Zero Cost Medicare Plans in Nevada
Medicare has many different coverage options for those eligible and one particular option is a Medicare Advantage plan. These plans really do not charge their members a monthly premium. When I tell my clients this, I am often met with skepticism. Most people have come to the conclusion that anything they get for “free” is of low quality. Although it is important to be wary of those too good to be true products, there are zero cost medicare plans in Nevada that provide excellent health coverage. Speaking with a health insurance broker can be a great way to find out which option is the best for you.
How Can They Charge Zero Premiums?
This is usually the next question I hear. When you sign up for a Medicare Advantage plan, the carrier you chose is now the primary payer of your medical expenses. Original Medicare, the federal government, will reimburse the insurance carrier to cover you. In addition, you will need to keep paying your Part B premium to the government. Because you are still sending money to the government and the government is also paying the insurance carrier, the Medicare Advantage company does not need to pass on a monthly premium to you. Although, you will still have copays and coinsurance for your medical expenses. This also lowers the cost for the carrier to insure you.
Not all Medicare Advantage plans have zero dollar premiums. It is important to remember that when it comes to Medicare, paying more does not always mean better coverage. There are plenty of Medicare Advantage plans that will charge you a premium for less coverage and an overall worse plan.
Is Medicare Advantage the Best Coverage?
It depends. Some people might be better suited to a Medicare Supplement plan. While these plans do charge premiums, you typically have little to no out of pocket expenses for medical services. In addition, you will have a larger, national doctors list. Just about every doctor that accepts Medicare will take a supplement plan as well. It really depends on your specific situation and speaking with a broker can help determine which plan is the right choice.