For those of you who don't want to bother looking up the video, let me sum it up for you. This doctor who knows NOTHING about insurance claims that Medicare supplements are a scam. He also gives some incorrect information about what they cover as well. Think twice before listening to someone who is way out in left field. Usually the truth lies somewhere in the middle.
Here's the truth short and sweet:
Medicare is health insurance, and additional insurance is not a requirement
If you want to self insure, then make sure you know exactly what you will be on the hook for in most cases, and in the worst-case scenario.
Medicare supplements pay some or all, depending on plan letter, of what Medicare does not pay. They do only pay in cases where Medicare covers or pays.
No drug coverage is included in Medicare Part A, Part B, or supplements. You will need to purchase a separate Part D plan.
In most cases, you will be able to afford generic medications without a Part D drug plan. I do see a lot of clients with medications such as insulin for diabetes that are NOT affordable!
There is no cap on the 20% that Medicare Part B does not cover. You will be responsible for the 20% of any surgery of the Medicare approved charges
Do your homework and research and ask questions. Do not listen to people who do not know what they are talking about.
I hope this helps, and if you have any questions, please feel free to ask.
thanks,
I disagree, unless you have serious health issues and his argument basically makes sense ...with the exception that he uses a $400 premium figure for the top tier plan, when it's *only* :dodgy: $200 or so. Having said that, I do think it's prudent to utilize a low cost *high deductible* plan. People simply don't realize that they will *PREPAY* $200 every month for plan F whether they use it or not. What you really want is a CAP on what you're exposed to yearly and then set aside the $ for that CAP which is around $2-5K with plans K and L and plan F-HD.
