ACA Renewal Period is now

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  • #1622140

    CTLAWYER
    Participant

    There has been discussion of the ACA (sometimes called Obamacare) weaving its way thru the election results thread, so I am starting this new thread.

    It is near the end of renewal time for ACA.
    I have long been a proponent. In CT the exchange works well, we didn’t lose a single provider when we switched from an individual policy 5 years ago, gained many additional hospitals and specialists to use.
    Our policy has been an average of 40% less than 6 years ago.
    I went for renewal meeting today. Our current policy was going up $500 per month. The agent showed me the alternative policies/plans available. We switched to one with a higher deductible and the month will be $50 less per month in 2019 than 2018. That said our out of pocket maximum will go from $1200 to $2000 per year. $800 more in out of pocket is a great exchange for a premium savings of $550/month over our current plan. Co-pays stay the same.

    Now that I have finished this task, I am shopping Medicare wrap-arounds as I start Medicare in February. This is much more confusing. Agents keep pushing Part Di(Rx coverage). I take no prescription meds. I’m going without this coverage. Even if I start taking them, I only will have a 10 month exposure and can add teh coverage for 2020.

    #1623006

    Mammele
    Participant

    CTL: I don’t know your options, but is it perhaps possible to get a High Deductible Prescription plan? I think you may be underestimating the cost of some drugs, should you ch”v need them this year. I sincerely hope you won’t.

    And of course, drug companies charge more to the consumer directly than for insurance companies.

    You seem to be the cautious type, so find your own insurance broker, not from the ones that are running after you, and you might get a better picture.

    Wishing you the best of health!

    #1623017

    CTLAWYER
    Participant

    @mammele
    I’ve gone through my records. Since 2009 I have spent a total of $30 on prescription medicine. So it is not worth paying any premium for 10 months coverage in 2019. I’ll self insure (B”H I can afford the srik).

    Mrs, CTL will stay on ACA for another 2 1/2 years after me and have full drug coverage. When she goes on Medicare she can choose her own plan. Unlike spousal coverage before age 65, married people on Medicare don’t have to have the same plan.

    >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
    BTW, sometimes it’s cheaper not to use the insurance for drugs. Mrs. CTL uses Lyrica. The co-pay with insurance is $40. She went on mfg website and registered for an Rx card for Lyrica. Takes it to a different pharmacy than the one that has her insurance info and pays only $25 per month. Many drug companies have these low price deals.

    #1623029

    leaniyus daati
    Participant

    i am new to this subject, but i believe that ctlawyer is making a mistake. i believe that if you dont sign up for medicare part d (drug coverage) within -63 days of being eligible- then if you do sign up at some future date, you will be paying a late sign up penalty forever. check it out.

    #1623104

    CTLAWYER
    Participant

    @leaniyusdaati
    There is no late sign up penalty when you choose your plan for the coming year during open enrollment in the fall.
    Since I go on Medicare in February, I’m choosing to self insure Rx for 10 months. I can make a decision for 2020 in Nov 2019
    I have this determination in writing from Medicare

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