What is Medicare Advantage?
Medicare Advantage is health insurance that can be modified and evolve with the beneficiary’s needs. It’s sold through private insurance companies that work closely with Medicare to ensure all coverage provided is within their guidelines.
What are Medicare Advantage plans?
- What are Medicare Advantage plans?
- How do they work?
- How much do they cost?
Hi, I'm Jessica Mannion at My Healthcare Direct, and in this video I'm going over the basics of what a Medicare Advantage plan is, how it works and some of the potential costs you may experience.
What are Medicare Advantage plans?
Medicare Advantage plans, which are also sometimes called “Part C” or “MA” plans are an all-in-one package alternative to original Medicare. These plans are offered by private insurance companies that have been approved by Medicare to offer their plans for Medicare beneficiaries.
How do Medicare Advantage plans work?
If you enroll in a Medicare Advantage plan, you still receive your Part A and Part B services. However, they are in a bundle package and can include some additional benefits, such as dental, vision, hearing, and prescription drug coverage. Each Medicare Advantage plan has their own network co-pays and out-of-pocket maximums for Medicare coverage services.
Medicare Advantage plans can have different sets of rules when it comes to receiving these services. For example, a
plan may require you receive a referral from a primary doctor before seeing a specialist.
On a side note, it is important to note that you cannot enroll in a Medicare Advantage plan and purchase a Medicare supplement. You can only choose one or the other.
How much do Medicare Advantage plans cost?
While there are some Medicare Advantage plans that do have a monthly cost to them. The good news is, for the
most part most Medicare Advantage plans have a zero monthly premium, so that means the only thing you are responsible for paying is the Part B premium of a 144.60 USD.
If you have any other questions, feel free to contact our office at 888-959-1028.
What is the difference between Medicare Advantage and Original Medicare?
Original Medicare is the most basic form of insurance that Medicare offers. Original Medicare plans cannot be modified, but allow for enrollment in a Medigap policy. Medicare Advantage plans offer all the coverage that Original Medicare plans do, but with the option to add on other areas of coverage.
Dental, vision, and hearing coverage are not included within Original Medicare but can be added to a Medicare Advantage Plan. If you’re looking to extend your coverage and add on other areas that aren’t included in Parts A and B, consider Medicare Advantage. If you do enroll in Part C, you won’t be eligible for Medigap enrollment.
