Medicare Advantage Plans
Everyone eligible to sign up for Original Medicare, which includes Part A for hospital insurance and Part B for medical insurance, can choose an optional Medicare Advantage Plan as an alternative to A and Part B coverage.
Choosing the right Medicare coverage for your situation can be overwhelming. Contact Anthony Mercado Agency in Orwigsburg, Pennsylvania, today to learn more about your options.
How Do Medicare Advantage Plans Work?
Medicare Advantage Plans—also called Medicare Part C—are an alternative to Original Medicare. Private insurers offer plans in your area.
While multiple insurers offer Medicare Advantage Plans, each plan offers standardized coverage, no matter which insurer provides access to the plan. The criteria for getting coverage for Medicare Advantage plans vary according to the insurance company’s rules. Plans can change each year.
With most Medicare Advantage Plans, you must use health care providers in the plan’s network. Medicare Advantage Plans limit the amount participants pay out-of-pocket for covered services each year. Some plans also offer coverage for non-emergency healthcare services out of network, but you may pay more for these services.
Drug Coverage In Medicare Advantage Plans
Most Medicare Advantage plan options include Medicare drug coverage (Part D). Private-Fee-for-Service plans and Medical Savings Account Plans do not include drug coverage. Still, you can join a separate Medicare drug plan to get this coverage.
If you chose a Preferred Provider Organization plan or Health Maintenance Organization that does not provide drug coverage, you are not allowed to join a separate Medicare drug plan.
Costs For Medicare Advantage Plans
Some Medicare Advantage Plans may be available at no cost, while others have a monthly premium. While plans are standardized, insurers decide how much to charge for each Medicare Advantage plan.
When you decide which Medicare Advantage Plan may work best for your situation, getting personalized quotes from multiple insurers is crucial.
How to Get a Medicare Advantage Plan
To get a Medicare Advantage plan, you must live in the plan’s service area and have Medicare Part A and B coverage. There are rules about when you may be able to switch, drop or join a Medicare Advantage Plan.
You can change to another Medicare Advantage Plan or return to Original Medicare within the first three months of your Medicare coverage if you enrolled in a Medicare Advantage Plan during your initial enrollment period.
You can join, drop or switch a Medicare Advantage Plan during the annual open enrollment period from October 15 to December 7.
If you are interested in joining a Medicare Advantage plan or you’d like to change or drop your Medicare Advantage plan coverage, contact Anthony Mercado Agency