Medicare Advantage Plans act like regular insurance plans, except that they are written by Medicare who also administers these plans. Medicare Advantage Plans can also include prescription drug coverage. Remember that if you have one of these plans that a Medigap policy will not work. Medicare Advantage Plans may also require referrals for specialists or specialized treatment. This is also considered to be Part C and will also include both A and B. They can also include Part D. These plans are administered by private health companies and organizations that are approved by Medicare. They will charge different amounts for certain services. These costs will vary by plan.
These policies are also not considered to be supplemental to Medicare. They pay a fixed amount for your care every month to the insurance company or organization that provides you care. Medicare Advantage Plans will provide all of the Part A which is hospital insurance and Part B which is medical insurance. However, they will charge different out of pocket costs for each plans. They may also offer extra coverage such as health and wellness programs as well as vision, dental and hearing. They can also include prescription drug coverage for an extra cost.
Medicare Advantage Plans may require you to see a specialist after getting a referral and most have their own provider networks. This means that you may be only able to see doctors in your particular network except for medically necessary, emergency or urgently needed care. Your costs may be higher for seeing a doctor out of network. Here is what you need to know about Medicare Advantage Plans. You must have both A and B, don’t have end stage renal failure and live in the service plan of the area in question. You can only join these plans at certain times of the year.
January 1 – March 31 of each year, when you first become eligible for Medicare, between November 15 – December 31, or you are senior citizen Turning 65 or if you get Medicare due to disability, you have three months before your 25th month and 3 months after. This is basic information about Medicare Advantage Plans and what the requirements are for these plans as well as what they do. This information can help you when you need to make a choice about these types of plans as well as what times of the year that you can actually sign up for these insurance policies. The more information that you have, the better choice that you will be able to make.
For more information about Medicare Advantage Plans call us at: 1-877-384-9494.
