Many people only consider the age 65 rates. By age 80 the cost of plan G will be unaffordable. Around 80 the difference in premium between G and HDG is more than the deductible.
@@Theretirementnerds You have to be a millionaire or maybe even a multimillionaire to go through retirement over a 20 - 25 year period. I keep telling my mother that she was lucky to be a retired NYC employee who gets her supplemental plans (2 of them) for free and they also REIMBURSE HER and her husband for their Part B premiums till he passed away last year so now she gets reimbursed for her part B premiums only. She has been retired for 22 years now. In those 22 years part B premiums have gone up almost every year and she has gotten reimbursed every year. It was also only a part time job in the NYC school system with summers off.
I live in NY & save over $3,000 annually in premiums between a G and a HDG & also because I’m in NY, I can also change over to any other supplement plan at anytime with no underwriting. So if you live in New York State getting a high deductible plan G is a no-brainer.
So if you live in NY you can switch between high deductible G and regular G and this is not possible in other states like NJ ?? We moved from NYC to NJ 25 years ago, maybe we should have stayed in NY....
@@jdenino6022 correct. That's not how it works in most states, but New York and Connecticut work that way. Massachusetts and Vermont are similar with minor differences. Not the case in NJ. Remember, Supplement plan G and N rates in those states with year round open enrollment are some of the highest in the country, but yes, you can switch around with more freedom.
@@Theretirementnerds thanks for your answer. I’m surprised that NJ does not allow for this since it is a blue state like Massachusetts, NY, Vermont and Connecticut
As a heads up switching between a HDG and a Plan G in NY isn't quite as simple as people think it is. While health questions are waived, we've looked into some carriers who have waiting periods for conditions treated in the months leading up to the switch
The deductible is tied to inflation. The more inflation the higher the deductible rises. What you are really doing is using traditional medicare as your primary insurance with its deductibles and copays and the HDG is a lifeline MOOP.
Thanks so much. Another side of the coin is the dramatic increase in Plan G premiums. My G started around 140 a month. Now, at 70, my premium is about 250 a month. I have loved my G, but now wish I had chosen the Plan G HD.
Thanks again Erik. I thought about the HDG but decided to go with Plan N since in addition to the Part B $240 going up every year, the HDG deductible of $2,800 will go up every year as well.
I'm in Florida and so far still like my HDG best. I wouldn't be able to afford reg G and N would be a little tough too. Had a lot of procedures and doctors visits last year and also this year but I'm still money ahead. Will I switch to N for one year at my 2 year mark just so I have that option every 2 years? I will seriously consider it. But not having to get authorizations and going to the doctor I choose whenever I need to is such a breath of fresh air. I'll stay on medigap for as long as I can even it means giving something else up because healthcare is too important.
hdG is $120 less than G and n is $20 less than G where I live in Florida. N doesn't make much sense here. Relatively healthy makes hdG attractive here.
@@Theretirementnerds Florida and NY comprise about 13% of USA population, and there are other similarly situated states. That should at least be mentioned and not buried under alarmist generalities. I'm a rarity with HD-F in Florida. I started on HDG upon retirement at 68, but discovered that the same carrier premium was identical for HD-F. As I still qualified, I switched over to get rid of the double deductible contingency. The premium savings are about $145/month versus N and $180/month versus regular G, and those gaps are only going to get larger due to adverse selection on the low deductible plans. I expect the annual premium savings to exceed the difference in deductible on Plan G by 2026. My Plan D is $6/month!
So what is the average Medicare Part B amount in medical costs that a person accumulates for an average year? Is it easy to switch from a Plan N to Plan High-G? Is it easy to switch from a Plan N to Plan G?
I have a BCBS high deductible plan F and my premiums have gone down the past few years. I now pay $57/mo. I think you have figure in the population of seniors buying the plans. It stands to reason that those who enroll in the HD plan tend to be healthier, while those in the plan G have more health issues, my husband, for instance, who is a cancer patient.
Impossible to know the future, but all signs indicate that G will have more aggressive rate increases over the next little while because those with known health issues go straight to G for it's lesser cost sharing. Great question.
