2012 Medicare Advantage Maximum Out-of-Pocket Costs
Medicare Advantage maximum out-of-pocket limit a benefit
When comparing Medicare Advantage Plan benefits, don’t overlook what may be the single biggest benefit of all – the Medicare Advantage maximum annual out-of-pocket expense. It’s true that Medicare Advantage Plans include many cost saving benefits but the single benefit that could save you the most is the limit on your out-of- pocket expenses.
Original Medicare has a set hospital deductible and you are generally limited to a 20% coinsurance amount, but 20% of what? With the cost of medical care rising faster than other segments of the economy, you could easily find yourself with thousands of dollars in medical bills. The fact is, original Medicare does not offer the beneficiary the safety net of a maximum amount out-of-pocket expenses like a Medicare Advantage Plan.
Compare Medicare Insurance Quotes
Comparing 2012 Medicare Advantage Plans
When comparing 2012 Medicare Advantage Plans at the Medicare website,
you will find the name of the plan, the plan’s premium, the Part D premium, the Part D deductible, and a star-based rating system. You can also see the maximum amount you could be required to pay. The Medicare Advantage maximum-out-of-pocket amount for 2012 is $4700.
It’s up to you to do your homework and evaluate the Medicare Advantage Plans that you have an interest in, by digging a little deeper than just researching premium amounts and doctor co-pays. Out-of-pocket maximums can vary widely.
Don’t overlook this important feature of Medicare Advantage Plans. You may think that you have the best plan because of the premium amount or low co-pay amount but if your out-of-pocket maximum is much higher than other plans, you may find yourself with a greater expense in the long run.
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