Minimizing Georgia Medicare Costs

Medicare- Plans for Minimizing The Catastrophic

When it comes to Medicare plans there are two completely different routes, a Supplement Plan which is more comprehensive, but if you are over 65 you will typically have to health qualify for, pay at least $80/mo for, and add on a separate drug plan, along with separate dental, vision, hearing if desired. If you can afford that route (and health qualify) then it will minimize your costs to $0 for hospitalization and $226/year for outpatient surgery (plus $20 co pay at any doctor office for some), all with No Network restrictions.

The alternative route is the increasingly popular Advantage Plan route (Joe Namath on TV). Popular because of its price ($0/mo. for most), this route is cheaper on the front end, and conveniently bundles drug coverage, dental, vision, hearing and some other perks. But these plans have network restrictions and will have larger co-pays for hospitalization (average $300/day for 7/8 days), outpatient surgery (average $375) and Ambulance ($300) plus co-pays on certain MRI/diagnostics, chemotherapy treatments, etc.

You pay these costs up until you reach a maximum out of pocket amount (MOOP). The average MOOP is around $8,000 for these plans in South GA. If you reach this figure, the plan then pays everything after that for the rest of the year (except drug co-pays). $8,000 is still a lot of money to spend before reaching your maximum out of pocket.

There are new Low MOOP plans in South Georgia that have around $3,500 Maximum Out of Pocket. So you only need to reach $3,500 before the plan pays everything for the rest of the year (except drug co-pays). $3,500 Maximum is a lot better than having to reach $8,000. The trade-offs? These plans offer less dental, vision, and other perks and have more deductible, around $750 (though you do not have to pay toward deductible for routine items).

Bottom line, if you are more concerned about protecting against the catastrophic medical scenario than you are about perks, and a Supplement plan is not right for you, then one of these new Low MOOP Advantage plans can limit your costs considerably, if you are willing to live with the trade-offs. There are no health requirements for obtaining these and you can switch to one during upcoming Annual Enrollment, Oct 15-Dec 7^th.