I was really gug-ho over the G-HD, but recently, another Medicare insurance broker had a video where he said something to the effect that, with the G-HD, your Part A amount - that $2600 for getting admitted for the like first up to 60 days that "in-patient period" you could get hit again if you are admitted again after that period (so a new period) in that year and you'd be on the hook for that too. He was the only one that mentioned this and it didn't make sense, your G-HD deductable should be your MOOP for the year, I thought, so that threw me for a loop. But then, your video a little while ago showing the cost breakdown between G, G-HD, and N looked like if you have a bad run of health for multiple years it really can cost more with the G-HD. Are there statistics/averages that show stats for people in the various age brackets and how they fare? I've been fairly healthy so far (just 60) and haven't spent (out of pocket) yet $700 on my retiree medical plan from my former employer. But in 5 yrs, 10 yrs, who knows, it feels like such a gamble sometimes guessing which is right for whom, when...
Thank you for watching and for this comment. We don't have specific stats on how costs relate to ages, but According to the National Council On Aging (NCOA) 95% percent of adults age 60 and older have at least one condition, while 79% have two or more. Not all chronic conditions are expensive to treat, but we don't typically get more healthy as we age. All things to consider in the decision.
My mom was in the hospital 5 times this year, she's in her 80s and is a retired NYC employee so she is on their supplemental plans (there are 2 plans, one for hospital and one for doctors) this is a special Cadillac health plan for NYC retirees, she has had poor health for the last 3 or 4 years with Crohn's disease flare ups unfortunately. Fortunately most of her bills are covered by her outstanding health plan for NYC retirees. She does have to write out a few checks after each hospitalization to the hospital for about $150 from what I see on her checkbook which I go over every few weeks. My mother was fairly healthy in her 60s she got Crohn's disease later in life. She hasn't had cancer except for an early skin cancer that was removed by her dermatologist and she also has AFib which was detected when she turned 81 I believe. She is on a blood thinner (Eliquis) for that which is rather pricey. Not every 80 year old has that experience, quite a few end up in a nursing home with dementia. We should all have access to her health insurance plan (it's making NY go bankrupt covering all these retirees). In between age 60 to 86 she had a few major surgeries such as gall bladder removal, hysterectomy for prolapsed uterus, foot surgeries for hammer toes, and a carotid stent for a blocked carotid artery (she is a former smoker, quit after that surgery). Other than that she was very healthy.
@@jdenino6022 Wow! Thank you for sharing. My mom retired when she was 62 and had this persistant cough, went to the doctors and found out it was a recurrance of breast cancer from ~ 20 yrs earlier. She never had much money so she ended up on Medicaid which covered pretty much everything medically. My brother and I kept her housing, transporation, food, etc., in check and comfortable. I think she was insistant on paying her supplement plan payment from her meager SS check, I don't recall what plan it was or how much, but I dot recall covering any medical bills during her hospitalizations or chemo.
If you go into hospital and incur the part A deductible and some part B expenses like doctor visits, do you still need to pay the additional part B deductible? The hospital amount was only for part of the HD deductible amount.
Not fully following the question. If Part A expenses make up your full HD G deductible amount, you would still have the Part B deductible on top of that. The 2024 deductible is $2,800. So, if you had the Part A deductible of $1,632, you would also have to pay the $240 Part B deductible on top of that if you have HD G. Is that what you're asking?
Sorry it was hard to explain my question. If only part of the HD 2800 was spent on part A expenses (ie the hospital deductible) and the rest of the 2800 was for part B expenses, do I have to pay the 240 in addition to the 2800?
"It depends" is the standard answer, unfortunately. It'll depend on where you live and the companies in your area. This video goes over switching in more detail: th-cam.com/video/Vnf5UmIclgI/w-d-xo.html
The government seems to be in favor of them. They regulate them to ensure they cover a lot. Remember, supplement plans are still run by private insurance companies that are trying to cover costs and stay profitable.
HD G is very popular in NY because you have guarantee issue year round, so you can switch to N or G anytime. However, NY has some of the highest premiums in the country for Plan N and Plan G
@@TheretirementnerdsThank you for your quick response to my question. I am also eligible for the HD F. In my case, Globe Life ins. company offers both. The HD F is $84, and the HD G is $73. What in your opinion makes more sense in my case and in general when both HD are available?
Hi @@ReuvenFreuman I'm not trying to be difficult, but we're not allowed as agents to give plan-specific advice in a setting like this. It's a bummer, but I can't talk about specific plans and their costs, nor make recommendations in this setting. So, as you look for companies and their rates, we'd recommend working with someone licensed in your state and they'd be much better (and legally able) to answer that question in more detail :) I have a partner in New York I'm more than happy to introduce you to, or, if you have an agent already, I'd use him or her. My email is erik@90daysfromretirement.com if you ever want to reach out.
