Q: I am paying $58.70 a month to have Medicare, but in the past three years, I have not had any claims. I would like to drop Medicare – how do I do that?
A: In order to drop Medicare, you would have to contact Social Security at 1-800-772-1213. However, I cannot advise against this decision vehemently enough. For $58.70 a month, you are definitely getting the buy of a century! Just because you have not had any medical bills in three years is no reason to drop Medicare now. Did you drop your homeowners insurance because your house did not burn down? Or get rid of your car insurance because you have not had an accident? I certainly hope not. You have insurance to protect you from large expenses should any of these unfortunate events occur. It would be very shortsighted to drop Medicare simply because you have not had a claim in three years.
Q: I have Medicare, and a policy through the Union I worked for before I retired. I understand I cannot have a duplication of benefits, or have two Medigaps policies in place at once. However, my Union plan is very limited: It pays only $4.00 for an office visit, and $1,000.00 for prescriptions, and $75.00 a year for lab work. That is all! This is not enough coverage and I would really like to purchase a Medigap policy as well, but am afraid I will not be able to.
A: You are most correct in your thoughts that the policy you have from the Union is not nearly enough. You are also correct in the idea that you cannot have two policies that offer the same benefits. However, a Medigap would offer far different benefits from the very limited policy you have from the Union, and therefore, it is not a duplication of benefits, and you could certainly have both polices without breaking any insurance laws.
Q: My health insurance premium just increased substantially, and I want to change plans. However, a friend of mine told me if I do there would be a waiting period for any pre-existing conditions. I do have a few pre-existing conditions, and am concerned about this.
A: As long as you have had continuous coverage, and are going from one plan to another with no gap in coverage, there will NOT be a waiting period for any pre-existing conditions. While friends are certainly well meaning, and we do learn plenty from the experiences of those around us, when it comes to the important aspects of life, be sure to get accurate information and guidance from licensed, qualified individuals.
Q: My health insurance plan is a point of service plan, and I have a $20 in office co-pay. Do I get credit for that with my deductible?
A: No. With many of the managed plans now on the market, you have a deductible for out-of-network experiences and certain in–network experiences. If you do not have to satisfy the deductible for benefits to be available to you for that particular service, you do not get credit towards the deductible. You can’t have it both ways, either a service is subject to the deductible, and then you have to meet the deductible before any benefits are payable, OR you do not have to meet the deductible. If you have a health insurance plan with a $20 co-payment and a $500 deductible for out-of-network services, the co-payment is your responsibility and does not count toward meeting your deductible.
Irene Card & Betsy Chandler share the responsibilities of running Medical Insurance
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