Medicare Advantage Plans
A Medicare Advantage plan is a Medicare-approved private health insurance option. You can choose to receive your Part A, B, and D benefits through this plan as an alternative to traditional Medicare. Typically, these plans feature a network of doctors under either an HMO or PPO arrangement.
What’s a Medicare Advantage Plan?
You can receive your Medicare benefits through either Original Medicare or a Medicare Advantage Plan (like an HMO or PPO). With Original Medicare, Medicare benefits are government-funded as they are received. Medicare Advantage Plans, also known as "Part C" or "MA Plans," are administered by private companies that have Medicare's approval, with Medicare compensating these companies for your benefits.
Suppose you opt for a Medicare Advantage Plan. In that case, it will encompass both your Part A (Hospital Insurance) and Part B (Medical Insurance) coverage, differing from a Medicare Supplement Insurance (Medigap) policy.
What do I need to know about Medicare Advantage Plans?
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Health Maintenance Organization (HMO) Plans: These plans primarily allow access to doctors, providers, or hospitals within the plan's network, barring emergencies. Referrals from primary care doctors are usually needed for tests or specialist visits.
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Preferred Provider Organization (PPO) Plans: PPO plans offer reduced costs when using network-affiliated doctors, hospitals, and providers. Services outside of the network typically cost more.
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Private Fee-for-Service (PFFS) Plans: These plans define payment structures and out-of-pocket costs. Resembling Original Medicare, PFFS plans let you choose any doctor, provider, or hospital, provided they accept the plan's payment terms.
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Special Needs Plans (SNPs): SNPs are designed to meet the specialized needs of certain groups, such as those with Medicare and Medicaid, nursing home residents, or individuals with chronic conditions.
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HMO Point-of-Service (HMOPOS) Plans: These HMO variants may permit access to some out-of-network services, usually at a higher copayment or coinsurance.
Which Medicare Advantage Plan is right for me?
Finding the right Medicare Advantage Plan can be tough alone. A Medicare Advantage broker knows the ins and outs and works just for you. Are you on a tight budget? Have a wellness plan? What's covered by your long-term care policy? Our Medicare Messenger Specialists ask the right questions to match you with the best Medicare Advantage policy for your needs, not the insurer's.
What if I need help paying my deductibles and co-pays?
We offer plans designed to fill the gaps in your Medicare Advantage plans. Medicare Supplements, or Medigap plans, handle specific out-of-pocket costs like copayments and deductibles, plus additional expenses not covered by Original Medicare. Connect with our Medigap specialist today to learn more!
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