The Differences are Bigger Than You Think | Medicare Advantage vs Supplement
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- เผยแพร่เมื่อ 30 พ.ค. 2024
- Looking for an unbiased, comprehensive review of Medicare Advantage and Supplement plans? Look no further! In this video, we'll discuss the pros and cons of each type of plan, and help you make an informed decision about which is best for you.
Medicare Advantage and Supplement plans are a big part of the healthcare system in the United States, and it can be difficult to understand the different options available to you. In this video, we'll provide you with all the information you need to make an informed decision about Medicare Advantage and Supplement plans. We hope this video will help you with your Medicare decisions.
Need help? Email me!
Erik@TheRetirementNerds.com
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This video is NOT sponsored.
The Retirement Nerds is the no-cost educational platform and serves to offer information around Medicare, Social Security, Financial Planning, and Estate Planning.
⏰ CHAPTERS ⏰
0:00 Disclaimer
0:19 Key Assumptions
2:10 Let's Get Ready to Rumble!
2:17 Monthly Premiums
5:54 Other Included Coverages
7:04 Perks
8:01 Cost Sharing
11:46 Networks
17:31 Administration
27:10 Final Tally
27:21 Who Leans Advantage?
28:41 Who Leans Supplement?
29:31 Exceptions
30:13 Agent Incentives
31:35 Animals
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#medicare #medicareadvantage #90daysfromretirement
Federal Disclaimer:
We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all your options.
Regular Medicare plus a Plan G supplement was the absolutely obvious choice to me, because I want to choose my practitioner, treatment, facility, etc., rather than being tied down to one particular group.
As a person who got the unexpected news of cancer , I am thankful for having chosen a supplemental plan. My cats also appreciate the fact I didn’’t have to cut into their food budget!
Sorry about the news. I hope you are well! Thank you for spending time with us!
I was diagnosed with cancer in 2022 at age 64, 1 year before qualifying for Medicare at age 65. Made the decision to purchase a Part G supplemental plan in 2023 (at which time cancer in remission) easy. Max. coverage and can see any doctor that accepts Medicare. Premiums are affordable, though they'll increase yearly both with inflation and age adjustments. But I already have a chart of the age adjustments, so that helps in planning. I did also have to buy a Part D drug plan, but wasn't a big deal. I'm paying less than $20/mo. I pay more for pet food.
@laxnative4622 thank you for sharing your experience!
I was hospitalized with a heart issue. I spent a week in hospital I had an advantage plan. I live 1 1/2 blocks from a hospital but they didn’t participate in my plan (1) I went to a hospital 1/2 hour away that did. I was sent to a rehab facility after the week in the hospital.
2 days after arrival I was informed I contracted COVID. I was isolated for 2more weeks total of three weeks on my back in bed.
When rehab began I couldn’t even stand. After 1week of intense pain and effort I was able to stand. I then received a call stating that my insurance had ended coverage and that I would be sent home I would require home care at my expense.
I appealed and was granted a few more days. It was long enough to switch to plan g just in time. My cat was my inspiration.
Everything is fine, I am walking and able to function at home now.
Good luck!
As a 63 yo hep cat, I'm watching as many retirement videos as I can, and must say this is probably the most useful, concise, and apparently unbiased video I've seen to date. Describing who would benefit the most from each plan, is the perfect way to help people make an informed decision. Good job!
Thank you so much for watching and saying this! Means a lot! And way to stick through to the end :)
with you, we're so screwed.
I won't be 65 until June 2024, but have been doing a lot of research about this topic. I have watched several videos by others that explained the difference between the 2 ways to go, but had yet to find one that I felt comfortable passing on to my other 64 year old friends. My search has ended. Yours is the most even-handed, non-emotional one out there. You aren't just parroting the biased views of others.
This means a lot! Thank you so much for taking the time to watch and share! 🦜
Medicare Advantage is NOT Medicare but Private PPO or HMO Health Insurance. What the TV Commercials don't tell you is that actually you have signed away your rights to original Medicare when you choose an Advantage Plan. There is a 12 month window to return to original Medicare without Medical Underwriting in most States.
Advantage Plans are better than nothing and are an option for people with low monthly retirement incomes.
@@guitarhillbilly1482 Medicare Advantage is an alternative to original Medicare, managed by private companies. One must first be enrolled in Medicare Parts A & B to be eligible for an Advantage plan. You can always return to original Medicare in the future without being subject to underwriting, but will be subject to underwriting to get a Supplement, in many cases.
"Better than nothing" until you develop a serious medical issue and start racking up denial of service for treatments that your doctor orders. A lot of health groups are no longer taking "Disadvantage Plans" for this reason. Their liabilities increase exponentially due to the sub par treatment they are limited by MA plans. It's becoming a huge issue in many areas. Seniors are dying prematurely every day because of these plans. Medicare Advantage isn't medicare.... It's privatized insurance that the companies are making double the profits vs Medigap plans. It's by far the biggest scam of all. The government is paying between $1200 to $1800 monthly per person on these plans. Guess whos supplementing this waste. Those of us on regular Medicare.
