5 Reasons NOT to Get a Medicare Supplemental Plan? 😱

In today's video, Marvin from Medicare School is walking you through the 5 REASONS you should NOT get a Supplement plan!

Do you need a medicare supplement plan? Let's cover the truth about Medigap plans and what you need to know before you decide whether you need a supplement plan or not!

Supplemental Plans are something we discuss a lot on the Medicare School YouTube channel and if you've seen our videos before, you likely think we LOVE supplement plans! Though we feel they provide a very important aspect of coverage for many people, that doesn't mean they're for everyone!

In fact, in today's videos, we will cover 5 reasons you SHOULD NOT get a Supplement Plan, and we'll also discuss determining which Supplement Plan, such as Plan F, Plan G, or Plan N (etc) is right for you and how you can fully understand the difference between each medicare supplemental plan.

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[cherylmolnar]

Sold on Supplemental Plan. No matter how healthy one might be when starting on Medicare life can change in a heartbeat (I've been an RN for 44 years so I know this to be true!) A sudden diagnosis of cancer, heart disease, etc would bankrupt you on an Advantage Plan. I'm not taking a chance!!

[Rancanfish]

So I worked 45 years for my retirement, and now the government steals it back with all the schemes and penalties.

[pamelawing]

I have a supplemental plan and as long as I can afford it, I will never change it. An example, I was in the hospital some years ago, for six days. I had numbers of tests for possible cardiac issues. At the end of all that, and follow up visits, I never saw a bill. I had no copays either. I didn't need to call anyone, I didn't need anyone's approval. I still travel and I have coverage anyplace in the US that takes Medicare patients. Advantage plans are being pushed is because they are working toward privatizing Medicare. I won't be here for that.

Just the fact that Advantage plans are being pushed as hard as they are, puts me off.

[LuvsCats]

I have a supplement plan and I am so grateful I do. I had stage 4 cancer. I did not need any referrals. The supplement plan has been a blessing

[paulstein]

The only reason to go on an Advantage plan is if you need health insurance there is no way you can afford to pay for a supplement plan. If you later want to switch back from an Advantage plan to original Medicare with a supplement, you can go back on original Medicare, but you have to go through underwriting and be accepted into a supplement plan. If you are in good health, fine. But if you have health issues, good luck getting a supplement plan. When you choose at age 65, you could be making a decision that you will be stuck with for the rest of your life. Choose wisely.

[Larry]

I was one of those who lives healthy: diet, exercise etc. Diagnosed in sept with metastatic gastric and liver cancer. The advantage plan would sink me. One thing that’s evil about advantage plans, is that if you go into a hospital that covers you Dr network, there are many separate services that may not be in network, in the same hospital: radiology, specialists, lab. Many of these services work independently of the hospital.

[retd]

If you're healthy, Advantage is great. If you get sick, it's an issue of $7000 max out of pocket / year. It's a risk and unpredictable. If one can afford the $300 or so monthly premium, traditional Medicare is more predictable. Keep in mind also Advantage will steer you to low-cost providers, nursing facilities, etc.

[evelynmejia]

Keep loving your supplement plan if you have it and if you can afford it, my husband changed one year to an Advantage Plan and he almost die, the waiting for the authorization was not bad was around 3 or 4 days but when you feel bad those days are a nightmare plus the VA benefits if your are feeling bad you do not want to be back and forth in those buildings where everything goes slow. So we learned a lesson and we could afford to pay the supplement, so he went back and if there’s a time that we cannot afford it we would buy less groceries or lower something in our lifestyle to keep paying. Have the peace and the help when you are in pain is priceless.

[albertmarnell]

A type of health insurance plan that usually limits coverage to care from doctors who work for or contract with the HMO. It generally won't cover out-of-network care except in an emergency. An HMO may require you to live or work in its service area to be eligible for coverage. It is not what you pay, it is what you get as in delays, restrictions, inferior care and NO!!!

[masterlee]

At 64 I am healthy and I totally get it. But we are all at risk of one day not being healthy. Some more than others. For me it is all about peace of mind since I can afford the premiums. I will gladly pay my $226.00 and then be totally covered. Also I rather pay up front each month and be done with it, not having to worry about a huge bill if something does happen.

[sct]

I used to get EyeMed insurance thru my employer. It’s not worth the money. The Optician would charge $500 and the insurance covers maybe $100-150. It’s actually cheaper to join Costco and use their optical, they also have sales. I bought a pair of RX sunglasses for $259 progressive, polaroids.

[stephenmcnamara]

pre-authorization for Advantage plans is a topic in and of itself, and deserves great consideration before making a choice. Same for underwriting, which I understand can favor supplemental plans but is worth researching!

[jamesmorgan]

Glad to see you dissected both plans and pointed out the pros and cons of both. Most seniors who can follow this are grateful, as am I.

[texbaz]

I don't believe I ever hear reasons most people go the Medigap or supplemental route.
1. With advantage plans your drug coverage is ok, but not great. even though with mendigap or a supplement more drug coverage is possible that would not be covered under the advantage I'm talking about drugs that run into thousands a day. advantage plans probably wont cover and that means out of pocket which can be over the top.
2.With medigap, if you travel you'll have better coverage . advantage plans are basically for regional network doctors and hospitals
I'm basically spending 4, 400.00 a year same with the wife sure its expensive real expensive but if some catastrophic medical condition comes up were hoping things are covered.
All those high pressure advantage plan ads on TV should tell people its a basic money grab by the insurance companies.

[Morynna]

I opted for the Advantage Plan because of finances and all the perks, only to find out our doctors and hospital are not in the network.

[dancooper]

My Part G plan includes a Silver Sneakers gym membership. So at least that perk is not only available in Advantage plans. Thanks for the extremely informative video!

[GS-rwog]

1st time visit to this channel, and is prayers answered. im gratefully tearing up! this is awesome, . Thankyou

[robertmiller]

Man, you are very knowledgeable...but you talk way more fast than I can think.

[bobjacobson]

An interesting video. One thing I understand about Medicare Advantage plans is that a person is essentially limited to a particular geographic area when one is enrolled in one of these plans. I have a Plan G, and I like knowing that anyone who accepts Medicare in any part of the country can provide the covered services. I travel quite a bit, sometimes spending weeks at a time in 5 other states in different parts of the country, using driving between them, so it's reassuring to be able to do this without needing a referral, etc. I have already used services out of state, and I also like that my Plan G even includes $50K of international benefits.

A question I have--if some Medicare Advantage plans are essentially free, who pays for the various "freebies" associated with them? As I've heard, and sometimes even say, "there is no such thing as a free lunch."

[LS-mcrv]

I don’t know if the people complaining on here Don’t realize that this is just another way to look at things. He’s very helpful and I appreciate it he’s not saying you shouldn’t get a supplemental plan he is saying some people should go with an advantage plan under certain circumstances
one of the circumstances being you can’t pay the premium for the supplemental plan
It’s a no-brainer.