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October 16, 2021 8:30 am
We have reached part 4 of the Medicare saga. Hans and Robby discuss important information and details about Medicare 10 for next year.
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This is Amy Thomas from the masculine journey podcast where we discover what it means to be a wholehearted man your chosen Truth Network podcast is starting in just seconds. Enjoy it, share it, but most of all, thank you for listening and for choosing The Truth Podcast Network. This is the Truth Network welcome to finishing well brought to you by Cardinal guy, certified financial planner belonged to Schild, best-selling author and financial planner helping families finish well over 40 years of 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 with finishing well, finishing well is a general discussion and education issues facing retirees guide.com partner advisors and I'm Schild, CFP some insurance this show does not offer investment products or investment advice are welcome to finishing well today with our certified financial planner harm Schild today show was entitled the Medicare 10 for 2022 and you probably think that's a mouthful and it is that you know the neat thing is that it lines up well with this concept biblically here in the Bible. Most people are aware that they were 10 Commandments that that were given in an Exodus, but waterlogging realizes there's actually 613 with the Jewish people call mitzvah, but the good is really really good news is that Jesus pretty much said what are the top two, and so we got this concept that the two that were the most important were right. Love the Lord your God with all your heart, with all your mind and with all your strength and love your neighbor as yourself in the whole 10 are kind of fit together into those two, but I wonder how many of you including me, that would not of been able to tell you the rest of the commandment that had to do with loving thy neighbor as thyself.
So the idea behind the show.
Obviously you want to give you the Tinbergen boil it down, but then it's also the details become very important is just like in these commandments.
So when you hear the rest of the love your neighbor as yourself commandment. Just think, man, this is harder than it sounds. So the way that actually really reads Leviticus 1918 is thou shalt not avenge, nor bear any grudge against the children of thy people, but thou shalt love thy neighbor as thyself. When you add that little part to the beginning you like. Wait a minute, so he cuts me off in traffic like I can get even that person that has been mean to my wife that I've been holding a great you mean, I gotta let that go. Yeah there's there's details in there and and so when it comes this Medicare 10. It really does fit well with that and it got struggling with regular native video like a normally you you to look at the screen and the board or listen on the radio we did. That is crap. And when you when you watch that when I wanted you and you what you a lot of detail a lot of facts you not know what I was trying to and is some cliquish too many facts with the end of the video I can sum it all up is that with humility. By the Jeep got all or if you want to save money. You might want take a look on the Medicare advantage route and you can get it here.
What were talking about today is people, which is many of you were at Kennedy.
Many of you if you're under 65 who are on original Medicare part a and part B red white and blue card to the doctor shown that red white and blue card and covers 80% of your outpatient we go to the doctor you have things not in the hospital. Medicare covers 80% you're responsible for the 20% and then you have a supplement policy that supplement policy pics that the 20% more and so what were talking about today is really that you and all your options all your choices and that's where all the details and facts that are frankly kind of boring. Especially if you just follow my advice and Univac plan G, but to some extent you now is nice to know that there were, you know that that there is that much to begin with, and so there's that much to think about, but it's also nice to boil it down to where this is not gonna be hard yet you're going to come to a conclusion that's going to be simple.
It is nice to know that that you know the details and there's obviously stuff that needs to be considered because to me.
Hans, the choice we make here right with a little bit of study will really help us with many choices when when we really need them when we need the insurance from her sick. There were like your friend Joe.
I would say when were bad sick. Yeah, yeah, and it you make 60 in your early 70s or 70s and then you really use this years later for a large bill when you're bad sick jelly would say and it's too late to make a decision that point so you you you make good decisions now so that you Proper coverage in place have to be worried about that when you're going through sickness, worried about the money.
So the list to get it out. What there are in 47 states in the United States, including North Carolina, South Carolina, really the only states that are excluded from this Medicare can thing our Massachusetts and Wisconsin and Minnesota. The other 47 states in the district Columbia described the Medicare 10 and it really means.
