Saturday, March 18, 2023

Oh Goody Medicare Time!

Our finances are going to be changing next month as Hubs turns 65 and goes on Medicare.

The good thing is our monthly health insurance premium gets cut in half as I am the only one who will be covered under that policy so it will be a $1061.00 outlay instead of $2270.99 per month(that's over $27K per year to just have medical coverage....using it is even more $$$).  Hubs Medicare will cost $164.90 for Part B and $94.11 for the supplement he chose so his part goes from $1061.00 to $258.90.

That $2270.99 healthcare premium includes vision for Hubs and dental care for both of us.  The dental care goes away when Hubs turn 65 in April.  He can get dental as there are plans for 65+ year olds but I am SOOL until next year when I turn 65 unless I can find a policy that isn't ridiculously expensive to cover me for 8 months.  So  I am getting everything taken care of before April ends.  I'll probably need a cleaning come Fall and our dentist charges under $100 if you have to pay cash and don't have coverage so I'll be vigilant about flossing and brushing from now on(as we all should be). ;-)  And hoping nothing bad/expensive pops up before January 2024.

$2270.99 in healthcare premiums in 2023 versus $1320.01 starting next month, a savings of $950.98 monthly.

But along with this good news, there is not so good news...Hubs monthly  annuity payment goes down.  His annuity was front loaded, meaning we received larger payments until he hit 65 yr. old(sort of to offset what we had to pay out of pocket in healthcare premiums), then the monthly payment goes down by $553.96 per month.  Between the two changes(healthcare payments going down and annuity payments going down)we are in more the black by almost $400 per month still so it's not all bad news.

It might take a few months to see where the budget lands as all this changes.

Then in the Fall(October or so)I get to do the Medicare supplement decision dance.  I can't wait.**see Sluggy roll her eyes.



  1. Maybe Physician's Mutual will work for you. I have it. It has been worth the small cost.

  2. Oh wow, that is an amazing price for Medicare. I go on it in a couple of years and, as near as I can tell, part A(free) B, D ( prescriptions) and G, will cost me about $500 a month. Ugh. It varies so much by state and by prescriptions/plans needed. I wish it were uniform across the whole U.S. $400 a month savings is fantastic!!!!Cindy in the South

  3. Oh, I can't wait to do this dance...NOT...

  4. I went 4 years without dental. Fortunately my dentist was very helpful and I was proactive. He had warned me twice about different $$$ problems before he thought we absolutely had to work on them. I was able to save the money and both times they gave me 10% off the Cash price for paying upfront. What is Cash price? The price they set for people paying cash and not insurance. One was a Root Canal/Crown situation and this saved $220. The second was during Covid and I ended up paying half. Having cash changed that up too.

  5. Our dentist gives 5% discount for everything if you pay in cash. If they see something that is going to need fix, they give a cost statement for you to pay upfront. It's good for 6 months. Hubby goes on Medicare in Oct. Leary of that dance as several that worked with him complain how horrible the coverage is... you get what you pay for is usually our answer.

  6. If anyone has the knack and wit to make it worth it is you.

  7. The healthcare system in this country is so broken. That monthly outlay was outrageous!

  8. I pay way more for just my Medicare and the supplemental but I retired out of a government state system and was able to keep the state retirement plan and if I ever go off can’t get back on. Several other retiree friends have ditched and go search the market each year and do save (especially premiums) but not sure if anything big happened how cost effective it would be. I just like peace of mind and easy. But I spend over 700 a month. Jre (plus I could keep my separate Delta Dental plan about 45 a month. Yeah! I have terrible teeth!)


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