Now, we want to talk about how Medicare Advantage will provide coverage for your healthcare expenses.
It stands out among the many health insurance plans available because of its massive coverage.
Here is a breakdown of the kind of expenses that Medicare Advantage 2021 will be covering for you:
Outpatient medical expenses under Medicare Part B
Inpatient medical expenses under Medicare Part A
Urgently needed medical care
Emergency medical services
With Medicare Advantage Policy, you can get much more than just Medicare plans.
Signing up for Medicare plan from a trusted insurance provider like AARP, you can get extensive coverage because of their diversified network.
It offers the most comprehensive and largest Advantage plans with a wide range of insurance options for the seniors of 65 age or above.
You can feel protected and tension free by enrolling in the AARP Medicare Advantage plan while leaving behind the worries of paying the bills of doctors, specialists, pharmacies, and hospitals.
Just imagine, how little weight there will be in your pocket if you get any medical emergency or pay for your healthcare services.
Within each of these items is a lot of other smaller coverage items.
For instance, emergency care can include ambulance transport and emergency room coverage.
While the list above may only comprise four items, there is a lot that is being covered by those four items.
Most of your out-of-pocket medical expenses will be covered once you get a Medicare Advantage plan, and what we have told you about so far is just the basic, standard plan.
This is what every Medicare Advantage plan has to offer you.
If you go for a higher coverage Advantage plan, then you can be covered for even more.
All Advantage plans start with those four items of coverage, and a lot of them will include additional coverage, such as for Medicare Part D.
This drug plan covers prescription items and includes coverage for both generic and brand name pharmaceuticals.
It offers tiered coverage that means some drugs are covered almost entirely while others are only covered partially.
Many Advantage plans will also include cover for routine wellness checkups.
These are annual checkups that could pertain to your vision, your hearing or just general wellness.
You can be covered whether you are visiting your general practitioner or you are going to a specialist.
If your checkup results in a prescription for a hearing aid or for new glasses, then those may be covered as well.
This is one of the best preventative care coverage plans you can get, and it is one that every senior should be considering.
The Cost of Medicare Advantage for 2021
Now, 2021 is still months away, so prices have not been officially announced yet for these Advantage plans.
We can’t tell you just yet what the rates will be, but we can give you an idea of them and help you to prepare to pay the monthly premiums, should you decide to sign up for Medicare Advantage.
Right now, the average cost of a Medicare Advantage plan is about $140, but the prices start as low as $0 per month and go up to $300 per month and beyond.
That may seem like a huge difference in pricing and you may wonder why everyone doesn’t just seek out a $0 plan.
The reason is that with a low monthly premium you will have to pay a higher deductible.
So, you pay more out of pocket each time you need the coverage from your plan, meaning that a $0 monthly premium will actually be provided by a plan that is covering you for less.
Our website is designed to help you find prices on Medicare Advantage plans, and as soon as the 2021 prices become available, they will be posted here on our site.
We make it easy to find out what the rates are for your local area, as we use your zip code to give you relevant rates.
We don’t do like some similar services and store rates on our site.
Instead, we source them directly from the various insurance companies as soon as you request a quote.
This way, you always get accurate, relevant and up-to-date prices.
We encourage seniors to compare Medicare Advantage plans for 2021, both in their coverage and in their rates.
This helps you to get the best possible coverage at the best possible price, and that’s what every senior should be aiming for.
The more prices you source and compare, the more likely you are to find that great deal that saves you hundreds of dollars a year on medical insurance.
You can get a list of quotes from us every time you perform a search, as we will show you what the rates are for a given plan for your area, and we show you what multiple insurance companies are charging for that plan.
This shows you how they compare and allows you to easily determine which insurance company is going to save you the most money.
There is a key component to Medicare Advantage plans for 20201 that makes them stand out from other kinds of health insurance plans available in the same time period.
This is the network coverage.
What that means is that every insurance company selling these plans will be limited as to where they can give you coverage based on whether you are on their network or not.
That’s a network that is comprised of all the clinics, hospitals, rehab centers, skilled nursing facilities, doctor’s offices and pharmacies that have agreed to honor their plans.
