Medicare Advantage Plan: Everything You Need to Know

Jul 15, 2022 | Medicare Advantage

If you’re new to Medicare, you might be confused by the difference between Medicare Advantage and Original Medicare. This blog post will discuss what Medicare Advantage Plan is, what it covers, its rules, and how you can enroll.

What is Medicare Advantage?

Medicare Advantage (Medicare Part C) is a Medicare program that provides health insurance coverage to people with Medicare. It is an alternative to the Original Medicare program. Private insurance companies offer Medicare Advantage plans and must follow the rules set by Medicare.

What does it cover?

Medicare Advantage plans are required to provide Medicare Part A and Part B coverage. This means that Medicare Advantage plans must cover:

✅ Hospital stays

✅ Doctor visits

✅ Prescription drugs

✅ Other services covered by Medicare Part A and Part B

Some plans may also offer extra benefits that Original Medicare does not cover, such as:

✅ Dental care

✅ Vision care

✅ Wellness programs.

What are the rules?

Original Medicare and Medicare Advantage plans have different rules, such as rules on costs and coverage. Medicare Advantage plans may also require using specific doctors, hospitals, and other health care providers. You will likely pay a monthly premium for your Medicare Advantage plan, in addition to the Part B premium that you pay for Original Medicare.

How do I enroll in Medicare Advantage?

You can enroll in a Medicare Advantage plan during the Medicare Annual Enrollment Period, from October 15 to December.

You can also enroll in a plan if you qualify for a Special Election Period. For example, you may be eligible for a Special Election Period if you move, lose your health insurance coverage, or get Medicare Part A or Part B.

How to reduce my Medicare out-of-pocket costs?

One way to reduce your out-of-pocket costs with Medicare Advantage is to shop around for the best plan for you. Many different Medicare Advantage plans are available, with various benefits and costs. You can use the Medicare Plan Finder tool on Medicare.gov to compare plans and find one that meets your needs and budget.

Another way to save money on Medicare Advantage is to take advantage of any free preventive services offered by your plan. These services can help you avoid costly health problems down the road, so it’s worth taking advantage of them if they’re available to you.

Finally, remember that you can always switch Medicare Advantage plans if you find that your current plan isn’t working well for you. You can do this during the annual enrollment period or if you have a life-changing event, such as moving to a new area. So if you’re not happy with your current plan, don’t be afraid to look for a better option.

There are many ways to save money on Medicare Advantage, so take some time to explore your options and find the best plan. With some research, you can find a plan that meets your needs and helps you keep more money in your pocket. And remember, if you’re ever unhappy with your current plan, you can always switch to a new one.

If you’re interested in enrolling in a Medicare Advantage plan, compare different plans and find one that best meets your needs. Medicare Advantage plans are a great way to get additional benefits not offered by Original Medicare. You can also speak to a licensed insurance agent to learn more about Medicare Advantage and other Medicare.

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