Medicare Annual Enrollment Period Begins October 15
What is Medicare Advantage?
Medicare Advantage Plans, also known as Medicare Part C or MA Plans, enable individuals who have Medicare Part A&B to attain Medicare benefits privately. As Medicare Advantage Plans are offered by private insurance companies who are contracted with Medicare and are an “all in one” alternative to Original Medicare. If you join a Medicare Advantage plan, you still have Medicare.
Why Medicare Advantage Plans?
➢ Additional Cover:
Apart from offering similar benefits as Medicare Part A&B, most of Medicare Advantage Plans provide numerous other benefits which are not covered by Original Medicare including prescription drug coverage, vision, hearing and dental.
➢ No Financial Burden:
Plenty of Medicare Advantage Plans offer plans as low as $0 premiums which let you pay nothing to take the plan and gain additional advantages. However, Part A&B premiums must still be paid if applicable.
➢ Inclusive Coverage Under One Plan:
Medicare Advantage Plans cover some, if not all, of the hospital and medical care benefits included in Original Medicare. Medicare Advantage plans provide coverage for health, drug and more under one central plan.
➢ Possibility of Coordinated Care:
The members of an HMO Medicare Advantage Plan will use a primary care doctor to coordinate their care while referring to specialists on the beneficiary’s or patient’s behalf. Beneficiaries can opt for this type of care particularly when it promotes preventive care and screenings.
➢ Customized Care:
Each Medicare Advantage Plan can charge different out-of-pocket costs. They can also have different rules for how you get services, like: Whether you need a referral to see a specialist. If you have to go to the doctors, facilities or suppliers that belong to the plan for non-emergency or non-urgent care. These rules can also change each year.
➢ Many Medicare Advantage Plans to Choose From:
Medicare Advantage Plans have numerous shapes and forms comprising of HMO’s, PPO’s and so forth which means beneficiaries have the ability to opt for a plan which fits their needs