Your costs in a Medicare Advantage or other Medicare Health Plan
What you end up paying each year for health care depends on a variety of factors. It is worth taking the time to sort these out to find the coverage that works best for you. Here are some key factors to take into account when considering a Medicare Advantage or other Medicare health plan:
- How much does the plan cost per month?
- What type of health care might you need?
- How often do you visit your doctor?
- Does the plan reduce your Medicare Part B premium?
Some Advantage plans pay all or part of your Part B premium ($88.50 in 2006). In these cases, you still receive all of the Part B coverage.
- Do you prefer the simplicity of paying only one premium a month?
Medicare Advantage and other Medicare Health plans have one premium that covers Parts A and B, prescription drug coverage and any extra benefits.
- How much do you pay under each plan for a health care visit (copayment)?
- What extra benefits does the plan offer?
- What type of prescription drug coverage does the plan offer?
Starting in 2006, Medicare offers prescription drug coverage. For full details, please see our feature explaining the details of Medicare Part D* . Most Medicare Advantage Plans also offer prescription drug coverage. If you get your prescription drug coverage through an Advantage or other plan, it may save you money.
Check the plan you are considering (or already have) to be sure it has the coverage you want. If you decide to switch to the Medicare drug plan, you can save yourself a penalty by doing so before May 15, 2006.
Also be aware that plans can change their prescription drug policies each year. It’s important to consider how any changes affect you.
*You may be able to get extra help to pay for your prescription drug premiums and costs. To see if you qualify for getting extra help, call:
- 1-800-MEDICARE (1-800-633-4227). TTY/TDD users should call 1-877-486-2048, 24 hours a day/7 days a week;
- The Social Security Administration at 1-800-772-1213 between 7 a.m. and 7 p.m., Monday through Friday. TTY/TDD users should call, 1-800-325-0778; or
Your State Medicaid Office
Request a free quote from Health Insurance Carriers offering Medicare Supplementary Care in your state >>
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