The Medicare program is divided into various parts. Medicare Advantage, also known as Medicare Part C, is one of these common parts of Medicare. Before you join a Medicare Advantage plan, it’s important to know why enrolling in Medicare Advantage may be a good option for you. Let’s discuss those reasons below.
What Does Medicare Advantage Cover?
After purchasing Original Medicare, you have the option of signing up for additional plans, with Medicare Advantage being one of those options. While Medicare Advantage isn’t the best option for some Medicare beneficiaries, it can benefit others for several reasons.
One of these reasons is having your Original Medicare and Part D prescription coverage under a single plan. Medicare Advantage covers the same services as Part A and Part B, with most plans also providing prescription drug coverage.
Apart from Part A and Part B services, Medicare Advantage plans also provide extra services not available under Original Medicare, such as dental, vision, and hearing coverage. A Medicare Advantage plan may also include coverage for:
- Gym memberships
- Wellness programs
- Nutrition programs
- Adult daycare services
- Transportation to doctor visits
Costs of Medicare Advantage
Joining Medicare Advantage can be a cost-effective option in many cases. There are many Advantage plans with low premiums and out-of-pocket costs. Though you must keep continuing your Part B premiums to stay enrolled if you have Medicare Advantage, some plans offer to help with Part B premiums. There are also some Medicare Advantage plans with $0 premiums.
Medicare Advantage plans also have an out-of-pocket spending limit of $7,550.
Many Types of Medicare Advantage Plans
There are also several types of Medicare Advantage plans available. While the ones available specifically to you will depend on your location, the different types of Medicare Advantage plans include:
- Health Maintenance Organization (HMO) – These plans are cheaper than other plans because they require their plan members to use their in-network providers to receive their healthcare. They also require members to choose a primary care doctor and get referrals to see specialists.
- Preferred Provider Organization (PPO) – These plans have preferred provider networks their plan members can use, but they also allow them to go outside of these networks to receive care. They also don’t require them to choose a primary care doctor or get referrals.
- Medicare Medical Savings Account (MSA) – These plans combine a savings account and a high deductible health plan to help pay for your medical expenses.
- Private Fee For Service (PFFS) – These plans determine what they will pay and what you will pay for the Medicare-approved services you receive.
- Special Needs Plan (SNP) – These plans are tailored to meet the specific needs of their plan members.
For more information about Medicare Advantage plans and Medicare plans in general, contact us today at Midwest Medigap.
