Medicare Advantage Plans

Medicare Advantage Plans

Medicare Advantage Plans are alternative plans to “Original Medicare” and offered by private insurance companies. They tend to be all inclusive plans similar to the full benefit health plans that you may have received from an employer while you were working.  They include Medicare Parts A, B, & usually Part D.

The reasons an individual would choose a Medicare Advantage Plan are varied but some of the main reasons are below:

• • Medicare Advantage Plans in general have cheaper monthly premiums than Original Medicare.
  • Medicare Advantage Plans tend to have more benefits, including dental, hearing and vision benefits.
  • Medicare Advantage Plans also tend to include Part D as part of the coverage.
  • Also, Medicare Advantage Plans tend to have Annual Out-of-Pocket Maximum costs associated with coverage.

Why do Medicare Advantage Plans tend to have cheaper premiums than “Original Medicare”?

This is because when you sign up for a Medicare Advantage Plan, you are no longer paying for “Original Medicare”.  As such, the federal government pays the private insurance companies to manage the individual instead of that person being managed by “Original Medicare”.

In addition, These Medicare Advantage Plans tend to have Networks of Doctors, Hospitals, and Pharmacies with whom they have contracted with to keep costs down.  This DOES NOT mean the coverage is less than you would receive via “Original Medicare”.  It is important to remember that all private health insurance Medicare Plans are annually reviewed and approved by CMS to meet all the standards required by CMS.

Still have questions? Please feel free to call or set an appointment with me below. My job is to educate you so that you make the best choice to meet your healthcare needs.