06-28-2024, 07:52 PM
While Medicare Supplement plans are all the same (except the price), Medicare Advantage plans vary widely, both from plan to plan and from location to location.
I will say this again for emphasis: even if it's the same company, MA plans from, for example, Iowa are not the same as plans from Florida. This is because the reimbursement rate is different in different locations.
Also, usually (but not always) each company offering Medicare Advantage plans in a particular location will offer multiple plans with different levels of coverage.
And finally, Medicare Advantage has improved significantly over the last several years. What was the case for MA five years ago probably isn't the case today.
Unfortunately, Medicare insurance is kind of backwards from what it should be. Med Supp premiums are much lower when you first age into Medicare at 65 and you typically are more healthy and don't need much coverage, then continue to rise as you get older and sicker. By the time you're over 80 (although Med Supp premiums vary by location), you're often looking at north of $400/month premiums.
I will say this again for emphasis: even if it's the same company, MA plans from, for example, Iowa are not the same as plans from Florida. This is because the reimbursement rate is different in different locations.
Also, usually (but not always) each company offering Medicare Advantage plans in a particular location will offer multiple plans with different levels of coverage.
And finally, Medicare Advantage has improved significantly over the last several years. What was the case for MA five years ago probably isn't the case today.
Unfortunately, Medicare insurance is kind of backwards from what it should be. Med Supp premiums are much lower when you first age into Medicare at 65 and you typically are more healthy and don't need much coverage, then continue to rise as you get older and sicker. By the time you're over 80 (although Med Supp premiums vary by location), you're often looking at north of $400/month premiums.