Medicare Advantage

A Medicare Advantage Plan is a type of Medicare health plan offered by a private company that contracts with Medicare to provide you with all your Part A and Part B benefits. Medicare Advantage Plans include Health Maintenance Organizations, Preferred Provider Organizations, Private Fee-for-Service Plans, Special Needs Plans, and Medicare Medical Savings Account Plans. If you’re enrolled in a Medicare Advantage Plan, Medicare services are covered through the plan and aren’t paid for under Original Medicare. Most Medicare Advantage Plans offer prescription drug coverage.

Different types of Medicare Advantage Plans

There are other less common types of Medicare Advantage Plans that may be available:

  • HMO Point of Service (HMOPOS) Plans: An HMO Plan that may allow you to get some services out-of-network for a higher cost.
  • Medical Savings Account (MSA) Plans: A plan that combines a high deductible health plan with a bank account. Medicare deposits money into the account (usually less than the deductible). You can use the money to pay for your health care services during the year

There are specified periods when a person can enroll in a Medicare Advantage Plan.

Open Enrollment from October 15th to December 7th

When you are first eligible for Medicare

Or other Special Election Periods defined by Medicare

Advantage to using Medicare Advantage Plans

Medicare Advantage Plans have $0 premium to very low premiums depending on the plan.

Part D is included in most plans.

Lower potential out of pocket costs than original Medicare

Disadvantages

There are copays and deductibles.  There may also be Networks that you will need to use.

Higher out of pocket costs than a Medicare Supplement if you need to use the plan.

For more information and to receive your Free Guide to Medicare Fill out the form below or call 877-546-7441

For more information contact Ted Ratliff at SeniorCare Financial Services 877-546-7441 or email us at ted@seniorcarefinancialservices.com