Medicare Advantage Plan
Medicare Advantage plans are medical insurance plans that are sold privately by the insurance companies to cover the medical expense of the seniors. By subscribing to a Medicare Advantage plan, seniors of 65 age or above can have protection, which saves them from paying so money for their medical needs.
The Advantage plans are famous for their high coverage as compare to other plans. Although, it won’t be a perfect plan for every individual but would be the best for those who actually use them. Are you not satisfied with the coverage of your plan? If so, then you should either cancel your plan or switch to any other plan that gives you more coverage to meet your healthcare needs. Here is the detail about what expenses are covered by the Medicare Advantage plan.
Coverage of Medicare Advantage
After registering for the Medicare Advantage, there are certain services that are guaranteed in the coverage of the plan. This coverage is also called as base coverage, which is offered in every Medicare Advantage plan. In this base coverage, you get guaranteed protection for these expenses:
- Hospital stays
- Emergency services (like ER and ambulance)
- Doctor’s clinic visit
- Expert nursing care
- Annual blood usage except for the first 3 pints
Other than the above expenses, there are some other things as well that can be covered. It is better to discuss your case either with the doctor, insurance agent or our expert to know how well this base Medicare Advantage plan is going to protect your medical needs.
Apart from the base Medicare Advantage plan, there are some more plans like Medicare Part D Advantage plans, which cover the maximum base items and the vigorous prescription drug coverage as well. This drug coverage includes generic and name-brand drugs. However, it is not necessary that you will definitely get the coverage for all the prescription drugs but getting it for some of the medicines is a good deal. You can also avail of the refill for those drugs whenever needed throughout the year.
The Medical Advantage plans also offer coverage for a routine checkup in most of its plans. In this way, you can pay a routine visit for a checkup to the dentist, general doctor, ear, and eye specialist twice a year with complete or partial coverage. Moreover, if the eye doctor suggest for a new pair of eyeglasses or ear doctor prescribed a new hearing aid than both of these things will be covered by your insurance policy.
2021 Medicare Advantage Plans
How to get Medicare Advantage Policy
To avail the benefits from this plan, you need to enroll yourself during the enrollment period, which starts three months before your 65th birthday. You can subscribe to the Medicare Advantage plan before turning 65 but the plan will come into effect from the day you turn 65. You need to have an active Original Medicare plan as well. This is also of the condition to get registered to the Medicare Advantage plan. Whereas, you can apply for subscription to both these plans at the same time.
If you are already a subscriber of the Original Medicare plan then you can sign up later for the Medicare Advantage plan. What if you miss the chance to get register during your enrollment period? Don’t worry, there is a window open for enrollment every year, which starts from 15th October to 7th December. You can avail of this opportunity and get registered to the plan but you have to pay a higher rate as compared to the time that you missed around your 65th birthday.
The Medicare Advantage plans are sold privately by the insurance companies and you can not get it directly from Medicare. There are a plethora of insurance companies that are selling the plans locally and nationwide. The top nationwide insurance selling companies like Aetna, Cigna, AARP, and Humana offers incredible coverage, whereas there are many local companies that operate in a single state or city. You can use the comparison tool to check the best rates offered by these companies.
The free search and comparison tool on the website will only ask for the zip code and within seconds you’ll get a list of rates that will help you to decide, which plan is the best for you. The coverage of the plan is set by Medicare but the insurance companies have the freedom to set the rates of their choice. While doing the comparison, you will see that every insurer is charging different rates and you have to make the decision that which plan gives the best deal.
Most seniors ignore the benefit of comparing the price of the plan that is offered by different insurers and get register to the plan at a higher price in a hurry. Whereas, the other insurance company was selling the same plan at a lower rate. That’s the reason we always suggest doing a comparison before making the final decision from the search tool on the website to know, which company is offering the best rate.
Cost of Medicare Advantage
It is better to check what the plan will actually cost you before subscribing to it. A blunt decision will make you pay extra, which you could have purchased at a better and lower rate from any other insurer. The average monthly cost of the Medicare Advantage insurance policy is around $45 excluding the annual deductible.
However, you may find some plans that are available to purchase for as low as $0 monthly premium. The plan with a lower monthly premium will usually have a higher deductible than normal to compensate the amount for the low premium. Some seniors find it a better option to pay once rather than paying for the premium every month. Certain plans can cost a monthly premium of $100 or above depending on the type of plan you choose and the area you live in.
If you want to save money as much as you can and keep your cost low then make sure to get the best deal by doing the comparison of rates from our website.
Choosing an Appropriate Network Option
All the Medicare Advantage plans offer network options, which help you in getting coverage for the medical needs in your area. Some of the common network options to protect your healthcare expenses are mentioned below:
- HMO – It offers partial coverage of medical expense within the network and no coverage off-network and is comparatively cheaper and affordable than other plans
- PPO – you can avail of the benefits of partial coverage off-network and complete coverage within the network. It is known as the most expensive plan due to its off-network coverage
- PFFS – This plan is determined on the need basis as it covers you completely within the network and limited coverage outside the network
- Special Needs – Are you in search of a plan with a low rate and more coverage? Then Special Needs is the one for you. But to sign up for this plan you need to fulfill the requirement, which says that you have to be a subscriber of both Medicare and Medicaid plans.
If you still need any help to clear your confusion and decide which plan will work best for you, than forget to contact us, as our expert insurance agents are there to help you in making the right decision of choosing the Medicare Advantage plan that meets your healthcare needs.