What is Medicare Advantage?
However, Advantage plans usually cover additional services not covered by Original Medicare, such as dental, vision, hearing, housekeeping, caregiver training, counseling, and prescription drug coverage.
Some Advantage plans do have low to no monthly premiums. However, you will still pay a Part B premium. You will also be required to only go to doctors within the plan’s networks or risk more charges. The benefit is that there is a cap on how much you pay out of pocket each year.
Types of Medicare Advantage Plans
In most cases, insurance companies will offer four types of Medicare Part C plans. These plans are Health Maintenance Organization (HMO) Plans, Prefered Provider Organizations (PPO), Private Fee-For-Service Plans, and Special Needs Plans.
HMO plans have a specific network and will require you to choose a primary care physician who will refer you to specialists.
PPO plans are more flexible with the trade-off of a higher cost. They do have a network, but out-of-network coverage can still be covered.
Private Fee-For-Service plans offer the maximum flexibility but might cost more in the long run.
Special Needs Plans are offered to those with chronic conditions with tailored healthcare needs.
How do you enroll in Medicare Advantage?
You may enroll in a Medicare Advantage plan during your Initial Enrollment period, which is the same time you can enroll in Medicare Part A, Part B, Part D, and Supplements. This period is three months before your 65th birthday and three months after. If eligible through Social Security benefits, you can enroll after receiving benefits for 24 months, extending to three months later.
Other times you may be able to enroll, such as during a Special Election Period. Still, it is generally recommended to register during the Initial Enrollment period or risk hefty fees.
Let us help you find the plan that benefits you best.
Prime Senior Benefits is here to help you find the best Medicare Advantage plan. We work with and sell the policies of numerous insurance companies to provide you with the best option for your needs.
We can explain your options clearly and give you multiple quotes so that you can compare your options. And we’ll only enroll you in a plan if it’s your best option. We are available Mon – Fri, 9 am – 5:30 pm. You can also send us a message through our website or email.
Medicare Advantage
Also referred to as Part C, private insurance companies contracted with Medicare offer these plans. They provide all of your Part A and B benefits.
Medicare Supplements
Also known as Medigap, Medicare Supplements help pay the leftover 20% that Parts A and B don’t cover. They essentially "cover the gap".
Prescription Drug Plans
Also known as Part D, this is an optional benefit that covers your prescription drugs. It is offered to everyone who has Medicare.
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