Health Insurance Conveniences Plans
Medicare Advantage plans differ from Medicare Supplements in many ways. 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 does not cover Medicare Advantage plans. Medicare Advantage plans must include all services.
Original Medicare has providers billing Medicare at first, and then a supplement firm. 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 are sometimes called “all of the above” because they provide coverages beyond medical. Part C plans often include prescription drug coverage. These plans are sometimes referred as MAPD plans (Medicare Advantage prescription drug). Some plans provide coverage for vision, hearing, dental, wellness, and/or other benefits. Medicare Advantage plans differ greatly so it is important to review each plan individually.
Medicare Advantage plans include a premium. These premiums can be very different. There are some plans that charge $0 per month. However, Medicare Advantage plans do not require individuals to pay the Part A premium in order to sign up. The availability of plan access can vary greatly from one county to the next. One example is a $0 monthly plan with premium that may be available in one area but not another.