Do I need a Medicare Advantage Plan?

[jimcasada]

Maybe someone here can help me with this…..

Earlier this year, I turned 65 and signed up for both Medicare plans A & B (as required to keep my Tricare going). I am also still working for the Federal government and have APWU United Health (UHC) Care coverage for my whole family & me (planning to retire at the end of next year). When I turned 65, Tricare automatically change me from Tricare Prime to Tricare for Life, but I understand that the rest of my family stays on Tricare Prime until my wife turns 65 (10 years from now). My APWU UHC coverage costs me $357.81/mo (plan code 475), but I get most of that back after filing reimbursement claims on their Personal Care Account (PCA) and considering the fact that premiums tax free & reduce your reportable income come tax return time.

So lately, I have been bombarded with all these Medicare Advantage Plan ads in the mail & online, claiming that there is no added cost or premium to sign up. I have also been looking at the Medicare website, which seems to recommend that anyone signed up for A & B add such a plan. Currently the way my healthcare is set up, I usually never have to pay for any copays, deductibles, or other medical expenses, except for Tricare's $600/yr fee and APWU's $35/yr associate member dues. So, my question is there any reason for me to sign up for a Medicare Advantage Plan, even if it doesn't cost me anything? I'm not even sure if I should keep my APWU UHC plan going, now the Medicare has started charging me $445.50 every 3 months?

Thanks, Jim.

[BelieveGod]

I placed my fed insurance on hold so I will always have an opportunity to return and signed up for an Advantage plan. I have good health and pay no fees for insurance and the part I love is my free gym membership anywhere-even on vacation. There could come a time that it is the wrong choice but...

[jimcasada]

Which plan do you have? I see were our current APWU UHC also has a Medicare Advantage Plan, but I don't know how would work with my existing coverage and my dependents. I think the deadline to decide is Dec 2.

[Scarfinger]

I am not positive but i believe if you don't have a medicare "D" plan (prescriptions) for every year that you are eligible and don't have an alternative plan, like a medicare advantage plan that includes prescription you can be penalized 10% per year if you decide you need one and choose it later.

If you are covered by an employer plan because your still working, I don't think you are required to have a "D" type plan until you stop working.

I am not retired yet so I don't know all the specifics.

Good luck!

[jimcasada]

I already have plenty of drug coverage through APWU UHC, Tricare, & also VA. I never have to pay for anything, except maybe over-the-counter stuff (and Tricare covers some that too). Thanks, Jim.