Delaying Medigap

[telemark]

My Part B coverage starts this September. I've already applied for Part D, and it appears that my open enrollment period for parts G or N extends for six months after September, so into February 2025. It occurs to me that this is more than enough time to see what the 2025 plans will look like, and since there might be substantial changes from this year, I'm thinking of waiting until then to sign up. I don't have any expensive procedures scheduled and my existing problems seem well enough under control.

Any thoughts? Is this a bad idea?

[tallguy3891]

My Part B coverage starts this September. I've already applied for Part D, and it appears that my open enrollment period for parts G or N extends for six months after September, so into February 2025. It occurs to me that this is more than enough time to see what the 2025 plans will look like, and since there might be substantial changes from this year, I'm thinking of waiting until then to sign up. I don't have any expensive procedures scheduled and my existing problems seem well enough under control.

Any thoughts? Is this a bad idea?

Assuming you have no other insurance other than Medicare Parts A and B during that time, wouldn't this mean possibly risking 20% out of pocket of an unlimited amount of medical bills during those 6 months if something happened? I personally for myself would consider it too big of a risk just to save 6 months of Medigap premiums. I don't have Medigap, but I don't see why plans would change for 2025--aren't they fairly stable coverage? The prices could change--higher? Wouldn't that mean it is better to get a lower starting rate now? Others who are on Medigap could maybe comment better on these aspects.

[Retired in CA]

Changes to Medigap policies are rare. The last change was the elimination of Plan F, which occurred some years ago. Any changes scheduled for 2025 will already have been announced. As far as I am aware, no change has been announced. I would buy as soon as possible to make sure you have the coverage you want in case of an unanticipated major medical event.

[wwhan]

I see no benefit to delaying the Medigap signup. As has been stated, if one has traditional Medicare and no Medigap insurance, then they are on the hook for the 20% deductable that Medicare does not pay.

I don't expect big cost changes in Medigap policies for 2025.

I do expect bigger changes in cost for Medicare Advantage (Part C), which is going through cost readjustmentsz: https://www.medicarerights.org/medicare ... se-in-2025

CVS: https://www.statnews.com/2024/05/14/cvs ... -benefits/

One should not run out the 6 month clock, since late signup could limit eligibility: https://www.medicare.gov/health-drug-pl ... gap/basics

"You get a 6 month “Medigap Open Enrollment” period, which starts the first month you have Medicare Part B and you’re 65 or older. During this time, you can enroll in any Medigap policy and the insurance company can’t deny you coverage due to pre-existing health problems. After this period, you may not be able to buy a Medigap policy, or it may cost more. Your Medigap Open Enrollment Period is a one-time enrollment. It doesn’t repeat every year, like the Medicare Open Enrollment Period. "

[MJS]

Consider doing a 6-12 month Medicare Advantage trial -- https://www.humana.com/medicare/medicar ... ial-period

During this first year you can switch between Medicare Advantage and Medicare Supplement without medical underwriting. A cheap, or even free, MA plan would be better than just Medicare.

[cashmoney]

My Part B coverage starts this September. I've already applied for Part D, and it appears that my open enrollment period for parts G or N extends for six months after September, so into February 2025. It occurs to me that this is more than enough time to see what the 2025 plans will look like, and since there might be substantial changes from this year, I'm thinking of waiting until then to sign up. I don't have any expensive procedures scheduled and my existing problems seem well enough under control.

Any thoughts? Is this a bad idea?

Seeing what the Medigap plans will be in 2025 is not a thing like it is with Part C and D.The only thing that changes for medigaps is the rates and insurance carriers that offer medigap have rate adjustments at different times of the year.For example the biggest medigap carrier UHC has their rate adjustments' on june 1 in many states.

There will absolutely be big changes in part D in 2025 both in premiums and fewer plans available so most likely you will be changing that for 2025.Part C plans will be changing for the worse as well but not as much as first expected.The biggest pattern is plans will have high rx deductibles for tier 3 ,somewhat higher medical copays , some of the big carriers are completely dropping dental as well as reducing other " extra benefits" and there will also be a reduction in plans being offered.

Also you could start with plan n and switch to a plan g with no underwriting as long as you do both applications within the 6 month or like others have said find a part c plan you can live with for 12 month and use your trial period to get GI med supp in the first 12 months.One caveat there is you may want to wait until after oct 1 when 2025 benefits are available to choose plan because the 12 month trial period only applies if you have only been on just one part C plan.

[EagleI]

I have a related question – I have been delaying Medicare as I have been on my wife’s health insurance since turning 65. Now my wife will be retiring and I have applied for and started Medicare Part A and B as of September 1. I also will be signing up for Part D, as I understand that this needs to be done within 2 months of starting Part B (it’s possible that this could be extended with the current creditable insurance I have, but I don’t want to risk that). I thought she was going to retire on September 30, but now she may wait until the end of the year.
My question is, should I wait to start Medigap insurance until January or start it now (October 1)? As I understand it, if I stay on my wife’s insurance through the end of the year, Medicare will be secondary. This would be fine although the employer insurance is a high deductible plan and I will be paying the deductible on a number of appointments I have through the end of the year. More of a concern is if I have any health issues, in which case I could be paying quite a bit in the way of deductibles.
On the other hand, if I start Medigap Plan G on October 1, I will only be on the hook for the Medicare deductible of $240. But I will be paying the Medigap Plan G premiums of about $550 through the end of the year. Any thoughts on this or pros and cons I haven’t thought of?