The larger insurance companies like Aetna, Mutual of Omaha, Humana and others that operate nationwide will have very large network.
They will ensure that their plans are accepted at most medical care facilities across the country.
However, there will always be places where people live that their network does not extend to.
Once you live outside of their network area, they cannot provide you with full coverage.
You may be able to get partial coverage from your plan there, however.
The PPO option is a bit more complex.
It will cover you fully on the network as well, but if you go outside of your carrier’s network, you can still get coverage from the PPO Advantage plan.
It won’t be full coverage, by any means, but this partial coverage can still help to keep your medical expenses low and manageable.
The PPO option costs more than the HMO, as you might imagine, but it can also be very helpful for people who live or travel outside of their carrier’s network area.
If you are not sure which option to go with, then you can always consult with our health insurance experts.
We can help you to make the right decision and show you how one option might be better for you than another because of your situation.
Consultations with our team cost you nothing, and we make it our goal to help you find the most suitable and affordable healthcare coverage plan.
Health Insurance Carriers You Should Know about
Medicare Advantage is sold privately, by insurance companies that operate under the rules that Medicare has established.
However, these carriers are allowed to set their own rates and determine what kinds of Medicare Advantage plans they want to offer.
They all have their own lineup of plans, and they have unique network coverage areas.
We want to point out a few of the larger companies that have a lot to offer their customers. One of these may be the carrier that is right for you for 2021.
AARP/United Healthcare (NYSE: UNH)
Medicare Advantage plans through AARP come packaged with some great senior-focused perks.
These can include pharmacy plans, coverage for elective medical treatments, free medical professional consultations over the phone, gym memberships and a whole lot more.
AARP offers the most robust lineup of perks that you will find anywhere, and they have the prices to match.
You will likely have to pay more for United Healthcare (AARP) Medicare Advantage 2021 than you will for most other plans, but you also get more.
Humana offers a wide range of Medicare Advantage plans for you to pick from.
Their plans go by names like Humana Gold Choice and Humana Choice Pro, and all of the Humana Medicare Advantage 2021 plans are packed with additional member benefits that cost you nothing extra.
The company has an extensive network area and will be able to provide you with coverage in most areas of the country.
Aetna- (NYSE: AET)
Anyone signing up for Aetna Medicare Advantage plans for 2021 will have various nonessential medical expenses covered and enjoy perks like free gym membership, personalized diet and fitness plans and even home drop-off for prescription medications.
Aetna also does a great job of ensuring its members have online access to their plans and can use many of their services while on the go, with mobile functionality for greater convenience.
BCBS- (NYSE: ANTM)
Blue Cross Blue Shield (BCBS) is unique in that it is not just one company but a collection of smaller companies that are working together.
They share common operating guidelines, the most important of which are their low prices and great customer service.
They are known for these two factors, and while they may not offer all the perks of other insurance providers, Blue Cross Medicare Advantage 2021 is packed with value due to its competitive price.
Check out the rates here on our site to see just how competitive they can be.
How Medicare Advantage Works with Your Healthcare Plan Plans for 2020
Do you have a medical insurance plan right now?
If so, then you are probably looking at this page because your plan isn’t quite cutting it for you.
Your current coverage may not be covering you enough and may be leaving you too many medical bills to pay out of pocket.
Or you may be fairly well covered but might be paying too much for your monthly insurance premiums.
In either of these cases, you want to know how Medicare Advantage will work with your current plan and if you can just add on Advantage coverage or if you need to replace what you have with Medicare Advantage.
There will be instances where you can keep your current medical coverage and simply add Medicare Advantage to it.
There will be other instances where the two kinds of plans will conflict with one another and will overlap.
At that point, you will have to make a choice to drop one plan or the other.
Medicare Advantage plans will work with only some medical insurance policies.
They work well with Original Medicare, because Advantage plans are designed to replace that without making you give up that coverage entirely.
You will still get a small portion of your healthcare coverage through Original Medicare, which will be the Medicare Part A hospice coverage.
The rest will be covered by your new carrier as they become the provider for Medicare parts A and B for you.
While each carrier’s Part D plan is a bit different, there will be overlap between two different versions of Part D, so you will have to decide between one or the other.
