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 need to make sure you’re one of them. 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. These payments could be considered “out-of-pocket”, which means they could be part of your annual deductible.
Healthcare professionals are seeing an increasing number of seniors go without the therapies they need, because they just can’t afford them. Apparently, no real thought was given to long term therapies that might be needed for serious injuries or illnesses, or they thought those conditions would be covered the same way as others. That is not always the case!
These plans can have a low up-front cost, but before you pick one, give truthful consideration to any potential health problems in your future. You need to have a full understanding of the co-pays, deductibles, and out-of-pocket costs, and you need to know exactly what’s covered.
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.
At the Estate Planning & Asset Protection Law Center, we help people and their families learn how to protect their home, spouse, life-savings, and legacy for their loved ones. We provide clients with a unique education and counseling approach so they understand where opportunities exist to eliminate problems now as they implement plans for a protected future.
We encourage you to attend one of our free educational workshops. Call 800-964-4295 to learn more about what you can do to enhance the security of your family and legacy.
