Do your homework-Check other Medicare Options before signing on the State’s Retiree plan:
If you are a State of Kansas employee or have a friend, relative orneighbor who works for the state and is near retirement, thousands of $$$$$ dollars can be saved by contacting me before decisions are made to go with the State of Kansas Medicare retirement options.
State retirees and their spouses are leaving thousands of premiumdollars on the table by not checking other options available to them. See example below:
Kansas Senior Plan C with Prescriptions and dental coverage:$368.63 per month per person
$4,423.56 annual per person
Medicare Coach Plan F high deductible with prescriptions anddental coverage: $75.04 per month per person
$ 900.48 annual per person
Annual Savings comparison:
Kansas Senior Plan C Annual Premium per person: $4,423.56
Medicare Coach Customized Annual Premium per person: $ 900.48
Total Annual Savings per person: $3,523.08
Annual Couple Savings: $7,046.16
Medicare Coach Planning Fee: $175 each – 350.00
Total net Annual Couple Savings: $6,696.16
The high deductible Medicare Plan F is $2100 per person percalendar year, but if the annual premium savings is put in a money market account, the annual high deductible becomes a zero deductible with cash left over to use for costs not covered by Medicare like dental co pays, eye glasses, hearing aids etc. Be a smart Medicare shopper. Medicare high deductible plans will be the wave of the future.
We are just ahead of the pack by keeping track of the math and how Medicare’s huge write off assignment program works. Medicare writes off an average of about 50% of medical provider charges. So when your providers say, we accept Medicare assignment, you already receive a 50% discount for the charges. Then Medicare pays 80% of the discounted cost, you pay 20% until you reach the $2100 per calendar year deductible. Or if you have the “I don’t pay anything” supplement plan, your insurance company pays it.
Most Medicare beneficiaries receive less than $500 in co pays paidfor them by their full blown regular Supplement insurance plans per year. Why not save the premium, and then you pay those small doctor charges of $19 to $100 and pocket the difference. Having a high deductible plan also helps you monitor when and how often you go to the doctor. The current Medicare system operates like a credit card for most beneficiaries who have the Supplements that pay the difference, but very few know how the system works because they don’t know the costs and don’t know who pays what and …who wants to read those confusing Medicare and Supplement reports. I’ve been tracking all of my Medicare costs on an excel spreadsheet and you’d be amazed how the math works in the favor of the insurance companies who pay all of your co-pays.
Medicare beneficiaries just know that “I can go to medical providers who accept Medicare as often as I wish.. I just show them my Medicare ID credit card..never get a bill, don’t know what it costs.. What a great program.. they say? This will all change eventually because doctor’s offices are flooded by Medicare beneficiaries who are all carrying their no pay credit card, and doctors have to see hundreds of Medicare patients to make any money because the doctor’s are giving their patients a 50% discount right up front because they agreed to accept Medicare’s assigned amount for the charge. This system must change and the high deductible supplement strategy is the first step to make it happen. If you know that you’ll be making the co-pay up to the first $2100, you’ll be very selective when you seek medical treatment, and doctor’s Medicare patient load will be reduced in the process.
This email alert was prompted when a client called me this morningand said that her husband was retiring from the State of Kansas and going on Medicare. The question was: “What can you do to compare with the State of Kansas plan because we are both healthy and take no medications?”
Call me (785-537-0366) and I can put thousands of dollars in yourpocket. Even if the couple spends $500 each in co pays before they reach their $2100 maximum annual calendar year deductible, they still save about $5,700 average in premiums per year and as healthy as this couple is, we’re talking about a $57,000 savings move over ten years.
Be a hero and send this article to anyone you know who is aboutready to retire and works for the State of Kansas. Who says seniors can’t really get ahead with Medical inflation costs? You get ahead of the pack by learning more about all Medicare options available to you… and I’ve got the Medicare playbook and can show you moves you won’t hear about from the marketing materials you receive from the Product sales folks who want you to buy their mousetrap (Supplement or Part D plans), but they don’t mention the high deductible supplements that can save you thousands.
Why aren’t product people marketing high deductible MedicareSupplement insurance plans? Because if you are promoting Medicare as a product sale which is how the industry does it, who wants to sell a $30 per month premium for a high deductible Medicare Supplement, and try to make a living receiving a commission of $70 per sale with a renewal commission of about $30.
I can do it because I’m a fee based planner. The 2012 fee to join our Coach program is $175 per person with the option of renewing at $100 per person. This arrangement provides unlimited access to our service with no additional charges. Those of you who are in our program will be billed for $100 each during October of 2012 for your 2013 plan year. With this renewal, you get an annual prescription review. Last year’s reviews saved some clients up to $500 or more in co-pays for 2012 when we were able to switch prescription plans and show them the new plan where they can get generic medications with no copay and no deductible with a monthly premium of $25.80. (One hundred forty 140 members switched to the this new plan. Those former members who didn’t renew, did not get the benefit of the significant savings. That’s why I encourage our members to stay in the program every year.
So by staying in the program with the renewal fees allows me toprovide retained value for you and offer ongoing savings strategies. Thanks to all of you who are part of my Medicare Groupies.. As your coach, I work for you and look out for your interests.. So far we’re up to about 250 members.. so let’s keep it going and spread the word..your referrals are the life blood of our program. Thank You.. and the next time you go to the doctor, ask the person checking you out, what was the charge today? Write it down. Then read your Medicare reports from your Supplement insurance company and see what Medicare wrote off, what Medicare paid, and what your Supplement plan paid. Then total your annual premiums paid to the Supplement company. Subtract the annual total of what the Supplement company paid. Then call me!
Coach
