Health insurance

[Davey Crockett]

We had BCBS federal plan and they paid really well up until we got old enough for medicare, then things went south because when the bill comes medicare pays first and insurance pays second. (For you young guys, be aware of that.)

FF to last year, when I read the upcoming changes to our old policy I started shopping because prices were going up and coverage was going down so we went with nextblue. The premium was $345 a month less with better prescription coverage and a higher deductible so it made sense.

I don't know what to expect for sure on hospital stay, if medicare pays much or not but my maximum out of pocket is supposed to be $ 4500 . I'll know soon enough because I wiped out on the ice and spent 5 days in the hospital with fractured ribs. The paperwork hasn't been processed yet. I expect I'll pay the Maximum out-of-pocket $ 4500/year. Almost a wash since we save $ 4140/year in premiums.

 

[Fester]

Insurance can be a balancing act. Lower premoums and you should be putting money away for the higher out of pocket expenses. Higher premiums will equal less out of pocket expenses when shit hits the fan...atleast how its supposed to work. It all depends what a person wants. Alot of people see low premiums and dont realize that if something happens they will be paying a chunk out of pocket. I wish the feds would allow people to invest in a medical savings account pre-tax with roll over at a younger age to bridge the premium gap with insurance at an older age....i am sure the politicians would figure a way to screw it up though.

 

[Sluggo]

@Davey Crockett you said “when the bill comes medicare pays first and insurance pays second.”
Is that a bad thing?

 

[Davey Crockett]

Insurance pays first if you are still working at 65 or older but if your retired then medicare pays first. It can work for or against , depending on the insurance company. It worked against us, I can't remember the exact details without refreshing my memory but it did. This stuff is overly complicated .