Medicare Advantage plans are privately-run versions of Medicare that offer additional benefits and services at an affordable cost. If you’re currently on Original Medicare, you can sign up for a stand-alone Medicare Advantage plan to give you more coverage than the basic version offers.
Additionally, there are also prescription drug plans that require you to first enroll in a separate Part D plan before you can begin using your drug coverage. These plans may be right for you if you want more out of your healthcare while still saving money. Keep reading to learn more about Medicare Advantage plans and know the factors before choosing one.
A Brief Introduction To Medicare Advantage Plan
An Advantage plan is a type of health insurance that is offered by private insurance companies for individuals on Medicare. These plans are similar to Medicare, but they cover more services and have a lower out-of-pocket cost for the insured person. This type of insurance plan is not mandatory, but it is a good option for those who are on Medicare and have trouble finding affordable healthcare.
Can You Stay On Traditional Medicare And Still Use An Advantage Plan?
Yes, you can remain on Medicare and also sign up for a Medicare Advantage plan at the same time. If you do decide to sign up for an Advantage plan, you will also need to drop your Medicare coverage. This means that you will not be able to use any services covered by Medicare, and you will not be eligible for any Medicare subsidized coverage.
How To Choose A Medicare Advantage Plan
Find out what is available in your area. You should be able to find a list of Medicare Advantage Plans online or contact your local Department of Health and Human Services office to determine what is offered in your area. Compare plans based on coverage and cost. You will want to make sure to compare plans based on coverage and cost.
The Pros Of Joining A Medicare Advantage Plan
– Additional Benefits – Advantage plans provide additional benefits when compared to Original Medicare, including prescription drug coverage, dental and vision coverage, and gym memberships. – Lower Out-of-Pocket Costs
– Advantage plans generally have lower out-of-pocket costs than the Original Medicare plan. This means that you will have lower monthly premiums and copays than you would if you remained on Original Medicare.
– Support – Advantage plans provide you with the support that you may not otherwise have if you only have the core Original Medicare coverage.
Tips For Finding The Right Advantage Plan For You
– Research available plans – Before choosing an Advantage plan, you should research available plans to determine which one is right for you. You should consider the coverage provided by each plan and the cost of each plan.
– Ask family and friends – You can also ask family and friends about their experience with specific Advantage plans to help you make your decision.
Why Join A Medicare Advantage Plan?
– Lower Out-of-Pocket Costs – Advantage plans generally have lower out-of-pocket costs than the Original Medicare plan. This means that you will have lower monthly premiums and copays than you would if you remained on Original Medicare.
– More Convenience – Advantage plans provide you with more convenience as they are often one-stop shops for your Medicare needs. Choosing a Medicare Advantage plan can be the best way to receive the healthcare benefits you need without breaking the bank.