Spike has given you 2 barks out
of 3 , for your good work.🐕
I have been a Medicare insurance agent for over 40 years
I am 68 and now on Medicare… I chose a Medicare Supplement
Thank you for sharing!
Why did you choose a supplement?
@@mont5584because the advantage plan is shit unless you’re healthy till death
Me too , I was an agent too and I pick the supplement plan
The elephant never forgetets to say thanks to you after her 95 days in skilled nursing care. She went home healthy with her finances in place.
I'm 67 and still working but planing to retire at 70. I've watched countless of your competitor videos on YT and through this process educated myself about the choices of Medicare. But your video was the BEST, most comprehensive and unbiased I've ever seen and your youthful looks belie your wise old owl wisdom.
This means a lot. Thank you for watching and saying such nice things. Lots of great channels and agents out there 🙂
For sure!
You must have a qualified insurance plan at work. Medicare and retirement are two different things. They want you paying for Part B as soon as you turn 65. Otherwise life long penalties. For example if you don't sign up within 3 months of your 65 birthday you have to wait a year then pay a 10% penalty for life.
@timsteinkamp2245 hi Tim, I think your comment implied this, but just want to make sure. You are not penalized if you postpone Medicare past 65 as long as you are covered by a group health plan through work.
@@Theretirementnerds Yes, I said qualified because I thought that was in the rules but that should include most or all group health plans through work. When you do change over to Medicare you have to prove it and I'm not sure what documentation they require. It is complicated because for me I had no insurance but many do and then there are new citizens that need to have credits or pay more and over income levels pay more. Very confusing but check it out early for your situation.
I’m 68 and going part time at work so I’m losing my insurance. When my parents needed ivermectin their advantage plan dr said he was not allowed to prescribe it. My friend who had a supplement went to her doctor and he gave her the rx. Based on this info I’m leaning toward a supplement to allow for my independent nature. I prefer freedom. Run wild horses, run! I make my own future decisions, not a ‘plan’ doctor. Granted, according to this situation I would save money with an advantage plan because I’m on zero meds, no medical problems and it would be cheaper. Nope. I’ll take freedom and choice. I eat food I make from scratch, exercise, walk my dog everyday, not a TV watcher, and have self discipline. We should be the captains of our own physical destiny. I’ve started raising chickens for healthy eggs and found a lady that provides raw milk. Ok, done with my animal references and rant. God bless all of you.
You just don't know, you're healthy but things change quickly at times, out of no where. Run wild an free and confident you don't have to about that tricky policy of not being able to return to that medicare supplement plan😊
What a great and thorough explanation. Thank you, most sincerely. I, and a friend, are both seniors. She with and Advantage Plan and I chose Supplemental. We both have the exact same diagnosis. Routine testing is required. Her coverage is approved for 1 time per year and has been denied for more frequent testing. My testing is approved for every time my doctor wants to do it (every 3 months). I will be pointing many to your video. Just to make the point: I have another friend, also a senior, that is older than me but very healthy. She's very happy with her no cost Advantage Plan. Thanks so much. Like an elephant, I'll never forget (God willing ☺)
Thank you so much!! 🐘 so glad it was helpful and thank you for sharing your experiences!
I'm about 2 years out from retirement, and have been wondering about the differences between the two sets of plans. This video did an outstanding job teaching me about the pros and cons of each, and was very even-handed as far as I can tell. Thanks! Go (Louisiana Tech) Bulldogs!
So glad it was helpful and thank you for tuning in! 🐶
This video was so informative. My late husband was blessed to have a Supplement Plan G. Prior to beginning Medicare he began having neurological problems and was diagnosed with ALS. Thankfully we were able to receive the treatments he needed without the stress of co-pays, referrals, or pre authorizations. Instead of the healthcare process being a bear to deal with, it seemed more like leading a lamb.
So sorry to hear about your husband. Yes, the ease of use is quite different between the two plans. I like your animal analogy 🙂
You never mentioned underwriting, questions about your health, in order to switch from a MA to Original Medicare if you aren't happy with the Advantage plan you chose. I understand it can be very hard to switch if you have an underlying condition. What are some questions they might ask to deny you from switching?
@debbycoffey4788 we have a video that goes over switching. And, we just finished filming an update to this video where we go through the medical questions in more detail that we hope to release next week. Hopefully you are subscribed and can see that when it comes out.
Here is the existing video:
th-cam.com/video/djuGeI829M4/w-d-xo.html
@@Theretirementnerds "The ease of use" should be a 👑 (crown) all by it's self on the supplemental side. My future healthcare in retirement is towards a Plan N.
Do you have any Plan N vs. Plan G videos? I know it all depends on your zip code. I am very lucky I don't live in a birthday state, as this just raises the cost of everyone's plan.
From my understanding healthier people will pick N, for a reduced price per month over G, because their co-pays would not exceed the yearly price for G plans. Many people don't want to fool with co-pays at doctors offices, $50 for ER. It's cheaper because the patient takes on more risk. That reduction in plan price, after many years, a decade or more, can make the difference of someone keeping their plan and not have take an Advantage plan later.
