The Case FOR Medicare Advantage (From People Who Warn You About It)

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We talk a lot about the risks of Medicare Advantage.

But today, we’re making the case for it.

On today’s Medicare Daily Show, we’re covering 7 groups of people who may actually be better off with a Medicare Advantage plan, and why the “right” choice depends on your situation.

Bring your questions, your concerns, or even the plan you’re considering. We’ll be live and ready to help you think it through.

Transcript

SPEAKER_01 0:03

When you start Medicare, you are probably gonna go on one of two plan types. You're either gonna get a Medicare supplement plan or a Medicare Advantage plan. Uh on this channel, you're gonna learn a lot about supplement plans, and you're I'll probably also know that we tend to favor those. However, there are, I believe, seven groups of people that should get a Medicare Advantage plan. So stay with us. You're gonna learn what these seven groups are, and if you're in one of those groups, because Medicare Advantage plans are not bad, they're just different. You need to understand the differences and you need to know if it's right for you. Welcome to Medicare School Daily. My name is Josh Music. This is Justin Cohen. Justin has been with us for many years now. He is one of our best Medicare agents. And if you call into Medicare School and you want to work with Justin, you can request him. Whether you're just starting Medicare or maybe you're starting Social Security or you're retiring, uh there's a lot of people that want to sell you something. So the purpose of today's show is not to sell you anything, it's just to give you answers, give you education so that you can make the best decision for yourself. If you have a question, I want to encourage you to call in. 833-824-2004, 833-824-2004. You can call in, ask your questions, be a part of today's show, uh, and really start your benefits confidently. So I encourage you to do that. Okay, so Justin, uh, we've got some callers coming up, but let's get to maybe the first couple of groups set the stage for why some people need to take a Medicare Advantage plan.

SPEAKER_00 1:27

Some people are going to be better off with a Medicare Advantage plan. As you were saying earlier here at Medicare School, mostly we're advocating for Medicare supplement plans because most of our clients want control, they want flexibility, they want convenience, and if they can afford it, that's what they get. But certain groups of people are better off on an advantage plan. I can think of seven.

SPEAKER_01 1:44

Of seven.

SPEAKER_00 1:45

Number one, people who have TriCare. TriCare Prime turns into TriCare for life when you turn 65 and you must enroll in A and B, even if you have employer group health insurance. In order to maintain TRICARE, you must join Medicare A and B. And then TRICARE does the same thing a supplement plan does. It covers the leftover 20 percent after original Medicare pays the first 80%. You have nationwide coverage, you need no referrals and have no pre-authorizations. So a supplement plan has no business uh being in the wallet of somebody who has Tricare for life, but you know a Medicare Advantage plan can save them money.

unknown 2:19

Okay.

SPEAKER_00 2:20

How? They have give back plans, Part B premium reductions. If you're on TRICARE, you might be subtle sort of bothered by the fact that you're required to sign up for Medicare and pay two hundred dollars for insurance that you don't really need considering you have full coverage already with copays.

SPEAKER_01 2:36

But um, so these give backs, tell me about these.

SPEAKER_00 2:39

Well, a lot of these people want to get on Medicare but pay less for it. So you check your area to see if there's a Medicare Advantage plan with a Part B premium reduction, referred to as a give back. In a lot of areas, they'll give you back $185 a month. So almost your full Part B premium. These people pay $18 a month to be on Medicare. They're avoiding a penalty, they have nationwide coverage for the most part.

SPEAKER_01 3:00

Are there some other perks that get thrown in?

SPEAKER_00 3:03

Oh, yeah. Some dentals, some vision, you get a gym membership, small allowance to purchase over-the-counter supplies. They put these put bells and whistles on these plans.

SPEAKER_01 3:11

These plans are usually called, they're called, we call them like an MA- only plan, Medicare Advantage. There's no drug coverage included in it because you're getting your drugs through Tricare, I guess, right?

SPEAKER_00 3:20

That's right. Tricare has drug coverage. Very important that the Advantage plan does not contain drug coverage. It needs to be an MA only.