There are only 10 policies available in there exactly the same company to company, so this started in 1990. Some extent the changes they made back in 1990, which was just going to the 10 plan that all the companies can sell that lasted 31, 32 years and I don't see a change in a times and the reason they did. This is the we were trying to make it easy for a consumer to understand the staff and to compare the differences between policy before 1990 I was in the I started in 1976 and we will only study our company's policy and they put some new panty whizbang on their couple of and we go out and we just tell people I know what you have now, but this is what you need and we just change and people are policy and then somebody else to come back and see and they fail what you know you see those two whizbang for we got those two, we've added this other new whizbang and so he was very confusing for people and it lent itself to salespeople going out misleading so they finally call a timeout. Most of all over the country that is that okay these are the 10 policies and Nash where we are now in their name a BCD and so on and so so when you decide you need to buy one of these and for many of you already have you got like a plan at plan G or a plan and you don't know explain you just know you have a Mac yourself if you get in your pocket and pull out the card from the insurance company and you look on it'll say right on their plan G plan at an which is whichever one of the 10 you have and so what I want to teach people is first of all, you don't need to evaluate IT'S really boil down for half G. The and I believe what we offered you. Robbie, in which you have is the Jeep right that is correct.
You turn 65. Last year you got a birthday coming past two weeks yeah yeah you got that it's even on a year and I just simplify this when I explained to you in the region. She the reason I recommended it. It has a motor that you just look at that chart that the new bookshelf entity can find on the website you just look at all the checkmarks on their G has the most benefits. And then if you go back to the planner of the plan. Every time you get downward on the chart you given up, and most people that are comparing these don't even understand with their get out and from my perspective. If you going to go Medicare supplement languages by the death gets back to the hall.
If you're sick please eHarmony because the difference in price is not all that great. Once you in the unit to make this premium, you know, it's just obvious. If it seem like a no-brainer. Obviously when you really look at what yeah that's true at me like the example that we were talking about show G plan for a guy who not can it doesn't have a household discount series, probably single man age 70. Living in North Carolina and buying a G plan was with hundred and $18 a month with one company. The least expensive then that same company with selling and implant prices written report $98 it's $20 a month less, and it's only missing the implant is only missing and a lot of people will tell you that you really don't need us to benefit you can refine and one of those benefits is excess charges that a doctor could possibly charge, and the G plan reimburses you for that was the end plan doesn't. And frankly, if they were important, they would be charging you 20 bucks at temperatures I experience that this you're already because you know one of the doctors I went to didn't do that and you know obviously I got the benefit because it was there and it was really something simple.
It wasn't complicated and the next thing you know you can explain what that's called when the doctor charges more clearly.
You know it's something that happens a lot with Dr. can really be any one of three scenarios with Medicare, you have some doctors that don't take Medicare go with the reality can't create any Medicare patient so that not too many plastic surgeons so most doctors did in the second category is they take Medicare and they accept assignment of Medicare and accepting assignment means that they agree to lower their bill to whatever Medicare approved then Medicare spent 80% of that yourself in the third category is the doctors who accept Medicare but they don't accept assignment this and will take Medicare and will take what they charge will take what they sent us for money to build the patient for the amount over that and then it limits and That the Get into the Detail.