If you do run into a doctor that is non-participating in Medicare, which many say it's really very rare(some say only 0.7%)---besides you being the patient asking, that doctor has to inform you up front. Those non-participating doctors are not contracted with supplemental plans, therefore they can only bill you the patient. They need you to approve their fees before they can give you a service. Medicare does penalize doctors who are non-participating, so any excessive charge, the doctor won't get all of it.
In a big healthcare group, including big hospital groups it's all or none. They either all participate or none participate.
As of 2024 12,000 baby boomers reach retirement age everyday. For a doctor to try to squeeze a few extra dollars in excessive charge, after they are penalized, doesn't make any sense. They will just have less patients, and a huge headache to try to get patients to pay their bill.
I'm turning 65 in a couple of months I would love to afford a G plan with limited income I'll probably have to chose an advantage plan
Your video was very good and informative. I'm currently on Supplement Plan G and thought about switching to Advantage to save the monthly fee. Even though I'm healthy and I haven't had to go to a doctor in years, I decided I don't want to worry about something happening and having to pay out more money if I'm on an Advantage Plan. I'm staying where I am. After listening to you with me, my dog completely agrees. 😋
Thank you so much for sharing this! So happy it was helpful for both of you 🐕🙂
The problem I’ve heard is that once you go to the advantage plan, you can never get back to the G plan again! If you want the G plan, you have to take it right when it’s offered the first time.
@simon359 I don't believe that's true. You can switch back, IF you're not having major health issues. They ask about your health. With regular things you'll be fine, but if it's major, you won't be able to switch back. Even though I've been very healthy, i.e., haven't even had a cold since 1986, that lasted a day or 2, you just never know what can happen, so I decided to stay on Plan G. If anything happened I don't like the idea of constant co-pays and having to pay a percentage of any hospitalizations. Plus, my medical at work was free for years, but the last 2 jobs I had, my medical was just over $300 a month (and that was in the legal field), so Plan G is cheaper than what I was paying through work.
How May I contact you for help on my decisions I need to make? The cats are worried for me as my retirement date fast approaches.
@@buckywill9322 we'd be honored to help you (and the cats) in any way we can.
Feel free to send me an email to erik@90daysfromretirement.com and include your zip code 😊
I’m a nurse case manager for a large Medicare advantage HMO. Your explanations are well structured and delivered. Great work in this year of the Dragon!
Thank you so much for watching and sharing this!
I am also a Nurse Case Manager and he did an excellent job explaining the different choices of health care for those over 65. I love my fur baby puppies. It was well worth it to watch all your videos to the end. It is a maze.
@cindykeith9427 thank you so much! You case managers are the front lines and deal with this every day. Appreciate you, and your comments mean more than you know!
As a newish agent, this video was so informative and makes me feel like I can be even more of an unbiased asset to educate and guide my clients. Sure, this is how I make a living, but I need to feel like I’m helping people make a GOOD decision. Otherwise, I would not be able to sleep soundly at night. I have seen how ugly this industry can get and it’s really a shame that some agents put more value on a paycheck over a fellow human being’s livelihood.
Great video! I give it 8/8 tentacles. 🐙😉
Haha thank you so much Kristen! 🐙
Agree with you. We are real people helping other real people. That means something to us.
Dogs and koala bears are my favorites. You made that explanation of Advantage and supplemental coverage crystal clear and easy to remember
Thanks.
Thank you so much for watching!
🐶🐨
this white elephant agent learned a lot watching your video, thanks for putting it out there.
So glad it was helpful! Thank you for spending some time with us!
As a cancer patient, my supplement G plan is serving me very well.
Thank you for sharing. I hope treatments are going ok!
One additional thought for people who are living off their savings for example no pension the low or no premium costs of a advantage plan would be important
As a new agent I am very grateful for your video. This is the type of agent that I inspire to be, one that is highly knowledgeable, one that educates and truly have a heart for people. God bless. 🐟
So glad you found us! Thank you for watching!
I have been on a UHC Advantage HMO plan for 7 years. It has paid for all of my big treatments including a detached retina and a knee replacement. They both cost me about $250. I pay 0 premium. I have saved over 26K in premiums. I exercise everyday. I have never smoked and don't have any chronic problems yet. I think I'm kind of stuck with it as I will pay a hefty price for a Suppliment plan at my current age.
Thank you so much for sharing your experience!
You were as fair as could be in this review. One thing that could be important that was not mentioned is that you can be denied a supplement plan if you have health problems and apply outside the open enrollment period. I ended up with a no premium PPO advantage plan with out of network coverage with no cost increase. It has worked well for me. I love dogs.
Thank you for watching! 🐶🐕
This is our video that covers switching, because that gets complicated...
th-cam.com/video/Vnf5UmIclgI/w-d-xo.html
As a rhinoceros a few years from sign up time, I am tending toward original medicare and supplement. Those "second three categories" are way more of a concern for me. I'd rather pay the premium and not have the risk of higher costs when i use the medical system. I'm currently struggling to pay off accumulated coinsurance from care after an accident. I also am very averse to needing referrals. This was one of the best videos - or presentations in any format - of this topic. Comprehensive, well paced, well balanced. It answered ALL my questions, and that is really saying something with this ludicrously complex issue. It really makes me want to move to a country where medical carfe is just taken care if without any of this profit-based bullshit. Thanks for sharing this info to all.
