Quote:
Originally Posted by Hal :-)
This is just my hunch, but we should probably enjoy Medicare Advantage while we have it. It's a win-win for everyone but the taxpayer. A win for the insurance industry, the healthcare industry, and the patients. But I'd guess it may be the largest cause of Medicare going broke, and it can't last.
I don't know how the system works. But, it's intuitively obvious that Advantage plans are way over funded. They'll give you back your $99/mo, provide silver sneakers programs, free transportation to doctor and pharmacy, include drug coverage, dental, vision, etc. Given how far they'll go to get your business, it's apparent that the premiums and service fees from Medicare must be very lucrative. That's even considering they are covering the cost for the most expensive subset of the population.
|
I agree that Advantage plans may not last as long as I do. Politicians seem to agree that "entitlements" have to be dealt with and my guess is that Advantage plans are expensive to Medicare.
One other thing to consider when choosing an Advantage plan is the plan's formulary. Most plans have drugs partitioned into Tiers. Your contribution for Tier I drugs are usually $0 and go up for each Tier. There are differences in plans as to which drugs are classified into which tier so that there could be a big difference in your contribution from plan to plan. Might be Tier II in one plan and Tier III in another. Also the plans that refund some of your Medicare Part B contribution are HMO's and their networks of doctors are usually somewhat smaller. A straight Advantage plan has no refund and any doctor that takes Medicare has to take you.
Many plans and many decisions.