Medicare Advantage a Lifeline for Low Income Seniors

A recent survey by the American Healthcare Insurance Plans discovered how essential Medicare Advantage and Medigap plans are to seniors – especially those with low incomes and also to minorities and rural beneficiaries.

The survey called the Medicare Current Beneficiary Survey asked numerous questions trying to determine what worked well for seniors and what didn’t work so well when it came to Medicare benefits.

One of the most important results of the survey was getting information that confirmed the fact that most Medicare Advantage/Medigap participants have household incomes of $20,000 or less, meaning that without the coverage, they would have a very difficult time getting the health services that they need.  The coverage allows them to get more services and also plan better for any future issues.

According to Medicare statistics for 2006, over 30% of Medigap policy holders live in rural areas.  41% of these policy holders have incomes under $20,000 annually, and 2/3 or over 66% of Medigap policy holders have incomes of under $30,000 per year. 

Since over 44 million seniors are enrolled in Medicare, these figures involve millions of seniors who depend on Medicare Advantage/Medigap coverage.  These plans provide lower out of pocket costs and additional benefits.  They also encourage prevention and management of chronic conditions.

Even with some of the financial issues that Medicare has it is essential that the most vulnerable among us – seniors, especially with limited resources – can at least afford the basics.  Those basics absolutely must include healthcare, and Medicare along with Medicare Advantage and other Medicare Supplements takes care of those needs.