Medicare Advantage plans are prominent as Part C Medicare. They are issued by the private health insurance companies that are Medicare-approved to individuals enrolled in Part A and B Original Medicare. Joining Medicare Advantage plans indicates you are in the Medicare program and are expected to pay the premiums for Part B.
Medicare Advantage plans cover Part A Medicare that offer the cover for hospital insurance and Part B Medicare that offers the cover for medical insurance. Generally, additional benefits are offered such as hearing, dental, vision and some also include the coverage for prescription drug. These plans have networks and this means you must see the doctors and visit the hospitals to get care as per the plans network.
Medicare Advantage plans save you money potentially because the costs out-of-pocket in these plans may be lower in comparison to the Part A and B Original Medicare. Pricing varies with each plan provider and so certainly needs comparison of plans that are available in your area. The costs will vary as per the services you use and also with the plan type you buy. The charges for the costs that are spend beyond the pocket with Medicare Advantage plans are not the same. They also vary with each plan. In fact, the set of rules are also different in availing the services such as requiring a referral to use doctors, suppliers or facilities or even to see a specialist.
Find out more at www.medigap2018.org.
Plan options include:
- Health Maintenance Organization and the HMO Pos that is the point of service
- Preferred Provider Organization, Medical savings account and Special needs plans
You can join if:
- You are residing in the plan service area.
- You have Part A and B initial coverage of Medicare .
- You are healthy without crucial ailment complaints and complications such as requiring dialysis or ESRD.
Points to Remember
Carefully choose your plans. On becoming eligible for enrolment and you do not get enrolled due to some valid reasons means you may enroll during the Special election period. Once a year only you can change plans during the annual election period and each year this is from 15 October to 7 December.
There is disenrollment period of MA plans from January 1 to February 14 and this is the time you can get enrolled in some new Advantage plans and disenroll from the existing plan or even get back to your Traditional Medicare.