Medicare School Daily
The team at MedicareSchool.com led by Marvin Musick answers REAL Medicare questions from our callers, and help bring clarity to the VERY confusing Medicare System.
Medicare School Daily
How People Get The Same Medicare Coverage For $80 Less
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Same Medicare coverage. Lower premium.
How does that happen?
Today on the Medicare Daily Show, we’re talking about how some people are able to get the same Medicare coverage for $80 less, and what you need to understand before assuming you’re stuck with your current rate.
We’ll be taking your calls live and helping bring clarity to your Medicare, Social Security, or retirement questions. See you there!
If you've ever talked to any of your friends or neighbors or coworkers and they have said that they're on the same or very similar coverage to you and they are paying less, maybe $50, $75, $100 less for the same coverage, you may be scratching your head wondering how that happens and what you can do about it, if anything. Today we're gonna talk through how your neighbor may be paying a lesser amount for the same coverage and how you can switch, how you can know if you can get that same coverage deal. My name is Josh Music. I'm here in the studio with one of our uh guides, our agents from MedicareSchool.com on our team. Justin's been with us for several years now, and he's a delight to be with, a joy if you get the opportunity to work with him. He's truly a Medicare expert, and you can call in and talk to him, and he will walk you through your situation. Make sure you have coverage that is great for a great cost that works for your situation long term. So I encourage you to do that. So welcome to Medicare School Daily. If you're just starting Medicare, maybe you're starting Social Security student, you're a retiring student, you have a question about your specific situation, and you want to talk to somebody who's not trying to sell you anything, encourage you to call in every day, Monday to Thursday, 11 a.m. to noon central time, 833-824-2004, 833-824-2004. You can get all your Medicare, Social Security, and retirement questions answered right here. If you need help with your personal situation and you want to talk to someone uh who can help you enroll in A and B, compare advantage plans and supplement plans, compare what drug plan uh is the right choice for your drugs, and what coverage out here takes your doctors, you can call in and get help by someone like Justin on our team. The phone number for our office to talk with someone live or schedule an appointment for the future is 800-782-6676. 800-782-6676. Call in. You'll talk to someone in Kansas City. You're not going to be shipped off to the other side of the world trying to understand your benefits from somebody who doesn't speak your language. So call in. 800 782 6676. Justin, tell us how people can save $50, $75, $100 a month on their by getting the same coverage as what their neighbor may have.
SPEAKER_00Oh, well, this is something I help people with all day long. Um in fact, uh several of my clients recently saved more than $80 by making a switch to their secondary in insurance. They're on Medicare, paying 80% of their bills, they're on a supplement covering the other 20% of their bills. And what they didn't realize is that that supplement plan, usually a plan G, is available from about 20 different health insurance carriers across the country. Your neighbor has a different plan, or your sister has a different plan from a different carrier, maybe same plan, different carrier. And so if you can pass some medical underwriting questions, you can save 80, 90, even $100. Today I think the number was 76 already.
SPEAKER_02So is that is that available for everyone?
SPEAKER_00Medicare supplement plan is available for anyone. Okay. Uh people who are going on to Medicare for the first time get a special open enrollment window this six-month period when anybody can qualify to get this great coverage from any carrier that sells it in their state. Um but oftentimes they'll start with one carrier and over time the price will go up and it's switching to a different carrier later on that's going to require the medical underwriting. Not everybody can do that.
SPEAKER_02Okay. So how does that what are these questions? So if somebody's if you're if you're sitting talking to your neighbor, find out you have the same plan G, where you have the same plan N, and there's $50, $75, $100 difference, and they want to switch, what's the process? How does that work?
SPEAKER_00Aaron Ross Powell Well, make an appointment with us here at Medicare School for the guidance. We'll want to make sure we're getting a good quality carrier that has reasonably stable rate history. But um We're gonna fill out the application with you on the phone and we're gonna ask you every one of these questions. They'll range from heart problems to lung problems to kidney problems, spinal stenosis, rheumatoid arthritis, diabetes with almost anything else. These are things that can prevent a person from being able to say stroke. Certainly cancer, heart attack, and stroke. Think if it makes it difficult for you to buy life insurance, it'll make it difficult for you to qualify for a different Medicare supplement plan to save that money.
