The word is out. It just doesn’t make sense to enroll in Medicare and not seek additional coverage. Whether you choose a Medicare Advantage Plan or go with a stand alone Part D Drug Plan and a Medicare Supplement, AARP Medicare Plans are worth taking a look at.
Original Medicare entails too much financial responsibility for most people. Medicare was never intended to provide 100% protection from financial exposure due to health related claims, but rather a safety net.
Medicare Part A offers protection from hospital stays, but your share of the cost is high.
- 2013 Part A hospital deductible is $1184 (covers 1st 60 days).
- 61st through 90th day requires a $296 per day co-pay.
- 91st day and after (up to 60 reserve days) $592 per day co-pay.
- Once lifetime reserve days are used, Medicare pays nothing.
Your responsibility for out-patient charges is also steep. Medicare covers 80% of allowable charges and you are responsible for 20% of the charges. Keep in mind that most medical procedures today are performed on an out-patient basis.
Pay me now or pay me later
AARP Medicare Plans are underwritten by United Healthcare and the Medicare Advantage Plans carry the Secured Horizons brand. Whether you are looking at AARP Medicare Complete or AARP Medicare Part D prescription drug coverage along with their Medicare supplement you certainly have some choice.
Pay me later!
The AARP Medicare Complete Advantage Plan by Secured Horizons is an affordable option for those people who either don’t want to pay a premium for a Medicare supplement or are not able to afford the premium. For instance, Medicare beneficiaries in Escambia County Florida, often choose the Medicare Complete Choice Plan 2 Regional PPO. This AARP Medicare Complete plan is available without a monthly premium and Part D coverage is included.
A Medicare Advantage Plan requires, in many instances, co-pays, deductibles and a defined level of cost sharing in general. So don’t pay to sign up, but share the cost later when service is required.
Pay me now!
When you enroll a stand alone AARP Medicare Part D Drug Plan and purchase an AARP Medicare Supplement, you are paying up front to limit your liability. You will pay a monthly premium, in addition to maintaining your Medicare Part B premium. AARP Part D Drug Plans work the same whether it is included in your Medicare Complete Plan or whether you are in a stand alone plan. You will have co-pays and be subject to the limits of coverage and have a list of included drugs, known as the formulary.
AARP Medicare Supplement insurance consists of standardized plans that offer varying degrees of coverage to fill in the gaps left by original Medicare. Medicare supplements are also known as Medigap insurance.
AARP Medicare Supplement Plan F has been by far the most popular plan that they offer. But the Medicare Modernization Act has created a new plan. AARP Medicare Supplement Plan N is expected to become quite popular.
Plan N is more affordable option and offers a small amount of cost sharing. For instance you may have a co-pay up to $20 for a doctor’s visit and up to $50 co-pay for an ER visit and be subject to the Part B deductible (currently $140).
AARP Medicare Plans are worth checking out
AARP puts their brand on many types of insurance. AARP could lose some of it’s good will if it chose the wrong partners. One thing they bring to the table is a higher level of customer service. The insurance companies that partner with AARP are held to a higher standard. This is good for the customer.
Don’t over look AARP Medicare Plans when deciding which Medicare supplement or Advantage plan to choose. If you are in the market for an Advantage Plan, definitely consider the AARP Medicare Complete Plan. There are 3 AARP Medicare Part D plans to choose from. Do your homework and get the best plan for your health and budget.