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The Water Cooler
General Discussion
Medicare enrollment before Dec 7th. Additional plans, costs and penalties.
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<blockquote data-quote="trickormate" data-source="post: 3460142" data-attributes="member: 3366"><p>Most that are in Medicare Advantage plans get in these plans due to the low cost or no cost of the premium. But they forget they have a 1-5 day hospital stay of $250 or more regardless of how many times they end up in the hospital. You end up paying more then what Part B Medicare allows, their is more out of pocket then those that are on a Medicare supplement at the end of the day.</p><p></p><p>The other reason why these plans have a no cost or low cost premiums is because the government is paying the remaining balance for you to the insurance company.</p><p></p><p>Insurance agents love selling these plans because they never get charge backs, what that means you can't cancel and the insurance company charge them back the commission they paid them.</p><p></p><p>They are good plans for the healthy people, for those that are sick, they end up with a pile of bills and one last thing. The hospital or Dr's most of the time want their money upfront,since they know you're paying them first and Medicare isn't.</p><p></p><p>For the record I'm a Broker, not an agent. I work for the client and not for the insurance company.</p><p></p><p>PM me and I'll educate on both. I'll forward you my phone number.</p><p></p><p>Regards,</p></blockquote><p></p>
[QUOTE="trickormate, post: 3460142, member: 3366"] Most that are in Medicare Advantage plans get in these plans due to the low cost or no cost of the premium. But they forget they have a 1-5 day hospital stay of $250 or more regardless of how many times they end up in the hospital. You end up paying more then what Part B Medicare allows, their is more out of pocket then those that are on a Medicare supplement at the end of the day. The other reason why these plans have a no cost or low cost premiums is because the government is paying the remaining balance for you to the insurance company. Insurance agents love selling these plans because they never get charge backs, what that means you can't cancel and the insurance company charge them back the commission they paid them. They are good plans for the healthy people, for those that are sick, they end up with a pile of bills and one last thing. The hospital or Dr's most of the time want their money upfront,since they know you're paying them first and Medicare isn't. For the record I'm a Broker, not an agent. I work for the client and not for the insurance company. PM me and I'll educate on both. I'll forward you my phone number. Regards, [/QUOTE]
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The Water Cooler
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Medicare enrollment before Dec 7th. Additional plans, costs and penalties.
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