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"You didn’t come this far to stop now"

Choices to Be Made !!!!

Medicare Supplement (Medigap)

Medicare Advantage

Original Medicare Parts A & B

Whats the Difference

Basically: "Pick one of these 3 Options"

A Medicare Supplement allows you to see any Dr. or Use any Medical facility that accepts Medicare. See Medicare and You

You never have a co-pay or a deductible. Your cost per month will depend on age and can start at $125.00 and Higher per month plus your Part B Premium which in 2024 is $175.00 per month. Add dental & prescription drug coverage and the total cost is $375.00 a month

A Medicare Advantage Prescription Drug Plan (MAPD) will normally have a $0.00 monthly premium, but will have Co-Pays to see Doctors and to use the medical facilities These can range fron a few dollars to see a Dr. up to several hundred per day for a Hospital visit, The Good news is there is a cap per year of Out of Pocket Expense which can range from several thousand up to a max by law of of $9400 per year. Some plans are as low as $3900 but often also have a premium per month

Original Medicare Parts A& B allows you to see any Doctor or use any Medical Facility that accepts Medicare. But you have Deductibles and Co-Insurance.

Part A Most people are entitled to Part A for free and it pays all in- hospital costs after paying $1,632.00 deductible. That is per benefit period. If you are admitted, and then out of the hospital for 60 days a new benefit period begins and you will pay another $1,632.00 You could have several separate benefit periods in a single year.

Part B Pays 80 % of most services outside of the hospital and you pay 20%, It must be noted here There is No Cap on total Part B cost

Link to Medicare & You

MAPD Plans

Most people today, especially if they consider themselves healthy, will choose to purchase a MAPD. This is primarily because of cost and the extra benefits they receive.

Most MAPD plans have a $0.00 monthly premium they often provide a return of a portion of your Part B premium, Dental and Vision Insurance, Gym memberships, healthy benefits allowance cards that you can use for over-the-counter items, some allow the purchase of groceries. They cap your medical costs ranging from $2900 to $9400 per year

At least once a year during the open enrollment period you can change plans, join as a new member No Pre Existing Conditions can exclude you from changing plans or joining a MAPD plan.

Medicare Supplement Plans

These plans offer the most extensive coverage but have the highest premiums. These plans provide the most comprehensive coverage but come with the highest premiums. You can visit any doctor and use any medical facility that accepts Medicare. Typically, you will pay $174.70 per month for Part B coverage, plus an additional $100.00 to $125.00 per month for a Medicare Supplement plan. You can expect a yearly increase in both the Part B and the Supplement plan cost of about 2 to 4%.

If you choose to add Dental, Vision, and Prescription drug coverage, this will cost an extra $75.00 per month on average, bringing the total to approximately $375.00 per month. Again these costs generally increase by a few percentage points each year.

The good news is that you will never have a copay for any medical treatment. Another significant advantage of joining in the original open enrollment period is that you can not be denied coverage, no pre-existing conditions apply. As we age and require more medical care, it becomes harder to join these plans unless you can pass medical underwriting. Pre existing conditions can increase your cost or deney you the bility to join a Supplement plan

Original Medicare

If you purchase just Parts A & B you have reasonable medical coverage but you leave a 20% un-capped expense for medical treatment outside of a hospital. Your Dr. visits, and any diagnostic tests leave you paying a full 20% of all of the costs. You still must purchase the Part B insurance costing $174.70 per month. You also have a deductible to pay for every hospital stay of $1632.00 per benefit period. You can have several separate payments in a year.