Makes me so happy to know this was helpful. Thank you so much for not just watching, but taking the time to write this. Means a lot!
Balance coverage. Thank you. Balanced and complete like an elephant.
The elephant in the room is the future of Medicare and it’s solvency
Only because the Gov has stolen from our SS & Medicare funds to the tune of TRILLIONS OF DOLLARS! Vote Red to repay & preserve our benefits! Contact your representatives frequently to
DEMAND VOTER ID NOW!
If the Politicians stop using it as their personal funding, we will have enough.
The government can print money to cover it, just like they do for all the unnecessary and immoral perpetual wars they fund.
I'm too young for any of this but hanging out with cows all day kinda makes you use up all the rest of TH-cam.
Haha, well I'm honored you chose to spend some time with us :)
I am on a fixed income. I will have to go to an advantage plan. With the price increases I can only afford the advantage plan now
The Elephant in the virtual room is costs over time in supplement plans. Very comprehensive video; thank you for such a balanced evaluation of options for supplements or Medicare Advantage plans! ❤
Excellent point! I think you'd like this video that covers that: th-cam.com/video/Yf_LRloXmSo/w-d-xo.html
Great video on Medicare Advantage vs. Supplement Plans. I am a Medicare Insurance Agent and Broker for Florida. I totally agree with your presentation, as it directly aligns with my explanations to my clients. I will share your video with my clients to further explain this important topic. Making the right decision before turning 65 will make a difference. Knowing the differences between Advantage and Supplement plans is vital, and it is a personal decision based on each person's health issues. Thanks for your video.😊
Thank you so much, Don!
Elephants rule! Thank you for this most informative video! Clear and concise!
Thank you so much for watching - to the end! :)
I loved your video. And I love elephants too! Thank you for taking time to produce a fair and non-biased video explaining pros and cons of the 2 different type plans.
Thank you so much! Appreciate you watching (to the end!) :)
Excellent 🦅 Balanced presentation! Extremely helpful. Must watch if you are planning to retire.
Thank you so much! 🦅
This is the second video I have seen on your channel. So grateful to have found a resource to help my husband and I navigate the complexities surrounding the decisions we need to make. They say you can lead a horse to water but can't make him drink. The average person is thirsty for reliable information and resources to help in the decision making. Thank you Erik for everything you are doing to educate us.
Thank you so much! This is so nice of you to say and makes us so happy that these videos are helpful! 🐎
I’m 86 and have never regretted buying a supplement. I had a few moments this past year by being bombarded with ads from Advantage policies and all the perks. It’s getting too expensive and I need dental and eye care however their amounts of help aren’t that high. I like being able to pick my own Doctor, especially if I know how good their competency is. I did the pros and cons when I had to decide which one I wanted. Just hope I can keep up with the cost since I am a low income senior.
@@donnahunt813 FYI: for glasses, I pay out of pocket for an eye exam and order glasses online from eyebuydirect. I’m very nearsighted and have astigmatism and bifocals and I’ve always happy with the glasses I get. I order the top quality lenses they have. With a coupon, I pay $150 for glasses that would cost me over $600 if I didn’t buy them online. I like picking out frames online, I always felt rushed in the store to pick one out.
Thanks for a well balanced presentation - need the memory of an elephant to keep all of it straight. Keep up the helpful work. Glad we can save the video to favorites and review again and again ...
Thank you so much for watching! 🐘
I have been an agent for close to 10 years and this is the most informative comparison I have seen. I watched it with my Dog Rip
Thank you so much Tom! Appreciate you watching! Rip too 🐕🙂
I watched every moment while my kitten sat with me.
Thank you (both) for watching :)
Thank you. I understood all the info you provided. We signed up for the Advantange plan. I hope this is a good plan for us. Mostly chose this plan because the price seems better for us. When retirement comes with less income, it seems best for us. We have 2 Sulcata tortoises.❤
How fun! 🐢🐢
Thank you for watching and sharing your situation. Your agent will be a big help moving forward for you. Advantage plans can work very well for people. We have a whole video dedicated to how to switch as well. Appreciate you!
This is the most comprehensive and easy to understand presentation I've ever seen. And I really like your rhino!
Thank you so much for saying this! Means a lot! 🦏🙂
Thank you for your in-depth, excellent information, at 63, Im almost there and am in the gathering stage. I love all elephants, even white ones.
A useful explanation for those of us who will be making decisions about Medicare soon. We asked our cat, but he had nothing helpful to say.
Thank you for watching! Cats are notoriously bad at Medicare 😺
Thank you for the information you are providing, just started looking into the Medicare programs, turning 64. 2024. Enjoyed reading the comments that are posted, those where helpful as well, but the one that caught my eye was, "the elephant in the room is how solvent is Medicare". I will be searching for more of your videos, Thank you.
Thank you so much for watching. So glad to hear it was helpful and I hope our other videos are equally as helpful 🙂🐘
I have had Kaiser for 30+ years before Medicare eligibility. Now I have Kaiser advantage. I have never been denied service that I needed!
