Medicare Tips: Pay close attention to a Medicare Advantage plan’s maximum out-of-pocket limit

Pay close attention to a Medicare Advantage plan’s maximum out-of-pocket limit.

One critical benefit of Medicare Advantage plans is that they limit your out-of-pocket costs for Medicare Approved services at $6,700 or less.

In 2013 the average maximum out-of-pocket limit for a Medicare Advantage plan was between $4,000 and $5,000 (source). But, some plans had caps as low as $500 for Medicare approved services received “in-network.”

During the annual enrollment period, research the...

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From: eHealth

Related topics : medicare advantage maximum out of pocket / medicare advantage plans average cost / medicare advantage plan cost / compare medicare advantage plans / medicare advantage plan

Government Says 2015 Medicare Payments To Insurers To Rise

The U.S. government on Monday said that final payments to private health insurers for 2015 private Medicare Advantage plans would rise 0.4 percent for the average plan compared with a proposed cut of 1.9 percent. During a news briefing, the health agency said that costs for Medicare health services continued to drop and that it now expected a decline of 3.4 percent versus the 1.9 percent on which it initially based its payments. In addition, the agency said that it would delay other changes to...

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From: Wochit Business

Related topics : medicare and private health insurance / medicare advantage payments to health plans / medicare advantage plan insurance / medicare cost compared to private insurance / medicare advantage plans average cost