Medicare Advantage
Medicare Advantage is an “all-in-one alternative” to Original Medicare. There are multiple different Advantage plans to choose from, with cost coverage and optional additional benefits.
Medicare Advantage Explained
Medicare Advantage is provided by private insurers rather than the federal government like Original Medicare. However, there are a number of legal requirements these plans must meet to make sure you have the coverage you need.
There are five main types of Advantage plans:
- Health Maintenance Organization (HMO)
- Preferred Provider Organization (PPO)
- Private Fee-For-Service (PFFS)
- Medical Savings Account (MSA)
- Special Needs Plans (SNPs)
Each plan has cost and coverage options so you can choose the best plan that works for you. And, each insurance provider will have different options, so you can compare those available in your area.
Advantage Costs and Benefits
Each Medicare Advantage plan will look different. However, they do fit within certain standards.
You still need to pay your Original Medicare premium and deductibles.
Your Advantage plan will include the same coverage as Part A and Part B. The main function is to make your Medicare coverage more affordable. By coordinating your coverage within a network of trusted providers and locations, your plan will reduce your out-of-pocket costs.
It can also provide other additional benefits. Lots of Advantage plans, for example, cover prescription drugs. They also may cover limited dental, vision, and hearing care and more!
When Can You Join an Advantage Plan?
Enrolling in a Medicare Advantage plan is easy, and you can do it at any time without a late enrollment penalty. The easiest time to enroll, however, is when you first become eligible for Medicare during your Initial Enrollment Period (IEP).
Your IEP starts three months before your 65th birthday and ends three months after. During this time, you’ll enroll in Original Medicare, and can enroll in Medicare Advantage by finding a provider in your area and following their steps for enrollment. You must have Original Medicare before you can enroll. Then, our agents can help you compare Advantage plans in your area to find the best one for your needs and budget.
Make the Most of Your Medicare Benefits
Priority Health Insurance Services will make sure you’re taken care of. We’ll compare Advantage plans based on your insurance goals and give you the best possible plan. To learn more, call 626-966-1098, or email info@priorityhealthins.com.
