Are you wondering if Medicare Advantage plans are right for you? Like all other things in life there are Medicare Advantage plans also featuring both pros and cons. Yet, finding the appropriate Medicare Advantage plans or types of insurance may be confusing for seniors, particularly when they are expected to go through some 150pages. The booklet issues by the government ‘Medicare and You’ are received on approaching 65 years. Here are a list of advantages and disadvantage on choosing Medicare Advantage plans.
Medicare Advantage, what is it?
Medicare Advantage includes insurance plans in a group provided by the private companies and these are in replacement of the Original Medicare. It implies that in case you consider Medicare Advantage plans, the Part A and B Medicare covered traditionally will now also be covered in the MA plans.
The benefits of MA may be different slightly than with Original Medicare. Yet, they are by law offering same benefits. Here are some pros and cons that will give you clarity on Medicare Advantage plans.
- $6700 is the maximum out-of –pocket expenses a year.
- Many plans are $0 a month
- Mostly includes the coverage for prescription drugs.
- Most Medicare Advantage plans include dental and hearing
- Difficult to switch during open enrollment to another plan of MA
- Requires to pay for coinsurance fees and co-pays
- Difficult to compare the plans as no two plans of MA are similar
- There is no coverage offered nationwide for drugs
- Only the HMO plans of MA demand referrals to visit a specialist
- Plan can be changed each year
- Tough to switch plans such as Medigap
There is no doubt that the Medicare Advantage plans are affordable, it includes caps and Rx coverage up to $6700. Most people consider 3 options to research with health coverage such as:
- Original Medicare
- Original Medicare + Medigap
- Medicare Advantage plans
Get free quote today www.medisupps.com/united-healthcare-medicare-supplemental-insurance-2018/.
As Medicare Advantage has maximum out-of-pocket expenses, the offers are equivalent to benefits of Medicare, and it also includes Part D, the drug coverage. Generally, MA offers more protection in comparison to the Original Medicare. If you wish for more medical fee coverage, you must consider Medigap.
Medigap is not the same as MA. The plans of Medigap complement Original Medicare and cover all the deductibles coinsurance and co-pays of the Original Medicare, and yet provide additional coverage.