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Choosing best insurance and insurance at Mayo
Visiting Mayo Clinic | Last Active: Jan 18 12:42pm | Replies (36)Comment receiving replies
Medicare Advantage Plans incorporate private insurance companies such as Blue Cross/Blue Shield, Aetna, and others that contract with the Centers for Medicare (CMS) to provide health insurance. How does this work? You sign up for Medicare Part A (no cost to you) and also are required to sign up for Medicare Part B ($174.70/month). If you are getting Social Security, Part B is automatically deducted from your Social Security check. You find the Medicare Advantage Plan that works for you (this is called Part C). The Part B amount you pay via your social security is directed to the Medicare Advantage Plan you choose to provide your Medicare Advantage insurance.
And yes, these Medicare Advantage Plan companies blast us with ads, mailings, and the like this time of year because we are in the “Open Enrollment” period from Octover 15 to December 7. They want your money and they want to make a profit on your health care.
Compare Original Medicare & Medicare Advantage:
So, bottom line is this. Traditional (Original) Medicare has been around for a long time. Medicare Advantage Plans came about later and both are available to you.
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In 1997 the program then called “Medicare Choice,” became official with the passing of the Balanced Budget Act. In 2003, Medicare Part D was created, and Medicare Choice plans were renamed to Medicare Advantage plans.
1) "Obamacare" obligated insurance companies to pay out 80% in services or give a credit to beneficiaries – in fact my Medigap premium stopped increasing 10% each year with it! When I bought my Medigap plan, the insurance brochure proudly announced they paid out 67% in services. People under employer plans did not get a credit because employers kept the extra money.
2) Obamacare mandated that health institutions/doctors had to digitize their records and make them available to patients to facilitate changing of doctors. The added benefit that saved me much pain and provided me with a much better prognosis is that I could read my tests online and I knew my specialist was inadequate.
I had original Medicare and therefore I could self-refer to Mayo Clinic – and I thank my lucky stars I did not have an Advantage Plan!
Check the Mayo Oncology Dept – they give out brochures on what to do when your insurance company refuses to pay for your cancer treatment – they recommend checking your benefits with your insurance company and they note that original Medicare patients do not have this issue. I could not believe my eyes when I saw that and I tell everybody – you get sicker with age, do not buy an Advantage Plan