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The Water Cooler
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Medicare with Open Eyes
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<blockquote data-quote="Dale00" data-source="post: 3690497" data-attributes="member: 688"><p>I suspect that the people with the knowledge to best compare the value of supplemental Medicare coverage against Part A and Part B alone are people who work in medical billing. Beck asserts that amounts billed are "fictional" ....that is to say absurdly high and never paid by Medicare. Perhaps he is cherry picking his examples...I do know there is at least some truth in his assertion.</p><p></p><p>Human nature is to champion whatever decision/purchase we have already made or whatever has been earning us money (e.g. insurance sales).... no offence intended but confirmation bias is a powerful force.</p><p></p><p>Insurance companies work to have nice, good guy representatives .....and to scare you....</p><p></p><p>Yes - I agree that the decision very much depends on how much retirement income and savings you have. On the other hand, "insurance poor" is a real thing and insurance companies are milking the public with the complicity of our congress critters who are receiving "benefits" from them. It would be excellent to have an analysis of how much money is needed to bypass the additional high costs of supplemental coverage.</p><p></p><p>Re Westfall's rebuttal of Beck....Wow! is Westfall ever a marketer: American flag waving next to him............photo of happy victorious seniors punching their fists in the air to accentuate his point. He claims to be fighting for seniors and totally independent but the reality is he makes money selling supplimental plans and Beck is goring his ox.</p><p></p><p>I appreciate all of your points of view.</p><p></p><p>The following appears to be useful information pointing towards to benefits of passing on the supplemental coverage. If you have a rebuttal of this or alternate data please post it.</p></blockquote><p></p>
[QUOTE="Dale00, post: 3690497, member: 688"] I suspect that the people with the knowledge to best compare the value of supplemental Medicare coverage against Part A and Part B alone are people who work in medical billing. Beck asserts that amounts billed are "fictional" ....that is to say absurdly high and never paid by Medicare. Perhaps he is cherry picking his examples...I do know there is at least some truth in his assertion. Human nature is to champion whatever decision/purchase we have already made or whatever has been earning us money (e.g. insurance sales).... no offence intended but confirmation bias is a powerful force. Insurance companies work to have nice, good guy representatives .....and to scare you.... Yes - I agree that the decision very much depends on how much retirement income and savings you have. On the other hand, "insurance poor" is a real thing and insurance companies are milking the public with the complicity of our congress critters who are receiving "benefits" from them. It would be excellent to have an analysis of how much money is needed to bypass the additional high costs of supplemental coverage. Re Westfall's rebuttal of Beck....Wow! is Westfall ever a marketer: American flag waving next to him............photo of happy victorious seniors punching their fists in the air to accentuate his point. He claims to be fighting for seniors and totally independent but the reality is he makes money selling supplimental plans and Beck is goring his ox. I appreciate all of your points of view. The following appears to be useful information pointing towards to benefits of passing on the supplemental coverage. If you have a rebuttal of this or alternate data please post it. [/QUOTE]
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