What is Medicare Advantage Plan?

Medicare Advantage plans, also known as Medicare Part C, were introduced in 1997 to give Medicare beneficiaries the option of receiving their medical coverage through private insurers. They offer beneficiaries more freedom of choice and the opportunity to design a health plan for their needs.

Medicare provides seniors with a choice of how they want to use their benefits. In addition to the original Medicare, the Centers for Medicare & Medicaid Services (CMS) allows people to sign their Medicare benefits to approved private insurance companies. These Medicare Advantage plans offer the Health Maintenance Organization (HMO), Preferred Provider Organization (PPO), and health plans with deductibles. Of course, not all plans are right for each person and sometimes Original Medicare is the best option. Medicare subscribers need to make informed decisions to get the most out of their health benefits

Obtain the Brochure

Obtain a Medicare Advantage Plan brochure from CMS which describes various options, costs and considerations. CMS makes information available online and mail free brochures on request.

Consider Your Finances

For Medicare Advantage plans, you have to pay premiums, as well as co-payments and deductibles. Original Medicare only has copays. In addition, different options have different premium costs. Check carefully to see what makes sense for your budget.

Decide the Flexibility You Need for Your Health Insurance

Many private doctors do not accept Original Medicare. However, they can accept Medicare Advantage Plans through private insurers because of their high repayment rates. However, in order to have access to more doctors, you have to pay premiums.

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Evaluate Your Health

Many Medicare Advantage Plans have annual maximum payments, so it is possible to use your year’s benefits safely. Original Medicare, on the other hand, will continue to pay for acute care costs, no matter what. It may be better for patients prone to hospitalization and who need long-term care.

The coverage commentary is outlined in each Medicare Advantage Plan. Consider the health care you are going to use and look for the plans that you cover adequately. You may find that a plan with a high level of hospital coverage has high deductibles in outpatient specialist visits. If you are someone who sees a specialist in ear, nose and throat frequently, for example, you may want to consider a different option.

Unlike Part A and B and policies that offer standardized coverage, it varies greatly in what they actually cover and in what amounts. Unless the insured has a thorough knowledge of their policy and takes time to compare it with traditional Medicare, it cannot be covered by the elements that are important to him/her.

If you are dubious of getting Medicare Advantage Plan, I would suggest you to go for AARP Insurance Plans.