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Medicare Part C For 2022

Finishing Well / Hans Scheil
The Truth Network Radio
October 9, 2021 8:30 am

Medicare Part C For 2022

Finishing Well / Hans Scheil

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October 9, 2021 8:30 am

Hans and Robby go over the need to know information for Medicare Part C for the upcoming year.

Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!

 

You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  Find us on YouTube: Cardinal Advisors.

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This is Sam from the masking journey, podcast or goal with the podcast is help you to try to find your way in this difficult world. Your chosen Truth Network podcast is starting just seconds. Enjoy it shirt but most of all, thank you for listening and choosing The Truth Podcast Network. This is the Truth Network welcome to finishing well brought to you by Cardinal guy.com certified financial planner on the child. Best-selling author and financial planners helping families finish well for over 40 years finishing well will examine both biblical and practical knowledge to assist families in finishing well, including discussions on managing Medicare IRA long-term care life insurance and investments and taxes. Now let's get started.

Finishing well, finishing well is a general discussion and education issues facing retirees guide.com are no advisors on trial CFP insurance this show does not offer investment products or investment advice welcome to finishing well in home and want to show we have for you today. I've learned so much of the week. I'm actually kind of surprised that hey, I'm glad I was late to learn the today show is Medicare part C for 2022 point we can share some stuff for you but along these lines, I got a tie after watching the video, which how cool was this video that Hans did on Medicare part C for 2022 so helpful to me and as I watched it I realized all my goodness what a biblical precedent. This is for those of you who love the 23rd Psalm like I do not remember King David said after he walked to the Valley was shattered that you prepare a table before me in the presence of my enemies, and you may know the significance of that. But if you don't want to share it with you that there was in the tabernacle, which is where they worshiped very specific instructions in the book of Exodus and now where they work to put this at the called shewbread and the shewbread was on a table and it was one blow for all 12 tribes of Israel and very specifically, it had to be on the northern side of the tabernacle so that it faced the North is very specific because if you read many prophesies you can affect numbing many prophecies you can see that the bad guys always come from the north and we have a tendency to turn left which is North by the way, when were going in the wrong direction God wanted the bread to be there when you started to turn the wrong direction that you would see this bread that is that God is going to take care of the tests like the man in the desert. He is going to provide for you.

You don't have to work is good at this and moreover it's in the presence of our enemies because they are the ones that are heading at us from the north.

Well, as we go through this Medicare advantage plan today. I hope you see that that Satan is always out there trying to get you to go like oh no, I'm not can it be okay I need to go the inexpensive route because and I'm not to be able to for this insurance and all those kind of things.

I hope just pay attention today to see wow you know God wants to provide for you coverage that will really protect your family, which, as I watch this video. Honestly, I switched which are certified financial planner on solace of the show.

Actually, I switched. I was really planning on switching to a Medicare part C, but when I saw the exposure I'm like oh no no no no I I'm getting insurance to protect my family and so I could see that that I'm really better off of the supplement that I have yet today show talking about Medicare advantage which many of you are familiar with because he had turned the TV on these days or look in your mailbox government limit the enrollment from October 15 to December 7 so it's about seven weeks we have the 52 weeks of the year to do all are enrolling in this enrolling Medicare advantage plans or stand-alone prescription drug benefit that we get this limited time we get rid of it so that whoever talking about Medicare week after week after week is the Truth Network we try to get through out there people that you can make a decision that that that's what were doing here and so two weeks ago we talked about the all Medicare program and in the upcoming enrollment. Medicare advantage Medicare supplement analog prescription drug plan you on YouTube that video was 30 minutes the longest one we never done and I've received a lot of good feedback about any people think that's fine and 30 minutes. That was the opening monomer probably cannot play that again throughout the season. Then last week we talked about working directly stand-alone restriction drug plans or prescription drug plan part of a Medicare advantage plan. We get into detail about those certain degree to help you make the decision and today were talking about the whole part C program Medicare advantage and then they normally add friction drug on the back of most Medicare advantage plans include a part D plan MA PD and so what we had planned on doing today and I had planned on the video is really just showing you all the good parts of these were striven to do that but I can't talk about. Apparently Robbie watched the video before the record show and he you know I went over enough of what concerns him about those that he just has a right you can stay right redirect. I am the I will get to that part that I love the way you go through the step-by-step that's really helpful. So what I did is a ticket 10 1/2 page summary.this is a summary document that we used to explain these things customers over the phone and I turned it into 11 bullet point though it was a summary document and then it was the summary of the summary. It still looks like a lot when you look at it on the board but I went over the high point in their really critical matters that you can use in making a decision and we just picked up land that use the office ZIP Code here were over in Durham, North Carolina. I only use the ZIP Code here plan is is also available in Winston-Salem and it's available in Charlotte and develop pretty much all over the state North Carolina and their similar plans all over the country and this is with a major national insurer are not can you name because I don't want to send my stuff to them. In this plan that were highlighting here is a PPO which is as opposed to an HMO or PPO is a preferred provider organization. It just means that you have a network and if you go to a doctor in the network plans get paid. And if you go out of network can still do that with a PPO Hampton came and then an HMO, which were not illustrating you have to go to the doctors in the network minutes is that it you can't go to doctors outside the network or your neck again so that important to know that I just decided demonstrate a PPO because you know I purchased one of these myself. I would buy the PPO version for that reason I now just going down when an elder in the video I I'm sure that many of you Show talking about the video. If you go to use it. Just go to Google and type in YouTube and you get to the search function you type in Cardinal advised ADV ISO RF retaken on child you just to come to our channel and then what will come up is this week's video that also come up hundred and some other ones that we have and they track the same as the radio show so so what's on the board behind me on the very biggest attraction to Medicare advantage plans and on this particular one that the plan it is era great.