SPEAKER_02If somebody had a cancer or they had a heart issue in the past, is it just one-time knockout, or how does that work?
SPEAKER_00Many times it's forever if you're still being treated on an ongoing basis by some sort of a blood thinner after a cardiac event, or if you're still on a cancer treatment medication years later. Normally you have to be free from the illness and free from any treatment for at least two years. Many carriers want more like three to five years.
SPEAKER_02Aaron Powell Okay. That's good. So easy to get quotes. Let's let's so let's talk about what if you're on a plan G with one carrier? Um, and we've got I think some calls lined up for today from folks who are in this exact situation. But maybe walk us through if you're on a plan G with one carrier and then you've got uh another another carrier that's offering, how do you how do you compare those two?
SPEAKER_00Well, luckily these plans are standardized by the government. So you know that if what you have is a plan G and what they're offering is a plan G, there's not a lot to compare except the monthly premium. All right. Plan G covers five out of the six gaps in original Medicare, and you can get that same gallon of gas from any gas station in the city. What you want is the lowest price per gallon.
SPEAKER_02I never thought about that. Yeah. Another way that people we see people save money is by going from G to N. Would you walk us through that?
SPEAKER_00Yes. Well, Plan G and Plan N are very similar coverages. Uh they're all secondary to Medicare, so you enjoy nationwide coverage, no referrals, no pre-authorizations. You get that from original Medicare, covering 80% of your bills after a $283 deductible. Plan G just covers all of the other gaps that come after that, meaning that $283 deductible is your max out-of-pocket all year long. Plan N is just maybe half a trim level down from that Cadillac. Still the Cadillac, still nationwide, but after the deductible's been met, you're paying $20 doctor copies. Primary specialist doesn't matter. If it's an office visit, it's a $20 copay. And if you have an emergency room visit that does not result in a hospitalization, that's going to be a $50 copay. Those two copies are basically the only difference that most people ever experience between a plan G and a plan N. Although there is something called excess charges. They don't come up with all that moth all that much. But uh if you do have a plan N, you are exposed to excess charges, and we'd want to talk to you about that before you make the choice.
SPEAKER_02What is an excess charge?
SPEAKER_00Excess charge is charged by about 3% of the nation's physicians. These are doctors who've decided that original Medicare does not pay them enough to do their job, and they want to make 15% more than that by billing their patients directly. These are called excess charges. And they're allowed in 42 states. But you can look up the doctor ahead of time and see if they're going to ding you for the 15%. It's pretty easy to avoid, pretty rare to begin with. No, I think in 10 years I've had four of my clients call me back and say it happened to them.
SPEAKER_02Yeah, just very, very rare. Okay, let's get to some callers. Got some people today that are in this situation. Okay, let's talk to Jim in Pennsylvania. Jim, welcome to Medicare School Daily. What questions do you have for us?
SPEAKER_04Well, I'm contemplating I have a G plan and I'm contemplating if I need to change to an N plan. I heard it does different things. It's cheaper.
SPEAKER_00It is just a little bit different, Jim. Not terribly different, uh, but it is less expensive. Uh which carrier do you have for your plan G right now?
SPEAKER_04A A R P.
SPEAKER_00A R P. Good choice.
SPEAKER_04Well, I don't know if it's a good choice. It's more, it's really expensive. $2.95 a month.
SPEAKER_00Well.
SPEAKER_02They're a good carrier, though. Let's let's we'll we'll look at some other stuff for you, real quick, here.
SPEAKER_00How'd you learn about the plan N there, Jim? Were you watching Marvin's videos on YouTube or what was it? Nope.
SPEAKER_04I don't know. I don't know. I read a lot of stuff.
SPEAKER_00Okay, good. And so what you're calling is to to ask what are the differences between the coverage that you do have with a plan G and what you would have with a plan N, is that right?
SPEAKER_04Yeah, and whether I should change or not. Ah.
