Category: Medicare Advantage
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Both “medigap” and Medicare Advantage plans are often referred to as “supplemental insurance” plans in Medicare articles and literature. This language is confusing and somewhat misleading. Do you understand the difference?
Although the Advantage ratings purportedly help seniors weed out the best possible plans, the ratings system is flawed and most seniors rely on a combination of plan costs and benefits to determine which plan they want. The impending Medicare reforms will be rewarding top-ranked Advantage plans with bonuses, despite the obvious flaws within the system. The Center for Medicare Services (CMS) plans on using the current system at first, and later evaluating which factors work and which do not. Programs with 4 or 5 star ratings will receive higher bonuses from Medicare.
The recent Senate bill entitled “The Patient Protection and Affordable Care Act” is intended to bring insurance to many uninsured Americans and to help the Medicare program avoid insolvency, which is projected to happen in 6 years. Unfortunately, the bill will probably have just the opposite effect.