Hi, I’m Bob D., a not-too-much over age 65 local railroad retiree. I was paying $145 per month for my medical insurance and another $50 per month for pharmacy benefits. Also, I paid a variety of out-of-pocket charges which were unlimited under my insurance plan. I wanted to know if there was a better deal for me out there, so I did quite a bit of homework collecting materials from different insurance companies, asking lots of questions, and learning about Medicare. It was difficult to make sense of it all on my own. I asked for some help. We met to review my health insurance options together.
We found a Medicare Advantage plan that included my doctor in its network (I did not want to change) and offered both medical and pharmacy coverage for $42 per month. The new health plan had better inpatient and outpatient coverage than the old plan, a similar annual deductible, and it limited my annual out-of-pocket payments to several thousand dollars unlike the old plan.
Since I take quite a few medications each month to manage several chronic conditions we had to be particularly careful in selecting drug coverage. The new plan had pharmacy coverage similar to the old one for most of my medications, and no deductible for its second tier drugs, which saved me even more money.
Overall
A Follow-up
About a year after I switched to my Medicare Advantage plan, I really tested it. I was hospitalized for one week. Just my hospital bill came to around $30,000. I paid $300. I think I got a terrific deal, and I am feeling fine.
Mary saved more than 100 times what she paid for her SHD workshop.
Mary attended a workshop to prepare for enrolling in Medicare for the first time, leaving group coverage that cost $575 per month. She selected a Medicare plan that meets her needs, has low expected out-of-pocket costs, and saves her $5,520 in premiums alone.
Darlene saved more than 16 times what she paid for SHD assistance.
Darlene is a young retired professional who came to SHD for help with Medicare. She has Parkinson's Disease and takes a cocktail of medications to manage her symptoms. Others would review her Medicare alternatives based on her current condition. We did that and also considered likely changes to her health over the coverage year. Our team examined next-step treatments and other medical conditions that often accompany Parkinson's. These extra considerations gave Darlene more complete information about her options. Darlene selected a plan with low expected costs that will save her $2,400 per year in premiums. In addition, SHD offered suggestions about her medications that could save her hundreds of dollars more.
Mark saved 6 times more than the cost of SHD services.
Mark was moving to the Seattle area to be closer to his family. Because he has a medical condition requiring regular monitoring, he was extremely concerned he experience smooth insurer and provider transitions. Like most seniors, he took more than 5 prescription medications. Well intentioned family and friends recommended he enroll with Medicare plans that cost significantly more than he was currently spending. With SHD assistance, Mark was thrilled to switch to one of the nation's highest quality ranking health plans and will save over $50 per month.
Rob saved more than 5 times what he spent for SHD assistance.
Rob is a long-time Medicare enrollee on a limited income. He has several chronic conditions and history of a heart attack. He takes multiple medications. Rob was enrolled in the highest premium plan and was in the drug coverage gap for the last five months of the year. His monthly outlays for premium and drugs were over $700. He chose to switch to a less expensive plan saving over $3,000 per year in premiums with fewer expected out-of-pocket expenses. With SHD advice on managing his medications, he could save another $700 per year by reducing the number of months he is in the drug coverage gap and the amount he pays while in it. Also, Rob received applications for financial assistance with his Medicare premiums and drug costs. Imagine a man so low income he could qualify for Medicaid who is enrolled in the most expensive Medicare policy on the market!