SARASOTA, Fla. (WWSB) - President Trump will be in Central Florida at The Villages Community Thursday. He is said to be announcing an order to bring Medicare costs down and give Medicare beneficiaries new options when it comes to choosing health care plans.
Right now, more than 4.4 million Florida residents are enrolled in Medicare.
Medicare is health insurance for people over the age of 65 or people on disability. Medicare is made up of three different parts which pays for hospital expenses, outpatient care, and retail prescription medications.
If someone wants a private insurance plan to pay for coverage instead of Medicare, they can take part of a Medicare Advantage Plan, which is a cheaper alternative to Medicare Supplements. Medicare Supplements pay for the extra 20% of coverage Medicare does not cover.
In Sarasota County there is over 30 options for Advantage Plans. An expert says having all these options help keep cost down.
"These plans have to remain competitive. The premium dollars from company to company have to be the same. These companies are all competing for that Medicare premium dollar, so they have to run efficiently and they have to be priced competitively. Because if they're not, people are not going to join or not going to rejoin or re-up and those premium dollars are going to go to a different company so the competition itself will probably drive costs down," said Dave Silver, who is the President of Dave Silver Insurance.
ABC 7 will have a crew at The Villages for President Trump’s announcement and will bring you live coverage throughout the day both on air and online.