Who Will Take Medicare Coverage?
When you are on Medicare, you can see any doctor in the country that accepts Medicare reimbursement, which is 90 – 95% of doctors available to you right now. Medicare pays doctors approximately 1/3 of what private commercial insurance companies pay.
If you take a Medicare Supplement, you may have trouble finding a doctor if you are not already an established patient. If you’re not an established patient, you might have to take a Medicare Advantage plan in order to find a new doctor.
What are My Medicare Supplement Options?
Medicare Supplement plans are standardized, meaning you can buy them from a variety of health insurance companies, and it is always the exact same plan. Plan F is an example of this and is the most popular. When you turn 65, one company might be selling the plan for $150 per month, or another for $250 per month – but they are the exact same insurance plan.
Medicare Supplements vs. Medicare Advantage
The thing about Medicare is it’s a bullet-point list of covered services, whereas private sector insurance coverage is based on whether or not your doctor says it’s “medically-necessary”. Medicare Advantage covers medically-necessary procedures, and it also pays doctors up to 15% more than what Medicare supplements pay. This is why it may be easier to find a primary care doctor if you’re on a Medicare Advantage plan.
Medicare supplement plans F will generally cost $1,600 – 1,800 more per year than entry-level Medicare Advantage plans.
You can look at it this way: having Medicare supplement plan F is like paying in advance for your medical care. Some people prefer this, so that should they need services, they are covered in full. Others prefer to pay for what’s needed, or to get their “bang for their buck”. For these folks, Medicare Advantage may be a better fit.
At Tomlin Benefit Planning, we can help you decide on a plan, based on your preferences. It will cost you nothing to meet with Jeff or any of our other agents.
Interested in attending Jeff Tomlin’s next presentation? Save the date: Tuesday, July 17th, 2018. This session will be offered at two different times: 3:00pm and 6:00pm at the downtown Eugene LCC campus . Registration will be available soon.