The G Plan Pays That Extra Amount Doctor That Doesn't Accept A Lot Of the Big Time Doctors They Don't Charge More and so People Will Know More Then. My Point Is, If You Can Start Shaving off Benefit to Get a Lower Plan with a Medicare Supplement and Why Don't We Just Take a Look at You Get a Medicare Advantage Plan Where We Can Possibly Get a Zero to Exactly and so You Can See We Got a Whole Mouthful to Talk about It in the Medicare 10 for 2022 and so You Know, It Is Helpful the Book the Complete Cargo Guide to Planning for Living in Retirement. You Know I Outlines All These Different Plans and Different Details and If You Have This Interest When These Other YouTube Videos Which Are All under Cargo Advisors the Website and Sponsors Are Chosen Not. So When We Come Back, Have More 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 in All of Our Charitable Contributions Veterans Aid and Attendance IRA Social Security Care and Long-Term Care. Just Go to Cargo Guide.com and Contact Tom to Schedule a Live Recording of Finishing Well at Your Church Christian or Civic Contacts on the Cardinal Guide.com That's Cardinal Guide.com Welcome Back Five Financial Planner Hans Schild Today about the Medicare 10 for 2022 and so Hans, This Is Our Fourth Show That We've Had a Row on This Because It's a Timelier Work Medicare's Front Center-Right Started October 15 to Go through December Set Just for a Quick Review What You Can Do from October 15 77. You Can Change Your Medicare Advantage You Can Enroll in a New One Relieving an Original Medicare. You Can Purchase a Drug Plan You Can Change Your Drug You Can Enroll in a Brand-New Net Start January 1 and That's Not Even What We Talked about Today That the Reason We Done for Shows on Is to Really Get out on the Airways A Lot Of Information about Medicare and Thinking As Some of You Are like 58, 60, 62 Years Old. You Might Get Tired Diagnosis of the Good News Is That Next Saturday Wouldn't Be onto Something Back on Our Normal Track User-Defined Is Interesting You May Want to Go Back and Look at We We Run for Series of First One, Which Was Three Weeks Ago We Just Talked about the Whole Program Medicare Signing up an Open Enrollment Two Weeks Ago We Talked about the Prescription Drug Plans. The PDP Part D Plan One Week Ago We Talked about the Medicare Advantage MA PD. We Dug into a Specific Plan out PPO Plan Right Here in North Carolina and Then This Week Were Talking about Medicare Supplement Medigap Policies Combined with Original Medicare. I Think It's Been a Good Series and I'm Looking Forward to Getting onto More Advanced Financial Plan Because As I Was Saying That I Guess Because I'm Turning 66 or Whenever I Got like Six Phone Calls, You Know Talk about Medicare and so You Know, a Big Part of, I Think Hans Is Hard.
Here Is We Want People to Get Misinformed Thinking I Got to Do Some Money Don't Necessarily Have To Do Something like What in the Case. We Actually Have on These Medicare 10 Plans or Also If They Want to Do Something. Why Is This Time Special and and All Those Things and so I'm I'm Really Grateful for the Added Information This Year to Try to Help Us All Understand This Because There Are so Many like You Called Alphabet Soup ABCD I Mean It Seems like the Smartest People Have the Most Problem Men Talk about People Turning 65 Just Come in on Medicare Picking up My Stuff out in the Media, and They Finally Called and Then I'm Talking to Him in a Just the Smartest People. The Other Thing I Needed the D and I Want to Get on That Part G and Can I Can I Throw in a Part D Plan D about the Same to Me Just People Seem to Smartest People They Try to Wrap Their Arms around You. I Spent My Life Learning What I'm Learning and I Would Recommend It for Anybody to Fix It. You Only Need to Know so Much Is Silver, but You Need to Know Enough That You Don't Get Taken Advantage of and That You Can Make Good Decisions for Yourself so What Were Talking about Today Is Medicare Supplement, Sometimes Called Specifically by the Government. Medigap and the Reason the Use of Word Medigap Is These Two Things Fit Together like to Glove Going in Their Interwoven You Got the Basic Medicare Benefits Which Are Very Good and Then When You Add the Proper Medicare Supplement or Medigap Plan Just