Thabk you for sharing this!
Wish you luck with MA coverage. When you really are in need of medical help, you may wish you had original Medicare but it may be too late....
My mother had Kaiser Advantage for many years. They were excellent on coverage and all other aspects.
My neighbor has the original Kaiser plan and it sucks. If they say no. Medicare even if approved will not cover.
I’m guessing there are different flavors of Kaiser Advantage plans out there and would be interested in hearing about which one you have. Kaiser is pretty good, and they have a lot of top rated doctors apparently, though they still only give you the 10 minutes per patient that so many doctors offices have implemented. (You really have to be in charge of your own health these days.)
TH-cam algorithm showed me your video. Best explanation I have EVER seen (and no, I am not ‘blind as a bat!’) on this topic. So I have liked and subscribed. When I turned 65, I chose a Supplemental Plan G at the beginning as it did provide me with the peace of mind that are covered in the last three categories. I have also been one to try to persuade people away from Advantage plans because of some of the uncertainty you reference. However, rather than doing that going forward, I think I would be better to just share your video and channel with them. EXCELLENT! Thank You!
Thank you so much! Means a lot!! 🦇
I may not have an elephant memory anymore, but I truly enjoyed the video and you have gained a subscriber. Thank your for keeping me updated.
Thank you so much!! 🐘
My Medicare premium is $675 per month. My supplemental G plan is $138 per month. I think this is reasonable for the care I get.
Your coverage is the cats meow. Thank you
Thank you so much!! :)
As a physician caring for many senior patients who often ask questions about traditional MC v MC Advantage, I found your video very informative. Thank you. Dr. Cheetah
Thank you so much for taking the time to watch!
I sure wish I had a cat on my lap while watching. This was SOOOOO informative & helpful. Getting all the terminology & verbage has been beneficial. Thanks & keep up the good work for us.
So glad it was helpful! Appreciate you spending time with us! 😺
Thank you for a balanced view. I especially liked the ending comments on which folks tend to like based on experience and risk factors. Sort of like my couple head of cattle who favor ease of access.
Thank you so much!! 🐄🤠
🦕I am going on medicare in March and am very grateful for the info. Probably leaning toward the supplements.
Thank you for watching, and all the way to the end! Supplements are great! Use an agent to help you and if you're going on Medicare in March, I'd start that Part A and Part B process now if you haven't already :)
I love dogs! You couldn’t have done a better job. I like how you didn’t lean to either side because it is too easy for many many agents to focus on one option. Im a full time recruiter so I see this day in and day out. You absolutely nailed it. An agent that is sole focused on one side of Medicare is not an agent in my opinion. Their fiduciary responsibility is to educate their client to make an informed decision- and you did just that. We need more people like you out there! Great job on this presentation!!!!
Thank you so much for tuning in! 🙂🐶🐕
Info like a white elephant, fills the room with info. Clear and easy to understand. As a nurse , I am frequently asked about the differences. Thanks.
So glad it was helpful! Thank you for watching! 🙂🐘
Cats...Thank you! Very Informative! Turning 65 in 5 months....leaning Supplement Plan. Will subscribe and view other videos.
Appreciate you! Thanks for spending time with us! 😺
I love my pug...Muncha...she will stay by me when I ferl ill.Sometimes that improves an illness./You gave a good explanation.
Thank you so much! 🐶
This is the most informative and most unbiased video I've seen on this topic. Yes, it's long (32 minutes), but this topic warrants at least 30 minutes for all the nuances that exist in the MA vs Medsup comparison. There was nothing I saw/heard in your video that could have been omitted without diminishing the high-quality explanations. The agent commissions part regarding higher commissions with MA plans for agents in the first year could be expanded upon (and you probably do in another video) because there is some nuance to that sub-topic. Comparing commission's over a longer, ex. 5-year period, may show negligible differences between the two choices when you consider a supplement plan also probably includes commissions from a PDP, dental, vision, etc.
Overall, please keep producing. I've watched other videos from you and am so impressed with your thoroughness and objectivity. I'm an independent agent/broker and you are a wonderful resource! There's an elephant in the room.
Thank you so much Adam! This means a lot. Appreciate you watching and taking the time to comment.
We do cover commissions just a little bit more in this video starting at about 13:20
th-cam.com/video/5Tl0Ut1tTEs/w-d-xo.html
Thank you again!
Thanks for the elephant in the room for this risk averse senior. I love my plan F.
🐘🙂
This was excellent information. I was totally unaware of most of this. I am still working at age 70 and still using my employer’s pre-tax insurance, which is expensive but not nearly as expensive as an after-tax Medicare part B premium would be at my income level. It’s an HMO with a large young cohort. I am trying to get much of my retirement capital into Roth accounts so that my taxable income in retirement can be small. That’s one of the elephants in the room you haven’t talked about. I suppose that I am actually lucky enough to be a rich person, but I don’t really know what rich old potentially sick people do. I suppose I really do need an advisor such as yourself.
Thank you for watching! Happy to help in any way we can.
