October 20, 2006, Newsletter Issue #75: Medicare Advantage Plans
Tip of the Week
A Medicare Advantage Plan has the benefits of Medicare - coverage for doctor's visits, hospital stays and Hospice care - with the benefits of a prescription drug plan.
Currently, if you are eligible for Medicare, you are eligible to apply for a wide range of plans, from Medigap to Medicare Prescription Drug Benefit Plan (Part D). If you already have a good healthcare insurance plan, you may want to consider whether changing to a Medicare Advantage plan is right for you.
Weigh the risks and benefits:
1. Will you lose coverage with your
original Medicare or insurance plan?
2. Will your premiums or drug costs
increase?
3. Will your prescription drug co-pays be
more expensive?
4. Will choosing the Medicare Advantage
plan negatively impact your ability to
get your medicare diabetic supplies?
If the answers to these questions is a resounding "no," then perhaps a Medicare Advantage Plan is for you.
Contact your local Social Security Office, the Medicare hotline at 1-800 MEDICARE, or log onto the Medicare website at: MEDICARE.GOV, to get more information on Medicare Advantage Plans.
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