Medicare: keep your health in check

Medicare is a government-sponsored health insurance program for individuals over 65 and some with disabilities. It covers hospital, medical, and prescription drug expenses. Private insurance companies offer Medicare Advantage (MA) plans, an alternative to traditional Medicare. These plans cover all the services that Original Medicare covers and offer additional benefits such as vision, hearing, and dental coverage in most cases.

1.    Eligibility: Individuals enrolled in original Medicare and living in the plan's service area are eligible to enroll in an MA plan. It's important to note that individuals must continue to pay their Medicare Part B premium in addition to any premium charged by the MA plan. Variable Universal Life insurance offers flexibility and investment options with a death benefit. Policy premiums and death benefits can change based on the performance of underlying investments.

2.    Cost: Medicare advantage in New York can vary depending on the coverage offered. However, they often have lower out-of-pocket costs compared to traditional Medicare. The amount you pay for an MA plan may include a monthly premium, copayments, and coinsurance. Some plans may also have an annual out-of-pocket maximum.

3.    Advantages: One advantage of enrolling in an MA plan is the added benefits not covered by traditional Medicare, such as vision, hearing, and dental insurance. MA plans may also have lower out-of-pocket costs, and some plans offer prescription drug coverage as part of the plan. Additionally, MA plans may have networks of providers, which can make it easier to find a doctor or hospital that participates in the plan.

In conclusion, Medicare Advantage is a viable option for those enrolled in original Medicare and looking for additional coverage or lower out-of-pocket costs. It's important to carefully review the coverage and costs of the various MA plans available to determine the best plan for your needs.