Medicare Advantage Plans, a brief overview of its working and types

Medicare Advantage Program is referred to as Part C Medicare. This program offers a way that you can enjoy the benefits of Part A and B Medicare through approved private companies offering Medicare insurance and does not have any direct selling through the government. In case you are thinking of Medicare Advantage plans, here is the required information.

How does it work?

Medicare Advantage plans deliver identical coverage as Part A and B traditional Medicare, except hospice care that is Part A covered.  Generally, the plans of Medicare Advantage include routine dental services and prescription drug coverage, as extra benefits.

Medicare Advantage plans are in contract with the government program Medicare such that it pays each plan every month some fixed amount. The insurance company pays the cost to a specific portion as per Medicare rules and it also harmonizes your care. The costs are connected to Florida Blue Medicare Advantage plans. There are Medicare services that need coinsurance or copayments, while the plans may feature premiums and deductibles. Some plans features low premiums per month as $0 also, so it is up t you to look at the costs of other plan as well. No matter where you get enrolled with Medicare Advantage plans, you need to pay the Part B premium for Medicare monthly.

Based on the plan type you select, there may be rules. For instance, plans may limit you to consult only the list of doctors as per the plans network or may expect you to acquire a referral from their network list of specialists. Each Medicare Advantage plan features an amount as the out-of –pocket to the maximum that you can spend each year on health costs. After spending that amount, the costs of Medicare covered services will be paid by the Medicare Advantage plan. However, each plan of Medicare Advantage comes with a different limit and with each year the amount is anticipated to change.

Medicare Advantage plan types

There are many forms of Medicare Advantage plans, though the fact is that not all the plan types may be available where you live. However, the available plan types include:

  • Health- Maintenance –Organization is abbreviated as HMO
  • Private- Fee -for –service is abbreviated as PFFS
  • Preferred- Provider- Organization is abbreviated as PPO
  • Special Need plans is abbreviated as SNPs
  • Medical- savings- account is abbreviated as MSA
  • HMO Point of service is abbreviated as HMO-Pos

Things to consider

If you want to have in one plan all Medicare coverage, ensure to buy such a plan. Not all the Medicare Advantage Plans provide all the coverage.