SPEAKER_01 3:28

It's specifically built for this.

SPEAKER_00 3:30

These are designed for military families. In fact, they'll carry names like the Patriot Plan and the Honor Plan and the Courage Plan. So we'll help you pick one.

SPEAKER_01 3:38

Okay. So TriCare, what else? Or who else?

SPEAKER_00 3:41

People who have Medicaid.

SPEAKER_01 3:42

Okay.

SPEAKER_00 3:43

People who are enrolled in the State Medicaid program do not need a supplement plan. Couldn't buy one even if you wanted to. It's not allowed because of the U.S.

SPEAKER_01 3:50

What's the difference between Medicare and Medicaid?

SPEAKER_00 3:52

Oh, Medicare is health insurance for people who've worked and paid taxes their whole life and made it to 65 or qualified due to a disability, sometimes end-stage retal disease. Medicaid is state health insurance that can be uh awarded to anybody of any age if their income is at or below a certain threshold, usually the federal poverty limit.

SPEAKER_01 4:11

So Medicaid is is is and Medicare and Medicaid can work together, right?

SPEAKER_00 4:16

They do. They do coordinate, yes. Medicare becomes the primary insurance and pays 80 percent of a person's medical bills. The State Medicaid program will step in and pay the following the last 20 percent of their medical bills as long as they're using a doctor in their state that accepts both Medicare and Medicaid. So they don't need a supplement plan. Medicaid is doing that for them.

SPEAKER_01 4:37

Aaron Powell I think it's even illegal to have a Medicare supplement plan and have uh uh uh Medic or Medicaid, right? You can't use the rules. That's right. So so then how does a Medicare Advantage plan fit into this?

SPEAKER_00 4:50

Because at this point it sounds like we've got Medicare, we've got Medicaid, and we've got an advantage plan overlay, or we've got Medicare and we've got Medicaid, but what we don't have is dental, we don't have vision, we don't have prescription drug coverage, and we don't have a gym membership yet. So adding an advantage plan for no additional monthly cost gives these other coverages and benefits.

SPEAKER_01 5:09

Aaron Powell Do some of those plans have the give back, or is that pretty much for military, TRICARE, VA, that sort of stuff? Aaron Ross Powell, Jr.

SPEAKER_00 5:16

Nobody will stop a person who has Medicaid from getting a give back plan, but it's a bad idea. It's it's not helpful. Okay. And the give back plans are less generous on these ancillary benefits, whereas the plans designed specifically for people who are both Medicare and Medicaid eligible. These are called dual eligible individuals. Um just need the additional. Trevor Burrus, Jr.

SPEAKER_01 5:35

We call those plans a DSNP, which stands for dual special needs plans, if you're eligible for Medicare and Medicaid. Okay. So Tricare, Medicaid, who else?

SPEAKER_00 5:43

People who are turning uh going on to Medicare under 65 years old. In most states, you can't even purchase a supplement plan under 65. In some states you can, but it costs three times the monthly rate.

SPEAKER_01 5:54

I was looking at, yeah, so we had a caller last week, and I think it was $780 for a plan G compared to $150, you know?

SPEAKER_00 6:03

Not a good deal. Those people will get a second opportunity to enroll in a Medicare supplement plan, turning $65. So that's a temporary thing. You just get them a Medicare Advantage plan because they need it. You can't walk around with just Medicare A and B. All you have is 80% coverage, and 20% of an emergency room will knock your socks off.

SPEAKER_01 6:20

Yeah.

SPEAKER_00 6:20

So we get a Medicare Advantage plan just for financial security and some extra benefits, knowing that they can have that supplement later when it's more cost effective.

SPEAKER_01 6:28

Okay. Tricare, Medicaid, uh under 65. Basically, you're eligible for Medicare due to a disability. You probably can't or won't want to afford a Medicare supplement, or it won't even be available. So getting a Medicare Advantage plan in that respect is often good, knowing at 65 you're going to be eligible. You're going to be treated as though you're brand new to Medicare again, and you're going to be able to get that Medicare supplement plan at that time when you turn 65 with no health questions asked. And it'll be the standard premium, not this inflated cost. That's correct. What's group number four?