Haven't added it up but my husband had about $200,000 in medical expenses last year so high deductible G seems like a decent deal. i think we paid at least that much in coinsurance on a regular BCBS plan with his job with a $250 deductible. (it's a good plan through his employer). Out of Pocket Maximum is/was about $2000 I think, gotta check the card...it says IND OOPM 2,000. FAM OOPM is 5,000. This doesn't include copays which are $20 to primary doctors and $25 to specialists. This is all very confusing!
In many cases, Medicare plan coverage will be much stronger than employer coverage, so yes, these plans will look good compared to an employer plan. However, your employer plan likely covers prescription drugs, where Supplement plans do not. It can be confusing, but don't go at it alone!
@@Theretirementnerds yeah he got his prescription drugs through express Scripts with a $100 deductible through his union insurance plan. Example: He pays $45 for a 3 month supply of Repatha which is a Tier 2 drug I believe. That coverage is changing to a Medicare drug plan though Express Scripts on January first when he is supposed to start on a Medicare Advantage plan plus the prescription drug plan. His union does not give him enough detail online and we have to enroll him in the Advantage plan to find out the granular details. This is stressing me out! I think the oopm is the Medicare part A deductible plus the Medicare part B deductible added together according to his union’s website. I don’t know if he has any copays or a deductible on doctors or hospitals but I do know it is a PPO plan.
I'm on a plan GHD. I did not pay any doctor's bill for this year yet because I only visited PCP for my annual wellness visit for this year. If I visit specialist, I may have to pay 2023 Part B deductible of $226 for one visit since Medicare approved charge is typically more than that (~$250) and I will need to meet this first prior to 80% pay for remaining balance by Medicare.
Yeah, as mentioned in the video, for those like yourself where you don't have many medical expenses because you are healthy, HDG is great and will save you money. According to the National Council On Aging (NCOA) research, 95% percent of adults age 60 and older have at least one chronic condition, while 78.7% have two or more. Pretty shocking numbers. Now, not all chronic conditions are expensive to deal with, but your good health is a blessing and likely a combination of your habits and your genes. Thank you for sharing!
@@jeffs3627 You pay the part b deductible before medicare starts paying the 80%. After your deductible is paid you only pay 20%. You may have plan F so you don't have to pay the deductible.
Any way you slice it, Medicare kinda screw’s you. You’ve paid into Medicare all you working life and now you have to pay a monthly premium plus decide on additional plans to cover your ass.
It is really sad you have such a jaded position on Medicare and it's costs. For (at least) 10 years or 40 quarters you worked for an employer and you both paid a small FICA tax. That bought you entre into a benefit called Medicare. If you didn't work 10 years, depending on how much under 10 years you worked, you would get the priviledge of paying from $228 to $505 per month to get Part A Hospitalization. Nope it isn't free and it isn't cheap. I bet you get a better value. 2) Have you noticed how much private insurance is for someone close to 65? When I retired at 58 I felt lucky I could keep my employers insurance BUT I had to pay My share AND Their share. I was OVERJOYED when I turned 65 and could go on a more comprehensive health plan (Medicare + D + Medigap) that saved me about $300/mo.
Thank you for doing a great job at comparing Advantage Plans and Supplemental Plan G. I feel wise as an Owl!
Thank you so much for watching! 🦉
Many people only consider the age 65 rates. By age 80 the cost of plan G will be unaffordable. Around 80 the difference in premium between G and HDG is more than the deductible.
This is true. You may find this video interesting:
th-cam.com/video/DgpS_RlA4gk/w-d-xo.html
We look at them over 20 years.
@@Theretirementnerds You have to be a millionaire or maybe even a multimillionaire to go through retirement over a 20 - 25 year period. I keep telling my mother that she was lucky to be a retired NYC employee who gets her supplemental plans (2 of them) for free and they also REIMBURSE HER and her husband for their Part B premiums till he passed away last year so now she gets reimbursed for her part B premiums only. She has been retired for 22 years now. In those 22 years part B premiums have gone up almost every year and she has gotten reimbursed every year. It was also only a part time job in the NYC school system with summers off.
I live in NY & save over $3,000 annually in premiums between a G and a HDG & also because I’m in NY, I can also change over to any other supplement plan at anytime with no underwriting. So if you live in New York State getting a high deductible plan G is a no-brainer.
