There is a 52 page 2014 Medigap Buying Guide in the files section for this group. There is no Advantage Plan Buying Guide because I cant find one and possibly it does not exist. Also cannot find any guidance on how to make the decision which plan Advantage or Medigap is best for you. Without guidance how do you make the best choice for you? This is the biggest problem area for us as we move to Aon because the decision we make in 2015 will have consequences in 2016 and beyond. None of us can predict future health problems, but some of us have already experienced them. If you have a present health problem it is a big deal and depending on the problem can exclude you from being accepted by an insurer. For AT&T retirees on Medicare 2015 is a once in a lifetime window of opportunity to buy a healthcare plan with Guaranteed Issue and both plan choices have it. However, only one of the two plan choices, Medigap, has lifetime Guaranteed Renewal. Making the decision to buy an Advantage Plan or a Medigap Plan is the single most important thing you will do this year. After you have made the decision to go Advantage or Medigap the individual plan you pick is not nearly as important. If you go Advantage Plan it is a financial, coverage, and provider access decision. Which is best? If you go this route you best know what zero premium, PFFS, HMO, PPO, and PDP plan included and not included mean. You need to know all limitations and restrictions that come with those plans. If you go Medigap it is a financial, and coverage decision. Any of the Medigap Plans will give you coverage that supplements Medicare, but based on the plan letter the coverage is different. If you could predict with certainty your future health this decision would come down to a financial decision. But we cant. One thing Medigap does do is give us an opportunity to eliminate future financial risk by buying a plan that covers everything. There are plans with lesser coverage but if your health is good you may not need complete coverage now or in the future. How do you decide which plan is best for you? 1. learn all you can about the Advantage Plans and Medigap Plans A, B, C, F, K, or L. 2. Call independent insurance reps and ask questions. 3. Call the individual insurance companies selling those plans. 4. Make a list of plus and minus points for the plans you are considering. 5. Total the costs for each plan. Be sure to include the premiums and drug costs for a Part D Plan if it is not included in the plan. 6. Know what the out of pocket limits are for the plans you are considering. 7. Ask questions on the ATT Retiree Issues group and read other retirees questions and answers. 8. Make the decision based on what you feel comfortable with. Did I miss anything?
Posted on: Tue, 23 Sep 2014 18:23:49 +0000
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