Medicare Advantage Plans
Our goal is to help match you with Medicare coverage that meets your needs. We believe it’s imperative for our clients to understand the different parts of Medicare, how each part impacts the doctors they can see, and how much they pay for their prescription drugs.
What is Medicare Part C?
Medicare Advantage (MA) plans are private insurance plans that offer an alternative to traditional Medicare (Part A and Part B). This whitepaper aims to provide a comprehensive overview of Medicare Advantage plans, including their differences with Original Medicare, coverage, cost, and extra benefits.
Medicare Advantage vs. Original Medicare
The primary difference between Medicare Advantage and Original Medicare is the way in which beneficiaries receive their benefits. With Original Medicare, the government pays for healthcare services directly, while beneficiaries may be responsible for deductibles, copays, and coinsurance.
In contrast, Medicare Advantage plans are offered by private insurance companies and cover all the services covered by Original Medicare (Part A and Part B). Additionally, Medicare Advantage plans may include extra benefits such as vision, dental, hearing, and prescription drug coverage.
Why People Choose Medicare Advantage
One reason why people choose Medicare Advantage is the additional benefits offered. The extra benefits may include prescription drug coverage, vision, dental, and hearing services, which are not covered by Original Medicare.
Another reason is the cost. Medicare Advantage plans often have lower out-of-pocket costs than Original Medicare. This may be because MA plans negotiate with healthcare providers to offer lower rates, and the plans may also have annual limits on out-of-pocket spending.
What Medicare Advantage Plans Cover
Medicare Advantage plans cover all the services provided by Original Medicare, including hospital stays (Part A) and medical services (Part B). Additionally, MA plans may provide coverage for prescription drugs, vision, dental, hearing, and wellness programs.
The specific benefits and coverage offered by Medicare Advantage plans vary by plan, so it is essential to review the plan details carefully before enrolling.
How Much Do Medicare Advantage Plans Cost?
Medicare Advantage plans may have premiums, deductibles, copays, and coinsurance. The cost of MA plans varies based on the specific plan and the individual’s health needs.
The average monthly premium for a Medicare Advantage plan in 2022 is $33, which is down from $36.06 in 2021. However, some plans may have $0 premiums, which may be attractive to beneficiaries on a fixed income.
Contact Harry Kahn today for a no-cost, no-obligation Medicare consultation.
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