I don’t talk about our finances very often; that seems to make people uncomfortable. If that describes you, please stop reading and move on to the next blog. Don’t worry, I’m not asking for money. Just reporting on our situation.
I went on disability so I wouldn’t be so stressed trying to work full-time while doing all the treatment, scans, doctor’s visits, etc. I’m pretty sure I blogged about this decision already; if you want to know more, you can go back and look for the whole disability conversation. Or, let me know and I will fill in the details.
Anyway. Here’s how it works. You have to be on disability five months before SSDI will kick in. After that, you must wait another 24 months before you can get on Medicare. I was fortunate enough to have a good job, so my health insurance (COBRA) has been hanging on in the interim. Tim has always been on my insurance, as he has been unable to get group coverage on any of his jobs.
Since leaving my employment, COBRA has gotten quite expensive to the tune of $2,500 per month (yes, you read that right), especially after they extended us past the original COBRA period. It’s a lot better than paying more than $30K per treatment. Yikes! Needless to say, we were looking forward to getting on Medicare. (Now we just have to find insurance for Tim.)
Finally, after waiting 30 months, (Woo hoo??) I got my card in the mail a couple of weeks ago, it’s official. I will be on Medicare starting in July.
For some reason, we thought this would be the “answer” to our insurance dilemmas. It’s all very confusing, however. I have not taken any action as I have been waiting for more information. Then we saw an ad for a Medicare specialist in the Impact, a freebie magazine with updates about our local area. He’s been doing this for a long time, so we scheduled a meeting.
The first thing he helped us understand is that Medicare does cost money. First of all, you have premiums to pay (based on your income). He also said that people typically purchase a supp[lement because even with the government plans there are many costs that are not covered. If you purchase “medigap” supplements, it helps fill in the gap.
Bad new. He said my options were limited until I reach 65. He said I could not get medigap supplements to cover all the additional costs. He seemed knowledgeable, and based on the information he shared, we got a bit discouraged. It looked like we were going to be out a LOT of money to pay for my healthcare costs.
I paused after starting this blog, and prayed. God, please help us discern your will. Help me understand all the ins and outs of Medicare, and help me find someone who can give me some good news.
The next thing I did was reach out to Medicare directly. It’s a government entity, so I was expecting long wait times with little support. As it turned out, my wait time was reasonable and the lady I spoke with spent nearly an hour helping me understand all our options. She didn’t seem to be in a hurry, and she provided me with some other numbers to call as well. As it turns out, we have lots more options than the other guy shared. Yes, I do qualify for Medigap insurance, and there is a number I can call to help me figure out the best plan and insurance company for me.
Here’s the interesting part. Insurance companies are not required to provide Medicare supplements to persons under 65. But some of them choose to do so. Maybe the companies the other guy sells for don’t do it, so that’s why he thought I couldn’t get it. I don’t know. But the Medicare lady gave me a list of possible providers. We just have to make sure my doctors are on all the plans.
Here’s another interesting part. The supplement you choose (for example, Medigap Part G) is the exact same coverage with each insurance company. You might pay $300 with one and over $1,000 with another. But you don’t get anything different from the more expensive company. No wonder people get discouraged! Apparently insurance companies are not limited to charging the same amount as the next guy.
So, it’s time to go shopping.
I’m still trying to matriculate through this Medicare maze, understand what they cover and what they don’t, and how to keep from going bankrupt in the process. I will spend more time on it next week. Some things can’t happen until at least June, so there’s still time to make decisions. But at least now I feel a bit more hopeful than when I first started writing this blog. Thanks to the Lord for answering my prayer.