SPEAKER_00Okay. Well, I'll be happy to talk to you about it. Um both plan G and Plan N are both Medicare supplement plans, which means they're secondary to Medicare. So changing from a G to an N doesn't really change any of the fundamental things about the coverage you enjoy. You'll still be able to go to any hospital or doctor in the country that accepts Medicare. Still enjoy no referrals or pre-authorizations. Um it's just that right now with your plan G, the only gap in original Medicare that you pay yourself is the Medicare Part B deductible. You probably see a bill during the first part of the year. It's about $283 right now. Uh that deductible is $295. Um Well, you're paying a premium of $295 per month, but your medical deductible is $283 per calendar year.
SPEAKER_04Okay, hold on, let me write this down. Sure, I can write this down.
SPEAKER_00Yeah, good stuff. Your annual medical deductible is $283 per year. Now you you pay these monthly premiums every month, but when you go to the doctor, when you go to the hospital, you receive medical care, you should get one bill per year, or maybe a couple of smaller bills that add up to not more than $283. That sound familiar?
SPEAKER_04I don't know. Everything comes out automatic, so I don't really check stuff. So if the annual deduction is two hundred eighty-three, then what is the two ninety-five?
SPEAKER_00That's what we call your monthly premium. And that's the premium for your supplement plan G with United Healthcare AARP. You're also paying a monthly premium to be on original Medicare. Medicare Part B should be costing you about $202.90. If you're drawing Social Security, it's coming right out of your benefit check. Otherwise, you're probably set up on bank draft. And so you're paying $20290 for Medicare Part B, and that's covering 80% of your medical expenses after the $283 deductible. You'd have the same deductible if we switched you over to a PLIN N, uh, but after that deductible, you'd have a little bit more out of pocket that you don't currently have. Jim, right now that $283 deductible is your only out of pocket all year long, which makes it your max out of pocket medically. That's pretty powerful, but you're paying $295 a month for it. And maybe you feel like you're not going to the doctor often enough to justify insurance that's expensive. Did some people go to the doctor? You're not going to the doctor all that much. Right.
SPEAKER_04All right. Well, then that's the plan G that you gave me. So what's the annual deductible for plan N?
SPEAKER_00It's the same. You have the same annual medical deductible under the plan N. You'd still get the same bill or bills early in the year or whenever it is that you seek medical care. But it's it's what comes after that. It's what comes after that, Jim, that's different. That's right. Every doctor's office consultation would carry a $20 copay, whether that's primary, specialist, any doctor, doesn't matter. But expect to pay a $20 copay for an office consultation. And you can also expect a $50 copay for any emergency room visit that does not result in a hospitalization. These two copayes are really the only differences between plan G and plan N that most people ever experience.
SPEAKER_04I thought that plan G, uh I there's no, let's see. Plan N, they add on the deductible each month. Plan G, I pay it to begin with. So it it sounds like it's the exact same thing. This is this doesn't make sense to me. Yes. What is the monthly premium for plan N?
SPEAKER_02Yeah, so I I've got those pulled up. The other thing I was gonna mention, so the the the plan N is oftentimes a better idea for people in Pennsylvania because there's one other difference between G and N, and that is this thing called an excess charge. And an excess charge is where a doctor says, hey, Medicare, whatever you're gonna pay me, I don't accept that as payment in full. I'm gonna charge the patient a little bit more. And that little bit more can legally be up to 15% more. The deal is in Pennsylvania, that's not legal. So a lot of people go with a plan in in Pennsylvania because that's not even legal in Pennsylvania. Okay, but they still charge it. But the doctors still charge it. No, not in Pennsylvania. Now, if you go across the state line to Indiana or something, maybe that's where you've heard of that. But if you stay in Pennsylvania, they can't charge 15% more.
SPEAKER_00They can only charge you the $20 copay.
SPEAKER_02Yep. What about Ohio? Uh Ohio, yeah. I meant I I meant Ohio when I said Indiana, because I know that's the neighboring. Ohio, they they can charge in excess. But here's the deal less than 3% of the time, this is an issue. It's not a big deal, generally speaking.
