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Will Medicare Advantage Plans Get Their Break In 2012?

Medicare Advantage plan premiums are expected to drop by four percent next year. These plans are another way to receive your Medicare benefits. Advantage plans replace Original Medicare Part A and B benefits with coverage through a private insurance company.  Most Medicare Advantage plans add extra coverage to be competitive. For example, many help with dental services, eyeglasses, hearing aids and prescription drugs. You’ll find that Medicare lacks that kind of coverage, with one exception. It does help if you develop cataracts.

Medicare Advantage plans aren’t the only coverage that you’ll see changing next year. Medicare recently announced what will happen to Medicare Part B premiums.  They will increase, but not as much as predicted.  Although premiums will increase, we will see a decrease in the Part B annual deductible. This year, it’s $162, but next year, it will only be $140.

One big selling point for Medicare Advantage plans is that while they usually expand on Medicare’s coverage, they may not cost any more than the Medicare Part B premiums you already pay.  That’s because these plans are subsidized by the federal government.  Another major attraction is that Medicare Advantage plans accept applications from people who have a health problem, with the exception of End Stage Renal Disease.

I know it really sounds good, and one of the Medicare Advantage plans may be just right for you, but there are some things you need to understand about these plans before you enroll.  With the exception of emergency treatment, these plans restrict coverage to services from their own list of doctors and hospitals.  And, a plan may not cover every prescribed medicine, so be sure your medication will be covered by a plan before you enroll. To find out more about the plans that are available where you live, you can request free quotes on our website or call us and request a free confidential consultation.

Jim McFadden has over 11 years of executive-level experience in the health insurance industry, is a youth baseball, softball and football coach, and has one of the worst fantasy football records in the world.


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