Medicare Advantage Plans 2010 – Choose wisely!
Medicare Advantage plan participants have already noticed their monthly premiums have increased and their benefits have been cut for 2010. To make matters worse, fewer Doctors are accepting these types of plans especially in rural areas. As a result thousands have dropped these plans in favor of Medicare Supplement Plans or just original Medicare. The worst is yet to come.
With the sweeping healthcare reform bill, cuts to the Medicare Advantage program are being used to offset the costs associated with subsidizing health insurance for millions of uninsured individuals and families. The house and senate are proposing to cut $120 to $150 billion from Medicare Advantage plans over the next ten years. This will further increase the monthly premium for these plans, cut benefits over time, and force people to examine other options such as Medicare Supplemental Insurance.
Some areas have been hit harder than others and experts say they won’t be surprised if Medicare Advantage plans are eliminated completely in rural areas. For example, some people have seen their monthly premiums doubled or even tripled, while their copayments for hospitals and doctors have multiplied exponentially.
There will be some light at the end of the tunnel for seniors on a budget as Medicare Supplement Plan N and Medicare Supplement Plan M will be introduced to the market in June of 2010. These plans will be a low cost option and will have small copayments or deductibles. These Medicare Supplement Plans will be the best option for Seniors who currently prefer Medicare Advantage Plans.