SPEAKER_00 7:00

Group number four is uh some people living in certain areas. All right. Um there are areas of the country where you can choose to purchase a Medicare supplement plan next year or the next year, even though you're not new to Medicare anymore. We call these OE states New York, Massachusetts, Connecticut, Vermont. These are places where you can sign up for an advantage plan because you're healthy at 65, uh, and then you have the opportunity to change to a Medicare supplement plan later with no medical underwriting. So nobody purchases a supplement plan in New York at 65 unless they're already experiencing five, six, seven thousand dollars in out-of-pocket copies.

SPEAKER_01 7:36

Or if money is just not an object and they just want a supplement plan.

SPEAKER_00 7:39

Well, that'd be another group of people that's on this list, and that is people for which Medicare supplement is simply not affordable.

SPEAKER_01 7:45

Okay. Yes. Oh, that makes sense. So but I I want to stop here. So these states, because I I think we should go a little bit deeper to this year-round what we call OE, and that's insurance jargon, stands for open enrollment. But basically it means whenever you turn 65 uh for the first time, or and you go on part B, or maybe you start part B at a later date, you're 67, you're just now retiring. Whatever it is, when you first start Part B, in almost every state in the country, you have a once-in-a-lifetime right to get a Medicare supplement like a plan G or like a plan N with no health questions asked. Okay, it doesn't matter what's going on. You could be undergoing cancer treatment, you could have had a heart attack last week. The insurance company has to take you. Okay. Now they're gonna lose their shirt on you because you're undergoing treatment, but there's nothing they can do about it. There's no box they can check to say, hey, we don't want this person or this risk or these bills. So what ends up happening is if you don't take it at that time, you end up maybe getting into a situation where you can't get it. Okay, but in these few states, to your point, you there that rule is different. Okay, so what are the states?

SPEAKER_00 8:48

New York, Massachusetts, uh, Connecticut, and Vermont.

SPEAKER_01 8:52

Okay, so those states, the six-month rule doesn't apply. So you can take a Medicare Advantage plan, be on it for five years, something changes in your health, and you just say, ah, I want a Medicare Advantage or Medicare supplement plan, and you're able to get it. The insurance company, by state law, can't decline you from getting that supplement plan. Now, my guess is in those states, Medicare supplements cost more.

SPEAKER_00 9:14

They do. Which uh for everybody. But that further reinforces the fact that people who are healthy enough will get a Medicare Advantage plan for starters, because a supplement plan that costs $150 a month here in the Midwest is going to cost $380 in New York minimum.

SPEAKER_01 9:31

Yeah. So you'll get to start maybe start with a Medicare Advantage plan until something changes in your health.

SPEAKER_00 9:36

That's exactly right.

SPEAKER_01 9:37

So it's kind of interesting. Like it sounds consumer friendly, right? That oh, anyone can get a Medicare supplement plan at any time. But what it actually does is it almost prices Medicare supplement plans out of the market for most people and forces people into Medicare Advantage plans. I was talking with somebody uh probably two months ago that's very well connected in the Medicare industry, and he said the people that are behind these trying to get these states to say anyone should get a Medicare supplement at any time, it's the Medicare Advantage Plan companies. They're the ones who are lobbying for this legislation. Why? Because when they can kind of make the price of a supplement be so high that everyone goes on Medicare Advantage Plan, and then they've got a backdoor when the prices, when the the bills start getting expensive on Medicare Advantage Plan, then those people will switch over to supplement plan and be off those books. So they're taking the healthy people and then they've backdoored their way into a way to get the unhealthy people off. It's kind of crazy. I hate it. And it what what it does is like it's good if you're in that scenario, right? It's good if you're undergoing a health problem, but it also penalizes everybody else who isn't going through that health problem because the insurance companies they have to raise their rates for everybody. They can't single. A Medicare supplement plan can never single you out for a price increase. It can't say just in your supplement plan because of your uh you've cost me a bunch, I'm gonna raise your bill 50%. Car insurance can do that.

