Medicare Advantage plans are privately offered Medicare plans that provide your Part A and Part B Medicare benefits in a single plan. These plans offer the same core benefits as Original Medicare, but they are also more flexible in which benefits they can offer. If you are interested in joining a Medicare Advantage plan, here is what you need to know.
Medicare Part C Plans
Medicare Advantage plans are offered under Part C of the Medicare program. Through Part C, private insurance companies are given the opportunity to sell Medicare coverage. Medicare Advantage plans are somewhat different from Original Medicare, so make sure you understand the difference before shopping.
Medicare Advantage vs. Original Medicare
Original Medicare consists of Part A hospital insurance and Part B medical insurance. Medicare Advantage plans are structured the same way, but both forms of insurance are packaged in a single plan. You can also get Part D prescription drug coverage through most Medicare Advantage plans. If you are enrolled in an Advantage plan, you can’t purchase a Part D plan, so this may be required if you want affordable prescription drug coverage.
Original Medicare also only has a single plan type, while Advantage plans are available as HMO, PPO, SNP, MSA, and PFFS. Each plan type offers different advantages, so speak with an insurance professional if you want to learn which one will be best for you. An insurance agent can help you compare Medicare Advantage plans and identify whether you should switch from Original Medicare.
Medicare Advantage Benefits
While Medicare Advantage plans are required to offer the same benefits as Original Medicare plans at a minimum, there is nothing stopping them from offering more benefits. Advantage plans often feature supplemental benefits that make membership more enticing. For example, many plans offer hearing, dental, and vision coverage to their members. Others provide free meal delivery or transportation to and from health care appointments. To find the best assortment of benefits in your area, give Weinstein Wealth Insurance Solutions a call. He is a licensed insurance professional with the knowledge needed to help you compare plans.
Medicare Advantage Costs
Medicare Advantage plans can vary in their cost. Some plans offer premium-free options but have higher copayments and other costs. You will also need to pay your Part B premiums in most cases, so factor that into the cost of coverage. To get more definite answers about how much Medicare Advantage plans cost, give an insurance agent a call.
Questions About Medicare Advantage Plans?
Some areas have nearly a hundred different Medicare Advantage plans to choose from. Don’t go at it alone. Get help from a qualified professional. Contact Weinstein Wealth Insurance Solutions now to get a free quote on Medicare Advantage plans in your area.