Medicare Advantage Plans
Medicare Advantage Plans
Medicare Advantage Plans are becoming extremely popular due to the additional benefits that are offered. Some of the extra benefits that are usually offered are extra days in the hospital, lower out pocket costs for doctor visits, prescriptions and others.
The Medicare Advantage Plan is offered all through the United States via private insurers. Part A and Part B of Medicare are necessary to join the plan and the Medicare part B premium must be paid by the Medicare receiver. Private insurers offer plans which have varying co-payments and premiums that begin at $0 per month.
The Advantages of a Medicare Advantage Plan
- Medicare Advantage plans are available with little or nearly no monthly premiums.
- Medicare Advantage plan holders are still in Medicare and hold the rights and protections of Medicare.
- A Medicare Advantage plan holder continues to receive regular Medicare covered services. Additionally, a Medicare Advantage plan holder will also have access to additional services which neither Medicare Supplements nor the original Medicare provides.
- Prescription Drug plans frequently are included in the Medicare Advantage plan while Medicare supplemental policyholders must pay extra for the Part D plan.
- The Medicare Advantage plan is growing. In 1996 only 15% of American counties had a Medicare Advantage plan available but now the Medicare Advantage plans are offered to 98% of the counties in the United States.
- Medicare supplemental policyholders pay money whether you get sick or not. Medicare Advantage plans have the policyholders make a small co-payment for doctor visits and a somewhat bigger co-payment for hospital visits.
- The Medicare receiver should know that a Medicare Advantage plans guarantees that even in a time of poor health there is a maximum out of pocket expense. A Medicare supplement (Medigap) policy guarantees the Medicare recipient to spend $1,600 to $2,000 a year even if you never go to the doctor.
- Needing a referral from your primary physician (PCP) to see a specialist is a thing of the past. Medicare Advantage plans permit the policyholder to go to any doctor or hospital with no referrals.
- If you do not have End Stage Renal Disease (kidney failure) then you meet the criteria for the advantages of a Medicare Advantage plan. In some countries there are some companies specifically for people with end stage renal disease.
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