Medicare Advantage Plans are health plans that are offered by private companies that contract with Medicare. These companies will provide all of your Part A and Part B benefits. It is important to understand that a Medicare Advantage Plan essentially replaces your Original Medicare. Additionally, if you’re employed or have insurance coverage through a union, joining a Medicare Advantage Plan may cause you to lose your benefits through the employer or union.
Like many Medicare programs, there are benefits and disadvantages that you must weigh prior to choosing your plan.
Pros of a Medicare Advantage Plan (MAP):
- MAPs offer at least the same level of coverage as Medicare Part A and Part B plus added benefits.
- MAPs Cost Less – some plans have a premium of $0. Talk to an agent about how this is possible.
- MAPs may have lower shared costs for copayments and coinsurance.
- MAPs offer Coordinated Care. This coordinated care may be a convenience to you and getting treatment for your health.
Cons of Medicare Advantage Plans (MAP):
- Limited choice of health providers. MAPs work with provider networks so you must select a doctor in that network.
- Prior Authorization Requirements: MAPs often requires prior authorization for hospital stays, home health care, medical equipment and other items. You also need prior doctor approval to see specialists.
- Regional Restrictions: If you live in two places throughout the year, you may have difficulty having a MAP. You must reside within a MAPs services area 6 months out of the year.
So, is a Medicare Advantage Plan The Right Plan For You?
Only you can decide if a Medicare Advantage Plan is right for you. Be sure to weigh the cons before selecting this plan. A licensed agent in our office can help you navigate your choices, but ultimately, only you can choose what’s right for your situation and budget.
Does It Cost More To Go Through An Agent for A Medicare Advantage Plan?
No, it does not cost you anything to come through our agency to help you with your Medicare and you will not pay more for the plan.
How Do I Choose a Medicare Advantage Plan Company?
Your agent will go over each plan and help you find an insurance company that fits your needs and budget. We will then help you with signing up for that plan and paying for it.
To setup an appointment with an agent in our office, please click the link above or fill out the quick contact form to the right. You may also call us anytime during business hours. We’re excited to help you find a plan and look forward to hearing from you.