Why Do I Want To Enroll In A Medicare Advantage Policy? Pt 1
Medicare advantage policies are sold by private insurance companies to work with your primary Medicare coverage (Parts A and B). (Usually, you cannot get Medicare advantage insurance with a Medicare Advantage policy.) Perhaps the best reason to buy a Medicare advantage policy is to save on Medicare costs, such as co payments, co insurance, and deductibles. Visit www.medicareadvantage2019.org/ to get a quote and enroll in a medicare advantage plan for 2019.
Bear in mind that Original Medicare does not have a maximum out-of-pocket. A Medicare advantage policy is usually delivered with your own monthly premium. However, if you are looking for comprehensive medical treatment or regular hospitalizations, this policy can help you save plenty of money. Advantage medical policies are marked A-N (policies E, H, I & J have been deprecated) and not all policies are available in every area. Let’s see what costs Medicare can use to support a Medicare advantage policy.
Medicare Part A co insurance and hospital expenses
Every standard Medicare advantage policy (A, B, C, D, F, G, L, M, N) can cover the co insurance and hospital costs of Part A up to 365 days after the benefits have been used. With Part A of Medicare, the coinsurance for days 1 to 60 of hospitalization is $ 0 for each benefit period. However, with the increase in hospitalization, costs also increase. The costs of Medicare for days 61 to 90 of hospitalization in 2018 are $ 335 per day and per benefit period. A advantage Medicare policy can cover these coinsurance costs. Then, if you have been hospitalized for 65 days, a Medicare advantage policy could help cover the five days, each of which is $ 335 or $ 1,675 for your entire hospital bill. Medicare considers a limited number of hospital days for hospitalized patients age 91 and older as “lifetime reserve days.” They have up to 60 days of reserve for life. Each of these days of lifetime reserve will normally cost $ 670 per day in 2018. A Medicare advantage policy could help pay this co-insurance. If you were hospitalized for 151 days(90 days + 60 days of lifetime reserve + 1), Medicare would normally stop paying. For hospital stays of 151 days or longer, the Medicare Advantage may be available up to 365 days in total.
Medicare Part B co insurance or co payment
Most Medicare advantage policies generally pay 100% of your Medicare Part B coinsurance or co pay. The Medicare K Advantage Policy can pay 50% and the L Policy 75%. Your Part B coinsurance is usually 20% of the amount approved by Medicare for medical, outpatient and long-term medical devices. A motorized wheelchair may be an example of durable medical devices. If the amount approved by Medicare for an electric wheelchair was $ 1,500, it would normally be responsible for 20% or $ 300. A Medicare advantage policy can cover the $ 300 coinsurance. Most Medicare advantage policies, standardized in 47 states, can pay 100% for the first 3 pints of blood you receive under a medical procedure covered by Medicare.