Think Medicare HMO Advantage Covers Everything? Think Again!

If you’re enrolling in Medicare, you need to know the facts about out-of-pocket costs associated with HMO Advantage plans. Make no mistake – these plans can be appropriate for a lot of people. But you’d better make sure you’re one of them. And you should know the risks before you sign up.

To many of us, “out-of-pocket” costs mean co-pays to primary-care physicians and specialists. But, if you need services such as out-patient rehabilitation for physical, occupational, or speech therapies, or cardiac and pulmonary rehabilitation, your co-pays can balloon up to $100 per session. And these payments could be considered “out-of-pocket” – which means they could be part of your annual deductible.

Healthcare professionals tell me they’re seeing an increasing number of seniors go without the therapies they need, because they just can’t afford them. Apparently, they never really thought about longer-term therapies that might be needed for serious injuries or illnesses, or they thought those conditions would be covered the same way as others. But it ain’t necessarily so!

These plans can have a low up-front cost…but before you pick one, you’d better be truthful with yourself about any potential health problems. You’d better have a full understanding of the co-pays, deductibles, and out-of-pocket costs. And you’d better know exactly what’s covered; after a cardiac event, for example, exercising at a local gym is not quite the same as cardiac rehabilitation!

The best money-saving tip of all, though, is this: Take care of yourself! Exercise, eat right, get enough sleep, and “live well” before you get any older…and you’ll automatically cut your future medical expenses.

Trying to figure out the best Medicare plan for yourself can be a very intimidating process. And it generally leads to more questions than answers. But we can help.

At The Law Offices of Alice Reiter Feld & Associates, we practice Elder Law. And we’ve been practicing it in South Florida for 33 years. We can answer your questions about Medicare. And we can help you prepare for the future, with comprehensive estate planning, wills, trusts, powers of attorney, long-term care planning, asset-protection plans, and assistance with Medicaid (and Medicare!) and the VA.

If you’ve got questions, we’ve got answers. And we’re just a phone call away.