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How much does a Medicare Advantage Plan Cost?

how-much-does-a-medicare-advantage-plan-cost
05/19/2021
  • Medicare with Melissa

Medicare Advantage plan costs will vary by:  

  • Zip code
  • Plan Type
  • Premium
  • Copays for services – remember these plans have a “pay as you go” for services provided
  • Coinsurance 
  • Deductibles
  • Maximum out of pocket expenses

Medicare Advantage plans are based on your zip code.  This determines your eligibility for a plan and any costs associated with that plan.  Costs for these plans are set by your provider, not Medicare.  Each year, new plans are announced with an outline of costs that you will pay.  It is important for you to pay attention to more than just the monthly premium cost.  Monthly premiums for these plans are low and some have $0 premium.  How much you pay for each service you use depends on the plan.  Cost vary by plan and include the following:

  • Part B Premium:  You will still pay your Part B premium of Medicare Part B Premium: $170.10 in 2022  
  • Plan Premium
  • Deductible:  A set amount that you pay before your plan starts to pay.  
  • Copay:  A fixed amount that you pay each time you receive a covered service.  
  • Coinsurance:  The amount you pay as your share for the cost of a covered medical service.  
  • Maximum out-of-pocket:  Most plans do have a maximum out-of-pocket for major medical services.  This is the most you will have to pay for covered services in a plan year.  
  • Travel:  Does this plan cover you in most states?  Review this option carefully if you travel or you can have added expenses.

Learn More: Medicare Advantage Plans: Example of Costs for Deductible, Copays, Coinsurance and more.

Related Articles: How much does Medicare Supplement Plan G cost? How much does Medicare Supplement Plan F cost?

People Also Asked: How much do Medicare Supplement Plans Cost?

People Also Read: When can I enroll in a Medicare Advantage Plan?

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Meet Melissa MacCalla

Medicare is not simple and can be hard, frustrating, and downright confusing for most. I love when I get someone on the phone and I am given the opportunity to explain the difference in plans to them and have Medicare make sense. I enjoy talking to clients year after year, hearing about their families growing or them asking about mine.

-Melissa

Oh my gosh!! I was so confused about the Medicare Supplement process. I am turning 65 soon and am retired and have always had insurance thru my former employer. I didn’t know a thing about going on Medicare and was struggling to sort it all out.

A friend of mine recommended contacting Senior HealthCare Solutions, so I did. Melissa was FANTASTIC!! She was professional, responsive, caring and friendly. She explained the steps I needed to take, gathered my information, helped me choose good plans for MY specific needs and took care of my applications over the phone. 1-2-3, eesy-peesy and I was done!! And it didn’t cost me a DIME!!! WOW!!! I HIGHLY recommend Senior Healthcare Solutions for anyone who’s overwhelmed with making the right choices with Medicare Supplemental Insurance and Rx coverage. It’ll take a load off your mind!

Janice W.

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