The more I learn about insurance, the less I like what I find
I wrote a recent article here about insurance, especially health insurance for freelancers, and even invited comments from anyone who’s found a good, reasonably cheap resource for such insurance.
We’ve recently, in my household, begun looking at the many ins and outs and options of Medicare. Yes, the years are rushing by and my wife, not ME, is approaching Medicare age in the next six months or so. What we’ve learned already is this: It’s much easier to find simple, cheap life insurance rates than to find anything resembling easy, SIMPLE answers to health insurance for Medicare clients.
I always had this vague idea that Medicare would resolve all our problems regarding health insurance, health care, etc. Somehow during all the recent furor over health care reform, I and I’m sure many others had the idea that Medicare was sort of a “home free” solution to the whole mess.
Boy, was I wrong. As best we can tell, Medicare — just basic, no-frills Medicare — is roughly equivalent to the most mediocre high-deductible 80/20 health insurance plan offered by private companies. The secret to good Medicare coverage, as far as well can tell, is in the Medicare “advantage” or “supplemental” policies you combine Medicare with. And that’s where all the choices get incredibly confusing.
Anyway, just a note for any of you who haven’t looked into it, be warned that Medicare is neither a great panacea, nor easy to wade through. Start sorting through your options early if you can.