Filled in the Deductibles and Copayments of the between the Two. You Have Very Little Pills to Break What Were Talking about Today Is Getting You in the Right Medicare Supplement with the Right Company at the Right Premium. You Know It's Interesting to Me, Started Muscle Whenever Transfer Years Ago I Had No Clue Medicare Would Require Something on Top of Medicare to That I Would Need Insurance on Top of Medicare but Then Then You'd Be Get into All the Strength Medicare Advantage in These Medigap Plans, but One of the Things That People of Right Now, and That in This Particular Season See Is That If You've Got One of These Where You Got the Medicare Supplements When You Got Them on the Medicare 10 Then You Still Have That Part Deeded to Deal with and It Really Blew My Mind and It Still Really Does That. If You Don't Enroll in That You Know They Find It for the Rest Your Life When You Later Enroll Correctly. If You Stay off for Your Whole Life. You Will Find a Vigil to Benefit You Don't Sign up at the Right Time and Then You Realize Later That Wet Wish I Signed up and You're like 70 Me Know That They Find You There to Make You Wait to Enroll Seek Medical While Longer That Then You Pay a Penalty That Penalty for Last Your Old Life. That's a Whole Area That You Need to Get Informed. Talk about Is We Put You on the Plane G You Bought It Because It Has the Most Benefit. What You Want to Go This Medicare Supplement Route Which Allows You to Go to Any Doctor That Takes Medicare Unit to Full with Networks like Medicare Advantage Plan and Also Give You a Very High Level of Reimbursement for Your Deductibles and Copayments. So Much so That the Only Thing You Need to Worry about It Each Year.
The First 203 Box That It That Pay Your Premium Your Cup so You Real Happy with That. Your Premium Is Just Gone up a Little Bit Because Your First Policy Anniversary I Guess Is That Was Probably 10, 12, 15 Bucks a Month. You Tell Me That's Dropbox.
Okay, We Didn't Pick the Least Expensive One. Last Year He Picked from What We Thought Was the Best Company of the Group of the Least Pretty Close to the Least Expensive, but Now It's $12 a Month. I Went from What to What like Hundred and 10 222 Exact so Just One Year into This World and Rerun the Numbers for You on All the Plane G's That They Sell Music and Urine Because Shocked That You Probably Discover First of All Is That That Same Company That You Bought from His Can Have a Price out There, the Slower It Probably Back at Hundred and 700 809 Is with the Same Company Is Really Not the Same Company. The Same Parent Company, but It Has a Different Sleep Companies before They Get Rate Ready to Raise Rates on Their Older Plan They Just Introduce a New Plan That They're Selling out There in the Public the People to Go through Underwriting Which Your past Is Fine. It's a Little Bit of a Shell Game Whether Every Few Years Introducing a New Product at a Lower Rate That Allows Them to Raise the Premium on the People of South You're Right the Situation Now or You Can Have Side Whether It's Worth Going to the Trouble This Year, Get Your Rate and If You Do That Probably Move You a Different Company. You Have a Different Company Could Be Another Major Company That You for or You Might Look at the Sheet You Sent to Me about This Company. We Got 40 May Also Exactly the Same People and so They All Have Different Underwriting Which You Will Be Fine with All 40 of Himself Will Put the News That off Maybe for Another Show. The Next Time Talk about Medicare but I Just Tell You What Somebody Is Going to Sell You a G Plan for Hundred Five $210 in Your Distended Work $12 a Month for the Year to Go through the Hassle of Changing or You Can 122 Month for Another Year and Then Echoes to 135 Wish to Have Somebody around You Can Feel It. You Know You Can Do This Two or Three Years or You Do It Every That's a Service That We Provide for People and We Just Move around A Lot When You for Exactly the Same Thing Right and and for Some Thumps Had Been on the Same Medicare Supplement for 15, 20 Years and Oh My Goodness There's One That Would Be a Whole Lot Less If They Called and Checked in Did What They Needed to Do Right Absolutely and Much of That We Run into Him to Tell You the Reason That the People Have I Got This