Medicare Advantage Plans
Do you have questions about Medicare Advantage plans? You're not alone. Many people are unsure about what these plans offer and whether or not they are the right choice. On this page, we’ll discuss Medicare Advantage plans, including how they work and what benefits may be included.
What Is a Medicare Advantage Plan?
A Medicare Advantage plan is a health insurance plan offered by a private company and approved by Medicare. Medicare Advantage plans are an alternative way to receive your Medicare benefits.
Most Medicare Advantage plans include Part A, Part B, and sometimes Part D. They might also offer extra coverage, like vision, hearing, dental, health, and wellness programs (such as free gym memberships). Medicare Advantage plans have a network of doctors, specialists, and hospitals. You generally have to pay a monthly premium for a Medicare Advantage plan and your Part B premium.
You might also have copayments, coinsurance, or deductibles. If you decide to join a Medicare Advantage plan, you'll still have Medicare. You'll get your Medicare benefits through the plan instead of directly through Original Medicare. Be aware that you can only join a Medicare Advantage plan during specific times of the year.
Check out our resources below for more information on how Medicare Advantage plans work:
- Compare Medicare Advantage plans and Original Medicare here.
- See important Medicare enrollment dates and information here.
If you want to switch back to traditional Medicare, you generally have to wait until the Annual Enrollment Period (from October 15 to December 7). You might also be able to switch if you move or if certain life events happen, like losing other coverage or getting married or divorced.
How Do Medicare Advantage Plans Work?
Medicare Advantage plans are designed to provide an alternative to traditional Medicare coverage. Unlike Original Medicare, which provides a set of standardized benefits, MA plans offer additional services and benefits that can help meet the unique needs of different individuals. Generally, these additional benefits include things like dental care, vision, hearing services, prescription drug coverage, and more.
Additionally, MA plans offer extra protections against high out-of-pocket costs and access to additional wellness programs and services. Overall, Medicare Advantage plans are an excellent choice for more comprehensive coverage, depending on your healthcare and budget needs. Whether you need extra help with prescription medications or want some added support in managing your health needs, an MA plan could be the right fit for you.
So if you're considering switching providers or are currently enrolled in an MA plan but aren't sure how it all works, be sure to do your research and speak to an experienced and trusted Medicare advisor about what kind of coverage is best for you.
What Do Medicare Advantage Plans Cover?
As mentioned before, Medicare Advantage plans must cover all the same benefits as Original Medicare (Part A and Part B). It includes inpatient and outpatient care, preventive services, and emergency services.
In addition to these standard benefits, MA plans can also offer other coverage like prescription drugs (Part D), dental, and vision. The specific benefits offered by each MA plan can vary, so it's essential to do your research and find a plan that covers the things you need.
Additionally, it's worth noting that some MA plans might have providers in-network that Original Medicare doesn't. So if you have preferred doctors or specialists, be sure to check and see if they're included in the MA plan you're considering.
What Are the Benefits of Medicare Advantage Plans?
There are a few key benefits of enrolling in a Medicare Advantage plan. First, MA plans can offer more coverage than Original Medicare. It means that you might be able to get things like prescription drug coverage, dental, and vision services.
Additionally, MA plans often have lower out-of-pocket costs than Original Medicare. It can include things like copayments, coinsurance, and deductibles. And finally, MA plans typically offer extra protection against high medical bills.
Further, some MA plans offer additional benefits like access to wellness programs and services. These can include fitness memberships and weight-loss programs.
As people live longer and healthier lives, the need for affordable healthcare becomes more important than ever. That's why Medicare Advantage plans are an attractive option for many seniors. With a Medicare Advantage plan, you can get the coverage you need at an affordable price. Plus, you can choose from a variety of providers to find the plan that best suits your needs. Whether you're looking for comprehensive coverage or want to find a plan that better fits your budget, a Medicare Advantage plan may be the right choice.
Contact our team at Delta Medicare Benefits Group today to learn more about your Medicare options and find the best plan for you. To schedule a free consultation, call us at 901-460-7220 or fill out our convenient and secure online form. Note that we won’t send you unnecessary or unwarranted emails.
This checklist will give you all the information you need for a smooth transition on to the Medicare program.