Medicare Advantage Plans
Medicare Part C, commonly called Medicare Advantage, is an alternative to Original Medicare that is offered by private insurance companies.
Medicare Advantage plans must cover all Part A and B services, but may have additional benefits. Many Medicare Advantage plans also include creditable prescription drug coverage, so you don’t need to purchase a stand-alone Part D drug plan. These plans are marketed as Medicare Advantage Prescription Drug (MAPD) plans.
There are a number of different types of Medicare Advantage plans:
- HMO – Plans that have a strict network where you must use doctors that are contracted with the plan.
- PPO – Plans that allow you to use doctors that are not contracted with the plan but may have higher costs of service.
- SNP – “Special Needs Plans” for people with specific circumstances. They may have a specific disease or condition, be confined to a nursing home, or have low income and qualify for Medicaid, to name a few examples.
- MSP – “Medicare Savings Plans” allow patients to see any Medicare insurance provider, but they have a higher deductible and provide money to the member in the beginning of the year to pay part of that deductible.
There are more types as well, but these are the ones we see most commonly in our market. These plans also change each year. The monthly premium for the plan as well as the copays that you would be responsible for are reviewed and can be updated annually. If you find this information daunting or confusing, we can help you put the pieces together!
Licensed Health Insurance Agents Can Help with Medicare Insurance Questions
Licensed health insurance agents are educated and trained on the insurance plans they work with and must update their education continually. They can analyze which plan may fit for your personal situation. This is why it’s good to know your health insurance representative and have their phone number handy. If your situation changes, your licensed insurance agent may have a better plan that can save you money. If you would like to speak with us, just call us at 877-588-7166 (TTY: 711).
Talk to Friends & Family
In addition, you may want to talk with others about their experiences with their Medicare Advantage plan. Ask your friends and family about what plan they selected, how they feel about it, and what they learned.
What’s the Real Shortcut & Time Saver?
Local, licensed health insurance agents are part of the community, and they field many of the same questions that you have on a daily basis.
You’ve got questions; we’ve got answers.
As licensed insurance agents, we are able to advise and sell Medicare Advantage plans every day across the United States, but we are local, too. We’ve enrolled thousands of eligible beneficiaries in plans that match their needs, and we’d be happy to help you, too. Of course, these services are obligation-free to you. Once you feel you are ready, give us a call. You can get this one off your to-do list.