Health Insurance Perk Tactics
Medicare Advantage plans offer many advantages over Medicare supplements. 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 doesn’t cover Medicare Advantage plans. Medicare Advantage plans have to include all of the services Original Medicare covers.
Original Medicare providers first bill Medicare, then they bill a supplement company. After Medicare and the private supplement companies have paid their respective portions, the individuals could be responsible to pay the remainder. 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. This could mean that the individual will be responsible for either a copay, or a maximum amount.
Medicare Advantage plans can sometimes be called “all in one” plans, as they include other coverages. Part C plans often 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 come in many forms and must be evaluated individually.
Medicare Advantage plans can have a premium. These premiums may vary. There are some plans that charge $0 per month. Individuals still need to pay Part B premium to be able to enroll in Medicare Advantage plans. The availability of plan access can vary greatly from one county to the next. For example, in one county, a $0 monthly premium policy may be available. However, it may not be in another.