A Medicare Advantage plan is another way to cover your Medicare. Medicare Benefit plans, sometimes called “Part C” or “MA Plans,” are offered by Medicare-approved private companies that must follow the rules set by Medicare. If you join one Medicare Advantage Plan, you will still have Medicare, but you will get most of your own Medicare Part A (Hospital Insurance) and Medicare Part B (Health Insurance)Medicare Advantage plan coverage, not original Medicare.
How do Medicare Advantage plans work?
When you enroll in a Medicare Advantage plan, Medicare pays a fixed amount for you. Monthly coverage of the company offering that plan. These companies’ must follow Medicare coverage rules. Medicare Advantage plans have annual contracts with Medicare. The plan must notify you of any changes before the program begins next enrollment year. If you join a Medicare Advantage plan, you will all have the same rights as well protections you would have under Original Medicare.
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How do you compare Medicare Advantage plans?
You may have decided that you want a Medicare Advantage plan because you like the security of having a plan with a maximum out of your pocket or looking for additional benefits. The availability of Medicare Advantage plans varies from area to area, but you may have five or more to choose from in your zip code. Here are some things to consider when comparing Medicare Advantage plans.
Compare the costs of the Medicare Advantage plan
Medicare Advantage costs are set by each private insurance company that offers the plan. Three costs to consider include: premiums, co-payments / co-insurance and deductibles. You should also consider the maximum in your pocket when comparing Medicare Advantage plans.
Premiums: this is the amount you pay monthly to have the plan. Some Medicare Advantage plans may have premiums of up to $ 0.Pay / co-insurance: this is the amount you pay whenever you receive care. A visit to a specialist can cost you, for example, $ 35. Taking a generic prescription drug may cost you $ 15.
Deductible: This is the amount you pay before your plan starts paying. A Medicare Advantage plan may have separate medical and prescription deductibles. Maximum out of pocket: All Medicare Advantage plans have a maximum out of pocket. This is the maximum amount you pay before your plan pays for all covered medical expenses. The maximum amount in your pocket can vary from plan to plan. If you predict that you will have a lot of medical expenses, we recommend that you choose the plan with the smallest out of your maximum pocket.
Compare types of Medicare Advantage plans
Most Medicare Advantage plans have preferred provider networks. Let’s compare the different types of Medicare Advantage plans:
Health Maintenance Organization (HMO)
An HMO is a type of health care plan that generally requires you to select a primary care physician. In most cases, you should receive a referral to see a specialist. If you do not follow the rules of the service plan, you may have to pay all costs of care.
Preferred Vendor Organization (PPO)
With a PPO plan, you can generally go to any doctor or hospital, but you will pay less if you use doctors and hospitals that belong to the plan’s network.PPO health plans do not usually require a referral for care by a specialist. However, if you use providers or specialists outside the healthcare network, you may be required to pay a higher share of the cost of covered services.
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Private Service Fee (PFFS)
With a PFFS plan, you will not have to choose a primary care physician, and recommendations are generally not needed for treatment by specialists. However, not all Medicare providers accept the plan.
Special Needs Plans (SNPs)
Special needs plans (SNPs) are available for those who qualify for specialized health needs or who are in other specific situations. For example, you may find HMO SNP diabetes. These plans adapt benefits and coverage to meet the specific needs and conditions of the people they serve.
Still have questions about compare Medicare Advantage plans? You can call health to speak with an authorized insurance agent. If you want to explore the different Medicare coverage options in your area, use the Browse Plans button on this page.