You just you have to pay nothing for the event and if you're if you're down on a Medicare supplement and original Medicare, and you're going on the first time you could you not even be able to drop your Medicare supplement that you have to drop your Medicare supplement so in your case, your Medicare supplement is on $2030 a month and that was the attraction you say will not go to one of these I can dump that and that big savings and then the second thing is you can. You'll have to dump your prescription drug plan of what you're paying 15, 20 bucks a month for that is the big savings and going to these in the monthly outlay. And what you're doing with this plan or any other one like it is you're leaving original Medicare you're still covered by part a and part B which you agreed to accept your Medicare benefits from the private insurance company behind this plan. Yet even though you're paying zero premium governments pamper a significant premium to have you offloaded to the insurance, that that's how the economic and the very first thing that we have on here is the internetwork maximum that you would have to pay out-of-pocket.

So another words of the worst thing happened to you onto time in the hospital and seeing a bunch of specialists in heaven surgery, whatever that is. The whole thing builds up and you pay all the deductibles and co-pays. Most it's gonna cost you in any one year is 6700 and just look at that on a piece of paper and found to be adamant many of you have deductibles that high. If you're under 65 and a regular plan but I know Robbie you look at what was your reaction immediately was a gamebreaker because and again will get into some of the other details how easy you can hit that 6700, but if I did that 6700 now that would wipe out all my savings and put my you know my family and it risk, as far as I was concerned and I was like well hello I can afford $6700 this year.

You know if that came at me if I am again when the days of coated right now. Many people in the hospital for three or four days. Well, it you know that's gonna cost a fortune.

If you end up there well yeah and you know I do want to understand can be a very serious illness.

You don't like experiences and people that are on these. They come out of the hospital and they've had big expenses they'll a couple $3000 is about what costs they don't get quite to the 6700 even a couple $3000 is pretty tough, even if you're saving 100 and $2030 like you would now we get some is 80 years old 85 and maybe there Medicare supplement is now 300 now we start to change things in the $300 a month is break in the back and then there paying for the drug plan and they start going through this so I don't want to get down on the plan too much over the network and the copayments in the out-of-pocket because many people very happy with them and it produces exactly what they want, but I just it just struck me as we get ready for the show today. I just got you're the perfect example displaying online.

Look at the downside of making this kind and we got much more to cover. We got quite a show you it's for you today and there's no doubt that this is a cool decision.

You get to make it on Medicare with you connected with part C original Medicare women cover so much that in today show Medicare part C for 2022, with certified financial planner Honshu Island is always limited in his book Cardinal died planning for living retirement. It's all.com. Be right back. Hans and I would love to take our show on the road to your church and Sunday school Christian or civic group. Here's a chance for you to advance the kingdom through financial resources and leveraging Hahn's expertise and qualified charitable contributions veterans aid and attendance IRA Social Security care and long-term care.

