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News / Finance

Medicare Advantage and Cancer

Cancer in Your Family History May Determine a Different Approach Medicare Supplements

As you get older you may experience many medical impairments tied to the process of aging. But some conditions may be hereditary within your family history. One such illness is cancer. Cancer coverage is an item of concern when selecting Medigap coverage for the things Medicare part B doesn’t cover. If cancer is a concern, then you may want to select a Medigap supplement plan F or G and not an Advantage Plan. It depends on the type of cancer and its ongoing management.

Thyroid cancer cost containment usually would be a lower out of pocket expense than breast cancer, which may be more involved. In network and out of network is an important factor before settling on a provider, so do your homework. Your maximum out of pocket is based on a calendar year, so if you experienced cancer treatment in November, you would more than likely hit your maximum out of pocket before year’s end and then a new maximum threshold would have to be met again for the new year.

Selecting a plan is all about managing risk. Many seniors who are healthy may select Plan F because they desire to have a fixed expense with no other out of pocket costs. Others in states where they allow no monthly premiums, but the annual cost limits are between $3,000-$5,000 may be attractive for cash flow purposes. So while the economics are generally not as important as your health, they can play a critical role in your decision making process on the plan you choose.

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