SPEAKER_00 10:58

Right.

SPEAKER_01 10:59

Right? But Medicare supplements cannot cancel you like your car insurance could. They can't raise your prices based upon your history of claims, like car insurance could. So they're stuck spreading that risk out over everybody, which means everybody's rates go up in that state. That's right. That was a little bit of a rant.

SPEAKER_00 11:18

No, I think it was good. I think if you follow the money, you probably find the answer. But uh yeah, advantage plans came out because uh the insurance carriers lobbied Congress.

SPEAKER_01 11:27

And again, we are not anti-advantage plans on this channel. If you come and you work uh with our company, 100 people call us. 75 of you will probably end up in a Medicare supplement, whether that's a plan G or a plan N, 25 of you, the best thing for you, absolutely, is going to be a Medicare Advantage plan. And so we are not uh anti either. We just want everyone to walk in knowing what's going on. Okay, so uh TRICARE, Medicaid, under 65, uh these states, open enrollment states, where you can always get a Medicare supplement plan, no matter what your health condition is, these four or five states, who else?

SPEAKER_00 12:04

Well, leading off of that last one, there are certain areas of the country where, although you can't switch back and forth between advantage and supplement plan quite so freely, there are places where advantage plans just have a really good leg up. Places like Los Angeles County, California, Orange County, California, San Diego County, California, Miami-Dade, Florida. There are places where Advantage plans have a maximum out of pocket of $199. Really? It costs nothing to see a doctor. It costs nothing to go to the hospital, it costs nothing to ride in an ambulance.

SPEAKER_01 12:34

Those networks just must be really strong. They're all HMOs. Oh, yeah, HMO.

SPEAKER_00 12:38

They're all HMOs.

SPEAKER_01 12:40

So the care is going to be a little restricted, perhaps.

SPEAKER_00 12:42

As long as you don't mind having network restrictions and maybe having to lose a doctor or change one every couple of years. And if you don't really get bothered by pre-authorization, then it's hard to justify paying $200 a month for a supplement plan when you can have uh an advantage plan that has a $200 annual maximum out of pocket. So if you can take the cons with the pros, there's not a lot of financial risk in advantage plans in those counties. Trevor Burrus, Jr.

SPEAKER_01 13:07

100%. I think that the opposite is somewhat true as well. So maybe some of these there's a there's a handful of areas where we would say don't get a Medicare supplement. It's too expensive, and the the advantage plans are just too good, right? But the opposite is also true, and I think it largely shows up in um most of the country, it's you know, kind of six and one half dozen the other. You choose what what works for you. It's not blatantly obvious which plan is is heads and shoulders better. But there's in some rural areas where there's no hospitals or these Medicare Advantage plans just don't have a network, so they can't have a plan that's supported in that in that area. You're going to probably go on a Medicare supplement plan. So the opposite is also true. So okay, what's what's the next group?

SPEAKER_00 13:49

The last one, and this is a little bit obscure, but uh expats who have decided to move out of the United States and live in Panama, Mexico. Okay. Original Medicare doesn't help you when you're outside of the country. And to a large degree, advantage plans don't either, with limited exceptions near the U.S. border. But there are communities, growing communities of expats, who have found that certain Medicare advantage plans will pay providers in these other countries and they accept that as payment. That's right. Panama. Uh I was trying to find uh the re where I found it before. Several countries, but Mexico and Panama for sure. Trevor Burrus, Jr.

SPEAKER_01 14:26

They must have a billing organization in the U.S. that they bill through. There's gotta be like I I it's hard to imagine that Medicare is gonna like send of course, Medicare will send a payment to about anyone, like that's rife with fraud. Um obviously, so you know you never know. But I wonder if they have like a billing org in some somewhere in the States that gets billed and then the money somehow flows down there. I don't know. That's wild.

