Here's How Much You Would Need to Pay With Medicare | Medicare Supplement vs Advantage

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@theretirementnerds

⏰ TIME CODES ⏰
0:00 Setting the Scene
0:48 🩻 Pre-Operation Expenses
3:42 👨‍⚕️ Operation Expenses
4:58 👩‍⚕️ Post-Operation Expenses
8:02 💰 Annual Plan Costs
10:08 🧮 Final Costs
11:41 ⚖️ Disclaimer
12:34 🎚️ Other Factors

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#medicare #medicareadvanage #medicaresupplement #theretirementnerds

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[carlalatuda]

I had a hip replacement in Jan 2023. I paid my $226 deductible against my pre-op tests. I went to the surgeon of my choice, was in PT rehab for 12 days, the dr prescribed follow-up meds, and I had in-home PT for four weeks after rehab. I have Part A&B and Supplement G. Aside from my Part B premium and Supp G premium, I had no additional out-of-pocket costs. That’s including all my follow-ups with the surgeon and his PAs. A&B and supp G are more than worth it for me.

[dwnwind]

71 y/o, I fractured my right hip and wrist. I had surgery 12/23 and was sent to Skilled Nursing Facility. I was released after 60 days. I'm currently doing physical therapy once a week. I know every persons scenario is different. In my case, I have several medical issues. Therefore, I chose a Medicare Supplemental plan G.  I'm happy with my plan.

[bgrider-jvsy]

I remember walking into my doctor’s office, with my Altra comfortable wide toe box shoes, and seeing a sign with a list of all the Advantage plans they were not accepting. That made my Medicare choice much easier! Enjoy these cost breakdowns. Thanks.

[UncleDavesKitchen]

I'm a retired RN Case Manager for a large hospital chain and I can not tell you the frustration, time and energy it was to try to get benefits for MAP plan patients for treatment, disposition and follow up treatment. Another important factor is that MAP may only contract with specific SNF, often not the best. Traditional Medicare can go to any SNF on discharge. This can be a major consideration for proper PT/OT/ wound care and location to family and support. SHOES

[betsydoc]

Your comparison of shoes and everything else is always so fair

[dancalderwood]

Truly appreciate your very balanced and objective approach. Even though I'm a traditional Medicare fan it's really nice to have an objective presentation of Medicare advantage to make sure that I maintain a critical thinking perspective on retiree insurance. I'm a big fan of slip-on shoes 🙂

[hap]

The thing about advantage plans is its like going to the shoe store and being told you can only buy a couple of kinds of shoes. The problem is, instead of shoes we're talking about surgeons. So you want the the best shoes you can get since unlike shoes, you're going to wear your surgery for the rest of your life. And the shoes on offer with the disadvantage system, speaking as a doctor who's seen them all too often, are never the best.

[victorfields]

My HOKA sneakers will keep my legs working strong hopefully avoiding any knee surgery. Thanks as always to your concise and informative Medicare videos. Approaching my 65th birthday and impending Medicare signup late summer.

[llhandpay]

Dr. Weir suggests Supplemental plan N overall. No referrals, out of network for travelers, etc. You never know what the future has in store for you. Your example was great, but I will stick to my supplement plan.

[deanrotering]

After my mom’s bypass surgery and rehab stay I will never get an advantage plan. If you have to go to a skilled nursing place it’s a hassle renewing every few days and they will do anything to get you out of there. Supplemental plan all the way for me.

[ph]

I've been wearing "barefoot" or "minimalist" shoes for 18 months. They are flat, no cushioning and a wide toe box. Lets your feet interact naturally with the ground...Great video, as usual! A big thing that sticks in my mind is that the Supp plans are much more stable year to year, basically the stuff that is covered is covered the same all the time Adv Plans they can change up who what, when, and how changes very often...

[todddunn]

I have traditional Medicare and an F supplement. My total knee replacement with all the pre-op costs, surgery costs, 12 physical therapy visits and two surgeon follow ups after the initial 90 day period. My total cost was $0. I also had a fair amount of pre-surgical lab work that was billed separately from the surgery. In my case I stayed overnight in the hospital. My total surgery bill was about $56K and everything else came to about $12K. I don't attribute all of my Part B and Plan F premiums to this surgery since I had about $80K in other medical services that year. I don't carry dental or vision since I only pay about $60 per year for vision and dental coverage around here stinks. I do have a drug plan but it is $0.50/mo.

[davidfolts]

Thanks for the great video, Erik. It is another outstanding addition to your virtual library of added value for those interested in healthcare and financial topics; you are unique in this space, and over 100, 000 subscribers tell the tale.🔥🔥🔥

[effwitt]

Thank you for the timely video! I'll be on Medicare early next year and knee replacement is the only foreseeable procedure that I'll need. I've been able to keep the knees semi-happy by maintaining strong quadriceps, plenty of no-impact cardio and of course, good shoes.

[PS-wvkk]

I wear mostly boots.

Thanks for this example. Quick and clear numbers giving an idea of the different plans for 1 major operation and physical therapy.

[lynnephelps]

Birkenstocks! 30+ pairs in every color collected over a lifetime and all still wearable. Great video! It is worth noting that all the supplement expenses are already budgeted for, so important on a fixed income, whereas the Advantage plan costs could be a nasty, budget-wrecking surprise.

[joycecowles]

My husband has large feet and has to order his shoes online. He recommended your videos since I'm just now navigating this process. Thank you!

[kathi]

I’m a physical therapist and spend a significant amount of time educating people on the importance of shoes that provide proper support. Unfortunately, there are more times than not, that I am telling people they need to give their shoes a Viking funeral.

[bria]

I needed hightop shoes to deal with ankles with advanced DJD - Orthofeet delivered the support and zero "break-in" time. Are they beautiful? That is in the eyes of the wearer! I can walk a lot farther in the hightop shoes with less pain and no sprained ankles. Win-win! * I am very grateful that most of the problems I expected and some I didn't expect are happening before there is a big change in the Medicare Advantage Plan that I get through my Employees Retirement System. It has been a real blessing to essentially walk away owning little or nothing. That won't last, but I have two new knees and a big surgery (unexpected) that were totally covered during these more advantageous (pun intended) times. Feeling blessed. Really blessed. * I love how informative your work is, and I promote you to anyone who will listen. Thank you so much.

[JodyFaldet]

The comparisons were very helpful in this specific example. Comfy shoes are the best!