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 has Parts A & B. Medicare Advantage plans can be called Part C, or MA plans. Original Medicare is not covered by Medicare Advantage plans. Medicare Advantage plans must provide all the services Original Medicare provides.
Original Medicare has providers billing Medicare at first, and then a supplement firm. Individuals may be responsible for any portion that is not paid by Medicare or the private supplement company. 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 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 often called MAPD (Medicare Assistance Prescription Drug) plans. Some plans provide coverage for vision, hearing, dental, wellness, and/or other benefits. Medicare Advantage plans are very diverse and should be reviewed individually.
Medicare Advantage plans come with 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. 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.