Medicare enrollment is about to end for this year. In two days, this should alleviate the constant pounding to buy insurance plans. Some might be confused by the constant barrage of supposedly sweet deals, and the commercials reflect the attempt to win you over with "free" stuff. Regardless, there are few things some don't know.
Those commercials promising special deals come with some spare baggage. First, the less you have to pay, the more you're restricted from choosing your health professionals. The policies that actually give you money through health credit cards demand you either go to the doctors they can coerce into signing a contract with the insurance carrier, or they don't pay anything. In larger population areas, this allows you to see the better doctors, but that usually means long waiting times for visits. In rural areas, long drives might be necessary to just go for a checkup, and in some situations, a large part of your state the insurance companies might not even include your area.
The most important thing to remember is that some of the commercials are not actually by the insurance companies. They are commercials where insurance agents pay a fee to a company, which transfers the caller to them for a possible new client. Insurance agents receive a fee for every person they get to sign on a policy, and regardless of your state, are licensed and must follow insurance laws. The laws of that state dictate what they can offer, and the slick commercials are basically throwing you into a pool, which is filled with those agents willing to take a chance on getting enough policies to pay for their fee to be included. You meet your agent by a phone call, and probably have absolutely no information on their reliability, or whether they will be honest about the policy you're about to buy,
If I had to recommend what people should do when they have to deal with Medicare, I would say read everything you can about the system, find a good insurance agent to represent you, and if you can afford it, go with a supplemental policy called a Medigap policy. Those pay whatever Medicare doesn't pay, and allow you to see any doctor you want.
High deductable G plan works for me.
ReplyDeleteIn a perfect world, a low deductible Plan G would work for most people, and be inexpensive, but with the government involved, there are a plethora of bureaucrats trying to raise a family on the salary they make administrating.
DeleteAs Heinlein said...TANSTAAFL. Unfortunately a lot of people are either unwilling or incapable of grasping that. If you want something you're going to pay for it one way or another. Unless politicians get involved. Then they pawn the costs off onto someone else....in exchange for your vote.
ReplyDeleteThe amount of money wasted in bureaucracy is astounding. The amount of money slushed into campaign, political activity, and is investments is unconscionable.
DeleteInsurance is a mess.
ReplyDeleteAnd well insulated from too much by greasing the palms of politicians.
DeleteI have a list started that has grown to hundreds of pages. I have been writing down all the news drugs that I am supposed to ask my doctor if they are right for me... Personally I would rather get back to a time when Americans weren't required to volunteer 50% of their life in taxes.
ReplyDeleteWith everyone that's worked legally in the last few decades, around 20% was taken from the top for Social Security and Medicare. Placed in an interest bearing account over a lifetime would yield a tremendous amount of money, although inflation would have surpassed any gain from interest.
Delete