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Bombarded With Medicare Adventage Ads

By Evelyn (Evie) Preston, The Money Lady

Q: People often ask me: what are my own personal A, B and D plans?

I stick with the original Government Medicare. Parts

A (hospital) is free, and B (doctor and general health care) is based on my income: investments, pensions, etc.

Recalculated yearly, IRMAA (Income related monthly adjustment amount) increases my Medicare cost which lowers my Social Security payment.



Q: What about Medigap (supplemental insurance) to cover what Part B doesn’t, mostly doctor bills, special procedures, lab work, etc.?

While Medicare pays a minimum contracted amount to your health care provider, Medigap takes up the rest…usually. I stay with my pre-Medicare private provider for this must-have coverage. My monthly premium has no co-pays and saves a whopping $3/month for online payments. I rarely have an uncovered cost.

In fact, my original, long-ago plan choice is so cost-effective, it’s no longer available. Luckily, I’m grandfathered in. But not the premiums. No matter the insurer—rates will increase.

Q: How about drug coverage—do you use the same insurer?

I use a different private company for part D (drugs) because it has the best rates based on the few pills I need. It’s wise and worth it to shop around for your specific meds. However, the monthly Part D Medicare allowance is also based on income, subject to the same IRMAA amounts.

Q: How do I know I have the best plans?

I call my insurers once a year during open enrollment (changes allowed October thru December.) to review my private supplemental and drug coverage. Out of the 5 or 10 plan choices each insurer offers, there’s one to fit personal needs and price.

One size does not fit all! I skipped my Part D check-in one year, found I was paying double and switched. Same company, lower cost plan! Insurers look to cut costs as much as you…change happens!

Q: How often do Medicare costs increase?

Due to allowable coverage, added procedures or new rules, charges fluctuate. As part of Social Security, individual costs rise and fall each year depending on one’s changing income.

I didn’t profit from this year’s large Social Security cost of living increase. My capital gains hiked my Medicare amount to lower my overall benefits

by 70 cents!

However, with the many problems of our health care system in general, Medicare remains one of the most effective government programs to date. And although Congress has borrowed from the system, supposedly each dollar is accounted for and earning interest. We’ll see.

Q: But how good is Medicare if you really get sick? Cancer, heart attack, or worse?

Even with Medicare and private Supplemental/Drug coverage, you’ll have some things not covered—private rooms, drug copays, travel, etc.



I have a cousin with esophageal cancer and degenerative heart disease; he needs pacemakers, top specialists and has survived surgeries in different clinics and cities. After years of hospitalizations and costly drugs he is still solvent and…alive. 

Q: Who pays for all that? Isn’t he charged extra?

We all pay…that’s the system. My sparse use pays for his overuse. You might call it “Socialism for Seniors”. But choose wisely. Before signing up for Medicare, Medigap and drug coverage or any Advantage Plan, know what you’re getting. Seek feedback, check options and talk to experts, insurers, brokers and friends. Your health—your life really—depends on separating the facts from the hype!

Evelyn (Evie) Preston is a financial columnist for A050 and worked as a financial advisor for over 25 years. Reach her at [email protected].

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