Leaving Out Important Facts Is The Same Thing As Wrong
Please be careful when watching YouTube (admittedly, I am on YouTube, so there’s that).
Example: Popular YouTube Channel
⚠️Medicare Advantage costs MORE than Medigap?⚠️ The numbers are in!. Looks correct, “numbers are in.”
Let’s say you are Mr Perfect and live check to check. You don’t have $1800 a year to pay for Medigap and Part D, so it is 100% rational to accept the risk.
In year 5, the bad stuff happens and you HIT the out of pocket maximum (even that is rare).
1. You pay the out of pocket maximum.
2. During that time, you have saved $1800 x 5 = $9000
3. DID YOU HAVE A CRYSTAL BALL? Mr Perfect knew that point #1 was very unlikely in his instance, and needed the money…for food.
The think-tank article points to a single year, not a series of years. The think-tank article, and the video and the underlying “evidence” do not mention this huge number of people AT ALL.
It’s not the think-tank’s job to analyze this, it is the advisor’s job, however. It is easy to gloss over this, that channel has 3-10x my views, every month. Yikes.
My point is that the facts are distorted, reframed as “evidence,” when it is not.
Feel free to leave comments and ask your questions!
KFF Link: https://www.kff.org/medicare/issue-brief/cost-related-problems-are-less-common-among-beneficiaries-in-traditional-medicare-than-in-medicare-advantage-mainly-due-to-supplemental-coverage/