Medicare Advantage Plans
Hi Terry! I caught you on WGN radio yesterday talking about reviewing Medicare coverages and have heard you talk about advantage plans in the past. I’m retired from the state of Michigan and have to sign up for Medicare. I have asked former co-workers over 65 and all have chosen the BCBS PPO advantage plan through the state that has no monthly premiums. You mentioned yesterday that union-negotiated advantage plans will change less than a typical advantage plan. Should I consider original medicare? It scares me to hear that Mayo Clinic has dropped certain advantage plans and to read in the NYT that 5 million people on advantage plans will lose their coverage.
Terry Says
OK, this is tough. You have a state-negotiated plan, and it’s true that they have a lot of leverage with the insurers, and tend to have wider networks, fewer restrictions on care, and happier members. But someone has to pay for those zero-premium plans. And down the road, either the state may have to ante up more (just at a time when they can least afford it), or you may find higher out of pocket costs for this plan, or roadblocks to care. Then again, ALL traditional Medicare supplements will also increase in price, along with inflation.
The honest answer is: “I don’t know!” Would you run your question by the MedicarePocketProtector and let me know what they advise in your situation?
