The research of MedicareWire founder and author David Bynon has been featured in a new informative consumer report on Medicare Advantage plans.
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The new article, which is titled ‘The Savings Game: The pitfalls of Medicare Part C’ was written by MSN & Tribune Content Agency staff writer Elliot Raphaelson. It comprehensively covers Medicare Advantage plans, which are also known as Medicare Part C, and features advice from David Bynon’s popular e-book, ‘Why Medicare Advantage Plans Are Bad’.
More details can be found at https://www.msn.com/en-us/money/insurance/the-savings-game-the-pitfalls-of-medicare-part-c/ar-AAZsxkb?li=BBnb7Kz
The release of the consumer report coincides with the increasing subscription of American citizens to Medicare Advantage plans. According to the American Association for Medicare Supplement Insurance, the number of people that are now in these plans is 26 million, which equates to approximately 42% of all Medicare enrollees.
With this number tipped to rise to about 53% by 2030, writers like Raphaelson and Bynon believe it is imperative that US citizens, who are considering their health insurance needs and requirements, have access to more objective information.
As a recent joint exposé by Forbes magazine and the Friends Talk Money podcast illustrated, the increasingly advertised plans—and the zero premium, zero deductible and zero co-pay rhetoric that features heavily in them—only represent half of the picture. As their researchers determined, seven out of ten Medicare beneficiaries failed to compare coverage options.
Raphaelson’s article touches on similar issues. In it, he summarizes some of the key disadvantages of Medicare Advantage plans, as explained in Bynon’s book.
As he states, amongst other issues, the plans lead to users having to make multiple copays for different doctors, specialists and diagnostic procedures, and facing higher hospitalization costs. The report also shows that these plans offer patients less doctor contact and a more limited pool of doctors and specialist providers.
The bottom line, according to both Raphaelson and Bynon, is that Medicare Advantage plans can be advantageous for healthy individuals who don’t anticipate needing the medical system. However, for the elderly or those suffering chronic conditions, the authors recommend that individuals consider alternatives like Original Medicare with a Medigap supplement.
“If you watch television, it is hard to avoid the promotions for Medicare Advantage plans. These commercials suggest that if you are eligible for Medicare, you should be signing up for a Medicare Advantage plan,” writes Raphaelson. “It is true that some individuals might benefit from a Medicare Advantage plan. However, you should be aware of the potential disadvantages.”
The full version of David Bynon’s informative e-book ‘Why Medicare Advantage Plans Are Bad’ is available for download on the MedicareWire platform.
More information is available at https://medicarewire.com
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