We agree! Certain states like New York make it hard to ignore HD G for sure!
So if you live in NY you can switch between high deductible G and regular G and this is not possible in other states like NJ ?? We moved from NYC to NJ 25 years ago, maybe we should have stayed in NY....
@@jdenino6022 correct. That's not how it works in most states, but New York and Connecticut work that way. Massachusetts and Vermont are similar with minor differences.
Not the case in NJ.
Remember, Supplement plan G and N rates in those states with year round open enrollment are some of the highest in the country, but yes, you can switch around with more freedom.
@@Theretirementnerds thanks for your answer. I’m surprised that NJ does not allow for this since it is a blue state like Massachusetts, NY, Vermont and Connecticut
As a heads up switching between a HDG and a Plan G in NY isn't quite as simple as people think it is. While health questions are waived, we've looked into some carriers who have waiting periods for conditions treated in the months leading up to the switch
The deductible is tied to inflation. The more inflation the higher the deductible rises. What you are really doing is using traditional medicare as your primary insurance with its deductibles and copays and the HDG is a lifeline MOOP.
Well said!
I can't thank you enough for making these videos!! So informative!!!
This makes us so happy! Thank you Dianna!
Thanks so much. Another side of the coin is the dramatic increase in Plan G premiums. My G started around 140 a month. Now, at 70, my premium is about 250 a month. I have loved my G, but now wish I had chosen the Plan G HD.
Very true! We've seen considerable increases recently
Thanks again Erik. I thought about the HDG but decided to go with Plan N since in addition to the Part B $240 going up every year, the HDG deductible of $2,800 will go up every year as well.
Thank you Tom. You are correct there. Prices definitely do not tend to go down...
I'm in Florida and so far still like my HDG best. I wouldn't be able to afford reg G and N would be a little tough too. Had a lot of procedures and doctors visits last year and also this year but I'm still money ahead. Will I switch to N for one year at my 2 year mark just so I have that option every 2 years? I will seriously consider it. But not having to get authorizations and going to the doctor I choose whenever I need to is such a breath of fresh air. I'll stay on medigap for as long as I can even it means giving something else up because healthcare is too important.
HDG is very popular in Florida. Some of the highest regular G rates in the country...
Thank you for sharing!
If you get sick on December 30 or 31st, go into the hospital you will have to pay two year's worth of deductibles which could run you close to 6,000.
Thank you for the Medicare information plan G Thank you 1🇵🇷🇺🇸🏝
Thank you for watching Eddie!
@90DaysFromRetirement your welcome, thank you
They do except Medicare original here in Puerto Rico 🇵🇷, but I'm not sure if all doctors here in Puerto Rico, except Medicare original 🤔
It's ACCEPT, not EXCEPT, completely opposite definitions
hdG is $120 less than G and n is $20 less than G where I live in Florida. N doesn't make much sense here.
Relatively healthy makes hdG attractive here.
Agree with you! Florida is one of those outlier states where Regular G and N get very expensive. Thank you for sharing!
@@Theretirementnerds Florida and NY comprise about 13% of USA population, and there are other similarly situated states. That should at least be mentioned and not buried under alarmist generalities.
I'm a rarity with HD-F in Florida. I started on HDG upon retirement at 68, but discovered that the same carrier premium was identical for HD-F. As I still qualified, I switched over to get rid of the double deductible contingency. The premium savings are about $145/month versus N and $180/month versus regular G, and those gaps are only going to get larger due to adverse selection on the low deductible plans. I expect the annual premium savings to exceed the difference in deductible on Plan G by 2026. My Plan D is $6/month!
So what is the average Medicare Part B amount in medical costs that a person accumulates for an average year?
Is it easy to switch from a Plan N to Plan High-G?
Is it easy to switch from a Plan N to Plan G?
What happens with HDG premiums over time? .
All supplement premiums A-N are subject to increase yearly based on age unless policy states otherwise.
Same with HD G. Premiums will increase slowly over time
I have a BCBS high deductible plan F and my premiums have gone down the past few years. I now pay $57/mo. I think you have figure in the population of seniors buying the plans. It stands to reason that those who enroll in the HD plan tend to be healthier, while those in the plan G have more health issues, my husband, for instance, who is a cancer patient.
Will the HD plan G have a lower rate of premium inflation over plan G or N?
