Pros And Cons Of Medicare Advantage Plans

A Medicare Advantage Plan or (Medicare Part C) is an auxiliary plan created for recipients of Original Medicare. They serve to deliver Medicare coverage benefits in an enhanced way. Medicare Advantage Plans are issued by private insurance organizations that are approved by Medicare.

Pros of Medicare Advantage plans

They offer greater value: Medicare Advantage Plans are an improvement of Original Medicare as they provide many perks while providing identical coverage with Medicare Part A and Part B. Additional coverage may include vision care, dental care, prescription drug coverage, and fitness facility memberships. You can even get some policies that link you to a network of fitness trainers on your smart device to attain your health goals.

They cost less: Studies have shown that Medicare Advantage recipients for 2020 can save valuable dollars on lab service costs and Medicare equipment when you have a Medicare Advantage Plan. In addition, some Advantage Plans charge nothing for certain premiums and deductibles. Also, with Advantage plans, you have a yearly maximum out of pocket limit. Once you have paid that amount, you don’t pay anything for medical services rendered for the remainder of the year. Original Medicare does not provide this and makes your potential expenses unlimited.

They offer more flexibility: With built-to-order plans, Medicare Advantage provides insurance coverage fittingly designed to cater to your particular medical situation. It enables provider freedom as it gives specialized and enhanced benefits for recipients which acute health issues.

Cons of Medicare Advantage plans

It may limit your healthcare provider option: While some Medicare Advantage Plans allow you to receive services outside of their network at a higher cost, other Medicare Advantage plans have limited provider networks. Hence, if you go out of network, your plan may not handle your medical costs.

Medicare Advantage plans may need doctor referrals: For the Medicare Advantage Plans that typically require you to stay in-network to receive services, such as HMO Plans, they also require you to choose a primary care physician and obtain referrals to see specialists.

They are regionalized: Most Medicare Advantage plans have regional networks involving participatory providers. To sign up, you must be a resident in a Medicare Advantage Plan’s service area. If you divide your time between homes in various locations, this requirement may be difficult to meet.

By and large, Medicare Advantage Plans can offer extensive coverage to those who need it. The only roadblock to it is that you must stick to the Medicare Advantage recommendations to reap its coverage benefits.

Still unsure about which Medicare option is appropriate for you? Then it’s time to call Advanced Insurance Concepts. We will help you find a Medicare Advantage Plan in your area designed for your specific health needs. Reach out today by calling 816-476-8191.