Bankers Plan D Vs BCBS Hi Ded Plan F

[MedSupMan]

I know a lady who is 81, has A-fib, pacemaker and cannot qualify for a supplement with any company other than BCBS of IL or AARP (and AARP is higher priced than her current Plan or BCBS).

She is currently with Bankers Life and Casualty and has Plan D from years ago and pays $212/mo.

I won’t get a commission from this either way as I am not licensed with BCBS of IL.

What it gets down to is with her Bankers Plan D she is basically guaranteed an annual expense of 212 * 12 = $2544 + her $147 deductible = $2691.

With BCBS of IL, she can get Plan F Hi Deductible for $85/mo * 12 = $1020 annually.

So with her Bankers Plan D, her annual min and max is $2691.

With her BCBS Plan F Hi Deductible, her min is $1020 and her max is $3130 (I.e. the Hi ded of $2110 + premiums of $1020 = $3120). So her risk with the BCBS High Deductible F is just $430 annually over what she is guaranteed to pay out annually with her Bankers Plan regardless of her healthcare required i.e. $3120-$2691 = $430.

She is in decent health but in the past couple years she would have averaged $60 per month in Part B co-insurance charges. She doesn’t see that decreasing and we all know it could increase.

My view is that Plan F Hi Ded is hard to beat since she says she wouldn’t mind paying the extra bills she receives if she has the opportunity to perhaps save some money. She is comfortable financially and that should be the trend into the future with her current investments.

(BTW, She could also qualify for a BCBS Plan F Select for $203/mo and Plan N select for $142/mo annually but I left this out of the discussion as she seems to like the savings with a high ded plan.)


I would appreciate any views to the contrary. I have read the other threads on the site regarding this but wanted to be more specific in this particular circumstance.

I’d like to help her save money but we all realize she is only getting older and may require more care eventually. But the savings seem to be significant enough for this to be a worthwhile choice and not much of a gamble.

Thanks

 

[GreenSky]

If you do the math, it's rare that anything other than HiF makes sense. However, most seniors are afraid to take that risk and most agents would be broke is that's all they sold.

I tend to like Plan N because she won't be hit with $1,800+ if she is hospitalized.

This was the subject of at least one webinar we've done at Medicare Training 101. Our members have access to the live webinars as well as archives.

Rick

 

[goillini52]

I know a lady who is 81, has A-fib, pacemaker and cannot qualify for a supplement with any company other than BCBS of IL or AARP (and AARP is higher priced than her current Plan or BCBS).

She is currently with Bankers Life and Casualty and has Plan D from years ago and pays $212/mo.

I won’t get a commission from this either way as I am not licensed with BCBS of IL.

What it gets down to is with her Bankers Plan D she is basically guaranteed an annual expense of 212 * 12 = $2544 + her $147 deductible = $2691.

With BCBS of IL, she can get Plan F Hi Deductible for $85/mo * 12 = $1020 annually.

So with her Bankers Plan D, her annual min and max is $2691.

With her BCBS Plan F Hi Deductible, her min is $1020 and her max is $3130 (I.e. the Hi ded of $2110 + premiums of $1020 = $3120). So her risk with the BCBS High Deductible F is just $430 annually over what she is guaranteed to pay out annually with her Bankers Plan regardless of her healthcare required i.e. $3120-$2691 = $430.

She is in decent health but in the past couple years she would have averaged $60 per month in Part B co-insurance charges. She doesn’t see that decreasing and we all know it could increase.

My view is that Plan F Hi Ded is hard to beat since she says she wouldn’t mind paying the extra bills she receives if she has the opportunity to perhaps save some money. She is comfortable financially and that should be the trend into the future with her current investments.

(BTW, She could also qualify for a BCBS Plan F Select for $203/mo and Plan N select for $142/mo annually but I left this out of the discussion as she seems to like the savings with a high ded plan.)


I would appreciate any views to the contrary. I have read the other threads on the site regarding this but wanted to be more specific in this particular circumstance.

I’d like to help her save money but we all realize she is only getting older and may require more care eventually. But the savings seem to be significant enough for this to be a worthwhile choice and not much of a gamble.

Thanks

Personally, I'd never sell the HD plan F unless they insisted. How long has she had A-Fib and how long since she's been treated for it or had her meds changed for it. How long has she had her Pacemaker?

Also, what meds is she taking?

 

[WCMason]

If you do the math, it's rare that anything other than HiF makes sense. However, most seniors are afraid to take that risk and most agents would be broke is that's all they sold. I tend to like Plan N because she won't be hit with $1,800+ if she is hospitalized. This was the subject of at least one webinar we've done at Medicare Training 101. Our members have access to the live webinars as well as archives. Rick

Why $1800?
.......,.

 

[MedSupMan]

Thanks Rick and GoIllini52.

She was diagnosed with Afib 1 1/2 years ago and that was when she received the pacemaker shortly thereafter. Her meds have remained the same.

 

[goillini52]

Thanks Rick and GoIllini52.

She was diagnosed with Afib 1 1/2 years ago and that was when she received the pacemaker shortly thereafter. Her meds have remained the same.

Then it looks like it's between BCBS and AARP. Depending on which meds she takes..if it had been 3 years since she was diagnosed with A-Fib and since the Pacemaker had been implanted, CIGNA would take a look at her for a regular supplement. Plan F would run her $177.54 per month x 12 = $2,130.48 total for the year. I like that better than possibly $3,200 with a HD Plan F. If nothing changes in the next 1 1/2 years she might be able to do that.

 

[GreenSky]

Why $1800?
.......,.

Brain fart. $1,184 but likely over $2,000 when you add in doctor and other charges.

Maybe I should join medicare training 101!

Rick

 

[MedSupMan]

Thanks GoIllini52,

That may be a good option for her in the future.

Her meds are: Pradaxa, Metoprolol Succinate, Quinapril Htz and Setraline HCL.

----------

Rick,

You were close enough -- I figured you were talking about her $60 monthly co-insurance she would pay = $720 annually + the $1184 = about $1800 over and above her premium plus more.

These are the type of expenses that can easily begin adding up year after year for someone when their health turns south if they keep ticking and why I wanted some feedback -- especially given her age.

 

[goillini52]

Thanks GoIllini52,

Her meds are: Pradaxa, Metoprolol Succinate, Quinapril Htz and Setraline HCL.


None of those drugs are on CIGNA's knockout list...unless Quinapril and Quinidine are the same thing.

 

[MedSupMan]

Thanks for the info. Doing a quick search it doesn't appear Quinapril has any relation with Quinidine.