Medicare Advantage is one of the fastest-growing parts of the Medicare program. An advantage plan combines Part A and B, plus Part D prescription drug coverage with your choice of other benefits, dental and vision. It also has a copayment that’s usually lower than you’d pay with Original Medicare. You will be given a choice, called a network, to select all your doctors, hospitals, and other care providers.
The Parts Of Medicare
There are four parts to Medicare and each has its own distinct purpose. Part A covers inpatient hospital stays and short-term skilled nursing care, as well as home health services after you leave the hospital. Part B covers doctor-prescribed medical services, such as surgical procedures and diagnostic tests. Part C plans offer an Advantage Plan with benefits similar to Parts A and B through a private insurance company or HMO provider.
What Does A Medicare Advantage Plan Include?
Medicare Advantage Plans include additional benefits designed to help you prevent and manage certain health conditions. These plans also provide prescription drug coverage, which is not included with Medicare. Medicare Advantage Plans are available in several different options or benefit packages: HMO (health maintenance organization), PPO (preferred provider organization), POS (point of service), and Medicare Special Needs Plans.
Medicare Advantage plans include everything you need to cover your day-to-day medical needs. These plans combine Medicare health insurance with prescription drug coverage and may also include vision, dental and hearing benefits. A Medicare Advantage plan provides you with a comprehensive health plan. It usually includes all of your healthcare costs, from doctor visits and hospital stays to prescription medications and many other health-related expenses.
Are There Different Types Of Medicare Advantage Plans?
It’s important to know the different types of Medicare Advantage Plans so that you can choose the one that best suits your needs. For example, if you have a chronic condition like asthma or diabetes, you may want to look for a plan that offers more frequent checkups and access to specialists. Or if you drive frequently, it might be beneficial for you to find a plan that includes free vision coverage or free hearing aids.
How to Choose a Medicare Advantage Plan
If you are new to the Medicare Advantage program, or if your current Medicare Advantage plan is set to end, it is important that you know how to select your new plan. Medicare Advantage plans provide benefits that traditional Medicare does not offer and these plans can also vary from one insurance company to another, It is important to understand how to choose an appropriate Medicare Advantage plan for your needs.
Reviewing the Medicare plan options available to you is not just smart it’s your obligation to find the best coverage at a fair price. With so many options on the market, it can feel like an overwhelming task. The most important thing you can do is your homework, and that’s what we aim to equip you with in this guide.