SPEAKER_04Okay, wait, I want to I want to clarify this now. They can charge 15% more. Yep. But it's not illegal. So if the doctor says I want to charge you more, what happens? Can I just say that's illegal, you can't do it?
SPEAKER_02No, yeah, yeah. Because the doctor, uh yeah, exactly right. Yeah. If they are going to bill Medicare in Pennsylvania, they are required to accept what's called Medicare assignment. And Medicare assignment means we're gonna accept what's payment in full. Whatever Medicare wants to pay is payment in full. They can't charge you extra.
SPEAKER_04But what if there's a doctor? I don't know if you pay ahead of time before your appointment or what? If you say, Well, I'm not gonna give you 15% because it's illegal, they can say, Well, there's the door, right?
SPEAKER_02Yeah, it's just not gonna happen in Pennsylvania, is my point. Like, no, the doctors don't do it because they can't.
SPEAKER_04Okay, so what is the advantage of okay, for okay, my you didn't answer my question. Monthly premium for N.
SPEAKER_02So I'm gonna give you a little, you got your pen and your paper? I'm ready. Okay, I'm gonna give you a little grid. Okay. So a if you were gonna keep the same coverage, a plan G, okay, so same identical coverage, okay, but choose switch to a different insurance carrier. I'm gonna quote you Cigna. Okay, you've all we've all heard of Cygna. Their plan G rate is $76 cheaper per month. It's $219. Okay, so you would save $76 a month to have the same coverage, $912 a year.
SPEAKER_04Okay, see what's confusing is I asked you earlier, and you said it's the exact same thing. It is $283, $283. It so it is. The monthly premium.
SPEAKER_02The monthly premium is different. So this is what's coming out of your check every month. The $283 is an annual deductible. And a deductible is what you pay, your financial responsibility before the plan kicks in and starts paying. You know how this works for car insurance.
SPEAKER_04Hold on, hold on, hold on, hold on. The monthly premium is what's less, $219.
SPEAKER_02And then um I'm still paying plan B 202. You're still paying to plan B 202. So you're just saying you're saving $76, same coverage, going with a different insurance carrier. With N. No, that's with a plan G. If you want to go to a plan N, which I think is a great idea. Oh, I see what you're saying. Okay, so you're you're moving later, yeah. You're moving laterally to a different insurance carrier with the same coverage because a plan G is a plan G is a plan G. It doesn't matter what carrier you get it from, they have the same benefits. They're standardized by federal Medicare. So the engine why are the prices different? Well, why is the price different if you go to GEICO, Progressive, or Allstate? They just have different prices.
SPEAKER_04Okay, so it's 76 less with Cigna. What's that called? Signa what?
SPEAKER_02Cigna Health Spring. It's just a Cigna Plan G.
SPEAKER_04Okay, so there's $76 there. Everything else is the same. Yes, I can go doctors. I travel a lot in country, so everything is the same. I could go to any place.
SPEAKER_02No network differences because Medicare doesn't have a Medicare supplement planes don't have a network. Okay. The only, the only difference, and there actually is one, is that your United Healthcare may have like free gym membership things. And I don't know if I do have that. Does Cigna have that? Cygna will not have that. United Healthcare sometimes charges a little bit more for that. Now, is it worth $76? I don't know. It may be for you.
SPEAKER_04Okay. So you gave me the ifs of plan G. Yep. Um what about plan N?
SPEAKER_02Plan N. Are you ready? This is $161. So you're gonna save $134. Okay, you gave me the number, but you didn't say what it's for. $161 for plan N. I know.
SPEAKER_04What is that? Is that the annual deduction?
SPEAKER_02Nope. This is we're only we're only talking about the monthly premium. Monthly premium. Yeah, so instead of $295 monthly premium, it'd be $161, which is $134 of savings, or if you annualize that times 12 months, $1,742. So if I were in your if I were in your shoes, it would take a long time of $20 doctor copace to get to $1,742.
SPEAKER_04I mean, I don't even see a doctor once a month, you know what I'm saying? Yeah, exactly. So, okay, so that's plan N, and that is the monthly premium. What is the annual deductible?
