[quote=FlyerInHi]GE and IBM and big companies ending retiree health benefits has been a gradual shift for a long time. It would have happened with or without obamacare.
Retirees should be so lucky that there is a a fallback different than being left out in the cold.
I have a relative who is about to retire from IBM in New York after about 40 years. We talk about it all the time. There is a seniority level. The more recent employees get different benefits than decades long employees.[/quote]
Medicare Part B, MediGap Coverage and Part D (Prescription Coverage) combined are a LOT cheaper per month than a comprehensive health plan for a 50-65 yo or even a HDHP (which, except for the “Bronze Plan” are now going away).
I have an Aetna Medicare Supplement Chart dtd 1/1/13 in front of me showing premiums as low as $90 mo (Plan “N”) to $129.60 mo (Plan “F”) for age 65 living in all SoCal zip codes. They charge $107.48 to $110.06 for Medicare Part B.
The 2013 Aetna Medicare Premier RX Chart (part D) shows premiums from $86.20 to $122.40 for SoCal ($118.40 mo in SD County). For example, generic drugs are $5 – $33 and preferred brand-name drugs are $45. Their annual drug-coverage cap is a generous $4750.
The total 2013 Part B/D premium PLUS the Plan “F” supplement (the best one) in SD County costs $355.48 mo ($107.48 + $129.60 + $118.40) for a 65 yo.
SoCal is a fairly high-cost region for medical costs. It can’t cost those companies in the OP THAT MUCH MORE, if any more than SoCal for Part B/D coverage plus Medigap coverage. I agree that the move to dump these retirees into the marketplace with an allowance was just to prevent them from absorbing any future rate shocks (just in case “Obamacare” blows up in smoke and more revenue from the Medicare programs are sought to make up the difference) :=0
Nearly all the big carriers offer a Medicare Advantage Plan (Part C, which includes Parts B, D and Medigap coverage) in the large metropolitan areas, which have slightly higher premiums but appear to have too many built-in constraints and gatekeepers in my opinion … they work kind of like “Tricare for Life.” However, the patient doesn’t have to fool around with medical bills because they never see any.
In any case, I’m going to “go away” to a rural-ish area where these types of plans aren’t available.
(This posted was slightly edited later when I discovered I read the Medicare Supplement chart wrong.)
