Tricare For Life: Do You Need Medigap too?

Tricare For Life: Do You Need Medigap too?

TRICARE for life do you need a Medicare supplement ie Medigap policy or MedicareAdvantagepolicy Medicare Advantage Medigap policy if you haveTRICAREforthelifewe're going to talk about that because I did loads of analysis on this and I was finally able to kind of narrowed down and so you will be interested in this for sure so don't forget to subscribe if this is of interest to you
not just for this but anything health
insurance related because we're learning
a lot as we go forward and I'm just
going to share with you the advice I'm
not a health insurance expert I'm not a
broker I've no licenses I don't sell
this stuff I cannot stress you the
enough the reason to go get a broker
when it comes to health insurance
especially on Medicare Medicare
Advantage Medigap I mean the you
think so scary is crazy health insurance
is mind-boggling
it's insane it was just which is which
is crazy anyway so seek professional
guidance alright so I was doing some
research on this guy said if I have
TRICARE for life do I mean I don't but I
know a lot of people do you need a
supplemental policy and it turns out the
the answer is probably no if you probably do
not need a supplemental policy and
readers can go straight to the horse's
mouth here at USAA and so remember it's
just real quick Medicare it has Part A
at 65 is hospitalization insurance
that's part a which is free there's no
premiums to pay so there's really no
the reason not to have Part A when you hit
65 now some people say well, my employer
offers it make sure you talk to your
employer because a lot of employers say
look you know go on a partay because
you've already paid for it so you get it
for free now the real question is will
you need Part B if you're still on your
employer's plan and I don't know that
would be something for you to decide but
does absolute no reason not to enroll in
at least partly advocacy I'll give you
that to you but Part B does have that
premium one hundred thirty-four dollars
a month and some people say well I don't
want to pay that premium plus my
employer coverage if they're just
overlapping and I get that be up to you
and your HR folks and your health
insurance company but on the other day a
a lot of employers probably say yeah once
you hit 65 you should go on Medicare a
and B and even if you have to pay the
premium
I'll be up for you now the question
comes in is that's Part A and Part B but
they're those don't cover everything all
right we know for a fact Original
Medicare Part A and Part B leaves are
pretty significant out-of-pocket expense
I mean there are no others there's no
limits on your out-of-pocket expense
even if you're covered with Original
Medicare which is why that met a gap or
medicare supplement the same synonomous
the same exact thing which you pay a
the monthly premium for a policy which will
cover your expenses on top of what
Medicare Original Medicare does not then
you have Part C which is a Medicare
Advantage plan which will cover the same
kind of thing which takes over Medicare
a and B they kind of all float together
in one Part C plan and a lot of times
it's less expensive but the reason it's
less expensive is because it's a network
kind of like an HMO not always our PPO
Medicare Advantage plans - but just
generally speaking, they're gonna
insurance companies going to get a
the network of affiliates of providers that
they're gonna get together and offer
offer coverage to their insurer
through a network, if you travel the state to
state or you know if you're moving
around whatnot or if you have a dock
that's not in the network you know the
Medicare Advantage might not be for you
the Medigap would be preferable
now a Medigap is probably gonna cost
more because of essentially anyone who
accepts the Original Medicare will take
Medigap which is a huge benefit so all
right so all that's it now you say
well I've tried careful life do I need
any of that stuff and let's go right to
this so let's talk right here this is
from Medicare made clear comm TRICARE
for life is a Medicare wraparound
coverage for TRICARE beneficiaries
you're eligible for TRICARE for life
if you're entitled to Medicare Part A
and have Medicare Part B regardless of
age TRICARE for life is available
worldwide
it offers secondary coverage after
Medicare in the US and it overseas is a
primary payer but you must have both
Part A and half B to be eligible for
TRICARE for life and then we're gonna go
over here TRICARE and Medicare's Part C
and Part D TRICARE includes the parties
or prescription drugs my friends so just
keep that in mind Part C is Medicare
Advantage TRICARE for life may work with
either a Medicare Advantage plan or
Regional Medicare it's important
understand to cover the cost of Medicare
advantages visa the network that you're
in TRICARE for life includes a
prescription drug plan so you may not
need a neighborhood D set up if you've got TRICARE
for life, if you do have TRICARE for life
and later decide to enroll in Part D
plan for whatever reason you can do it
at any time without receiving a penalty
for late enrollment because it's
considered credible coverage which means
is that least as good as Medicare Part D
now let's go to USA's TRICARE flyff is a
health program for uniformed service
members retirees and their families who
are enrolled in the defense eligible
Ruhlman eligibility reporting system
deers TRICARE for life is tricare's
the version of a Medicare supplemental plan
Medigap and is designed to pay for what
Medicare won't as long as you're
enrolled in deers there is no additional
enrollment process to be qualified for
coverage you have to be eligible for
TRICARE for life and Medicare and you
must have purchased both apart you must
have purchased a Part B plan on top of
being enrolled in Part A I if you're
eligible for TRICARE flyff you don't
need a Medicare supplemental policy or a
prescription drug plan I cannot tell you
how much research I've done it has
never got that clear said well you might
this most likely don't apply I've had
some people have looked and I think
they're being legit but they're saying
there's no reason to have it but no
annex said it explicitly as USAA does
and I was actually quite shocked and
pleased to see it says explicitly if
you're eligible for TRICARE flyff you do
not need a Medicare supplemental
insurance plan or a prescription drug
plan Part D what services are covered by
Medicare the remaining and what services
are not covered by Medicare TRICARE
takes up the rest if you are medical
services are covered by Medicare but not
TRICARE TRICARE pays nothing and then
medicare deductible and cost share what
you pay if your medical services are
covered by TRICARE but not Medicare
TRICARE they will pay whatever they're
authorized to pay if your medical
services are provided or not covered by
TRICARE or Medicare you pay the little
things so again that's kind of like the
HC out of network
essentially anyone who's eligible for
Medicare would take excess Medicare you
have access to now that doesn't mean
you'll get a good appointment I don't
know but at the other day I just want to
find out if you have TRICARE for life
you do not need according to USA and
almost every other person I'm research
on this now a supplemental policy or
Medicare Advantage or Part D so just
remember that hope this helps my friends
as always if you have comments man I
tell you I'm not extra on this I'd love
to hear your thoughts on anything health
insurance so let me know it we'll see
you next time at the Heritage wealth
planning YouTube channel and subscribe
thanks guys