Top Reasons to Choose Medicare Advantage Plans

Medicare takes care of your medical expenses if you are an American of 65 years and above or a younger individual with disabilities or End-Stage Renal Disease. It comes in four parts: Part A, B, C, and D, covering different health services.

Medicare Part C or Medicare Advantage plans are bundled plans from private insurance companies that become the primary payer in place of Medicare by offering regulated plans with actuarial equivalent coverage as Part A and B coverage. Most plans also offer combined Medicare Part D plans that cover Medicare prescription rates in Massachusetts and other areas. Additionally, you receive extra coverage that includes hearing, vision, and dental services.

Are you wondering if Medicare Part C plans are worth it? Read on to know the benefits of Medicare Advantage plans.

Convenient Additional Coverage

With Original Medicare plans, you receive only hospital and medical insurance coverage. You must have Medicare Part A and Part B to enroll in a Medicare Advantage plan.  On the other hand, Medicare Advantage plans in Florida and other regions offer multiple additional coverage benefits, a zero premium option and some also include a PartB premium giveback.

Some of the additional coverage options that go beyond the traditional healthcare benefits include:

  • Caregiver support
  • Part B premium give back
  • Fitness club membership
  • Bathroom safety equipment
  • Dental care
  • Hearing care
  • Meal benefits
  • Vision care
  • In-home support
  • Transportation assistance

Every Medicare Advantage plan does not offer all the above benefits. However, each plan offers some additional beneficial coverage.

Personalized Plan Structure

Medicare Advantage provides different types of plans to suit your situation. You can choose from the following types:

  • Health Maintenance Organization (HMO): These plans use in-network doctors. You may require referrals to consult specialists.
  • Private Fee-for-Service (PFFS): A PFFS plan offers more flexibility for any doctor who accepts Medicare and the PFFS plan payment.
  • Preferred Provider Organization (PPO): These plans allow out-of-network services at a higher copay and coinsurance rates than in-network services.
  • Special Needs Plans (SNPs): An SNP is beneficial if you have any chronic health issues. SNPs help with your long-term medical expenses.
  • Medical Savings Account (MSA): These plans involve savings accounts for medical purposes and are primarily available in rural areas with limited medical service options.

Prescription Drug Coverage

Along with the multiple additional coverage options, most Medicare Advantage plans cover Medicare prescription rates in Massachusetts and other areas. If you choose not to have a Part D prescription plan when you first become eligible at age 65, you may incur a penalty premium rate if you choose a Part D plan later in your life.

The cost of prescription drugs may vary for different plans. You have to make sure to check which medications a plan covers before enrolling in it. The drug formulary section of your plan mentions this information in detail.

Save Costs

Many Medicare Advantage Plans do not have any premium and offer no or low deductibles, co-pays, and co-insurance. It helps in saving high costs. Moreover, all plans set out-of-pocket spending limits for every year. Once you reach the limit, your insurer covers all your Medicare Part A and B costs.

With Medicare Advantage plans in Florida, you can also save costs on medical equipment and laboratory services. If you select a Health Maintenance Organization (HMO) plan, your plan saves expenses with in-network doctors as well.

You can receive several additional coverage options with Medicare Advantage plans. Choose a Medicare Part C plan that suits your medical needs and personal situation the best. It helps you save costs and receive coordinated medical care.

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