Considering part B (health insurance) will be 185 per month in 2025, it's an 80% coverage. You have to come up with the other 20% regardless of how much that may be. So say, a $40K surgery gets covered at $32K, and I have to come up with the other $8K. UNLESS I buy Medi-gap insurance. It covers the 20% that Medicare doesn't. Plans vary, as for coverage and premium costs, but you can probably bet on 1500 per year for the kitchen-sink plan G. Covers everything but the $240 per year deductible. Plus a plan D drug coverage. For the crap I have to take with premiums and all, that's another 1500 for the premiums plus drugs.
All in all the estimation is about $5,220 per year out of pocket for the coverage. The 185 per month is automatically deducted from my social security check. BUT- my retirement plan has a $2508 per year HRA stipend I get to use for covering medical expenses and/or premiums and you can set that up for automatic reimbursement for premiums. It goes up each year a certain percentage. So that slices it down to 2642 annually out of pocket for medical coverage and prescriptions. Breaks down to $246 per month out of pocket including the 240 deductible. Considering we are paying almost twice that for pre-65 coverage on the premiums alone. That's before paying deductibles, co-payments and drug costs.
Selecting the optional coverages and plans are the real mother. It's a lot of calculations to go through. Medicare.gov website has a lot of good info on it. And with the way doctors and hospitals around here are poo poo-ing on the Part C Advantage plans, it's probably best to maintain the original Medicare coverage.
I've done a lot of research on this crap, so although not an expert, I'm pretty comfortable on the subject. So if you were wondering and had questions, fire away.
