A Smarter Buy from A Medicare Recipient
When we reach the age of 65 and retire, we think that we live with a stable income and realize that there is a luxury and a “pleasure” that we can’t wait to be able to give up our last years. Maybe we give up some of the services we paid while we were busy, leaving us more free time when we were not working. We are a little more aware of every new addition to our budgets and we not only have to think about how to save money on services; also, we need to insure ourselves from unanticipated costs that might not be practical or even expensive for our pockets.
There is no doubt that the top or the bottom of the list is about how we can ensure we receive the medical treatment we want or need and protect ourselves from the potentially important medical bills that can come with it age. Let’s say the truth; we are not getting younger, and as we get older, it is inevitable that at some point we will need serious medical care. With rising medical costs, even a temporary hospitalization may cost 10’s of thousands of dollars.
Most of us are lucky to have Medicare A and B coins as the main cover. Of course, we have spent most of our working life in the Medicare system and most of us will continue to pay at least $ 110 per month for Part B (in 2010). It is however, not much to pay for 80% coverage of medical expenses after medium to small size franchises for hospitalization and outpatient services. The problem is that an additional 20% is not covered. What’s the best way to make sure you’re not exposed to this 20% (which you want to protect in case of disaster) can cost tens of thousands of dollars – as medical expenses?
However, Medicare Advantage plans are not really supplements, especially because they do not integrate Medicare A and B components. Medicare Advantage programs effectively replace Medicare A & B components and must at least benefit from Medicare Advantage as good or better coverage when compared to normal health insurance. The benefit (if you do) of these diets is that they usually cost less than Medicare supplements. They often include coverage of Part D medications and sometimes additional benefits such as teeth and / or vision. It looks fantastic on the surface, does not it?
Here is the problem of Medicare Advantage plans. They usually have small networks especially in rural areas. You need to visit some doctors and hospitals (and these may not be the ones you want to visit). Also, the private insurers can now determine whether a medical treatment is needed. In addition, many beneficiaries believe that the plan has anonymous gaps in coverage that offer comparable coverage only if they have Medicare coverage. Remember, plans only need as much coverage as Medicare or better.