Health Insurance Benefit Tactics
Medicare Advantage plans are different from Medicare supplements in that they offer several advantages. My clients are advised to consider Medicare Advantage plans an alternative to Original Medicare coverage. Original Medicare includes Parts A, B and Medicare Advantage plans are sometimes called Part C or MA plans. Original Medicare only covers Medicare Advantage. Medicare Advantage plans must also cover all services not covered by Original Medicare.
Original Medicare providers first bill Medicare, then they bill a supplement company. Individuals could be responsible for the remaining portion of the Medicare supplement company and Medicare. Medicare Advantage plans will bill 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 may include prescription drug coverage. These plans are also known as MAPD (Medicare Benefit Prescription Drug) plans. Some plans offer coverage for hearing, vision, wellness programs, and/or additional ancillary benefits. Medicare Advantage plans are very diverse and should be reviewed individually.
Medicare Advantage plans include a premium. These premiums may vary. 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 a plan varies by county. A $0 monthly premium plan, for example, may be available in one county but not in another.