Just go to Cardinal guy.com and contact to schedule a live recording of finishing well your church Christian or civic group contact contact Cardinal guy.com that's Cardinal guide.com welcome back to finishing well, a certified financial planner Hans Schild today show Medicare part C, which is very relevant for that day and time that were actually coming on the show right to Hans October 15 day you can buy a Medicare advantage plan: one. That will start January 1, 2022. Also the first day that you could disenroll your on one of these now you want to get off on October 15 all the way through December 7.

You can make that election. You can go the other way to and you can only do it during this period time and then the change will take back January 1, people, and they did get bombarded with information, pick up where we left off and where we're going in. We identify that this particular plan has a maximum out-of-pocket $6700 and that means life using network providers when you get always deductibles and copayments of most you can pay out of your pocket seminar but which we justified is a pretty significant amount of money you can be pretty seriously sick to get there. Most people that spend a week 10 days in the hospital and they have something serious and they come out and I got one of these Medicare advantage plan is more like to $3000 they've got in copayments and deductibles and nested in my experience with the number $6700 and the government really think they're doing you a favor by you nor the Medicare plan because not original Medicare you got 80% coverage part B and you've got 20% of your out-of-pocket.

There is no limit on what they don't tell you is, most people have a Medicare supplement they got no out-of-pocket with a Medicare supplement and original Medicare health got premium so not 5700 boxes is something you need to take a hard look at and you have to leave for the show. There are plans that have lower amount, but I really haven't seen one lower than 5000 $4500 still in the same neighborhood get the ones that have the smallest part now where you can build up to that is you haven't you go as an inpatient hospital you are going to have to pay with this plan, 395 bucks a day.

The first five yeah that is roughly 400 bucks a day is about $2000.

Your five days you got 2000 box out-of-pocket and again when I compare when you go over the supplement with your now and original Medicare rally you spent five days in the hospital you're now enough because you all paid by the supplement conduct so that that's a big area right there is the cost to go in the hospital. If you stay there while a couple thousand dollars now when a lot of people happens is you go to the hospital. He got up wrong with you and your concern about it. You go through the emergency room or you got the check in their iniquity under what they call observation and if you do that outpatient observation thing just have a deductible of 395.unless you don't go to a network hospital. If you go to nonnetwork hospital yet pay 40% of the bill showing an example that you don't you go ahead in the middle of the night to a hospital neuron.

One of the things you need to make sure that you're headed toward a network. You just go down in this list. I don't go through the whole thing verbally when you can't look at which you have a bunch of deductibles and copayments that they can go to the doctor you go to specialist unit pay 20 4045 $55 each time I felt bad that and again to compare when you're around the supplement.

The only thing we have plan G, like you do rally on. We are not part of one of these things, you got an annual deductible of 203 box under part B that the supplement doesn't pay and then after that, everything you've experienced that you not right yet this year is been a good year but the year before that you experience that real quickly so just in general what the reason you would do one of these Medicare advantage plan is to have the zero premium so that you you don't have to pay money by the month as opposed your Medicare supplement correct and Dan. That's the biggest reason and then the second reason is. These include a lot of great like dental insurance hearing, vision, and membership may also include a part D drug plan that you rob the air and purchase for me separately and you pay a premium, but after the month.

This just comes with package when they say zero premium they really mean it. Those of the things that attract people to the zero premium and the all the goodies, now the detractors are the things that would make you adequate your intent are all the deductibles and copayments without any known gap insurance or Medicare supplement come in and paint and the fact that you need to use in network doctors. So anytime you get back, you're gonna have to go to the ones in the network and the thing about that if you get seriously expect you really lost the option of going doctor shopping like example I use my wife going through cancer year ago and we're fortunate 165, but we we were able to go to do, which is one of the best cancer places in the world and I actually picked my network because of you. While we were there. There were people from all over the world and certainly from Oliver North South Carolina and Virginia and many of them you know they just came in there for the care and you know I hope that Duke was on the network, whatever their plan is your definition so you know when I get down to the whole thing and I'm going to have been much of a sale that you and IIII really. We offer these, we probably write to 300 of them in here and people love and adjust people are willing to accept the exposure of the out-of-pocket were able to pick plan that covers all the doctors that they want to go to. I don't really want to downplay these things so much.

We have many people that are paying much more than you are Robert the Medicare supplement and the other in their 80s or late 70s and they're paying 200-5300 bucks a month in the pan.

