Medicare Conveniences Tactics
Medicare Advantage plans can be distinguished from Medicare supplement coverage by having many differences. 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 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. After Medicare and private supplement companies have paid their portion, individuals might be responsible for the rest. 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 can sometimes be called “all in one” plans, as they include other coverages. Part C plans may include prescription drug coverage. These plans are also known as MAPD (Medicare Benefit Prescription Drug) plans. Some plans provide coverage for vision, hearing, dental, wellness, and/or other benefits. Medicare Advantage plans can be very different and should be carefully reviewed on an individual basis.
Medicare Advantage plans include a premium. These premiums can be very different. There are plans with a $0 monthly fee. However, to be eligible for Medicare Advantage plans, the individual must still pay the Part B premium. Access to a plan varies by county. One example is a $0 monthly plan with premium that may be available in one area but not another.