Not Buying Any of It

So many things on my mind that I decided to nix getting a used car this year.

Instead I need to concentrate on that annual October ritual of reviewing and renewing my health insurance plan. I'm so glad for Medicare but I still need to shop for health insurance that Medicare doesn't cover. Why, as we get older, do insurance companies pile on the paperwork - and then not cover glasses? I suspect that seniors are the least likely to read and know exactly what's in our policies. Yet, we are expected to comparison shop in the name of "freedom of choice." In the meanwhile, sharp-eyed health companies look at their numbers and make projections about coverage and cost that we are not privy too.

My deductible for retiree health insurance benefit from General Mills increased from $2432 to $2520 along with a premium increase of $36 for Basic Blue BCBS. General Mills offers me a credit of $152 for my 10 years of service and that reduces my monthly health insurance premium to $159.  I need to know the downside of walking away from that money and buying a lower priced health plan that includes "Silver Sneakers." It seems like a UCare for Seniors plan is an option because the premium is lower and it does not include a deductible.

One of those MN health insurance brokers impressed upon me the importance of this question: Are my out-of-pocket expenses for prescriptions included in the $2520 deductible retiree plan offered by Gen Mills? If yes, my current plan is a very good plan and I should stick with it - according to him. But when I called the GM Retiree benefits hotline, I was told that my out-of-pocket expenses for Rx are not included in the deductible. Now I am confused about whether or not I should continue or change plans. Elephant in the room is that if I drop the GM retiree plan, I can never go back to it.

Living forward: more investigating of health plans
Looking back: so glad I've lead a healthy life and take few drugs!