A lot of their drug plan.

Second displays the number that I wanted to sleep things. I just want to explain that when people are count them on TV in their mailing all kinds of stuff talking about. These are the greatest thing since sliced bread. Yeah you you you really need to be able where your you need to read the fine print and you can certainly call us that we represent most of the land. We also sell for most of the Medicare supplement, trying to get your Medicare supplement premium down and you're looking at these. We can also look at some other company for your Medicare supplement made take care of that way I am.

Sentiment one of the clinical aspects and in being a cancer survivor myself like all of a sudden now you know they want you to Canada Baptist Hospital as well as Baptist. You know that the network is over in his aunt and understand that people in our area.

This is kind of the decision and in and I have a dear friend that actually it was everywhere around Hans.

They wanted to send his daughter to do that they wanted.

They felt like the better doctor for her leukemia was a Baptist in their insurance and they what they went through in order to make all that happen, and so it is a cookie-cutter deal that that for everybody.

It's a really good idea. From my standpoint to talk to Hans to talk to Tom was with Hans and share. This is kind of where I would go if if if I was really in trouble medically and what is that look like with Medicare advantage and as you say enough. The average person out-of-pocket back is out somewhere around three or $4000 and are paying $300 a month for the supplement, you know at all those in you made a statement to me for the show. I had to laugh and still laughing like it was hard to know what kind insurance you have with your car insurance until you had an accident and knows that what seem like a great insert what you have asked that it ain't so great and so that's where it really helpful to have an agent or somebody that you can talk to and trust and say okay you know help me here because I don't want the tail to wag the dog will yeah I like to.

I shall go on the record we we don't get sick, we just look look at the past three years, and I want this one or zero deductible on the network doctors that I get vaccines in. I'll be fine.

My friend has this one and cheat sheets had the same experience of that's what I want and I'm like well you know if you knew that all you were going to have you. You could just forget the whole thing Medicare and everything in your not buying that for wellness care That's all the stuff they cut your buy-in that because 10 years from now, six years now.

Next, you can have something very serious and when that happened you want to have make good decision. During this time that simple and working out working to just assume that that happened to you and then advise you accordingly. Maggots.

That's what I can't get it in again. I know, I guess I've had the unfortunate experience of having a few health accidents and so I him and watch you know other people, so I'm thinking if you listen and wow you know you may be 50 in thinking all my parents run Medicare you know what, what are they doing them and how can I find out from them, you know, because everybody's got exposure here. I've got a good friend that we have in common that that I know that she took Medicare advantage because she felt like she couldn't afford you know the Medicare supplement, but it it's harmful to her health because she won't go out you know and get that did the health care she needs their plans for people on Medicaid or version of Medicaid which is extra help with very Medicaid people of lower income that we can actually tailor Medicare advantage plans for them that these deductibles are brought way down so we can have something for everybody and perking her example that may have been an option is an option. Just don't make decisions in a vacuum, or artists calling somewhere or somebody comes out you're out by the firstlings trunk sounds Because Satan does come from the north and he understands that often were focused on the simple stuff of life and not really with the bigger picture is and so you know I used to say when I sold extended warranties. The people that needed them. The worst were the ones that couldn't afford them and that so much with insurance like that in so many ways and then yet laugh and I've had people essentially hanging up overview tell me to get lots that they are not interested in thinking that Sony could give us in the show.

And then there being there and something called them up transaminase things and I discussed face thinking this get behind me Satan there at L and forge.

They ran out of time again before he ran as show so lots on that video as he had mentioned if you go to cardinal advisors on YouTube or you go to Cardinal guy.com.

There you can find all the resources including Hans's book the complete card and a guide to planning for and living in retirement.

Again Cardinal guy.com.

Thank you Hans so much fun. Thank you.

Finishing well is a general discussion and education of the issues facing retirees Cardinal guy.com cardinal advisors of Hans Schild CFP some insurance this show does not offer investment products or investment advice.

We hope you enjoyed finishing well brought you by Cardinal guy.com visit Cardinal guy.com for free downloads of the show previous shows on topics such as Social Security, Medicare and IRAs, long-term care and life insurance, investments and taxes as well as constant best-selling book, the complete Cardinal guy to planning for and living in retirement and the workbook once again for dozens of free resources past shows to get Hans both go to Cardinal guy.com if you have a question, comment or suggestion for future shows.

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