You can either get it included in the Advantage plan or buy it separately, if you want Medicare Part D.
Now, Medicare Advantage will conflict with all Medigap (Medicare Supplements) and pretty much every union or employer medical insurance plan.
If you have any of those, then you will need to drop them before you sign up for Medicare Advantage.
If you need any clarification on compatibility between Medicare Advantage plans for 2021 and any other medical insurance plans, then please give us a call. Our team will be happy to assist you.
Compare Medicare Advantage Plans and How Medicare It Works
Each kind of Medicare plan- Original Medicare, Medicare Supplements, Medicare Advantage, Medicare Part D- works a little differently.
There are some quirks and characteristics of Advantage plans that you should be familiar with to have a better idea of how this kind of plan will suit you.
Advantage plans are sold privately, which means you won’t find them through Medicare itself.
You have to go to a private insurance company such as AARP, Mutual of Omaha, Cigna, Aetna or one of the many other national and local insurance companies that sell them.
Each of these insurers has to provide Advantage plans that have basic coverage, but they can add some coverage onto that to make the plans their own and to set them apart.
This gives you some options, and we’ll get into the different medical expenses they can cover for you shortly.
Advantage plans will essentially replace your Original Medicare plan, if you indeed have one.
If you don’t have Original Medicare, then you can still sign up for the Advantage plan, and it will serve as a substitute for Original Medicare, covering many of the same expenses.
It covers the cost of most Medicare Part A and Part B services, which takes care of a lot of the cost of hospital stays, bloodwork, lab tests, blood use, prescription drugs, doctor visits and more.
It also covers you for all urgently needed medical services or those categorized as emergency services.
This basic coverage is provided for you no matter which insurance company you buy your Advantage plan from and what kind of Advantage plan you get.
Even the price you pay for the plan does not affect the basic coverage. You are guaranteed at least this amount of coverage with Advantage plans.
Advantage plans will all be restricted by their insurer’s network.
That network refers to any clinic, doctor office, hospital and even pharmacy that has decided to accept the insurance company’s coverage plans.
If you go to any medical facility or pharmacy that is on the network and you receive healthcare services there, then your plan will be valid there and you will receive full coverage.
It doesn’t matter what kind of Advantage plan you pick- the full coverage of your plan is always available the network.
But what happens when you go off the network for medical services?
How much you are covered for according to your plan will vary based on the kind of network option you chose.
There are two basic network options to pick from these are HMOs and PPOs. The one most people will go for is the HMO.
This covers you solely on the network. Off the network, it will do nothing for you, except in some emergency situations when you have no choice but to go to an off-network facility for treatment.
PPOs give you better coverage, but they also cost you more.
These will cover you full on the network as you might expect, but of you go to a medical facility that is not part of your insurer’s network, and you have a PPO plan, then you will be covered partially.
That gives you freedom to go just about anywhere for medical coverage, but you need to bear in the mind the lowered coverage off the network and the higher costs for the PPO plan.
What Sets Advantage Plans Apart from Each Other?
Besides the network choices the various Advantage plans comes with, there are also coverage differences between the plans.
Some of them will only offer you the basic coverage all Advantage plans must include. Others will offer you a lot more, providing powerful coverage that leaves you very little to pay out of your own pockets.
There are to additional coverage items that many advantage plans will offer.
These are Medicare Part D and coverage for checkups.
Part D includes full coverage for the prescription drug plan, which provides you with tiered coverage for drugs.
What that means is that some drugs will be covered entirely under this plan, while others will be covered only partially.
There are tiers of coverage that give you high to low coverage for different drugs, depending on the Part D plan you end up with.
Each insurance company that offers Part D has their own version of it, so the coverage will be a bit different on each one.
Checkup coverage takes care of the cost of visiting the doctor or a specialist of some sort to have your hearing, your vision or general wellness examined.
This same item of coverage may also be able to absorb the cost of prescription eyeglasses or a hearing aid for you, as well as other related charges.
You’ll find that a lot of Medicare Advantage plans 2021 is offering will cover all of these additional expenses for you, but that may be too much coverage for you.
In that case, you should look for a basic Advantage plan or find an alternative that will provide you with suitable coverage.
