Cost of Medicare Advantage
Our experts will help you
Are you considering a Medicare Advantage plan but puzzled by the real costs involved? You’re not alone. While the allure of a $0 premium plan sounds enticing, it’s crucial to understand the ‘pay as you go’ structure of these plans. With varying copayments for doctor visits, specialists, procedures, and more, the financial implications can be significant. Our experts delve into the intricacies of Medicare Advantage plans, discussing annual changes, open enrollment periods, and the flexibility to switch plans without underwriting. Watch our videos to gain clear insights into the cost dynamics of Medicare Advantage plans and equip yourself with the knowledge to choose a plan that suits your healthcare needs and budget.
Matt: So Medicare Advantage are generally gonna be 0 dollar premium plans. So people when they hear zero they jump up and down, like yeah of course I want the 0 dollar plan. But, you pay a sum, right.
John: You pay as you go, right
Matt: Exactly, it’s more of a pay as you go system. Copayments when you go see your doctor, when you go see a specialist, if you have a certain procedure done, blood work done, all right, there are different costs associated with that. And it’s all laid out in the plan, but those plans can change on an annual basis. So, every October 15th to December 7th is what we call our AP season. It’s a very busy season. You’ll get the bar with information, but that’s your window to be able to change your medicare advantage plan, so switching one to another. The nice part about that is that there’s no underwriting so, if you start with a plan with, you know, health care for instance and you want to switch to one with humana or whatever the name of the company, then you can do that with no questions asked. Only during that window you can’t switch other times of the year for most people unless you’re in a low income tier.