What is Medicare Advantage, and should the public be against it?
First, you need to know how Medicare works. Medicare is a plan of insurance that we have paid into since we ever began receiving wages. Medicare is a 2 part system (Part A and Part B). Once you turn 65 years in age, you are entitled to Medicare Part A, which covers the hospital. You are also entitled to Medicare Part B, but at a premium based on income. The starting rate is $98/month for Part B which is to cover physician services and medical services, including outpatient procedures.
Part A:
- Leaves you to pay a $1,100 deductible for days 1-60 at the hospital
- Leaves you to pay $275/day for days 61-90
- Leaves you to pay $550/day for the 91st and after
Part B:
- Leaves you to pay a $155 deductible
- after deductible you begin to pay 20% on all Medicare Approved amounts.
- Does not cover excess amounts charged above Medicare
Now, seniors, entitled to these benefits have the option of picking up a "gap" policy, know as a Medicare Supplement. By paying an additional monthly premium you can purchase a supplement policy from Blue Cross for around $129-$250/month depending on age, that will come in and cover what Medicare leaves you to pay along with the excess charges.
Now with Medicare Advantage, offered by Private Insurers, can start at $0/month for a plan that provides:
- $10-$30 copays for physician office visits
- $100-$200 copays for days 1-7 in the hospital
- FREE prescription drug card!!!!!!!!!!
- Offered in either a PPO or HMO ($/monthly)
So....for low income individuals who can not afford a Medicare Supplement plan, than a Medicare Advantage at $0 in monthly premium is the best possible health insurance plan available to them, and it provides annual physicals and dental coverage, which original Medicare or Medicare Supplements do not cover.
Hope this helps!
-THIS
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