "Required" means the "contributions" are made at gunpoint. No different in concept than a street thug demanding your money or your life. (Cue "but, but, it's not a mugging if the *government* does it!)

[Frank]

They are all Medicare Advantage programs which are probably OK if you are in fairly good shape otherwise they will not get you optimum care as you are group limited and some doctors will not accept them.

I am obverse to heavy advertising figuring the more they spend onadvertising means there is less in it for me.

[trader_4]

Right, like there is no fraud in Medicare run by the government, or other programs for that matter, none at all.

[trader_4]

That's not true. Some Advantage plans are HMO, but there are many that are PPO and you can go out of network, you just have a slightly higher copay. And even with HMOs, as long as you check out the providers and find ones that you need for what conditions you have, it can work.

[Scott Lurndal]

There is fraud in every government program. That's not the governments fault, unless they don't agressively police and prosecute such fraud. The bulk of the fraud comes from large corporations and random medical practices and fly-by-night mail order businesses gaming the system put in place by the GOP politicians they contribute to.

Citizens United hasn't helped in any way.

[micky]

They could easily have a limit on how often you change plans, and also the minimum time before you can change, without limiting the change period to two months.

[micky]

Me too. First year of retirement I wasn't sure I had enough money to last. No children to leave money to so I even thought about an annuity or even a reverse mortgage.

Now I know I have enough money, barring the need for long term in a nursing home and I'm too optimistic to expect that. So I've been trying to spend more money. It's not easy.

Buying a microwave is probably not as simple as just buying an expensive one. Because of all the features, and how they are organized, but I'm not even looking for a used or free one, (For my current one, that lasted 10 years, I was visiting someone I barely knew and the microwave was lying on its side in the driveway. I asked and she said they had melted some plastic in it and they weren't willing to use it anymore. If I had kids eating food from the microwave, I'd be careful too. Anyhow I said I'd clean it, but I coudln't figure out what to clean. It seems not to have poisoned me.)

The bigger problem is other things. The driving force in shopping was to find the lowest priced thing that would work well and do everything I wanted. Now I don't have a rule to go by,

Even the trips I've taken in the last 6 years, 3, 2, 3, and 4 months, have not cost that much. I can literally go for 1 or 2 months on what tourists spend in a week.

Now I spend time trying to pick out charities to leave my money too and to figure out if what I'm leaving my niece, nephew, and one friend's kids is too much or too little.

But I don't get, and would refuse to take, money from the Irish Republican Army. Shame on you.

[micky]

Thank gosh, at least if they hold out to November, they can do that then.

[micky]

Someone I think said that most of the ads are for advantage plans and that's true, but I did see one ad for UHC AARP supplemental. Makes me feel good that my plan is advertised. I know they are still in business. I think I had to join AARP to buy this. It's like 10 dollars a year, but I haven't paid since the first year and in the insurance company doens't seem to care I have mixed views about AARP.

It's nice that I'm able to call any doctor, don't need a referral for a speciallist, and with medicare and supp, the bill is paid, and I don't have to think about it.

[Ed Pawlowski]

I'd probably be OK with an Advantage plan but I know what the bills were for my late wife and a regular supplement covered them all. Blood test sometimes twice a week and a couple of hospital stays over 200k cost nothing out of pocket.

I have no idea of my health future but I do know I'm insurance covered. Peace of mind has value too.

[micky]

Meanwhile, Mike Huckabee, the ex-governor of Arkansas, is doing commercials for Medicare advantage plans, in general, no specific one, and for Relaxium.

While his daughter has been elected governor of Arkansas (after which she will do commericals for Relaxium II.

[Marilyn Manson]

The applicable term as the reason for the rule is "adverse selection".

People who expect to have medical bills will typically sign up for insurance, but people who expect to be healthy may not - until they get sick. It's hard for insurance companies to set rates (and make boat loads of money) if people are coming and going from their plans at random times throughout the year, especially those signing up right before they put in a claim.

And I assume you know it's not just Medicare advantage plans. Every major company I've ever worked for has a Benefits Open Enrollment period around this time of year. Health, dental, life, vision, 401(k)/403(b) contributions. I just completed my enrollment today (last day). SWMBO had to complete hers last week. Advantage plans are due Dec 7th.

Her medical/dental plan was always better than mine, my vision plan is better than hers, so we used to split our coverages - she covered our medical and dental, I covered vision. That is until last year when I went full Medicare Advantage, with a $0 premium plan. With her dropping to single and me not paying any premiums (except a very low vision premium) we're saving over $2K a year.

I'm considering one of the new $19/month plans for 2023. $228 dollars gets you a $500 flex card to cover co-pays and other out-of-pocket stuff. Looking at what's coming up next year, I'm pretty sure I'll spend at least $228 in co-pays, etc., essentially making the plan free to me.