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Medicare Misconception “Medicare Advantage plans are costly”

Medicare Advantage (MA) plans are increasingly the preferred choice among Medicare beneficiaries. They’re more robust than ever, offering the opportunity to save money and enjoy even more benefits. However, these affordable plans can often be viewed as costly. 

If you’re curious about what an MA plan costs, our advisors have outlined what you need to know. 

What does a Medicare Advantage plan cost?

MA plans include hospital and medical coverage - Medicare Parts A and B, as well as prescription coverage and multiple additional benefits. 

With an MA plan, you can expect stable $0 to low premiums, along with fixed co-pays and low, predictable out-of-pocket costs. On this type of plan, you pay as you use it. For example, you pay a co-pay when you have a doctor visit. 

Additionally, MA plans feature an out-of-pocket maximum that caps how much you’ll spend on health care expenses in a calendar year. This cap serves as a safety net for your budget. It’s important to note that an out-of-pocket maximum is not the same as a medical deductible.

Overall, MA plans can help you better plan for and manage your costs, which is why many RetireMed clients are enrolled in this type of plan. 

Extra Perks

You may have heard about the extra perks offered by MA plans. These plans include a variety of useful benefits, such as:

•    Dental, vision, and hearing coverage 
•    Grocery gift cards
•    Allowances for over-the-counter products
•    A fitness benefit
•    A flexible spending card for dental, vision, and hearing services
•    And more

Certain benefits can differ among MA plans, so reach out to our team if you’d like to review the specifics of your plan options.

Questions? We’re here to help!

If you’re a RetireMed client and want to learn more about MA plans, contact us at 877.222.1942.

Not a RetireMed client? Contact us at 866.407.5180 for local help with Medicare and individual health insurance!



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