SPEAKER_00Same. 283. Same as the plan G.
SPEAKER_02283 a month, right? Or no, that's a year. Calendar year, yes, sir. January 1st to December 31st.
SPEAKER_04Okay. And the only difference is you're gonna pay plus. I wrote this down, really. I thought we were going plan G and then plan N, but it was a different plan G. So this one is the one with $20 for visits.
SPEAKER_00Yes.
SPEAKER_04Yes. $50 with emergency. Okay, what else involved with N?
SPEAKER_00Those are the only differences, Jim. The two copays, 20 and 50, and the possibility, however remote it is, of excess charges. Outside of PA. Those are possible. You travel a lot, you might go to another state, you might experience an emergency, you might be hospitalized, and some of those doctors walking in and out of the hospital room could charge excess charges. Uh but for the savings, I think that um Yeah.
SPEAKER_02The excess charge, I mean, it's less than I think it's like three, four percent of the time.
SPEAKER_00It's very few doctors do this.
SPEAKER_04Uh what is the states that don't allow this to happen?
SPEAKER_00There are eight states. And let's see. What are they? Well, from memory, uh New York, PA, Massachusetts, Connecticut. I feel like Ohio is one of them, but I might be wrong. Oh, you're right.
SPEAKER_02Eight states. Yeah, Ohio does not allow you to have an access. So you're good on Ohio. So it's Connecticut, Massachusetts, Minnesota, New York, Ohio, Pennsylvania, Rhode Island, and Vermont. So it's mostly up your direction. You know that Northeast. Toss in Minnesota.
SPEAKER_00Now, if you like the idea of this, Jim, and I I I like the sound of it myself, being able to switch from your plan G to a plan N is likely to require you to undergo medical underwriting. I know you don't go to the doctor very much, and so that might be easy for you, but whatever carrier you want to switch to is going to ask you about 30 health questions, and you'll have to be able to answer those in the negative to be able to even make this switch. So and then of course switching back again or even in the lateral switch from a G with United Healthcare to a G with Cignet would require this underwriting. So if you're healthy enough to do that, uh I'd jump on the ball.
SPEAKER_04Well, are are do you ask the questions?
SPEAKER_02Yeah. We yeah, we probably can't ask them on this. We're on a kind of a daily show, but Justin, we can follow up with you here in what 20 minutes, probably. Okay. All right, thanks. Bye-bye. Okay, let's talk to Barbara in Texas. Barbara, welcome to Medicare School Daily. What questions do you have for us?
SPEAKER_01Okay, my question is this I'm calling on behalf of my sister-in-law, who was a retired nurse, and um lived in the United States for a number of years, um, was collecting Medicare, and she met my brother and moved to Canada, dropped her Medicare, and she's been covered by Medicare in Canada, not Medicare, but she's been covered by medical insurance in Canada since that time. And now she uh is thinking about moving back to the U.S. If she moves back to the US, will she be able to pick up her Medicare again uh since she had stopped paying when she went to Canada?
SPEAKER_02The coverage that she had in Canada, what was the nature of that?
SPEAKER_01Was that sponsored by an employer or the Canada the Canadian Medical is a socialized medica medical system? It's insurance for Canadian. And she also she was born in Canada, so she had that she was able to pick that up.
SPEAKER_00How long has she been in Canada?
SPEAKER_01Um since about um twenty twenty-one.
SPEAKER_02And how long when was she first eligible for Medicare? Do you know the issue?
SPEAKER_01Um, I think she would be eligible because when was she first?
SPEAKER_02I thought because I thought you mentioned she was on it and then dropped it. Maybe I heard incorrectly.
SPEAKER_01She was on Medicare. Okay. She was on Medicare. She met my brother, moved to Canada, and that was in 2021 when she did that.
SPEAKER_02Okay.
SPEAKER_01I don't know the number of years uh that she was on Medicare. I don't know that information.
SPEAKER_00Sure. That's all right. And your question is if she comes back to the United States to live permanently, will she be able to get on Medicare again?
SPEAKER_01That is my question.
