Medicare Advantage Plans
Before choosing a plan we want to be sure you know the difference between your many options; In particular how Medicare Supplements and Medicare Advantage Plans differ. Many people sign up for Advantage Plans thinking they are Supplements, they are not.
What is Medicare Advantage?
A Medicare Advantage Plan is a separate Medicare health plan offered by a private company that contracts with Medicare to provide with both Part A and Part B benefits. Medicare Advantage plans include:
- Health Maintenance Organizations
- Preferred Provider Organizations
- Private Fee-for-Service Plans
- Special Needs Plans
- Medicare Medical Savings Account Plans
If you’re enrolled in a Medicare Advantage Plan, Medicare services are covered through the plan and aren’t paid for under Original Medicare. Most Medicare Advantage Plans also offer prescription drug coverage.
What does a Medicare Advantage Plan Cover?
Medicare Advantage Plans cover all of the services that a standard Medicare plan covers, except for hospice care. The Original Medicare covers hospice care also covers hospice even if you’re in an Advantage Plan. Please note that in all types of Medicare Advantage Plans, you’re always covered for emergency and urgently needed care.
The advantages you get with a Medicare Advantage Plan is that you have options for additional coverage for services such as vision, hearing, dental and health/wellness programs. Most include Medicare prescription drug coverage (Part D). In addition to your Part B premium, you usually pay a monthly premium for the Medicare Advantage Plan.
You can also ask the plan for a written advance coverage decision to make sure a service is medically necessary and will be covered. If the plan won’t pay for a service you think you need, you’ll have to pay all of the costs if you didn’t ask for an advance coverage decision.
If you’d like to learn more about Medicare Advantage Plans, please feel free to reach out to us to receive more information today!
