A question for our senior citizens

[Rich]

Come January 1st,2009 there are big changes in store for General Motors salaried retirees.
Those of us 65 and older who are on Medicare, will lose all of our company paid benefits.
This includes health care, dental care, vision, prescriptions and extended care as well.
Many of us our researching our options but it can be overwhelming with the dozens of choices out there.
To those currently on supplemental insurances, do you have any suggestions ?
We have already talked to Wal-Mart, Target, Krogers, Costco and Meijers about there prescriptions. Unfortunately some of ours have no generics and are not available at any of these locations.
Any input would be appreciated.
Rich
PS: This is also why I havn't been around much for a while, it has kept us very busy along with a number of other problems.

 

[dick0236]

Rich, I have been on Medicare + Medicare Supplement for over 7 years (my wife over 5). I also sold and serviced group health insurance for 25 years. Currently, we have medical and Rx coverage through an Anthem MEDICARE ADVANTAGE plan. The plan offers us the flexibility we want in our use of doctors or hospitals. We use the drug (Rx) coverage for any drugs that can't be purchased thru the Walmart, Kroger etc. $4 programs. It even pays for our membership to a "fitness center". Best of all, there currently is no premium cost. However, we do have co-pays for doctor or hospital services, but our "out-of-pocket" cost has been nominol since we enrolled in the program 20 months ago. There are several insurance companies that offer MEDICARE ADVANTAGE plans throughout the country. They don't fit everbody, but they are well worth investigating.

Dental coverage is generally not included under medicare except in limited circumstances. I purchase a pretty good dental plan thru BC Delta Dental for my wife and me for about $54/mo. This plan also provides basic vision coverage (exams) and discounts on lens and frames.

 

[tobagotwo]

This drives me crazy. You work for years at a company that promises you retirement benefits if you work there to retirement. Then, after a few years, they just take them away. How can they do that? Isn't the promise you had from them for all those years a contract? If they went out of business, the loss of benefits would be understandable, although the pension fund should be already funded. But GM is the largest or second largest automaker in the world, and they're nowhere near broke.

This is not right.

 

[Superbob]

Rich,

I agree with Bob H that this is just not right. I am fortunate that we still have retiree coverage to supplement Medicare from the corporation for which I worked for 35 years, but I am aware that some companies are backing out of these commitments.

Do you belong to AARP? We do and are constantly receiving information touting their Medicare supplemental health insurance and other benefits. I haven't looked at them closely but it might be one option for you to consider.

I wish you well in your search for a new plan.

 

[ALCapshaw2]

My Dentist (and another I know) both tell their "elderly" patients that if their teeth are 'stable', it is better to "Self Insure" because most Dental Insurance Policies cost more than they are worth.

I haven't asked my Opthalmologist about this issue but I would not be surprised if the answer was the same.

The Generic Drug Plans sound like a Godsend.
The non-Generic Drugs are a real Eye Opener and Breath Taker!

Tell us what you learn. I'm sure there will be LOTS of interested readers!

 

[Bonzo Dog]

Dual reaction from me Rich; what an awful stress for you and thank god for the NHS.

 

[Duff Man]

Rich, I was on Cozaar (losartaan potassium) for quite a while, and that was a very expensive drug with no generic equivalent. However, the doctors office always seemed to have massive amounts of samples for me if I ever ran in to a bind. I'm talking they would hand out two or three months worth. The bind was never because of a lack of insurance though. This is also true for albuterol inhalers. The pulmonary doc's office always seems to have tons of those samples and they're very loose with them. If push comes to shove, I'd be asking for samples. You don't even need to set up an appointment.

In anticipation of my loss of GM benefits (for a totally different reason), I made a switch early on to a generic drug that I've had success with in the past, Enalapril. As far as I can tell there are no appreciable side effects or difference of efficacy with either drug, even though they're also in different classes. ARB vs ACE inhibitor...

Just my thoughts. I don't know anything about insurance, but I do know generics and samples are free or next to free. Good luck my friend.

 

[Ross]

Rich go to Medicares website and check into Medicare advantage HMO's in your area. It's the only way to go to significantly cut costs. Traditional Medicare will kill you financially. With the advantage plans, you likely won't need a supplemental policy and most cover prescription drugs up to a certain yearly limit.

http://www.medicare.gov/MPPF/Includ...COUNTY&ExternalSourceID=&MPPF_PDP_Integrate=N

 

[Phyllis]

Rich, the site Ross gave you is excellent for figuring it all out. I spent about two months last winter determing the best plan for myself. I went with a regular medicare supplement rather than an HMO as we spend 1/2 our year in CT and half in FL. I got mine through AARP and it costs $179/month and covers me if I travel abroad as well. That was so much better than the over $600/mo plan and $5,000 deductible that I had! I also took a prescription plan from AdvantraRx which costs me 29/mo and thank goodness I took that as the Arimidex I will soon be starting for the breast cancer is over 300/mo. With medicare and the supplement, everything has been covered completely during my surgery and radiation. I turned 65 just in the knick of time!

 

[Duff Man]

what about 25 year olds?

 

[Ross]

what about 25 year olds?

Become disabled and you too can figure it all out.

 

[Duff Man]

25 lb restriction isn't enough.

 

[skeptic49]

I got mine through AARP and it costs $179/month and covers me if I travel abroad as well.

Good info, Phillis...this is a good thread with lots of valuable info. My significant other turns 65 in January and we will need to make a number of decisions between now and then on medical coverage. We also have a split residence but the distance is relatively close, so we could opt for the HMO route, but we do enjoy travel, so we'll have to look at everything and try to figure out the best plan for him.