Thanks
Impossible to know the future, but all signs indicate that G will have more aggressive rate increases over the next little while because those with known health issues go straight to G for it's lesser cost sharing. Great question.
I was really gug-ho over the G-HD, but recently, another Medicare insurance broker had a video where he said something to the effect that, with the G-HD, your Part A amount - that $2600 for getting admitted for the like first up to 60 days that "in-patient period" you could get hit again if you are admitted again after that period (so a new period) in that year and you'd be on the hook for that too. He was the only one that mentioned this and it didn't make sense, your G-HD deductable should be your MOOP for the year, I thought, so that threw me for a loop. But then, your video a little while ago showing the cost breakdown between G, G-HD, and N looked like if you have a bad run of health for multiple years it really can cost more with the G-HD. Are there statistics/averages that show stats for people in the various age brackets and how they fare? I've been fairly healthy so far (just 60) and haven't spent (out of pocket) yet $700 on my retiree medical plan from my former employer. But in 5 yrs, 10 yrs, who knows, it feels like such a gamble sometimes guessing which is right for whom, when...
Yes, we need a crystal ball to figure this out.
@@kim.in.nature. indeed! I'm certain I don't want an 'Advantage' plan but either way ya go it's going to be expensive over time it seems.
Thank you for watching and for this comment. We don't have specific stats on how costs relate to ages, but According to the National Council On Aging (NCOA) 95% percent of adults age 60 and older have at least one condition, while 79% have two or more.
Not all chronic conditions are expensive to treat, but we don't typically get more healthy as we age. All things to consider in the decision.
My mom was in the hospital 5 times this year, she's in her 80s and is a retired NYC employee so she is on their supplemental plans (there are 2 plans, one for hospital and one for doctors) this is a special Cadillac health plan for NYC retirees, she has had poor health for the last 3 or 4 years with Crohn's disease flare ups unfortunately. Fortunately most of her bills are covered by her outstanding health plan for NYC retirees. She does have to write out a few checks after each hospitalization to the hospital for about $150 from what I see on her checkbook which I go over every few weeks. My mother was fairly healthy in her 60s she got Crohn's disease later in life. She hasn't had cancer except for an early skin cancer that was removed by her dermatologist and she also has AFib which was detected when she turned 81 I believe. She is on a blood thinner (Eliquis) for that which is rather pricey. Not every 80 year old has that experience, quite a few end up in a nursing home with dementia. We should all have access to her health insurance plan (it's making NY go bankrupt covering all these retirees). In between age 60 to 86 she had a few major surgeries such as gall bladder removal, hysterectomy for prolapsed uterus, foot surgeries for hammer toes, and a carotid stent for a blocked carotid artery (she is a former smoker, quit after that surgery). Other than that she was very healthy.
@@jdenino6022 Wow! Thank you for sharing. My mom retired when she was 62 and had this persistant cough, went to the doctors and found out it was a recurrance of breast cancer from ~ 20 yrs earlier. She never had much money so she ended up on Medicaid which covered pretty much everything medically. My brother and I kept her housing, transporation, food, etc., in check and comfortable. I think she was insistant on paying her supplement plan payment from her meager SS check, I don't recall what plan it was or how much, but I dot recall covering any medical bills during her hospitalizations or chemo.
If you go into hospital and incur the part A deductible and some part B expenses like doctor visits, do you still need to pay the additional part B deductible? The hospital amount was only for part of the HD deductible amount.
Not fully following the question.
If Part A expenses make up your full HD G deductible amount, you would still have the Part B deductible on top of that.
The 2024 deductible is $2,800.
So, if you had the Part A deductible of $1,632, you would also have to pay the $240 Part B deductible on top of that if you have HD G. Is that what you're asking?
Sorry it was hard to explain my question. If only part of the HD 2800 was spent on part A expenses (ie the hospital deductible) and the rest of the 2800 was for part B expenses, do I have to pay the 240 in addition to the 2800?
Can someone be able to change later from HDG to regular G?
"It depends" is the standard answer, unfortunately.
It'll depend on where you live and the companies in your area.
This video goes over switching in more detail:
th-cam.com/video/Vnf5UmIclgI/w-d-xo.html
Why does it seems the government is not in favor of Medigap policies? They’re much too expensive.
The government seems to be in favor of them. They regulate them to ensure they cover a lot. Remember, supplement plans are still run by private insurance companies that are trying to cover costs and stay profitable.