You Do Have Other Options
You don’t have to go with an Advantage plan. As a senior, you have lots of choices for medical insurance plans.
You could go with a Medicare Supplement plan, which will cover you for those expense that are related to Medicare Part A and Part B but are not already covered by Original Medicare.
If you are going to sign up for a Medicare Supplement plan, you will need to have an Original Medicare plan as well.
These two plans work together to provide you with a blanket of coverage that includes cover for most outpatient and inpatient costs.
You can choose from one of 10 different Medicare Supplements, but know that two of them will not be available to new subscribers.
If you have not signed up for a Medicare Supplement before, then you cannot sign up for either Plan F or Plan C.
These two high coverage plans are limited to only current subscribers because they are often overpriced, and legislation that has been passed only recently has limited who can sign up for them.
This will still be in effect in 2020.
Supplement plans can cover a variety of medical expenses for you.
The most notable ones, or the ones that will be common expenses for the majority of people, will be deductibles for Medicare Part A and Part B, as well as coinsurance costs for Part A and Part B, including coinsurance for both hospital stays and hospice care.
Supplement plans also provide coverage for some other blood you use every year, your foreign travel exchange costs (regarding emergency medical transport) and excess charges related to Medicare Part B services at medical facilities that do not fully accept Medicare coverage.
Knowing about your alternatives is a good way to determine what your best insurance option is.
Advantage plans may offer a way to lower your costs and keep you covered for out-of-pocket expenses, but they may not be your best choice.
The more options you look at, the better your chances will be that you will find the very best plan for you.
There are other choices for you than just Medicare Supplements and Medicare Advantage, though.
You could also get Medicare Part D on its own, if you like.
Or, if Part D is not included in the Advantage plan you end up signing up for, then you could always buy it separately and essentially tack it onto the coverage you already have.
If you want a Medicare Advantage plan to provide your healthcare coverage, then you want to be sure you pick the right one.
There are lots of insurance companies out there offering many different versions of these plans.
In order to find one that suits you well, you first need to assess your medical coverage needs.
Look at those expense that you are paying out of pocket for right now and especially focus on those expense that you struggle pay each year or each month.
Many of those may be able to be covered by the right Advantage plan.
These are expansive plans that can cover all sorts of healthcare costs for you, but you need to make sure you find one that suits you.
The cost of the plan needs to be factored in as well.
You’ll want to care costs and ensure that you find an affordable plan.
Assess your current healthcare coverage costs and how an Advantage plan may lower or increase those costs you pay each month and each year.
If you look, you can find Advantage plans that offer $0 premiums, which means you are paying nothing each month for that plan.
You will still need to pay the monthly premium on Medicare Part B, though. You also need to pay the deductible for the Advantage plan, so it is not like it is free, but it doesn’t have to be overly expensive.
In fact, Advantage plans can be some of the most economical choices for medical insurance.
To find the best Advantage plan in 2021, you also need to compare the network.
Determine whether you would benefit more from a cheaper but lower coverage HMO or a more expensive but higher coverage PPO.
Also look at the network for any insurance company you are considering buying an Advantage plan from.
This is not a problem you run into with Supplement plans, but Advantage plans are limited by their network.
You may have to look at a different insurer to buy your plan from, if the network for a specific insurance company is not relevant to your area.
You can do a lot of your comparing by using a price comparison service, which is a free service online that lets you search for your desired plan.
In a matter of moments, it gives you results for
that plan, showing you what several insurance companies in your area charge for the plans.
That allows you to easily compare prices and find the best rates, and you can save so much money this way.
Just by choosing one slightly cheaper plan over another plan, you can save hundreds of dollars a year.
Choosing a plan with the appropriate coverage can save you even more, as you will have fewer out-of-pocket costs.
You will also have more peace of mind and not have to worry so much about whether you will be properly covered when you go to the hospital for treatment or go to visit your doctor.
By choosing the right Medicare Advantage plans 2021 has to offer, you will worry less, pay less and be more likely to seek out medical care when you need it.
You don’t have to stay at home sick because you fret about the cost of healthcare any longer.
Choosing the right plan ensures that you are covered well and that your finances can handle the monthly and yearly costs of the insurance plan you chose.