Allsup Finds Healthcare Costs Consuming Larger Part of Fixe...(total costs reach $4350. Co-payments app...),Health

Medicare Part C: Medicare Advantage Plans

Medicare Advantage plans, which private companies administer through the Medicare program, can offer some people savings. Everyone in a Medicare Advantage plan must pay the same monthly premium as those enrolled in Medicare Part B.

These plans, however, can have lower prescription drug premiums. For 2009, the Medicare Advantage monthly prescription drug premiums are estimated to be $11 lower than under Medicare Part D, according to the CMS.

Many of these plans also offer coverage through the donut hole - the gap in prescription drug coverage that occurs once an individual's prescription drug costs reach $2,700. The person then is required to pay all out-of-pocket costs for prescriptions until the costs reach $4,350. As a result, having a Medicare Advantage plan that provides coverage during the gap can reduce out-of-pocket expenses. Melinda Gibson, a Wyoming woman who used the Allsup Medicare Advisor program, is an example of someone who saved hundreds of dollars in prescription drug costs by choosing a Medicare Advantage program that provided coverage in the gap.

Depending upon the services selected, Medicare Advantage plans may have an extra premium or have varying deductibles and co-payment requirements. However, these plans are less costly and, particularl
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