SPEAKER_00 14:49

It's something that's really hard to find information on. But one of my clients actually clued me into this last year and uh told me about a YouTube channel where somebody's uh really talking about it. Really? I've lost it. I can't I can't find it again. Uh but I'm gonna find it and I'll give you the information. So under limited circumstances, uh, if you're gonna live outside the country, a Medicare Advantage plan will pay the doctors in Panama.

SPEAKER_01 15:12

Yeah, that's interesting. Okay, what about uh one we didn't mention was people who have VA benefits. Uh let's talk about that.

SPEAKER_00 15:19

Yeah, so uh VA benefits, if if you have VA and God bless you and thank you for your service, uh you need to feel like you can depend on the VA, that you can really lean on the VA, because this is a long-term decision that you're making, choosing a supplement plan or choosing an advantage plan. Certain areas of the country, my clients tell me I don't trust the VA. I don't feel like I get good quality care, or it takes too long to get an appointment. But for the guys who say and gals who say that they do get good care, care is accessible, and they do feel confident in the medical providers, getting a Medicare supplement plan is only for what you do outside of the VA. All right? The VA insurance that you've earned operates in the same world, but on a different plane from Medicare. Medicare is for things that you do in the civilian world. And there's not a lot that you need from the civilian world if you have VA, because they have community care. They'll send you to civilian providers for any tests that they can't administer themselves. If you're out of town and you have an emergency, you just have to call the VA within 72 hours and they'll pay for the emergency room. The VA is excellent care. You get from Medicare what you want to have access to outside the VA. And if that's not going to amount to much, a Medicare Advantage plan with a Part B premium reduction is right up your alley.

SPEAKER_01 16:32

So it's gonna be very similar to Tri-Care folks. It's gonna be the same type of this, you know, the honor plan, the courage, the patriot plan, these types of MA only plans. They don't have drug coverage because you're getting drug coverage through the VA as well. But now you have access to like how do we get that part B reduced, right? You know, up to $185 instead of paying $202.90 for it, it's now $185. You get things like gym memberships, over-the-counter benefits, dental benefits, vision benefits, all these extra things that get thrown in at no cost to you. And all it does is it gives you just like a civilian option, if you want to go to urgent care for 20 bucks, now you can do it. It's just different than always having to go to the VA. And a lot of people love that sort of flexibility. That's right. Okay, another one, FEHB. Because I know there's some restrictions on supplement plans as it relates to FEHB and coordination and MA plans and all that. You want to speak to that?

SPEAKER_00 17:22

Yes. Uh but I think folks that have FEHB or do not belong on this list because a Medicare supplement plan is every bit a viable option for them as an advantage plan, if not more. You mentioned before that you know, when clients come through Medicare school and they get their insurance from us, it's not just about today, it's about ongoing support for the rest of their life on Medicare. And so I'm responsible for helping them solve problems that they'll have. And if I help them get a Medicare supplement plan, there are vastly fewer problems that ever present present themselves in the future. So the thing about FEHP is they still get to choose. If they want full coverage nationwide, they need a supplement plan. If they don't need that, uh then they can get a Medicare Advantage plan and temporarily suspend FEHP.

SPEAKER_01 18:05

But if they get a Medicare supplement plan, they are they never can go back to FEHP. Trevor Burrus, Jr.

SPEAKER_00 18:10

No, and they never miss it.

unknown 18:11

No.

SPEAKER_00 18:12

They get the same coverage at a more stable rate.

SPEAKER_01 18:15

Point taking. I feel like that's a I don't know. But uh to me, it feels like something that could be risky to people, like, oh, I'm giving up these FEHB benefits. Because if you get a Medicare supplement, you're kind of saying I'm done with that. Whereas if you get a Medicare Advantage plan, you're temporarily suspending the FEHB, and you can always go back to that at every open enrollment. So speak to that in your experience.