[montanagirl]

Consider doing a 6-12 month Medicare Advantage trial -- https://www.humana.com/medicare/medicar ... ial-period

During this first year you can switch between Medicare Advantage and Medicare Supplement without medical underwriting. A cheap, or even free, MA plan would be better than just Medicare.

I did this my first year. 33/mo while I half-heartedly looked for a job and researched medigap companies, then switched to Plan F starting the following year.

[dodecahedron]

My Part B coverage starts this September. I've already applied for Part D, and it appears that my open enrollment period for parts G or N extends for six months after September, so into February 2025. It occurs to me that this is more than enough time to see what the 2025 plans will look like, and since there might be substantial changes from this year, I'm thinking of waiting until then to sign up. I don't have any expensive procedures scheduled and my existing problems seem well enough under control.

Any thoughts? Is this a bad idea?

You haven’t mentioned what state you live in. In a few states (like mine, NY, but there are a few others), you are not locked into the first Medigap plan you choose. If you live in NY, you have a guaranteed option to switch Medigap plans anytime, without underwriting. So no reason to go uncovered just to gather more info. In a few other states you have similar flexibility but it might be a once a year open enrollment without unwriting option, often on your birthday. So let us know your state before you assume you are locked into the first Medigap you enroll in.

[telemark]

You havent mentioned what state you live in. In a few states (like mine, NY, but there are a few others), you are not locked into the first Medigap plan you choose. If you live in NY, you have a guaranteed option to switch Medigap plans anytime, without underwriting. So no reason to go uncovered just to gather more info. In a few other states you have similar flexibility but it might be a once a year open enrollment without unwriting option, often on your birthday. So let us know your state before you assume you are locked into the first Medigap you enroll in.

No such protections in Utah, alas. And I have not one but two heart conditions so I doubt my ability to pass underwriting. Whatever company I choose is likely to be the one I'm stuck with for the rest of my life. I'm aware of the trial period for Part C Medicare but would rather keep that in reserve as a one-time get out of jail card.

And a belated thank you to everyone who replied. It's been helpful and I appreciate it. I'm just slightly whelmed with information right now.

[cashmoney]

I have a related question – I have been delaying Medicare as I have been on my wife’s health insurance since turning 65. Now my wife will be retiring and I have applied for and started Medicare Part A and B as of September 1. I also will be signing up for Part D, as I understand that this needs to be done within 2 months of starting Part B (it’s possible that this could be extended with the current creditable insurance I have, but I don’t want to risk that). I thought she was going to retire on September 30, but now she may wait until the end of the year.
My question is, should I wait to start Medigap insurance until January or start it now (October 1)? As I understand it, if I stay on my wife’s insurance through the end of the year, Medicare will be secondary. This would be fine although the employer insurance is a high deductible plan and I will be paying the deductible on a number of appointments I have through the end of the year. More of a concern is if I have any health issues, in which case I could be paying quite a bit in the way of deductibles.
On the other hand, if I start Medigap Plan G on October 1, I will only be on the hook for the Medicare deductible of $240. But I will be paying the Medigap Plan G premiums of about $550 through the end of the year. Any thoughts on this or pros and cons I haven’t thought of?

Depends on how much your share of wife employer plan premiums are for one.If you have just medicare a and b a primary doctor visit on average is about 90.00 and specialist may be between 100-200.00 so compare that with what you have to pay at commercial insurance rates which usually 2x to 3x as much for the same services compared to medicare rates.Also you have a six month window to get guarantee issue which can be used more than one time in the 6 month window so you could get hi G for balance of 2024 then switch to G for 2025 no questions asked.You didn't say how old you were but one thing to consider is the age band you start the med supp of your choice so for example if you are 65 now but will be 66 in January it may be beneficial to lock in the age 65 age band however how this varies by state and insurance carriers.

As far as the part D you also have a special enrollment period that extends 63 days from when creditable drug coverage from employer was dropped that you can enroll and not be penalized

[CrossOverGuy]

You'd certainly want to be covered, so consider the advice already given above, in case anything major happened to you medically. But after you're covered, with a Medigap plan you might want to possibly hold off and schedule some medical appointments from September until January, if possible, since January would be the start of a new year for at least the Part B deductible. Although the $240 might not be a problem for you.

You might also consider calling Utah's SHIP program and/or using a reputable insurance agent to see if they have information as to which insurance companies offering Medigap in your area regarding their history of increases for the G and N plans, the companies' ratings, patient satisfaction with the plans, etc.