SPEAKER_00Huh. Well the answer is yes. No question she'll be able to get back on Medicare. Question I think is really on the timing. If the Social Security agent that processes her Medicare Part B application considers the provincial Canadian insurance to be credible, then she'll be able to hop back on Medicare Part B with no problem immediately with no penalty. And then of course we'll help her get a supplement plan or something to go with it. But if Social Security doesn't consider that coverage to be credible, then she may have to wait until the general enrollment period to enroll in Medicare, which is the first quarter of the year, January, February, or March. And her coverage wouldn't start until the first of the following month. Uh maybe to be safe, she wants to time her move back to the U.S. so that it's around that time of year, so that either way she wouldn't have uh trouble getting back onto Medicare, time it for January, February, or March, maybe. Yeah.
SPEAKER_01Okay. Because because that is the only medical that Canadians have. It's a government medical insurance, if you will, call it insurance, but it's really a socialized medical system that all Canadians have that same in that same uh medical plan for their health.
SPEAKER_02So uh where where in Canada is she?
SPEAKER_01She's in Alberta.
SPEAKER_02Alberta, okay. We we just we've done some research on this. I think the thing that is like I can say is it's somewhat uh uh consistently inconsistent. So there will be some Social Security agents who probably know the drill, right? Particularly those that live somewhat the Social Security offices near the border. I think you're gonna find a little more leniency. So my suggestion would be maybe do some research on you know social security offices as near as Canada as possible because they're probably have have a little more experience and are a little more maybe than somebody in Texas. Like now it doesn't work. But generally speaking, we have heard, I think we've heard stories kind of swing both ways. Um but I would do it in the first quarter if she could move back around that time. Um that way. Uh-huh. Yeah. Just because then there's not going to be any question uh for sure. She'll be able to enroll. Now, hopefully she's able to do it without a penalty, too. So if she went five years without a penalty, there could be up to a 50% penalty on part B. So part B instead of costing $200, could cost $300. Um, but hopefully, hopefully the Social Security agent will kind of push it through without all that.
SPEAKER_01Well, I think that the question would be whether or not they accept the medical in Canada, correct?
SPEAKER_02Yeah, and I'm just telling you, we've had heard stories on both sides of that. So the safest thing would be do it during the first quarter, and I would say go to go to do some research on social security offices near the border that can that are a little more familiar with this. Uh right, okay. And then whenever she does move, she will have part B. She'll have a part B date. And my guess is at that point she will be able to have that six month period to get a new Medicare supplement plan without any health qualifying. Okay, so that'll be really important. Are you on are you on Medicare yet yourself?
SPEAKER_01Oh, yes, I am. I'm I'm with you. Okay. You've actually helped me with my last supplement plan. I switched to a new supplement plan through you just this past year. Oh, okay, awesome. I was taking it through underwriting and get that into uh supplement plan that was charging less.
SPEAKER_00And how much did you save, Barbara?
SPEAKER_01I'd have to go back and look. I didn't know I was it was good enough that I was happy with it.
SPEAKER_02Yeah, 100%. Any a dollar saved is a dollar earned, right? So that works. Um now, whenever she moves back, just to highlight that six-month thing, I don't know how her health is, but she will have, should have that once in a lifetime, which maybe is twice now because she's re-enrolling, that opportunity to get a Medicare supplement plan with no health questions. And then she'll need to get a drug plan too. So she can, you know, happy to call her office and we can walk her through all those options too. Okay? Yeah. Okay. Any other questions? Okay, take care. Bye-bye. Thanks. Thanks. Okay, let's talk to Gary in Colorado. Gary, welcome to Medicare School Daily. What questions do you have for us?
SPEAKER_03Easy question about turn 70 next uh spring. Okay. What kind of things should I do to maximize my social security benefits?
SPEAKER_02Are you on Social Security right now? I am not. Okay. So you're not, so to maximize your social now, when you say social security benefits, are you talking about Medicare or are you talking about uh like the actual check amount?
SPEAKER_03Just the actual check amount. Yeah, I I've never uh opted to take Social Security, but I'm turning 70, so I think I'm almost mandated to do it. So what are some things that I can do to make that uh optimal?
