Medicare Advantage plans provide Medicare beneficiaries an option for private health care plans that give them access to innovative programs. These plans are similar to health plans enjoyed by millions of Americans through private employers. Best Medicare Advantage plans are a critical safety net for the seniors across the county, enrolling more than 26 million seniors and disabled individuals. Medicare Advantage plans offer better healthcare services and better access to health care. Thus, the popularity of Medicare Advantage is growing among Americans over the years. Medicare Advantage plans offer a great value and cost less than Medicare Supplement plans, as MD plans come with copays that require the insured to pay only for the healthcare services they need and avail.
Medicare Advantage Plans also known as “Part C” or “MA Plans” are an alternative way of receiving Medicare Part A and Part B coverage. These plans can only be offered by Medicare-approved private health insurance carriers that abide by the rules set by Medicare. Seniors who want to include drug coverage in their MA plan should enroll in the plan that includes drug coverage. Members of the MA plans are supposed to visit in-network healthcare practitioners to receive healthcare services at the lowest costs, and to avoid paying unexpected costs. Some of the MA plans do provide out-of-network coverage but usually at a higher cost. Medicare Advantage plans provide plan flexibility, long-term savings, and better healthcare.
Coverage under Medicare Advantage Plans
Medicare Part C or Medicare Advantage plans combine Original Medicare coverage comprising Part A and Part B along with other additional benefits such as:
Seniors will need to use their Medicare Advantage Plan card to avail healthcare services covered under Medicare.
Key Benefits of Medicare Advantage Plans
The rising popularity of Medicare Advantage plans among an increasing number of seniors indicates that they are enjoying the benefits offered by MA plans compared to Original Medicare. Some of the major benefits of Medicare Advantage plans include:
Personalized Plan Structure – Medicare Advantage plans are structured into different types so that seniors can enroll in the plan depending upon their personal condition. Seniors who prefer freedom and flexibility can opt for a PPO or PFFS plan, and seniors having chronic health conditions can pick an SNP Advantage plan.
Comprehensive Coverage Option - Unlike Original Medicare that provides medical and hospital insurance, Medicare Advantage plans provide comprehensive coverage in just one convenient plan. Original Medicare enrollees who want additional coverage need to purchase Medicare Part D for prescription drug coverage and Medigap for supplemental coverage but Medical Advantage plans have these coverages included in one convenient plan.
Coordinated Medical Care - Medicare Advantage plans offer coordinated medical care to enrollees, which means their healthcare providers coordinate their medical care between their different healthcare services and medical specialties. The enrollees of MA plans will have a healthcare team and they will be saved from unnecessary expenses and medication interaction issues. Coordinated medical care indicates high patient ratings and positive medical staff experiences.
Cost-Saving Option - Medicare Advantage plans provide cost-saving opportunities to enrollees because MA plans either have no premiums or offer low or no deductibles. Besides, these plans also set limits on the maximum out-of-pocket costs that enrollees will pay during a year. Research has indicated that enrollees of these plans save money on laboratory services and medical equipment if they switch to the Medicare Advantage plan.
However, the availability of Medicare Advantage plans varies across the country, so seniors first need to find out Medicare Advantage plans available in their area to pick the best option available. No private health insurance carrier is offering MA plans in Alaska, and only 1 carrier is offering Medicare Advantage plans in Wyoming and ten carriers are offering MA plans in Arizona, California, Ohio, and Florida. However, 99% of Medicare enrollees across the country have access to at least one Medicare Advantage plan.
Summary - Medicare Advantage plans are designed to provide an additional insurance option to Original Medicare enrollees, as Original Medicare covers only hospital services and outpatient medical services. Medicare Advantage plans are offered through private insurance carriers and provide coverage for Medicare Part A and Part B along with some additional services like prescription drugs, dental, vision, and others.
