Medicare Advantage. Enrollees must pay the Part B premium, which is $174.70 a month in 2024 for most people, as well as any Part A premiums if they aren’t eligible for free coverage. They may have to pay a monthly Medicare Advantage premium, too, although more than half of the plans don’t charge additional premiums. Enrollees typically are required to pay copayments for a hospital stay and copayments or coinsurance for Part B services, such as doctor visits and X-rays.
Medicare Advantage plans have an annual cap on out-of-pocket expenses, which include deductibles and copayments but not premiums. In 2024, the limit is $8,850 for in-network services although some plans have lower caps. If you choose a Medicare Advantage PPO, the limit is $13,300 for using a combination of in- and out-of-network services.
The Centers for Medicare & Medicaid Services offer tools to help you compare your estimated out-of-pocket expenses for various Medicare coverage options. Start by entering your zip code into the Your Medicare Options tool. For a list of Medicare Part D and Medicare Advantage plans in your area, use Medicare’s Plan Finder tool.
ORIGINAL MEDICARE VS. MEDICARE ADVANTAGE AT A GLANCE
You may pay more in total for the flexibility of being able to keep your doctors or keep up with health care appointments when you spend a few months away from home. You have to decide what's important to you.