SPEAKER_02Yeah, so the first thing I would say is uh you d there's no point in delaying past your 70th birthday. You know, up until now, that account has been growing ever since your full retirement age. It's been growing at 8% per year. But once you hit 70, that's done. So don't delay it any longer. Okay. Right. For sure take it. You can start that application three months in advance-ish, and tell them you want your social security start on your on the month you turn 70, and I think that's great. Uh as far as other maximizations, I think he's done it by waiting until 70. I mean, you could maybe, you know, they the uh on the the amount that you get, they take the last 35 years of your earnings and the the highest 35 years, I would say, of your earnings record, and they apply a formula to it. So make as much money as possible, but that's probably gonna move it dollars, you know, not not a whole lot. Um, but you know, you can make as much money and that that will could per could perhaps push it up a little bit. Are you uh do you have go ahead?
SPEAKER_03I was gonna say, let me ask you a question. If I make uh if I can continue to earn and I'll probably continue my career even in my 70s, are they gonna factor that into my um social security even beyond 70?
SPEAKER_02Yeah, they may like refactor it, but I'm gonna tell you it's not gonna move a whole lot. Like they may, because they they will they will create this what's called a PIA or primary insurance amount, and it's based on the last 35 years. So that can drift up a little bit. You know, if there were years where you're considerably making more than what you were. So the way they do it is they take the highest 35 years, they apply an index to it to account for inflation, and then there's these different bend points. It's a rather complicated formula. All that to say, you're not gonna be able to move it much. It may move a little bit, but I would say work if you like working, if it keeps you happy, if it keeps you sane, keeps you out of trouble. Keep going.
SPEAKER_03Well, here's another question. Um, my uh I'm divorced, but I've never been remarried since then. Can my ex um take 50% of what my earnings are? Is that the way that works? Has she been remarried?
SPEAKER_02Uh she has not. Were you married for more than 10 years? Yes. Yeah, absolutely. Yeah, she can do that for sure.
SPEAKER_00She doesn't even have to wait for you to start drawing to do that.
SPEAKER_03Oh, is that right? Okay. Yeah, you're already so she'll get 50% of what I uh have as my earnings. Is that correct? Mm-hmm. Correct. Yep. Okay.
SPEAKER_00By waiting until 70, you've really done everything you can to maximize it for not only yourself, but also for for your ex-spouse.
SPEAKER_02That's good. Yeah, now the the only other thing I would I would say, do you have like veterans benefits or FEHB or anything like that? I do not. Okay. Sometimes there's some special plans or something that will, you know, kind of give you a credit for part B, but you probably won't want to do that unless you if you don't have those benefits. When you retire, are you going, or I guess when you start Social Security, are you going to uh go on Medicare as well, or are you gonna stay on employer coverage?
SPEAKER_03Um I already have Medicare, though. Oh, you already started when I was 64. Do you have A and B? Um I have the Medicare Advantage program through United Health Care.
SPEAKER_02Okay, okay. Sounds good. Yeah, then you're probably you're probably all set for sure. When's the last time you reviewed that coverage?
SPEAKER_03Um I have uh somebody who does a little bit of that for me, and she just lets me know if there are any changes to it and things I should be aware of. Awesome.
SPEAKER_02Sounds good. I think you're in good shape, Gary.
SPEAKER_03All right, gentlemen, if I'm getting your uh stamp of approval, uh you made my day, and uh I appreciate the lady by the way who answers the calls. Give her a pay raise.
SPEAKER_02Yeah, we we'll do our best. She's probably due for one anyway. Thanks. Thanks, Gary. Take care. All right, thank you. Bye-bye. It's no secret that here on the Medicare School channels, you will probably learn that a Medicare supplement plan is going to offer you more comprehensive coverage that you'll probably be happier with for your life. However, there are some of you who should go on a Medicare Advantage plan. So even though we talk about Medicare supplements a lot, some of you need to go on a Medicare Advantage plan. So join us tomorrow. You're gonna learn who needs to do that and why. We'll see you tomorrow.