and Made the Leave Well Enough Alone. You Know, Let Sleeping Dogs Lie Is That If You Stuff Is so Intimidating to People and so Frightful That They Got Discovered and Used These People That Haven't 15 Years As They Had Some Incident so Many Years Ago, or Even the Small Stuff You Just Pay so Well like It Has for You. People Are in Love with That Company That Pays Their Medical Bills. So Much so That They Don't Care How Much Their Painful They Say Bank Touch and That That Causes A Lot Of These People to Keep These High Premium Coverage. It Is One Leave Well Enough Alone and All I'm Saying Is When We Finally Sit down with Them to Get Angry about Because This Thing You Need to Tell Me That I'm Paying $285 and This Thing It's $101 and Month Is Exactly the Same Thing with the Same Thing Eventually Why Is That Nice If You Got a Week That You're Listening I Can Tell You It Just Is. Then We Thought the Application and Find out That 15 Years Later They Got the Help of Problems with the Camps with in Their Angry That the Induced Fiber in Your Point Being That If You Had Won Anything for A While. You Need to Shop Call Were in All 50 States and Columbia. You Can Send Me an Email Account for Cardinal Guy.com, Your Age, What Plan You're on, and I'll Just Give You Print out Affinity in the Email That You Said Here's a Listing of Aggravated Assault You Plan Your ZIP Code or Net Plan Which Everyone Will Hide Because Unfortunately A Lot Of People about Medicare Supplements, You Know That Their Salesperson Only Represented One Company and They Had No Idea That What You Know That a There Were Other Plans That Would've Been May Be Better for Them and and or Be You Know That That Plan Is Way up on the List Is One of the Advantages of Having an Independent Agent Who Can Look at 40 Different Companies and Say Oh Well. This Is Why This Particular One Is Seems to Certainly Be a Better Pick Both Financially and Covered What. That May Not Fit Lotto Lotto One Company Salespeople out There and They Just They Sign Me up for Their One Company under One Plan with Her One Premium and Stick with It. Because It Pays Well. I've Understand That If You Can Save 100 Bucks a Month, or 50 Bucks a Month, or 90 Bucks a Month Taken a Look at Can You Boil It down Simply for Us Again on the G Plan. It Means for Me and If I'm Trying to Get to the Simple, Nuts and Bolts. I'm Not Can I Have To Pay the Deductible on the Hospital Thing Which Really Had Me Worried.
When I Looked at the Medicare Advantage like What Was It $385 Every Day You're in the Hospital.
You Have No Deductible When It Was on the Medicare Advantage Was 395 Day Maximum Five Days, Which Is Essentially Two. That's Departmental and Medicare. That's A Lot Of Money Right in on Original Medicare Is like $1480 about Their but Your Plan G Supplement Pays That 43 People in the Hospital All Your Deductibles Are Covered. I Have No Out-Of-Pocket between the Medicare Medicare Itself and Your Managers so and Then on the Outpatient Which Is Most Things These Days. Even If You Have a Major Thing the Unitas with the Night in the Hospital A Lot.
Medicare Has an Annual Deductible $203 This Year at the Global Bit Next Year Will Know What It Is but It Will Be Small and after That Medicare Pays 8% and Then Your Supplement Pays 20% in Your Supplement the Plan G Also Pays above the Hundred Percent If the Doctor Does That Balance Billing or Overcharging You Get Coverage for That to so You Have a Major Illness.
Your Out-Of-Pocket Is 203 Box and Go to a Doctor That That's Working to Bring Sign Now.
Again, Lots More Information.
The Other Three Shows That We've Artie Done on This That Would Be on the Podcast Page in Cardinal Guy.com or If You Go to YouTube and You've Got Cardinal Advisors Where This in All the Videos on the Same Subject or Course Cons, but the Complete Cardinal Guide to Planning for and Living in Retirement.
So Hans Is Great Time Today Appreciate It so Much Less Finishing Well Is a General Discussion and Education of the Issues Facing Retirees, Cardinal Guy.com Cardinal Advisors upon Trial 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 Cons Best-Selling Book, the Complete Cardinal Guide 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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