Jim

 

[hensylee]

Come January 1st,2009 there are big changes in store for General Motors salaried retirees.
Those of us 65 and older who are on Medicare, will lose all of our company paid benefits.
This includes health care, dental care, vision, prescriptions and extended care as well.
Many of us our researching our options but it can be overwhelming with the dozens of choices out there.
To those currently on supplemental insurances, do you have any suggestions ?
We have already talked to Wal-Mart, Target, Krogers, Costco and Meijers about there prescriptions. Unfortunately some of ours have no generics and are not available at any of these locations.
Any input would be appreciated.
Rich
PS: This is also why I havn't been around much for a while, it has kept us very busy along with a number of other problems.

close friend worked in insurance when I became eligible. She researched for me and found the best/cheapest supplemental health carrier. I have been with them since I started 13 yrs ago at 62. I have had not even one problem with them and occasionally I research and still find them the cheapest. Continental Insurance Co. Look into them.

Supplemental medicines (Medicare Part D). I joined a year late so had to pay a penalty. I am sorry I joined. I pay totally more to the insurance company via social security check, deductible, and what I pay than I ever did pay for prescriptions alone.

Do be aware of the formula they use and this is what my latest monthly statement from them says (I have Humana but they are all the same, basically):

price of drug (highest price)
what your medicare part d pays
what you pay

these are ALL added and count towards the total of drugs purchased. Can't see how they can count the highest price as part of the total, since they don't pay it.

here's a recap of mine to date:

what you paid $545.22
what plan paid $810.55
Plan discounts $557.12
Average retail price $1912.89

You are here. You'll move to stage 3 when total prescription costs reach $2510.00. To date your total costs are $1355.77, leaving $1154.23 more in costs in this stage. When your total costs reach $2510 you will pay 100% of prescription costs.


Rich, my deductible is $275, at least for 2008 and I expect it will go up in 2009. I am seriously thinking of dropping the whole thing because they did not present it well to us and the insurance companies have old people over a barrel. Some believe they are getting a deal and maybe some are - I am not. Prices for all health care and medicines are predicted to take a hike north (again) in 2009.

I am just disgusted with the whole thing.

Good luck..........

 

[Ross]

Ann you can't win with traditional medicare. It'll eat you alive unless you have a 6 figure income.

 

[hensylee]

I know, Ross, but it's what is available to me. Our town is small and we'd haave to travel right far to benefit from anything else. I just want services close to home - I don't drive out of town anymore. Barely drive in town.

 

[Rich]

First thanks to all for your responses, alot of good information.
I did go to the Medicare site last week.
I printed out the list of supplements available to us in Michigan.
On average there are 9 companies per page and it came out to 23 pages of them !!
Yes GM really did p**s me off. The worst thing about it is my wife was tossed out like yesterday's trash since she is not retired from them.
She takes some medication for her heart that is not available at Wal-Mart, etc.
For instance she takes Verapamil, but it is a daily dosage of 300mg.
She also is on a fairly new drug called Tekturna. They are doing a good job on her, but they won't be cheap.
Ann I'm sorry to hear you are having problems and thank you for the info.
Dick I might send you a PM for more info if you don't mind.
Bob they made us sign an agreement many years ago that basically said after that they had the right to do as they pleased. It was either sign it or look for a new job.
The part that really upsets me though is about my dear wife of 48 years.
Many, many times I went the extra mile for this company and have a lot of rewards to prove it (no there was no cash involved).
With a wife, three kids and a house to look after, the only way I could do those things for GM was because of her. She would take over everything including maintenence on our house so I could spend all those extra hours getting the job done.
Rich

 

[Ross]

Rich are you interested in Medicare HMO's or PPO's at all?

 

[Phyllis]

First thanks to all for your responses, alot of good information.
I did go to the Medicare site last week.
I printed out the list of supplements available to us in Michigan.
On average there are 9 companies per page and it came out to 23 pages of them !!
Yes GM really did p**s me off. The worst thing about it is my wife was tossed out like yesterday's trash since she is not retired from them.
She takes some medication for her heart that is not available at Wal-Mart, etc.
For instance she takes Verapamil, but it is a daily dosage of 300mg.
She also is on a fairly new drug called Tekturna. They are doing a good job on her, but they won't be cheap.
Ann I'm sorry to hear you are having problems and thank you for the info.
Dick I might send you a PM for more info if you don't mind.
Bob they made us sign an agreement many years ago that basically said after that they had the right to do as they pleased. It was either sign it or look for a new job.
The part that really upsets me though is about my dear wife of 48 years.
Many, many times I went the extra mile for this company and have a lot of rewards to prove it (no there was no cash involved).
With a wife, three kids and a house to look after, the only way I could do those things for GM was because of her. She would take over everything including maintenence on our house so I could spend all those extra hours getting the job done.
Rich

Rich, I feel your pain. When Dick's American Bar Association insurance stopped because he turne 65, I had to find other insurance for myself and I was 55 at the time. Because I had a history of fibroids which were benign, I had a terrible time trying to get insurance and ended up only being able to get Golden Rule which over the years raised my premium to the over 600/month and 5,000 deductible that I was paying just before I became eligible for medicare. By the way, the fibroids never caused a problem and never incurred medical expense! I hope in your research that you come up with a plan that is a good fit for both of you.

 

[Rich]

Ross at this time I really don't know.
GM has brought in an outfit called Extend Health to help us pick and choose.
It is the same company that Ford and Chrysler used when they dumped their retirees a few years back. We are attending a meeting with them this coming Monday.

Ross as a side note is the site running slow ?
When it can't keep up with a two finger typist like me something doesn't seem right.

Phyliss my wife has a number of problems. She has heart disease and has had a heart attack about six years ago. She has a bad case of psoriasis and cholesterol problems as well. We have to be cautious because this time around they have to accept us regardless of pre-existing conditions, but if a year from now we decided to change providers it would be a whole different story.

Rich