How ORIGINAL MEDICARE leaves you exposed | Cost of Original Medicare vs Plan G vs Advantage

Some feel they should stick with Original Medicare only and forego the Supplement vs Advantage decision. In this video, we breakdown some cost examples of what they would look like with Original Medicare only vs a Supplement Plan G vs Advantage.

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Chapters:
0:00 Introduction
0:55 Costs & Gaps of Original Medicare
6:29 Costs for Services
6:47 Specialist Visits
7:55 Surgery
9:10 Hospital Stay
11:00 Cancer
14:04 Totals

[davidfolts]

When you have costs presented logically and efficiently, it makes it simpler to make crucial decisions. Well done, 90 Days From Retirement!🎯

[mhw]

This is, hands down, the CLEAREST explanation of this that I have ever seen!! GREAT JOB!!! I am going to share this far and wide!!

[miguelberrios]

I have learned so much here, from this channel about the possible cost for treatments from these two alternatives. I for one, appreciate the time and effort you have placed on educating all of us with your videos in this extremely important issue. I'm happy to have subscribed to your awesome channel. Take care and God bless.

[doncherf]

The common person doesn't understand the meaning of insurance. Insurance is purchased just in case something goes wrong.

So to decide that you don't need health care insurance because you're never going to get sick is quite similar to not purchasing auto insurance because you're never going to cause an accident or not purchasing homeowners insurance because your house is never going to suffer any damage for any reason.

If you get to the end of your life and your house never had an issue, and you never caused an auto accident, and you were never sick, then you didn't really need any of those insurances. However, none of us can see the future, so you are paying for the assurance that if anything does happen, you will have coverage to take care of it.

But in the case of healthcare insurance, all of this would be covered if the US had single-payer Medicare For All.

It's also a big part of the reason that school playgrounds are no longer available to neighborhood kids. Schools can save money by installing locked gates to keep kids out instead of paying for insurance to cover injuries suffered by kids on their playgrounds outside of school hours. If the US had M4A, playgrounds could stay open since we would all have medical coverage. We need M4A now!

[RS-bnrx]

Finally a clear review.. would also like to understand where a high deductible Plan G figures not this.. thumbs up. Tks

[alansach]

One thing not mentioned is that with an Advantage Plan you are typically restricted to a "network" of providers. If you require care outside of that network, say while traveling, or perhaps specialized treatment at a hospital or from a specialist not available in your network (like the Mayo Clinic, or specialized cancer treatment center), your costs are higher and sometimes (correct me if I'm wrong), don't count toward your maximum out of pocket. Also, at the very beginning, when you went to see the specialist, you would have needed a referral from your assigned primary care provider with Advantage, while with original Medicare, or original with supplement, you do not need a referral to see a specialist. You may go to any doctor anywhere in the US that accepts Medicare.

[rachelcorrie]

France: Healthcare from the cradle to the grave, no copays, no deductible no billing, no enrollment no A, B, C, D, no donut hole, no bill collectors, no bankruptcy's and no one loses their home if they get sick.

[miguelberrios]

I am happy to see that someone has finally prepared some examples for certain procedures on medical costs, with the Supplement and Advantage plans. Thanks for taking the time to educate us on these examples. I would very much love to see the breakdown on costs for coronary desease like a heart attack, to include a heart stent placement. I went through three of these, last one back in 2017. This could very well help me decide if I should stay on my Advantage plan or move to a Supplement plan. I am still in my initial enrollment period. Thanks again Erik, God bless.

[geodiromero]

One thing he didn't mention is that the advantage plane is not accepted everywhere, one example is MAYO clinic.

[tinalippincott]

Brilliant and clear analysis! Best explanation with examples I've seen illustrating the very real exposure if one chooses only original Medicare with no coverage (Medigap or Advantage) to address 20% patient liability. Possible devastating exposure with no drug coverage, as well. Appreciate the effort and organization that went into this video.

[richardpiotrowski]

Thanks for a great video...
I dumped a C plan this year due to the fact that they wouldn't let me go see a specialist without a PCP visit first and the fact that doctors kept disappearing from the approved list...
(I live in rural America, so it is common for doctors to come and go...not the plan's fault...)
I'm on a supplement now and I can travel "out of the region" to see who I want...

[JoseGarcia-oomc]

I know this is an old video, butt I really like it . Thanks

[freecycling]

Another consideration is the fact that as health care costs continue to increase over time, more and more Advantage plans will begin charging a monthly premium, making it an "unkown quantity". With the supplement plans, there's already good information on the history of premium increases for the various companies / plans.

[jhors]

Thank you for posting this helpful video!

[thxguy]

Your cost comparison is valid (for the most part). However, you did not mention that Medicare and private insurance companies negotiate prices with hospitals and providers. The actual amount that would be paid for that surgery would almost certainly be less than what you're showing there. It would've been helpful for you to have been more specific as to the type of surgery after which the negotiated price would have been $25, 000.

[artking]

Great job! But, I would love to see a comparison like this for each based on not having any medical issues - maybe 1 or 2 doctor visits (That are 'required') and small amount for Rx. I know this is to plan for the future but I have been paying Part B, Supplemental and Part D and not 'ever' meeting any deductibles etc - I have already went to minimum Part D and get Rx with GoodRx and pay $25/month for BP meds

[gdobiewest]

Love your videos, retiring in 7 weeks, just signed up for Social Security and Medicare. Will be getting with our broker soon to go over the numbers and which plan we will use. Thank you

[RnLlamas]

Awesome presentation, this is my 3rd. video I see from your List of videos & they just continue to get better. Question: If there is no issues during the year with original Medicare plus supplement I would continue to pay monthly year after year, whereas on advantage I will be saving the money and only copay the basic visits as routines to my doctor or specialist. So in the future if something catastrophic were to occur then the most I would pay is Max out of Pocket.

[donteller]

I don't want to think about money when I possibly need to go to the doctor, urgent care or emergency room. I also don't want preauthorization's since that is for an opportunity to deny service to increase the insurance company profits. Plan G for me.

[masterlee]

Gosh, I hope anyone watching this video realizes just medicare only is a huge risk even if you are healthy. I do have a question. Is there a cap on the coverage with the G plan or Advantage plan. I mean if something bad happens and the total bill is $500, 000 is there a max amount paid out or ceiling. You may have said this in previous videos and I just missed it. Thanks.