Here are Teo videos we do on Roth and traditional. Have another one coming out soon, specifically around SS and Roth. These are longer 🙂
Video 1:
th-cam.com/video/VHHNYdpVwrU/w-d-xo.htmlsi=aSvIAWsbrj4aVX-4
Follow up to video 1:
th-cam.com/video/-U_su7Ak7QE/w-d-xo.htmlsi=dIEqipSw64wAKGYQ
I have just signed up for Medicare and went with the advantage plan. My agent went through everything with me including the fact that I rarely go to doctors. He suggested that the advantage plan seemed to be the best fit for me. He also warned me that if I change my mind next year and want a supplement plan instead then it may have to go through underwriting before I am approved for it. If I had unlimited funds, I would have gone with a supplement but unfortunately when you go on social security, your income goes down not up. I did also take an extra cancer plan that would cover any out-of-pocket expenses for the current year that I use it. I think the agent I had did a great job explaining everything to me. He even read and explained every line of the plan I was signing up for before I signed anything. I think the best thing and most important thing you can do is to have a good agent to help you. Btw, I think your videos are the best I've ever seen! Here's the animal, I watched everything! 🦒
Sounds like your agent did a great job, which makes us so happy! Thank you for sharing your experience and watching (especially to the end) 🙂
Your video are very informative and unbiased..and I listened till the end.. than you. I am on advantage plan and I been doing my own research on plans, deductibles, out of pocket etc and my plan still the best for me.. I am just worried about news that doctors and facilities are signing out of adv plans,, hopefully not in my plan 🐕
@@user-jn8zw7pl6e appreciate you watching! Especially until the end 🙂
What about premiums for Supplement carriers? I thought these were in addition to the deductible for Medicare B? And Medicare A has a $1650 deductible?
@@kimdiedrich9712 correct. Premiums for supplement plan carriers are in addition to Medicare Part B premiums, and with a Plan G, you still have the Medicare Part B deductible ($240 in 2024). However, with a supplement plan G, you don't need to pay the Part A deductible. The supplement plan takes care of that.
Very good, informative video on this horribly complicated subject of deciding on a Medicare Plan. I have watched a few Medicare videos and really liked your unbiased explanations! Now, I can go back to my cat nap after all this thinking!
Thank you so much for watching Barb! So glad it was helpful, and I could use a nap as well :) 🐱
Excellent presentation, me and my cats love it 🥰
Thank you so much!! 😺😺
Great video! Clear and concise unbiased explanation. Thank you! Cute Rhino and Elephant : )
Thank you! 🐘🦏😊
In spite of constant interruptions from my parakeets, I learned a lot from your video - thanks!!
Hi Beth! Sounds like the parakeets are big Medicare nerds like me :)
Thank you for spending time with us!
Thank you as a 25 year Medicare professional you did a great honest presentation. 🐘🐘🐘
This means a lot! Thank you so much for taking the time to watch - to the end! ;)
Great information. My dog agrees too.
Thank you! (both) :)
I love cats! I am a SHIIP counselor. I find your videos very interesting and helpful. Personnally, I like a supplement but I'm much less biased against advantage plans after listening to your video. Lots of what you said I have used to help my clients choose a supplement or MA plan for themselves.
Thank you for the work you do! So glad to hear our videos are helpful!
Just turned 65. My broker tried to present all options and easy to understand. Very confusing. I appreciate your videos especially when I just watched one of those portraying this business as a DOG eat dog world. Having said that I hope my agent and I made the best choice. I really hate the whole thing. But thnx again for your unbiased presentation
Thank you so much for watching!
The analysis paralysis and all the marketing messaging creates quite the whirlwind. I'm glad your agent was able to help you! Given they presented all options, rely on them for future decisions. Sounds like they are doing a good job!
I like this video. You are good in explaining both plans. I just turned 65 and most agents want me to choose advantage but I know they are not sincere agents, they just want the commissions. Because I listened to your previous video before I trust your video than my agent. Therefore, I am choosing supplement G because of freedom and administration.
Thank you for watching! There are agents that will push Advantage for commissions. There are also agents who recommend then because they are a good fit, depending on the person and area. Sounds like the freedom and flexibility are most important to you and a supplement Plan G definitely gives you that freedom and flexibility around your healthcare decisions! Appreciate you!
I'm on a steep learning curve with insurance after retirement next month. I am a CURIOUS CAT! Thanks for making this video. This is the first video of yours that I've watched. I will watch more of your videos.
So glad you found us! 😺
You are definitely no snake oil salesman having provided well balanced arguments for both options. I'm planning the Supplement route (in 4 years) because I'm a recent cancer survivor, am very comfortable with my health care team and have the means to pay premiums.
Congratulations! So glad to hear you are a survivor! Thank you for tuning in!
I have an Advantage plan, specifically designed for my previous employer, Texas Retirement System for Teachers. It has NO donut hole & I use very expensive meds. My husband is not eligible for my plan, so currently has an Advantage Plan with 0 premium, but a medium size deductible on his drug plan, plus he pays Medicare B premium. He is 82, so the cost of a Supplement plan is quite high. Your video was the most informative I have seen or read about. The comparison between Advantage & Supplement was great & answered a lot of my questions.