SPEAKER_00 18:37

Well, being on Medicare and FEHP versus being on Medicare and a Medicare supplement plan is deciding I want to leave this five-star hotel and move across the street to this five-star hotel, I'm not gonna miss the other one across the street. But it does cause anxiety for people when they've had Federal Blue for so many years and now you're talking about potentially leaving it forever.

SPEAKER_01 18:58

But generally the coverage is better.

SPEAKER_00 19:00

Oh, it's identical.

SPEAKER_01 19:01

Yeah.

SPEAKER_00 19:01

It's identical. They have full coverage, they have it nationwide, they have no referrals, no pre-authorizations. It's just instead of federal blue being the supplement plan, it's an actual Medicare supplement plan with somewhat more predictable rate increases.

SPEAKER_01 19:15

Okay. So there's less variability. That's what I've found. As it goes. Okay. Well, from a price perspective.

SPEAKER_00 19:22

Federal blue for an individual is $279 a month last time I checked. Okay. Um that's more than a Medicare supplement plan. And the only difference is $100 at least. It has drug coverage built into it with FEHP, sometimes dental, but that's not enough to bridge the gap.

SPEAKER_01 19:36

Okay, let's talk to Jeff in Texas. Jeff, welcome to Medicare School Daily. What questions do you have for us?

SPEAKER_02 19:44

Okay, thank you so much. Appreciate it. I have two questions. One is related to Medicare, the other is related to Social Security. So uh why don't I do the Medicare one first? Um it has to do with, I know you guys have the uh you you share information on how you know you uh if you can avoid getting stuck in a plan G, if you can pass medical underwriting, you have other options with other plans that could save you money over over time. So uh the reason I'm calling is I had a medical, I had a uh implantable uh cardiac monitor and put into my uh under my skin and my chest. Uh and uh it'll be there for probably three or four years. Um you know, I don't have any uh uh I uh uh things I think that would prevent me from passing um underwriting. But I kind of wonder the fact that I have this now, does that maybe preclude uh my being able to um pass medical underwriting until that comes out of me?

SPEAKER_00 20:51

You know, it it sure could. There was a reason that they put it there, Jeff. Um, and I might ask you what that is if you want to share, but it would be the reason that they put it there that could prevent you or preclude you from passing underwriting.

SPEAKER_02 21:04

Yeah. Well I'll give you uh briefly, it's just uh I I have a condition that involves uh uh they call it premature atrial contractions tax, and uh it's not like threatening in any way, but you know some of those things that down the road it could lead to possibly AFib or stroke. So the cardiologist is just trying to stay ahead of things to to make sure that you know we don't get into any kind of uh uh uh dangerous situation.

SPEAKER_00 21:33

And might also thank you for telling me, Jeff. Might also want to differentiate between uh an implantable cardiac monitor and an implantable cardiac defibrillator, two different things. This is just a monitor, right?

SPEAKER_02 21:45

Yes, it just continuously, you know, once a day it sends the the uh heart information, uh the the things it's just uh it's kind of like an EKG every day for the whole day, and it and it gets sent in. And uh if there's an issue. I can be notified. But I was just kind of curious, do you think that might like preclude medical underwriting right away, or is it something that somebody might consider if I wanted to change plans?

SPEAKER_00 22:13

You know, you never know until you try, and there's no harm in trying. If you want to give us a call, we'd be happy to help you try. There are certain carriers that'll be more familiar uh forgiving of cardiac issues, which is what this is, a minor cardiac issue, in my opinion. There's a good chance that you can pass underwriting, but almost an equal chance that you could not. And it may be that after just a couple of years of having this monitor in place, the information provided through it tells insurance carriers that it's not a big deal. So if you couldn't switch your supplement plan today, then within a year, maybe two, we would try again if you're really trying to get it. What are you trying to leave that supplement plan for, Jeff? What are you trying to get instead of plan G?

