09/22/2024
Trying to figure out which Medicare coverage to get once you reach 65 years old is very confusing. You can get regular Medicare and then add on the Part D for medications and also a Medigap plan which covers the 20% that Medicare doesn't cover, or you can get a Medicare Advantage plan that lumps all the Part A & B & D and everything else all into one coverage.
Everybody's situation is different, so don't ask me which would be best for you! I do know that Medicare premiums are going to be rising this coming year because of changes the Federal government has been making. There will now be a $2000 out of pocket cap for your medications each year which is certainly nice for those who have to buy expensive medications. However, that money has to come from somewhere, so the premiums on everyone, whether they take expensive meds or not, will be rising.
I wasn't even aware until just recently that you had to pay for Medicare coverage!
Well, the government has a website to help you decide which sort of Medicare makes the most sense for you. It's pretty easy to navigate, though the whole topic is confusing.
https://www.medicare.gov/plan-compare/ #/?year=2024&lang=en
Also, the good folks with Summit Medical Group in Knoxville have Medicare navigators who can help our patients. Your doc can give you the contact information for them.
In the comments, I've included comparisons of some of the Advantage plans. There are far too many Medigap and Part D plans for me to attempt to sort out here.
Good luck, all you folks who are about my age!!