Medicare Advantage Plans
Medicare Advantage Plans are typically Managed Care Plans like HMOs and PPO Plans offered by Private Insurance Companies. These Private Insurance Companies have a contract with Government Medicare, who pays them a fixed amount every month to provide Medicare Beneficiaries with all of their Part A and Part B benefits, including Routine Medical Care, and Urgent Care.
In this respect, Medicare Advantage Plans REPLACE Original Medicare as your Primary Coverage. They provide Coverage for all of your Part A (Hospital Insurance) and Part B (Medical Insurance) benefits. And almost all Medicare Advantage plans add Prescription Drug Coverage as well.
As your Primary Insurer, Medicare Advantage plans will provide a Network of Doctors that you are expected to use. This is one of the ways that Medicare Advantage plans help to keep Medical costs down, and provide you with a Cost Effective plan.
Medicare Advantage Plans Access to Doctors
Medicare Advantage Plans offer their Members a Network of Doctors that they are Expected to use. If you choose an HMO you must use the doctors in the Network or Your Plan will Not Pay the Medical Bill. With a PPO, a Member can see a Doctor who is Not in the Network, but the cost is higher to receive Medical Care Out of Network.
When compared to a Medicare Supplement plan, the Member is paying a Lower monthly cost in exchange for accepting restrictions with their Access to Doctors.
With HMOs, the list of doctors in the Plan’s Service Area will typically include doctors in the County of your Residence. But often the Insurance company will have an Analogous HMO plan in neighboring counties, so this will allow the Member to see doctors in a larger geographic area. With PPO plans, the Service Area will be Multiple counties, and sometimes the Plan is intended to service an entire State.
I often tell my clients, there is a Balance to be struck between what a Plan Costs and what it Covers. That statement was Never more true than when you consider your Access to Doctors while comparing Medicare Supplements to Medicare Advantage plans, and also when comparing plans within the Medicare Advantage category, HMOs vs PPOs.
For this reason you may want to discuss your options with an Experienced, Professional Medicare Agent who will help you to find the Best Plan for you.
Medicare Advantage Plans Plans and Costs
Medicare Advantage Plans are believed by many to be Very Cost Effective. There are Many Medicare Insurance Companies who offer $0 Zero Premium Medicare Advantage Plans which Do Not Charge a Monthly Payment at all. Yet they offer an Insurance Plan that covers More Benefits than Original Medicare.
Many Medicare Advantage Plans add Extra Coverage for Non Health Benefits, like coverage for some Dental care, Vision, hearing, Over the Counter products, and even limited access to your Local Gym. These are often called Ancillary benefits, and they are very popular benefits for the Medicare Advantage Members who use them.
Also, many of the Medicare Advantage (MA) Plans include Medicare prescription drug coverage (Part D) embedded in the plan and are known as (MAPD) plans.
Medicare Advantage Plans are typically Managed Care Plans like HMOs and PPO Plans offered by Private Insurance Companies. HMOs will usually be the lower cost plan, with the lowest copayments. But HMOs will have the most restrictions on your Access to Doctors. An HMO member will often need to get a Referral from their Primary Care doctor Before they see a Specialist.
PPO plans usually offer a larger network of doctors, and No requirement for Referrals. PPOs also allow Members to see Out of Network Doctors. This is one of the Main reasons that people enroll in PPOs, when compared to HMOs. But PPO Copayments and Out of Pocket Maximum are usually higher than the local HMOs, as a result of the added Flexibility.
For this reason, you might think It Is Best to consult An INDEPENDENT INSURANCE AGENT who is authorized to offer Plans from a variety of Insurance Companies. An Independent Agent can help you understand the differences in the Benefits of the Available Plans. And also help you find the Lowest Cost Plan for you, among the Many Carriers who offer Plans with similar coverage.
MedicareFreeHelp
When you are planning for your future health care, it's not only important to Choose the Best Plan available, it is also important to have a good Agent who will keep you informed when the Costs of different Plans change or when New Plans are Introduced. By having a Relationship with an Experienced Medicare Agent who offers a Variety of plans, you can make the changes necessary if your Medical Needs change, or if a more cost effective plan becomes available.
This is why your First Step in choosing a Medicare Plan is choosing Your Agent.
Choose the Right Agent, Enroll in the Best Plan, and Face the Future with Confidence.