Medicare Tips: Pay close attention to a Medicare Advantage plan’s maximum out-of-pocket limit

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Pay close attention to a Medicare Advantage plan’s maximum out-of-pocket limit.

One critical benefit of Medicare Advantage plans is that they limit your out-of-pocket costs for Medicare Approved services at $6,700 or less.

In 2013 the average maximum out-of-pocket limit for a Medicare Advantage plan was between $4,000 and $5,000 (source). But, some plans had caps as low as $500 for Medicare approved services received “in-network.”

During the annual enrollment period, research the plan’s maximum out-of-pocket limit and be sure you could cover those out-of-pocket costs in the event of an emergency

Medicare has neither reviewed nor endorsed this information.
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