- This figure was also presented in the national study report (p.1) listed above. It states that compared to Medicare Fee-for-Service, Prescription Drug Plans, and Medigap Plan G, Medicare Advantage Prescription Drug beneficiaries spent on average $2,434 less annually on health care.
You Can Count on Us
Our dedicated team of client advisors is here for you at every step. If you’re interested in learning about what Medicare Advantage can do for you, we’ll help you…
- Compare your current plan to other coverage options
- Decide on the right plan for your needs and budget
- Seamlessly adjust your current coverage or switch to a new plan
Call now or schedule an appointment to review your options and get answers to all your plan-related questions.
866.557.1313
How much will I pay for a Medicare Advantage plan?
Costs vary based on the plan you choose. Medicare Advantage plans, unlike Supplement plans, have low or no monthly premium—so your monthly costs will likely go down if you switch. With Medicare Advantage, you pay as you use your plan. Copayments (“fee for service” at the doctor) and coinsurance are low, predictable costs on Medicare Advantage plans.
What's so special about Medicare Advantage?
From junk mail to Joe Namath commercials, you’ve likely heard a lot of buzz around Medicare Advantage plans—and it’s not unwarranted! Where certain Supplements used to be considered the “Cadillac” of Medicare plans, times are changing. Medicare Advantage offers wide networks, low costs, and all-in-one coverage. Thanks to funding from the federal government, Medicare Advantage plans continue to become stronger every year by offering greater value and enhanced benefits.
Medicare Advantage plans typically provide benefits worth over $1,200 annually. Insurance companies have greatly enhanced their Medicare Advantage benefits. Some benefits you might expect to see include a grocery gift card and dental, vision, and hearing flex spending. These perks are on top of Medicare Advantage’s existing benefits—often including dental, vision, hearing, and prescription drug coverage, telehealth, fitness memberships, over-the-counter allowances, and more.
You have a team of client advisors at your disposal. We’re here to help with all your health insurance needs. Call us at 866.557.1313.
Source Information From Our Mailers
If you received mail from us recently, you likely saw us use some numbers to talk about Medicare Advantage. Here’s more detail on our sources.
On average, our clients saved more than $1,800 a year on their health care costs with Medicare Advantage.
- Our data team calculated this figure based on information from our clients. In addition, this figure is supported by a 2021 national report (p. 3)—which states that Medicare Advantage Prescription Drug (MAPD) beneficiaries spent $1,803 less on average annually (compared to Medicare fee-for-service and standalone prescription drug coverage).
- Further, this figure is supported by Better Medicare Alliance’s 2021 “State of Medicare Advantage” report, which reported that consumers on Medicare Advantage saved $1,640 annually on average compared to Traditional Medicare (p. 2).
Medicare Advantage has a satisfaction rate of 98%.
Like the cost-savings figure above, this percentage was also reported by Better Medicare Alliance’s 2021 “State of Medicare Advantage” report (p. 3).
The built-in benefits of a Medicare Advantage plan are worth an average of $1,200 a year.
The Kaiser Family Foundation calculated this figure based on the average health care spending of Medicare beneficiaries in 2016. According to their report, beneficiaries who switched to Medicare Advantage spent an average of $1,253 less annually on their Medicare costs.
Medicare Advantage beneficiaries spend 41% less on average.