The second "pro" that is generally overlooked is that the richest of all plans, Plan F, pays 100% of your out-of-pocket expenses associated with a Medicare-approved benefit.
So, that means if you have AARP Medicare complete a Medicare-approved hospitalization, a doctor's visit or another medical exam, Medicare and your plan will pay 100% of the costs of medical care. You will no longer have to worry about co-payments and deductibles for Medicare-approved costs.
Another important "pro" is that, with a Medicare policy, you can see any doctor or specialist who accepts Medicare. You are not subject to an HMO network or the "doorman" rules.
For most people who compare Medicare supplemental plans, the ability to see any doctor who accepts Medicare is extremely important and why they chose to enroll in a supplemental plan.
The "scam" of Medicare supplemental policies
There are some "cons" that you should keep in mind.
The first "with" is that a Medicare supplement policy costs more than a typical Medicare Advantage plan (Medicare Advantage plans are the other option for paying your out-of-pocket costs and are the subject of another article).
The average monthly premium for a 65-year-old person ranges from approximately $ 127 to more than $ 200, according to the insurance company. Premiums vary from one company to another.
The second "with" is that your premium will probably go up a few percentage points each year. Therefore, it is almost certain that you will pay more for the same coverage as you get older.
The third "with" is that you must qualify medically for a supplemental policy if you are more than 6 months old at the age of 65 and do not have the current coverage.
If you apply for this coverage at age 67, for example, and you do not have longer coverage for your job, you will have to answer some questions about your medical history.
In conclusion, there are certainly advantages and disadvantages when considering Medicare supplement policy that you should know and examine carefully.
In my experience, many people turning 65 after reviewing the current advantages and disadvantages of a Medicare supplement policy concludes that it was a time spent in the process to compare Medicare supplement plans.
For more information about plan options, premiums, suitability of all Medicare supplement policies offered in your area, Medicare Advantage plans