Medicarebob

We recommend Medicare Supplements (Medigap) to 95% of our clients and I will explain why. In order to better understand why, I will break down the two different types of plans that someone on Medicare can choose. The two options are a Medicare Advantage plan or a Medicare Supplement plan. Listed below is a brief, generic explanation of Medicare Advantage plans and Medicare Supplement plans: Medicare Advantage Plan • It is not a Supplement, it is a private company that provides a health plan that you will use instead of using your traditional Medicare. So, you replace your Medicare. • $0 - $100 premium depending on the plan’s location. The $134 Medicare Part B premium is no longer paid to Medicare but to the private insurance company. • Deductibles and copays up to your yearly maximum. Depending on the plan, an average of $3000 - $6000 maximum out of pocket for the year. • Networks of doctors and hospitals for HMO plans. PPO will offer out-of-network coverage but at an additional cost. • Requires