Medicare Conveniences Plans
Medicare Advantage plans offer many advantages over Medicare supplements. My clients often think of Medicare Advantage plans in addition 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 doesn’t cover Medicare Advantage plans. Medicare Advantage plans have to include all of the services Original Medicare covers.
Original Medicare allows providers to bill Medicare initially and then later bill a Supplement Company. Individuals could be responsible for the remaining portion of the Medicare supplement company and Medicare. Medicare Advantage plans include private insurance companies being billed. 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 may sometimes be called “all-in one” plans. This is because they offer additional coverages. Part C plans typically include prescription drug coverage. These plans are sometimes referred as MAPD plans (Medicare Advantage prescription drug). 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 may have a premium. These premiums can be very different. There are plans that offer a $0 monthly Premium. However, Medicare Advantage plans do not require individuals to pay the Part A premium in order to sign up. Access to plan options varies depending on where you live. For example, in one county, a $0 monthly premium policy may be available. However, it may not be in another.