Episode 1066: How You Can Still Get Medicare Advantage Instead of Choosing Original Medicare
·6 min
Clarence Snape, a multi-state licensed insurance broker, hosts this episode focused on Medicare choices for beneficiaries. He begins by listing the states where he is licensed, including California, Texas, and Florida. The episode centers on a client scenario where someone chose Original Medicare, which includes Part A for inpatient care and Part B for outpatient services. Snape emphasizes that Original Medicare involves significant out-of-pocket costs, specifically 20% co-pays and deductibles. Many people select Original Medicare to avoid Medicare Advantage's Part B premium of about $202.50 per month. However, Snape highlights that Medicare Advantage plans often include 'give back' features that can reduce this premium. For example, some plans pay back $184, leaving beneficiaries with less than $15 monthly. This drastically lowers out-of-pocket expenses during high medical usage, such as hospital stays. The episode details hospital inpatient copays under Medicare Advantage, which vary from $100 to $475 per day, with caps after five to seven days. Snape notes that insurance carriers may cover additional costs beyond these caps. He points out that many agents sell Medicare Advantage plans but do not discuss hospital copay details. The episode concludes with Snape providing his contact number for listeners seeking help. The format is a solo monologue with educational content, aimed at informing Medicare-eligible individuals about plan options and financial implications.
