Adam, my health hasn’t been the best. The issues are all under control but they have prevented me from changing Medicare Supplements in the past because I can’t answer the health questions. I only sees my Doctors once a year to update my prescriptions. My current Medicare Supplement is costing me around $350/month. I don’t like the idea of Medicare Advantage because of the doctor networks. Do you have any other options that could help me?
Absolutely. If you switch over to a Medicare Savings Account (LASSO) you will be saving a significant amount of money. Right now, you are spending $4200/year in premium for your Medicare Supplement. LASSO is, by law, $0/ year in premium. With the low-risk LASSO option, your maximum out of pocket is $3000. So, even if you hit the maximum out of pocket it will be less than what you are paying in premium for the Medicare Supplement. That is a savings of $1200/year. And that is only if you hit the maximum out of pocket. If you don’t exceed the $2000 deposited on the Medicare Savings Account Card then your savings increase even more! And LASSO has no PPOs or HMOs. You will be able to go to whatever Doctor you choose just as long as they accept Medicare (the same way it is with a Medicare Supplement). So, yes I think a LASSO plan could be a great option. You will be able to save a lot of money, reduce your maximum out of pocket, and maintain the full Medicare Network.