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Nov 7, 2024
10:47:25am
happyhiker 3rd String
Here's some insight for all on Medicare Advantage vs Medicare Supplements:
Feel free to DM me or I also run Dr. Barben's Insurance if you prefer to look me up. I'm a pharmacist that was always explaining Medicare copays and plans to seniors anyway, so I decided to become an agent. Note: You don't have to pay agents to meet with us, we are paid by insurance companies.

Medicare supplement: typically $100 to $400 a month premium (as we age it goes up). Also a part d plan premium for drug coverage, and if dental and vision is needed, then another premium for that. So even if you don't ever go to the doctor or hospital; supplements, part D, dental and vision premiums can easily total $3000 to $4,000 a year. Benefits: You can go to any doctor nationwide that accepts Medicare. After paying your $263 deductible, if the medical service or procedure is covered under Medicare you pay a $0 copay for services, hospital etc.

Medicare Advantage: Medicare Advantage plans incorporate part A b and d in the same plan. Many of these plans have a $0 premium (instead of say 200 dollars a month for a supplement). The part d plan is included and so there's a $0 premium for that as well. Many plans have very good dental and vision coverage included with 0$ premium. And your normal family practice Doctor is covered at a $0 copay. So if you are very healthy and don't go to the hospital much, You can have great coverage, literally spend $0 the entire year and save that $4000 you would have spent on a supplement. Potential drawbacks: Your doctor and hospital have to be in network. There are co-pays for many things. You might pay $125 to go to the emergency room or $250 to have an ambulance ride or $400 a day for the first 5 days in the hospital. The max out-of-pocket health spend is typically capped at between $5000 and $8,000 a year.

I consider a Medicare supplement almost like renting a house. You pay a monthly rate and if the sink is broken you don't have to pay a plumber a copay of $200 to fix the sink.
Medicare Advantage is like owning your house outright. There are no monthly payments, but if the sink breaks you are paying the plumber a $200 copay.
happyhiker
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happyhiker
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Aug 23, 2019
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Nov 7, 2024
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