Medicare Supplemental Insurance

For those of you on a Medicare Advantage plan, if you have not taken a look at the benefits that are being offered for next year, we recommend that you take a look and compare them to what your benefits were last year.  What we have noticed for a lot of the plans is that they are keeping the monthly premium and Doctor office co-pays pretty close to what they were last year, its the hospital copay and out of pocket maximum is where the biggest change is.

A lot of the plans now follow the per day copay for each visit to the hospital which could be somewhere in the neighborhood of $200 on up to $250 per day for the first 7 days or more.  This per day charge can add up pretty fast considering the average stay is somewhere between 5 and 7 days.

The other major change so a lot of the Medicare Advantage plans is that your exposure our out of pocket maximum has jumped.  Depending on the plan you could be responsible for $5000, $8500 or more if you are getting benefits out of the network.

Yes these plans work great for some people, however the most important factor is that you know what your responsible for with any plan you choose.

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