How Is Medicare Advantage Funded?

  1. 40 POINTS
    Alex Efroymson
    Independent Health and Life Insurance Agent, Efroymson Insurance Solutions, LLC, Central Indiana
    As you may know, there are many advantage plans with extremely low premiums, which makes this a popular question. Medicare advantage plans are actually funded by medicare, which was funded originally by taxes taken from your paycheck and monthly part B premiums. When you join an advantage plan, you transfer these payments to the advantage plan.
    Answered on April 4, 2013
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  2. 3485 POINTS
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    J Scott BurkePRO
    President, Newbury Inc., Evansville, Indiana
    When you go on a Medicare Advantage plan, you are opting out of Medicare a & b for the time you are enrolled in the Part C Advantage Plan. Since Medicare does not have the liability of insuring you, they pay most of your premium for you. It's estimated that they pay around $800 monthly to the insurance company that you choose. You pay little or no premium to the company plus your Part B premium.
    Answered on April 5, 2013
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