SPEAKER_02 22:52

Oh, it would just be another, a different plan G. I know Marvin has talked a lot about how you kind of move from one block, uh, an insurance block to another because you know the group and the block uh you know, they start to pass and uh costs go up because we're getting older in that block, so if you can transfer to another block, you know, you can you can reduce your costs. So um just uh something I've learned from Marvin. Okay, great question. What is your second question?

SPEAKER_01 23:24

What carrier are you with?

SPEAKER_02 23:27

Uh I'm with Mutual of Omaha.

SPEAKER_01 23:30

Okay, and what's the rate right now?

SPEAKER_02 23:34

The rate is uh let's see, hang on just a second. I can actually So the amount I pay is $177 a month for my plan G, supplemental plan G.

SPEAKER_00 23:50

That doesn't sound bad, Jeff.

SPEAKER_02 23:52

Yeah, that doesn't sound too bad at all.

SPEAKER_00 23:54

Sound bad at all. I'm glad that you would switch from a G to a G if you even did anything, but to be quite honest, that rate is still competitive. What you have is a pretty solid bird in the hand.

SPEAKER_01 24:04

Yeah. I mean you could probably save a few dollars, but I'm not sure that it'd be really worth it. Okay. Are you sure? Are you sure that's the rate?

SPEAKER_02 24:13

Uh absolutely, yeah. I'm looking right at it. I'm looking at the right. Uh that rate went up significantly last. I mean, another 25% uh increase from uh last year, you know. So um, you know, Vitro Boma's uh they're gonna they're making up for lost time, I think.

SPEAKER_01 24:32

Yeah uh and you're on a plan G, not a plan N, right? Yeah, correct. That's a plan G. I I I think you should probably hang tight right there.

SPEAKER_00 24:43

Okay. I don't see any urgency in changing it. Um it is around 70, 71, 72 that we start to see that carrier um go up by a little bit more, and so maybe we can get ahead of it. But uh either way, Jeff, that's a good rate. And uh don't let it go until we can replace it with um something better. I don't see a lot at a lower rate, uh, but um yeah, just be grateful for what you got at this point. Let us know if you want to shop.

SPEAKER_02 25:09

Okay. Okay, all right. Thank you guys. So the uh I'll move on to the second question, which is related to Social Security. I've been taking Social Security for I think I'm 69 now. I probably started this about uh five years ago uh due to job conditions. You know, I ended up getting laid off and that kind of uh uh kind of triggered uh having to take it sooner than I really really wanted. Anyway, things were going really good. Um I just however I just received a letter from Social Security Administration basically saying that they are going to reduce my monthly benefits by $244. And um they're very good at giving numbers and so forth, uh, how much they paid me in different months and years and so forth. It's just it isn't well explained the logic of it. The only thing I can really find is that um in one sentence says we change your benefits for 2024, our records show that you did not have any earnings in 2024. Um is is Social Security sort of predicting how much you're gonna make uh ahead, and that's what they base their numbers on, and then when it turns out not to be the case, do they kind of go, okay, we've got to we've got to correct that and uh you know pull back on the on the benefits?

SPEAKER_00 26:36

Um the benefit based on your best 35 years.

SPEAKER_01 26:41

Yeah. So let me ask you this. Did you did you when did you stop working?

SPEAKER_02 26:47

It would have been in well, actually I I'm still doing uh commission-based selling right now.

SPEAKER_01 26:54

So I earned it. When did your income go? Nothing. Did you have a big income drop, like from 23 to 24 or something? Yes, absolutely. How like how much?

SPEAKER_02 27:06

Well, um, like in hundreds of thousands. Uh well, it would be uh, I mean, I was making low stick figures in 2019. Okay. And then it uh dropped to uh less than half of that in 2020. 2021 had zero income because of COVID, and um uh and then 2022 it went back up into um you know on the order on the range of uh five figures uh in the you know 75,000 approximately. And then zero. So it got really sporadic. 2023, there was zero.

