Medicare Perk Tactics
Medicare Advantage plans can be distinguished from Medicare supplement coverage by having many differences. My clients should consider Medicare Advantage plans as an alternative to Original Medicare coverage. Original Medicare covers Parts A and BC. Medicare Advantage plans, also known as Part C or MA plans, are part of Original Medicare. Original Medicare only covers Medicare Advantage. Medicare Advantage plans must also cover all services not covered by Original Medicare.
Original Medicare is where providers bill Medicare first and then bill a supplement provider. Individuals may be responsible for any portion that is not paid by Medicare or the private supplement company. Medicare Advantage plans are billed by the private insurance company. If an individual has a Part C plan (MA) with company XYZ, and visits his primary physician or receives services at a hospital for treatment, the bill will go to company XYZ, not Medicare. In this instance, the individual might be responsible to pay a copay or deductible.
Medicare Advantage plans sometimes are called “all – in-one” plans. They include coverages that go beyond just medical. Part C plans typically include prescription drug coverage. These plans are often called MAPD (Medicare Assistance Prescription Drug) plans. Some plans offer coverage for hearing, vision, wellness programs, and/or additional ancillary benefits. Medicare Advantage plans can be very different and should be carefully reviewed on an individual basis.
Medicare Advantage plans can have a premium. These premiums are variable. There are plans that offer a $0 monthly Premium. However, to be eligible for Medicare Advantage plans, the individual must still pay the Part B premium. Access to plan options varies depending on where you live. For example, a $0 monthly Premium Plan may be offered in one county, but not in another.