Lot's of good updated info here, thank you! Question: are you aware of any Part D stand alone plans that would allow enrollment to a member that has residency outside of the US, primarily to avoid a premium penalty later if returning to live in the US after a long interim abroad (in retirement). Do you have a video that addresses Expat Medicare issues?
Hi there - Medicare does not cover out of the US. Your Medigap policy might cover some travel benefits, but you will not have a Part D that offers coverage outside of the US. You can watch this video to learn more - czcams.com/video/-ERh4vHZnSw/video.html&lc=UgwQ8QhQqIdq1S7MTPF4AaABAg
Another great video, thanks! At about 9:40 you mention increases in "Supplemental Part D premiums". What exactly are those, as opposed to "Base" Part D premiums? Thanks.
HI there - here is a breakdown from Medicare.gov "Of the total cost of the drug, the manufacturer pays 70% to discount the price for you. Then your plan pays 5% of the cost. Together, the manufacturer and plan cover 75% of the cost. You pay 25% of the cost of the drug."
@@BoomerBenefits I’ve been through that page 10 times already lol. Whoever wrote it didn’t do a great job… 😂 Here’s my issue: How can the manufacturer “pay” for its own discount? It doesn’t make any sense. Drug manufacturers are SELLERS, and sellers don’t pay $, they receive $. If I put my car up for sale asking $10,000 and mark it down to $3000 for the buyer, I’m not “paying” $7000 to myself for a 70% discount. A discount is a discount, not a payment to yourself. It’s idiotic language designed to make Pharma look good. Giving a discount on an INSANE markup isn’t “paying” for anything.
If one has advantage no monthly payment for medicine. I am signed up with original g and $80 a month for meds and $125 a month for coverage. About $2,000 a year. If I change to advantage no cost. Max $3400 out of pocket with advantage and with original $240 max out of pocket. So stressful making decision. I have until Feb 29 to make a change or stick with original.
What is until you reach "The Gap"?? What the H is the Gap and why do they have it..?? - - Why can't they just do this like some of the coverages in a regular insurance we might get through our place of employment...??? There are 20+ things we have to choose from... Why..? My husband and I have worked since forever (the beginning).. I just don't get it.... It should not happen to us. Why does our effing government to this to us..
Lot's of good updated info here, thank you! Question: are you aware of any Part D stand alone plans that would allow enrollment to a member that has residency outside of the US, primarily to avoid a premium penalty later if returning to live in the US after a long interim abroad (in retirement). Do you have a video that addresses Expat Medicare issues?
Hi there - Medicare does not cover out of the US. Your Medigap policy might cover some travel benefits, but you will not have a Part D that offers coverage outside of the US. You can watch this video to learn more - czcams.com/video/-ERh4vHZnSw/video.html&lc=UgwQ8QhQqIdq1S7MTPF4AaABAg
Great information. Thanks for sharing
Government needs even more simplicity
You bet! Thanks for watching :)
I have always come to the realization that when something is over complicated. Its for their benefit not yours.
We understand! Give us a call if we can help with your questions.
I'm still confused, so I'll have to re-run this a few times.
Hi there - let us know if you have any specific questions we can help with!
You still won't "get it" even when you watch it 20 times.. There is always something that is left out. 🤒
Another great video, thanks! At about 9:40 you mention increases in "Supplemental Part D premiums". What exactly are those, as opposed to "Base" Part D premiums? Thanks.
HI there - that is just another term for a Part D plan :)
Great video! How do manufacturer discounts factor in to the coverage gap?
HI there - here is a breakdown from Medicare.gov "Of the total cost of the drug, the manufacturer pays 70% to discount the price for you. Then your plan pays 5% of the cost. Together, the manufacturer and plan cover 75% of the cost. You pay 25% of the cost of the drug."
@@BoomerBenefits I’ve been through that page 10 times already lol. Whoever wrote it didn’t do a great job… 😂 Here’s my issue:
How can the manufacturer “pay” for its own discount? It doesn’t make any sense. Drug manufacturers are SELLERS, and sellers don’t pay $, they receive $.
If I put my car up for sale asking $10,000 and mark it down to $3000 for the buyer, I’m not “paying” $7000 to myself for a 70% discount. A discount is a discount, not a payment to yourself.
It’s idiotic language designed to make Pharma look good. Giving a discount on an INSANE markup isn’t “paying” for anything.
If one has advantage no monthly payment for medicine. I am signed up with original g and $80 a month for meds and $125 a month for coverage. About $2,000 a year. If I change to advantage no cost. Max $3400 out of pocket with advantage and with original $240 max out of pocket. So stressful making decision. I have until Feb 29 to make a change or stick with original.
Yes, it is a big decision! are you working with a Boomer Benefits agent to help you?
@@BoomerBenefits I am as of now signed up with AARP UHC original G. Going to give it a try. 👍
happy to hear!
Read that book and gave it to my brother to read excellent book
So glad you enjoyed it!
Great 2024 recap!
Thanks Glad!
Thanks Danielle!
thanks for watching!
Thank You.
You're welcome
What is until you reach "The Gap"?? What the H is the Gap and why do they have it..?? -
- Why can't they just do this like some of the coverages in a regular insurance we might get through our place of employment...??? There are 20+ things we have to choose from... Why..? My husband and I have worked since forever (the beginning).. I just don't get it.... It should not happen to us. Why does our effing government to this to us..
We understand the frustration! Next year, we will see lots of changes and this should help with the cost.