Save Money on Medicare Plans in 2011 and 2012

Would you like to enroll in a $0 (zero) premium Medicare Advantage Plan, but don't like the Hospital and Skilled Nursing Facility copays?

For 2011, and soon 2012, there are several Medicare Advantage Plans that have a $0 monthly premium. Sound too good to be true? Well it is not. The fact is, Medicare pays private insurance companies to provide care through Medicare Advantage Plans, which in some cases provides enough funding for these plans to eliminate the need to charge the Medicare Beneficiary any additional monthly premiums.

Of course there is a price for everything, and the price of these $0 plans is higher copays. Now most of us would not mind having to pay ten dollars or so more to see a doctor, but the inpatient hospital and skilled nursing care copays can add up. As for the prescription drug coverage on these plans, not all will cover drugs in the donut hole (gap). So if your plan on needing more than $2840 worth of drugs in 2011, and do not qualify for the Extra Help through Social Services programs, make sure you understand the larger out-of-pocket cost associated with these $0 premium Advantage plans in Connecticut when it comes to the prescriptions in the gap.

If you would like to reduce your monthly Medicare Advantage plan premiums to zero, and minimize the larger copays for Hospital and Skilled Nursing Facilities (SNF), consider a separate Indemnity plan. They work basically like this: You apply for an indemnity insurance plan that provides cash benefits to help you cover the Hospital and SNF copays. One example would be to choose to be indemnified $250 each day you spend in a hospital, for up to 10 days per admission. Another additional rider would provide $120 per day for each day you are in a Skilled Nursing Facility, from days 21-100. The premiums vary depending on your age, as well the amount of benefits you choose. Hey, it works for my mother.

These plans are medically underwritten, which means that everyone will not be accepted into this plan, depending on recent health conditions and hospital stays. But most will qualify, as the underwriting is simplified, with only several questions. You can see the application and questions asked by clicking here. We use Guarantee Trust Life Insurance Company, and you can see their product brochure by clicking here.

My mother is 79 years old. She enrolled in a $0 premium Medicare Advantage plan and enrolled in the GTL indemnity plan to limit her Hospital copays, and eliminate any copays in the first 100 days of Skilled Nursing Facility care. Her monthly premium for the GTL plan came to $61.35 monthly. Even in the event that she did not choose to enroll in the GTL plan, her maximum out-of-pocket expenses for 2011 are guaranteed not to exceed $4,900. But I realize that I would be the one paying that $4,900 bill, so the $61.35 sounds good to me.

If yo are interested in what your premiums would be, click here to fill out some info, and we will email you a personalized quote.