You can choose Original Medicare or Medicare Advantage. Original Medicare does not have any limit on the 20%, but you can purchase a Medicare supplement insurance policy to limit your out of pocket expenses. Medicare Advantage plans have copays and out of pocket limits built in to limit expenses.
Original Medicare plus Medicare supplement insurance covers most or all of your Medicare approved hospital and doctor expenses. You can add Medicare Part D prescription coverage and dental, vision and hearing coverage. You can use any hospital or doctor that accepts Medicare.
There are 10 different Medicare supplement plans, but the most popular are plans F & N. Plan F pays 100% of Medicare approved Part A & B out of pocket costs. Plan N pays all but a small annual deductible and a small office visit copay. View Medicare Supplement Comparison Chart
Medicare Advantage plans generally have lower premiums than Medicare supplement insurance plans, but that's because you have to pay more out of pocket when you receive your hospital and medical services. The "Advantage" would be that you have all your benefits in one plan and the premiums are the same for all people regardless of age. The premiums generally lower than Medicare supplement plans and are the same whether you are disabled, age 65 or age 95.
Call us! We are here to help. These plans can be very complex and it pays to have the help of an independent broker to guide you through the process. We can arrange a meeting at our office or in the comfort of your own home. Call