Medicare Advantage

Co-Pays – Medicare Advantage plans have set co-pays for your services as you use them, think of it like a menu where you pay $x amount every time you go to the doctor and higher amounts per day in the hospital.

Networks – Similar to employer coverage, Medicare Advantage plans want you to stay within their network of doctors and hospitals. Going out of network will result in your paying a higher co-pay or 100% of the cost, depending on which plan you choose.

Catastrophic Coverage – Medicare Advantage plans limit your maximum out of pocket around $6,000 per year, but that still amounts to a large sum of money that many people simply don’t have budgeted for their healthcare. It is especially expensive when someone gets sick towards the end of the calendar year because their maximum out of pocket limit will reset on January 1. 

Coverage for Cancer – Typically Medicare Advantage plans have a 20% coinsurance for cancer and chemotherapy.