Medicare premiums have lowered last three years
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wrote on 8 Oct 2020, 16:53 last edited by
This I got from medicare.gov in an open enrollment email.
"Mark your calendars — Medicare Open Enrollment starts October 15, 2020! It's your chance to review your coverage and see if you can save money next year. Plan premiums are at historic lows — they've dropped an average of 34% over the last 3 years, and in some states up to 60%! So you may be able find a less expensive plan that meets your needs.
Wondering what's new this Open Enrollment? Starting in 2021, some plans may offer a month's supply of insulin for as low as $35."
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wrote on 8 Oct 2020, 17:22 last edited by
That sounds good to me.
I had my annual physical this morning, I assume my cost will be zero.
I am healthy.
Mr Trump has given us such a wonderful health care system!
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wrote on 8 Oct 2020, 17:45 last edited by
Probably due to Medicare Advantage. A private healthcare insurance initiative.
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wrote on 8 Oct 2020, 18:17 last edited by
Yes, they are probably talking about a Supplement or Advantage plan.
Last year I had an Advantage plan, this year I have a supplement plan.
I expect the base premium for Medicare Part B (roughly $1,735 annual premium depending on income) won't drop 60%.
The Supplement & Advantage plans are offered by private insurance companies. Premiums start at $0.00, yes you read that right some insurance plans cost zero dollars, and they have benefits. Private insurance plans are wonderful.
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This I got from medicare.gov in an open enrollment email.
"Mark your calendars — Medicare Open Enrollment starts October 15, 2020! It's your chance to review your coverage and see if you can save money next year. Plan premiums are at historic lows — they've dropped an average of 34% over the last 3 years, and in some states up to 60%! So you may be able find a less expensive plan that meets your needs.
Wondering what's new this Open Enrollment? Starting in 2021, some plans may offer a month's supply of insulin for as low as $35."
wrote on 8 Oct 2020, 18:30 last edited by@Mik said in Medicare premiums have lowered last three years:
This I got from medicare.gov in an open enrollment email.
"Mark your calendars — Medicare Open Enrollment starts October 15, 2020! It's your chance to review your coverage and see if you can save money next year. Plan premiums are at historic lows — they've dropped an average of 34% over the last 3 years, and in some states up to 60%! So you may be able find a less expensive plan that meets your needs.
Wondering what's new this Open Enrollment? Starting in 2021, some plans may offer a month's supply of insulin for as low as $35."
Do you know if that's like-for-like coverage? Or it's more plans offered with lower cost (and lower coverage) options?
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@Mik said in Medicare premiums have lowered last three years:
This I got from medicare.gov in an open enrollment email.
"Mark your calendars — Medicare Open Enrollment starts October 15, 2020! It's your chance to review your coverage and see if you can save money next year. Plan premiums are at historic lows — they've dropped an average of 34% over the last 3 years, and in some states up to 60%! So you may be able find a less expensive plan that meets your needs.
Wondering what's new this Open Enrollment? Starting in 2021, some plans may offer a month's supply of insulin for as low as $35."
Do you know if that's like-for-like coverage? Or it's more plans offered with lower cost (and lower coverage) options?
wrote on 8 Oct 2020, 18:37 last edited by@xenon said in Medicare premiums have lowered last three years:
@Mik said in Medicare premiums have lowered last three years:
This I got from medicare.gov in an open enrollment email.
"Mark your calendars — Medicare Open Enrollment starts October 15, 2020! It's your chance to review your coverage and see if you can save money next year. Plan premiums are at historic lows — they've dropped an average of 34% over the last 3 years, and in some states up to 60%! So you may be able find a less expensive plan that meets your needs.
Wondering what's new this Open Enrollment? Starting in 2021, some plans may offer a month's supply of insulin for as low as $35."
Do you know if that's like-for-like coverage? Or it's more plans offered with lower cost (and lower coverage) options?
Got to wade through the plans, which is tough for some seniors. But...All plans have advantages and disadvantages, but if you pick the right plan for you, your costs can be lowered tremendously.
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wrote on 8 Oct 2020, 18:54 last edited by
Coverage is dictated by Medicare. It's the same no matter what kind of plan you pick. The difference is in where you can get care. With traditional Medicare/Supplemental/Part D you can go anywhere in the US, and the coverage outside the country is better. with Advantage plans it's an HMO or PPO plan so you have to be in network.
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Coverage is dictated by Medicare. It's the same no matter what kind of plan you pick. The difference is in where you can get care. With traditional Medicare/Supplemental/Part D you can go anywhere in the US, and the coverage outside the country is better. with Advantage plans it's an HMO or PPO plan so you have to be in network.
wrote on 8 Oct 2020, 19:11 last edited byOnly viable way to contain costs is narrow networks, for so many reasons.