List of Medicare Advantage Plans
Seniors that are looking for a comprehensive healthcare insurance policy should consider a Medicare Advantage plan. These plans were created by Medicare for helping with a wide range of medical expenses beyond what Traditional Medicare covers. The powerful coverage is not as expensive as one might think.
There are many different types of Medicare Advantage plans available, and each one offers different coverage. These are split into several categories, such as those referred to by coverage. The common way to see Advantage plans labeled include Silver, Gold Pro, Standard, Premium, etc. Each one of these will refer to a different meaning of coverage offered by the plan. However, they all break down to only a handful of Advantage plans.
Review a list of Medicare Advantage plans help for just those Medicare requires. For instance, emergency and urgent care. These lower coverage plans will also cover most of Medicare Part A expenses and Part B too.
Various Coverage Options
Part D Advantage plans that are often sought after by seniors because they cover all the basic stuff while covering prescription medications. Usually, these plans will cover most of the cost for generic medications, leaving only $1 per prescription as out of pocket expenses. They can also cover part of more expensive medications as well. For that reason, Medicare Advantage with Part D is very popular.
For those needing more than the basic coverage, there are plans that include checkups for vision, dental, and other specialists. They can also cover costs for x-rays, teeth cleaning, and eyeglasses.
To determine which plan will provide you with the coverage you will need through the year, it is recommended that you make a comparison. This will help you find which approach will reduce the most out of pocket costs, lowering your personal medical expenses and allowing peace of mind when visiting the doctor.
Network Coverage With Medicare Advantage
Medicare Advantage plans are on networks, which are the doctors, hospitals, pharmacies, and other medical facilities who either accept the plan or not. They are referred to as being in-network or out of network. All plans cover the benefits of the purchased plan for in-network care, but out of network providers may not be covered. Some network options cover part of the out of network costs.
Below are the different types of network options you can choose from.
HMO is the most popular option, which is the cheapest but only covers in-network providers. That means any out of network visits will be fully out of pocket to cover. There are some emergency situations that will be covered. This option is cheaper because of the limitations.
PPO networks are a mix, they will cover all in-network medical care, and cover some for out of network. This is often a popular choice in rural areas that have limited medical facilitates. The premium for this type of network does cost more than HMO, but it covers more.
PFFS is a less common option but combines both network types. PFFS stands for private free for service, which costs a little more than an HMO, but provides full coverage for in-network and pays a fixed amount for out of network services. This gives seniors a more stable idea of how much they will be responsible out of pocket.
Special Needs is another type of network option, but it is only available for those who are qualified for a special needs program. It will provide wider network protection and coverage, making sure you pay less out of pocket and other network types.
Which Medicare Advantage Plan Is Right?
As you may be able to see, there are quite a few ways Medicare Advantage can cover medical costs. But, the question we get most often is how to choose the right plan? One method for choosing is to compare the rates of various types of plans. This will let you know how affordable certain plans are and which are not. From there, you can determine which plan provides the best benefits to reduce yours out of pocket costs.
You can use our website to help with your search. We offer free comparison tools and resources to make the process simple and quick. Once you know how much your out of pocket expenses are, you can better determine which plan is needed based on the benefits offered. Then, see which insurance companies are providing the plan you want and at what price. Some of the more popular insurance providers include Aetna, AARP, Cigna, and Mutual of Omaha.
With a quick search using your zip code, we will provide you with a list of Medicare Advantage plans in 2021. You can use this information to better determine which plan you will be satisfied with during the year, as it can be hard to switch throughout the year. If you still have questions, you may call us for further assistance.