Interesting analysis. How does this work in states like New York, where I live?
HD G is very popular in NY because you have guarantee issue year round, so you can switch to N or G anytime. However, NY has some of the highest premiums in the country for Plan N and Plan G
@@TheretirementnerdsThank you for your quick response to my question. I am also eligible for the HD F. In my case, Globe Life ins. company offers both. The HD F is $84, and the HD G is $73. What in your opinion makes more sense in my case and in general when both HD are available?
Hi @@ReuvenFreuman I'm not trying to be difficult, but we're not allowed as agents to give plan-specific advice in a setting like this. It's a bummer, but I can't talk about specific plans and their costs, nor make recommendations in this setting.
So, as you look for companies and their rates, we'd recommend working with someone licensed in your state and they'd be much better (and legally able) to answer that question in more detail :)
I have a partner in New York I'm more than happy to introduce you to, or, if you have an agent already, I'd use him or her.
My email is erik@90daysfromretirement.com if you ever want to reach out.
Haven't added it up but my husband had about $200,000 in medical expenses last year so high deductible G seems like a decent deal. i think we paid at least that much in coinsurance on a regular BCBS plan with his job with a $250 deductible. (it's a good plan through his employer). Out of Pocket Maximum is/was about $2000 I think, gotta check the card...it says IND OOPM 2,000. FAM OOPM is 5,000. This doesn't include copays which are $20 to primary doctors and $25 to specialists. This is all very confusing!
In many cases, Medicare plan coverage will be much stronger than employer coverage, so yes, these plans will look good compared to an employer plan. However, your employer plan likely covers prescription drugs, where Supplement plans do not.
It can be confusing, but don't go at it alone!
@@Theretirementnerds yeah he got his prescription drugs through express Scripts with a $100 deductible through his union insurance plan. Example: He pays $45 for a 3 month supply of Repatha which is a Tier 2 drug I believe. That coverage is changing to a Medicare drug plan though Express Scripts on January first when he is supposed to start on a Medicare Advantage plan plus the prescription drug plan. His union does not give him enough detail online and we have to enroll him in the Advantage plan to find out the granular details. This is stressing me out! I think the oopm is the Medicare part A deductible plus the Medicare part B deductible added together according to his union’s website. I don’t know if he has any copays or a deductible on doctors or hospitals but I do know it is a PPO plan.
I'm on a plan GHD. My 2023 part b was met with 3 different drs ($226) I only paid $144 is this common?
I'm on a plan GHD. I did not pay any doctor's bill for this year yet because I only visited PCP for my annual wellness visit for this year. If I visit specialist, I may have to pay 2023 Part B deductible of $226 for one visit since Medicare approved charge is typically more than that (~$250) and I will need to meet this first prior to 80% pay for remaining balance by Medicare.
Yeah, as mentioned in the video, for those like yourself where you don't have many medical expenses because you are healthy, HDG is great and will save you money.
According to the National Council On Aging (NCOA) research, 95% percent of adults age 60 and older have at least one chronic condition, while 78.7% have two or more. Pretty shocking numbers.
Now, not all chronic conditions are expensive to deal with, but your good health is a blessing and likely a combination of your habits and your genes. Thank you for sharing!
@@jeffs3627 You pay the part b deductible before medicare starts paying the 80%. After your deductible is paid you only pay 20%. You may have plan F so you don't have to pay the deductible.
Any way you slice it, Medicare kinda screw’s you. You’ve paid into Medicare all you working life and now you have to pay a monthly premium plus decide on additional plans to cover your ass.
It can be a pain. This video goes into the topic of why Medicare isn't Free:
th-cam.com/video/n-2T4USvKFk/w-d-xo.html
May be of interest.
It is really sad you have such a jaded position on Medicare and it's costs.
For (at least) 10 years or 40 quarters you worked for an employer and you both paid a small FICA tax. That bought you entre into a benefit called Medicare.
If you didn't work 10 years, depending on how much under 10 years you worked, you would get the priviledge of paying from $228 to $505 per month to get Part A Hospitalization. Nope it isn't free and it isn't cheap. I bet you get a better value.
2) Have you noticed how much private insurance is for someone close to 65? When I retired at 58 I felt lucky I could keep my employers insurance BUT I had to pay My share AND Their share. I was OVERJOYED when I turned 65 and could go on a more comprehensive health plan (Medicare + D + Medigap) that saved me about $300/mo.