SPEAKER_01 27:43

To me, like if you said, hey, I was making half a million bucks or whatever a year or you know, whatever, and then it got went down to zero in 20, that like maybe that could explain some bit of differentiation, but $244 is a lot. Here's what you should do just call your Social Security office and just ask them. Say, why is this going down? And they should be able to tell you that. Um the only other thing that I was thinking of, but it doesn't sound like this is the case, is uh, you know, they're they could have determined you had an uh what's called an IRMA, which is an income-related monthly adjustment amount, and maybe maybe in 24 what are you single or married?

SPEAKER_02 28:23

Uh married, and yeah, no, believe me, I I know those irma numbers. So and you're are you are you not are you not in that in ballpark?

SPEAKER_01 28:31

I'm not in that. Okay, yeah, that's the only thing that ever came into my into my mind. Just call them. Yeah. Say why what why did I get this letter? What's it all about? Um for sure. Okay, yeah.

SPEAKER_00 28:45

Disagree for sure, Jeff.

SPEAKER_02 28:48

Yeah, yeah.

SPEAKER_01 28:49

Make them earn it.

SPEAKER_00 28:50

Jeff, tell them tell them I disagree with that.

SPEAKER_01 28:52

Yeah.

SPEAKER_02 28:53

Yeah, yeah, exactly. All right. I will definitely put a call in and uh see if I can get more details. I thought I'd just touch base with you guys that you know, just so I'm more kind of maybe a little bit more equipped to understand how this is.

SPEAKER_01 29:07

It's it sounds strange, uh, unless there was some like over overpayment um in 23 or or s or 24 or something. I'm not sure. It sounds strange. Not nothing comes to mind exactly. Um, as it relates to that supplement plan, though, if you do want to shop it, maybe next year, year after, give us a call um and we can do that for you. It's a good idea to look at that every couple years. So Okay.

SPEAKER_02 29:31

Okay, perfect. Thank you guys. I really appreciate your help.

SPEAKER_01 29:34

Take care. Bye-bye. If you would like help enrolling in a Medicare Advantage plan or a Medicare supplement plan, if you'd like to compare the different Medicare Advantage Plan options or compare Medicare supplement options from all these different various care carriers, you can call in to our office. I'm gonna give you the phone number here in just a minute. You can call in and you're gonna talk to someone right here in Kansas City. They're going to have been trained by my dad Marvin, and you're going to be able to be confident that the advice that they're giving you, the guidance they're giving you is correct and true for your situation. I don't want you to get tripped up by somebody who's new to the business, somebody who's working out of the back of their car, or maybe somebody on one of these 800 numbers, these call centers that you call into who were hired four weeks ago and are getting a bonus based upon how fast they can sell you a plan and get off the call. I think that's disrespectful. So if you want a different experience, you can call in. Our phone number is 800-782-6676, 800-782-6676. You can ask for Justin. You can talk to anyone here, and they're going to be able to take care of you. And I think the interesting thing about working with us is not only are we going to help you do all the government forms, enroll in A and B, help you enroll in Social Security, help you understand the options and do all the red tape and the paperwork, all that stuff, but you're also going to have someone that you can call for life. So when you become a customer of MedicareSchool.com, you're assigned a dedicated client care manager. So if you move across the country, if you uh your premium goes up and you need to switch plans, if you lose your ID cards, you have a billing issue, a claims issue, you need somebody on your side. You're going to have a person, a phone number that is on your side that can call, that you can call, and will help you through anything that you may be experiencing. So I encourage you to call. Our services are free, it doesn't cost you anything to work with us. Our phone number is 800-782-6676. You can get help today or schedule an appointment for the future. Today you learned the seven types of people that need a Medicare Advantage plan. For the rest of you, you're probably going to end up on a Medicare supplement plan. And you're probably going to end up on either a G or an N. Join us tomorrow. We're going to talk about plan G. We're going to talk about plan N, who it's right for, because there are some groups that you really should get a plan in, and there's some groups that you probably ought to get a plan G. Join us tomorrow. You're going to learn exactly what you should do so you can make the best decision for yourself.