Medicare, in general, can be the elephant in the room, when you are with a large group of seniors.
Thank you for the great video!
Thank you so much for watching and sharing the arrangement you have currently. Appreciate you! 🐘
Over here in Puerto Rico 🇵🇷, I'm in good health, but the advantage plan, tries forcing you to visit a network doctor, I tell them I'm in good health, I'll go to a doctor, when I'm feeling sick etc
I love cats, and I love dogs too - they're different just like these plans. Thanks for the explanations
Thank you so much for watching! 🐶😺
Thank you for your excellent explanation of the two concepts - even my one-eyed, mostly blind dog could have followed the discussion LOL!
Third year on Medicare... I subscribed on the second video. Your detailed information and objective analysis are second to none. It's great to see a young person take such an interest in helping older folks as I have no doubt you could be successful doing about anything you chose to do. And somehow you've found a way to address all the questions I have very specifically. Keep up the great work!
This makes us so happy! Thank you for watching, subscribing, and sharing such a kind comment! Appreciate you, Kent!
Nice video with the right balance. I have been on a HMO almost all of my entire work life about 40 years+ when they first came in. As we get older 50 plus most have had the experience of hospital stays or needing referrals. The providers seem very easily reach my maximum out of pockets in those years and sometimes into the following year. Coming up with thousands of dollars really hurts. Now I do like your explanation advantage plans are not exactly the same. It’s like politics the elephant and the donkey! :) Well I will make this short. Nice Video. The only thing I wish you weighed (crown) in your video is how important to make a good choice when you first get to choose because if you have or develop later health issues, you may not be able to switch plans. Good old underwriting.
Thank you so much Gary!
We quickly referenced our other video on that. Here is that video: th-cam.com/video/djuGeI829M4/w-d-xo.html
Hope that helps. Appreciate you!
I love animals. Especially dogs!! Great video. Great explanation!
Thank you so much! 🐕🐶
Thanks for your videos. As a fellow insurance agent in Phoenix, Arizona, I have a dog in this race. Your content is spot on. These are the conversations and examples I share with my prospects and clients when considering Medicare plans. I subscribed and will keep watching!
Ken L - Benefits Arizona
Thank you for watching and your kind words! Means a lot!
As an old "dog" I am concerned about moving from my supplement to an advantage and then being able to move back if I don't like the advantage, but I am not independently wealthy so the idea of saving money sounds very practical and reasonable.
Hi Paul! Thank you for watching! 🐕
Here is our video on switching if you want more details on what that all looks like:
th-cam.com/video/djuGeI829M4/w-d-xo.html
I love the wise elephant.
I always enjoy your videos and find them both informative and fair. My wife and I are currently on an Advantage Plan (I'm 75 and she's 73) but, in 2024, we will be staying away from our home for an extended period (about 4 months) for the first time. I was surprised to hear that switching Advantage Plans from our home to our temporary location and then back again was an option. I appreciate finding that out and will discuss with my agent. Thanks...Oh and I prefer the elephant.
Thank you so much!!
@@Theretirementnerds Does switching Advantage plans like ClarkPrice mentioned above work outside the continental US (like a US territory like Guam for part of the year, then back to Maryland for the rest of the year)?
@napoleonmdusa8877 moving outside the coverage area qualifies you for a special election period. So basically, you move to Guam, cancel the Advantage plan. Move back, pick one up in Maryland.
I have many health issues so Supplement plan G is the only way for me.
I think I'm a rino that needs to rewatch your video. I was tired and fell asleep lol😅 so I'll just watch it again tomorrow. Thank you for all that you do yo explain this mess of insurance
Medicare videos are a great way to fall asleep 😴 🙂
Thank you for this very educational video😺
Thank you for watching!
Great video. For folks like me who are trying to get educated about Medicare choices we will be making in the near future, you help to FERRET out the key pros and cons of both Advantage and Supplement plans. Many thanks!
Thank you! Clever comment 😏
Love the FERRET in your comment.
Lions. I appreciate this video. It clearly defines differences. I had a good agent who suggested a supplement plan for me when I was in transition to Medicare because I was in the middle of tests for breast cancer. She saved me a ton of specialist visit copays, hospital/surgery and however radiation would have been billed by an advantage plan. And I was saved alot of worrying about how much it would have cost during treatment.
Thank you for watching and sharing your experience! 🦁
I am thinking advantage plan is for me. Working for companies my whole life, I am familiar with managed care. I've had HMO and PPO, and they (especially PPO) worked for me so far. I can't see my future, but I live a healthy lifestyle so far and hopefully won't need to use the healthcare system too much. I don't like to prepay the expenses for things that may or may not happen, so I don't think the supplement plans are for me, but I can see that it makes sense to many seniors to take advantage of the supplement plans as they retire. Your little pet elephant is super cute. Thanks for the video!
Thank you so much for watching 🐘
And sharing your thought process!
I've been a Medicare Broker for several years, and I love everything about this video, masterfully explained, easy to understand...awesome. And my cat also enjoyed it (that's a lie, he was pestering me the entire time, but hey, he's a cat, lol).
