Comparing medicaid advantage plans

There can be many advantages to Medicare Advantage, also called Medicare Part C. Maybe you prefer the convenience of having all of your health and medicinal benefits under one plan, rather than enrolling in a standalone Medicare Prescription Drug Plan for your Medicare Part D coverage. Or you might be seeking additional benefits that Original Medicare does not cover, such as regular vision and dental care.

Here’s a summary of Medicare Advantage plans, including how they work and what to consider when comparing plan choices.

Medicare Advantage plans are an alternative to Original Medicare, Part A and Part B. Rather than having Medicare benefits administered through the government-run program, beneficiaries can choose to obtain their coverage through a Medicare Advantage plan, available through private insurance companies that contract with Medicare.

To qualify for Medicare Part C, you need to:

Live in the service area of the Medicare Advantage plan you are contemplating.

Not have end-stage renal disease (with a few exceptions). However, some plans may also cover extra benefits, such as prescription drugs, hearing, regular vision and dental, or health wellness programs.

Unlike Original Medicare, if you would like prescription drug benefits (Medicare Part D), you should not enroll in another Medicare Prescription Drug Plan. Instead, you can receive this benefit through a Medicare Advantage Prescription Drug plan. Not every Medicare Advantage plan includes prescription drug coverage, so constantly double-check with the particular plan you’re contemplating.

The best way to Evaluate Medicare Advantage plans

Since Medicare Advantage plans are available through Medicare-approved private insurance companies, the costs and benefits may vary by plan, rather than every plan will be available in each location. When comparing Medicare Advantage plan options, there are many factors to take into account:

Does the monthly premium represent a great value? Some Medicare Advantage plans might have premiums as low as $0, but bear in mind that you will still have to keep paying your Medicare Part B premium, together with any copayments, coinsurance, or deductibles your plan requires.

Is the yearly deductible amount something you’re comfortable with?

What are the first coverage and out-of-pocket limitations? Unlike Original Medicare, each Medicare Advantage plan has a yearly maximum spending limit; after you reach this limit (which includes the deductible), the Medicare Advantage plan covers 100 percent of covered medical costs for the remainder of the year.

Does the plan include additional benefits, such as regular dental or vision, hearing, or health wellness programs? (Please be aware that the formulary is subject to change; you will be informed by your Medicare plan if needed.) If so, are your existing physicians and health-care suppliers included? (Please note that supplier and pharmacy networks may change at any time; you will be informed by your Medicare plan if necessary) Star ratings are just one way to judge a Medicare Advantage plan’s performance. Each plan is given a rating between 1 to 5 stars, with 5 stars being the maximum quality score. *

Medicare assesses plans based on a 5-Star evaluation system. Star ratings are calculated annually and might change from 1 year to another.

Every man is different, so you will want to thoroughly research Medicare Advantage plan options in light of your particular health needs and budget. Bear in mind that plan costs, benefits, service areas, and supplier networks may all vary from year to year, so it is a fantastic idea to review your policy each year and be sure it’s still a fantastic match for your situation. Taking the time to shop around and compare Medicare Advantage plan options locally could help save you money on out-of-pocket expenses.

If you are ready to begin browsing plan alternatives, eHealth’s Medicare plan comparison tool might be helpful. You may find Medicare plan choices based on location, insurance company, premium price, and much more. Our plan finder application is a handy way for you to compare plan details side-by-side to make certain that the most important facets of your health-care requirements are covered.

If you would like to get help on the phone, you can also give us a call to speak with a licensed insurance broker. Contact eHealth today to become customized help with your Medicare coverage requirements.