It’s that time of year again, when senior citizens get bombarded with advertisements for healthcare plans. One of the biggest scams in history is the Medicare Advantage promotions. The problem with these campaigns is that they neglect to say that the amount of coverage you get is limited. They don’t talk about what you’re losing by leaving traditional Medicare, where you get to choose your doctors and get the care you want without interference from multi-billion-dollar insurance companies. Seniors face a torrent of Medicare Advantage advertising during the open enrollment period, October 15 to December 7. A recent analysis found that 9,500 daily television ads were aired during open enrollment, while another survey found that 30% of seniors received seven or more phone calls weekly from Medicare Advantage marketers. The marketing for these plans nearly always fails to mention how hard it is to return to traditional Medicare once you are in Medicare Advantage, and that the MA plans have closed provider networks and require prior authorization for medical procedures. Instead, the marketing emphasizes the fringe benefits offered by Medicare Advantage plans like gym memberships, meal benefits, transportation assistance, and dental and vision expenses that Medicare doesn’t cover. The biggest draw for the Medicare Advantage plans are that many have a zero premium. That's where the old adage old adage "pay now or pay later" comes in. While seniors might be happy to not have to pay a premium every month, they won't be happy when they have to go into the hospital for an illness or injury, because that's when they'll really pay. The bottom line: The Medicare Advantage insurers are trying to scam people in order to make money, and they do it year after year.