This is very kind of you. Thank you so much for watching and saying this! Cats never plan for the future 🤦♂️
Best job I've ever heard of explaining the pros and cons of Supplemental vs. MA Plans! Thanks! Oh yeah, almost forgot!You need to add a kitty to your video.
Thank you so much!!
I'm allergic to cats 😔
I am new to Medicare, and this video has been very helpful😼
So glad it is helpful! Thank you for watching! 😺
Thank you so much for explaining this. My dog, Eli, thanks you also.
Appreciate you both for hanging in there til the end 🙂🐶
I'm still a few years out from medicare and I am so glad to have found your channel for some Pre- schooling on my options. My 4 dogs and 7 cats slept through the whole thing though. All of my babies are on the couch warm and snuggling and snoring together. 😴 Thankyou for the concise info.
Thank you so much for watching!! Quite the crew of furry friends you have!
I really like your video and feel it’s the unbiased one I have watched. My dog sits with me as I watch videos. My husband has had 2 outpatient procedures this year along with a 5 day hospital stay. I don’t love his premiums on the supplemental plan but have been grateful for the coverage he has had. I find it peace of mind having the supplemental plan. I do have an agent I trust but always feel the need to understand Medicare coverage. Thank you for your help.
Thank you so much Susan! Appreciate you watching and adding your thoughts! I hope you and your husband are doing okay after the hospital experiences this past year.
I love Laborador Retrievers! Thank you for this terrific, well explained video! Two questions: how are we sending billions of dollars in aid to various countries around the world, yet still charging our own senior citizens for basic healthcare coverage? Second question: why are dental, vision, and prescription drug costs not included in basic Medicare coverage? Who decides what is covered? Keep up the great work!
Thank you for watching! 🐕
I can't really answer the 1st question. Wish I could.
Second question is the Federal government through the department of Health and Human Services. Under them is the Centers for Medicare and Medicaid Services (CMS). Those are the entities in charge.
@@Theretirementnerds Thank you for taking the time to respond. Keep up the great work!
@@jcnlaw we will do our best! Always appreciate feedback! 😊
An ELEPHANT sized portion of info stated in a succinct way. Thanks for the clear presentation. While I like one plan more for myself than the other, I like how you presented the negatives with data to help us all to be realistic. Thank~you!
Thank you so much for watching (to the end)!
Your videos are a different ANIMAL! They are amazingly comprehensive and your sincerity and transparency show through. I picked plan g but a girlfriend is strapped financially. She dies have diabetes but I think she could do advantage but set aside $125 mo she would save for out of pocket expenses to build up an emergency fund for out of pocket health expenses and other needs. I send her this video.
Thank you so much for watching! So glad it was helpful :)
Diabetes is tough. If she's struggling financially, we understand, but diabetes and supplements are a strong combination.
Appreciate you!!
I think your request to mention the elephant and the Rhinoceros you showed you showed us was genius! Bravo!
Thank you so much! 🐘🦏🙂
I love elephants! Thank you - very informative and educational.
Thank you for tuning in! 🐘
Spent most of last year with my husband deciding and ultimately went with a plan G. Now I am starting to look and am seriously looking at Advantage. My parents are 90 and have nothing but great things to say about. I love my 🐕
Where you live will matter. Some areas have advantage plans that are very hard to ignore. Thank you so much for watching!! And I'm a huge dog lover :)
I really appreciate these videos, the content and straight forward comparisons you provide. You help us understand the elephant that is Medicare, one bite at a time! We've had Medicare with a Supplement so far, and based on what I learned from your video, I think that is where we will stay.
Thank you so much! Your comment means a lot! And we're very happy that you are in an arrangement that is working well for you. Great use of the 🐘 :)
I think it's rare to have Medicare situations involving pediatric doctors. People above 65 (42 in elephant years) are more likely to need a geriatrician than a pediatrician 😀.
You made a good point about Medicare Advantage being similar to health insurance from work, which is what most people have for most of their lives, so they are used to deal with networks, HMO, PPO, PPO Plus, PPO Choice, etc. What does change is that their need for health care is usually higher after 65 than before.
All excellent points! Correct on all fronts. And the elephant years calculation is impressive 👏
I love my mini poodle! Thank you so much for your clear visuals and simple explanations. Your unbiased facts in both advantage vs suppplement help me decide what’s best for my partner. Please continue to doing what you do. Thank you.
Thank you so much! We plan on keeping it up. Appreciate your support!
Thank u for the clear information. Some might say the elephant in the room is the pressure that various Advantage companies put on retirees with constant sales calls trying to convince them to change to a different provider. I have clients getting numerous calls a day. I work at a mental health center and one client thought she “had” to listen to at least one sales pitch a day minimum. It’s sad. Anyway thank you for the information. I researched on my own and had some theories but your information seems balanced and factual and verified I was on target with many of my thoughts.
Thank you for watching and adding your insights! 🐘🙂
My cat Charlie and I started watching your videos 1/6/2024 and we are hooked! TY for your content
Thank you so much! So glad it is helpful for both of you 🙂😺