Seniors have several options when it comes to insurance for their healthcare needs.
Popular choices between Medicare Supplements, Medicare Advantage, or remaining on an employer health insurance plan, if that option is available to you
Medicare Supplement Insurance allows you to visit any provider that accepts original Medicare. Medicare typically pays 80% of the bill and the supplement pays the rest. There are several choices of Medicare Supplement plan types, but this is the most typical scenario.
Medicare Advantage plans offer comprehensive care, too, but is often perceived as a replacement to original Medicare, as you can no longer go to see any Medicare provider. As a member of a Medicare Advantage plan, you must see network providers and facilities. These providers typically charge co-payments of from $20 to $500 per use at these facilities.
It is possible for a Medicare Supplement plan to leave a remaining bill of $0 for a 10 day hospital stay. That same hospital stay with a typical Medicare Advantage plan might cost $1,800 or more, as most Medicare Advantage plans charge per-day in the hospital. This is in contracts to having a small, consistent monthly insurance premium with no other costs, as you do in the Medicare Supplement arrangement.
Having an independent agent work for you allows you to have the best advice, at no cost to you, as to which plan best suits your needs. We can help you with Medicare Supplements or Medicare Advantage advice by calling our office at 612-618-0476.