_e world of Medicare is quite complex, but most seniors find themselves in one of two scenarios, either covered by original Medicare (A & B) with a Medicare Supplement, or by a Medicare Advantage Plan. Each plan has unique benefits and challenges, and understanding the differences is vital to make sure your coverage meets your needs.
Medicare Advantage: Advantage plan premiums are either very low or non-existent, making them an incredibly popular option. Because premiums are so low, the cost of using the plan is usually much higher. Seniors who are generally healthy and don’t use their plans often can come out on top, but things like MRI’s, CT scans, hospital stays, and durable medical equipment can be very expensive. On specific services like those I just listed, your cost is normally a copay or coinsurance. As the cost of healthcare increases, we’ll begin to see Advantage plans reduce benefits across the board. _ere is no hiding from inflation in this market.
_e high costs can be daunting, but the “useability” of the plan is what seniors find even more challenging. Most Medicare Advantage plans have networks that you must use. You cannot simply call the specialist a friend recommended. _e process, which can be frustratingly slow, starts with you reaching out to your primary care provider and working through them.
