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Medicare and the Cost of Cancer Treatment

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This article is for both the person facing cancer today, wanting to know what to expect from their Medicare insurance as well as for the person turning 65 and weighing the pros and cons of staying with Original Medicare or moving to Medicare Advantage. Medicare and the cost of cancer treatment is written to help everyone on Medicare.  If you find this article helpful, please share.  We have also included a link to a printer friendly version so that you may save this article for your files.

For those who prefer video:  Medicare & the Cost of Cancer Treatment

I realise the article is a bit long, but the subject matter is critically important.  When first diagnosed with cancer, there is a lot going through your mind. One small part is the question of “What is this going to cost me?”  The battle with cancer can be emotionally draining without worrying or wondering about your health insurance and how it works.  This information on how Medicare handles the cost of cancer treatment is much more difficult to find and piece together than it should be.  I believe the information in this article can be a great relief, benefit, and resource for anyone about to embark on a very tough personal battle.  The information has been compiled from numerous sources including Medicare.gov and the National Cancer Society.

For those new to Medicare, this information will help you decide if you are more comfortable with Original Medicare or Medicare Advantage.  For the person who has cancer or a history of cancer, we hope the information will ease any financial uncertainty of not knowing what part of your treatment may or may not be covered by your current Medicare plan and how much out-of-pocket expense can be expected from you.

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How Floridians Save On Medicare Supplement Insurance

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Save on Medicare Supplement PlansMedicare beneficiaries in Florida have the same Medicare Supplement and plan choices as seniors in most states.  However, because Medicare Supplement plans in Florida are priced “as issued” instead of by age, they are significantly more expensive than most other states.  This throws the pricing metric off so that plans that are the best value in other states are a poor value in Florida.  It’s also why only 30% of people in Florida turning 65 choose Medicare Advantage plans, a slightly higher percentage than the national average. In this article, we show some tips and tricks for How Florida residents save on Medicare Supplement insurance plans.

No matter where you live in Florida, there are three main Medicare Supplement plans that you should consider.  For each plan, the prudent consumer will compare the plan features as well as prices. Those plans are Medicare Supplement Plan F, Medicare Supplement Plan N and Medicare Supplement Plan F-HD (high deductible).

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Medicare Supplement Plan N Review

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Whether you are just turning 65 and enrolling in Medicare, or are over 70 and looking to keep your health insurance cost down, seniors in Florida and across the country continue to search for the best value in Medicare Supplement coverage.  Medicare Supplement Plan N should be among the top three Medigap Plans to consider.  This Medicare  Supplement Plan N review explains why.

Watch a 12-minute video on Plan-N now

or continue reading….

In a previous blog we wrote of Medicare Plan F High Deductible as often the best value for seniors in Florida who are in generally good health. While Plan F-HD makes sense for most from a pure numbers perspective, many seniors prefer to have greater coverage, but balk at the high cost of a Plan F or realize that with Plans F and C being discontinued as of 2020, they do not want to be stuck in those specific Medicare Plans when no new younger seniors are allowed entry and the rising medical cost per aging beneficiary push premiums to prohibitive levels.

Enter Plan N, one of the most popular Medicare Supplement plans in the country because it covers all the most significant potential medical expenses, but at a cost much lower than a Plan F.  In fact, the premiums for Plan N are often 30% to 35% less than Plan F.   Plan N is one of the most popular Medicare Supplement plans in the state of Florida, as well as many other states across the country because of the cost to benefit features that make it one of the best values in Medicare Supplement plans.

Here is how to compare a Plan N to other Medicare Supplement Plans —

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Medigap Plan F-HD for Florida Seniors

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Which Medicare Supplement Plan?Whether you are just turning 65 and looking at your Medicare options for the first time, or you have been on Medicare for some time and want to lower your cost while keeping the service and benefits you are used to, seniors in Florida face the same tough decisions as seniors anywhere in this country.  However, the way Medicare Supplement plans are priced, the Medigap Plan F High Deductible makes sense for Florida Seniors.

A survey of insurance professionals in Florida revealed Medigap Plan F-High Deductible (Plan F-HD) as the plan they will or are using for their Medicare.  Shockingly, they admitted to not showing this plan to clients because the commission is too low. And yet, the annual maximum out-of-pocket limit on Medigap Plan F-HD is LESS than the required annual premium of Medigap Plan F or Plan for most Florida seniors.

With a Plan F-HD you can lower your monthly premiums to just $50-$70 and have an annual maximum out-of-pocket limit that is $2,180; less than the annual premium for most Medigap Plan F coverage!

Watch a 10-minute Video on Plan F-HD:  Watch Video Now

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Here is an example to illustrate the value of Plan F-high deductible:

A Medicare Plan F may cost a 65-year old in Florida $2,705 per year in annual premium.  It covers 100% of Medicare expenses not covered by Original Medicare Parts A & B. It has no deductible.

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