Medicare is a Bargain!

Would you be interested in a service that you must absolutely have? As a matter-of-fact, almost everyone has it. It’s not free. You will have to pay, but let’s say you could get the same thing for 400% less than what most people pay. Would you be interested in a bargain like that? Most people would enthusiastically say ‘YES!’  You ask, ‘what is the bargain?’  Medicare.  Medicare is a bargain!

Medicare is a BargainEveryone needs health care because everyone gets sick and needs doctors, hospitals, drugs, treatment, etc. The average cost of a decent group health plan is going to be $1,000+ per month per person. If you go into the exchange to purchase an individual plan, you are looking at $500-$600 per month WITH a $2,500 deductible, and that is not including the maximum out of pocket.

You may say that you only pay $50 or a $100 per month for your health plan at work. That is because your employer is paying the majority of the cost. You are not getting it for free. You’re not even getting it for a reduced price. It still costs $1,000. Your employer is taking your compensation and applying a portion to your health insurance instead of paying the money to you. It’s your money, your compensation. You are not given a choice on how to receive it. That employer portion is just part of your total compensation. And it is still part of your employer’s total expense for an employee.

You might complain that now I have to pay the full cost of health care myself. Yes, your employer is not paying for your health care because you are not working any longer. Your employer is also not paying you a salary any longer. When you go to the grocery store, you can’t use your salary to pay for the groceries. You have to use your Social Security check, savings, investments, IRA’s, etc. Your source of earned income stopped when you retired, which includes your employer subsidy for your health insurance.

The realization of the true costs of services, like health care, doesn’t diminish the fact that Medicare is a bargain!

Medicare is a BargainWhat does Medicare cost? For most people, you paid for Medicare Part A during the working years, so there is no charge. Medicare Part A covers the hospital. Medicare Part B is for doctor and outpatient procedures and that is generally $104.90 per month currently. With a Medicare supplement—let’s say a plan F—you will pay around $100-$140 when you turn 65 depending on male or female and location (Omaha, Lincoln, Council Bluffs). Add in a Part D prescription drug plan. It is possible to come in around $250 per month in total for your Medicare health coverage. With a plan F, there will be no deductibles, co-pays, or co-insurance. Incredible Cadillac health insurance for approximately $250 per month. Much better than a group plan or an individual plan on the ACA (Affordable Care Act) exchange that costs $1,000+ per month which also includes deductibles, co-pays, and co-insurance.

Medicare is a bargain! Medicare is something that you should be excited to become a part of when you turn 65. I am 53 as of the writing of this blog. I purchase my own insurance on the exchange as a self-employed individual. I would happily pay triple what Medicare beneficiaries pay for that same coverage, and it would still be a bargain for me.

What Our Clients Are Saying About Omaha Insurance Solutions

Joe & Myra R.

What an adventure! We started getting ourselves educated about Medicare insurance coverage several years ago – a bit too early, given how things change every year! While we had a foundational knowledge of the basics, it was helpful to work with Chris to fine tune all the nuances and make sure we were enrolling in the plan that best met our needs. Fingers crossed that our retirement and future insurance needs do not present any unwelcomed “surprises”. If that’s the case, we’ll be setting up time with Chris to help us through it!

Lisa G

Thank you Christopher!
You made the whole process of choosing a Medicare supplement easy and less confusing.
I appreciate your knowledge and professionalism. You are a great asset to all of us “young at heart” clients!
I will give your name and number to my eligible Medicare friends.
Thanks again,

Cheryl A.

After I acknowledged that I was nearing Medicare age, I realized I knew nothing about it so I reached out to two very informed friends. They both recommended Chris Grimmond. They praised his knowledge and helpfulness so I gave him a call. After meeting with Chris, I was 100% convinced that we would be working together. He answered all my questions and helped me understand the Medicare system. I feel confident I made the right decision to work with Chris and his team at Omaha Insurance Solutions.