What Are The Pros And Cons Of Medicare Advantage Plans?
While some people choose to use Original Medicare coverage, others switch to using a Medicare Advantage plan instead. How do these plans work? What are their advantages and disadvantages?
What Is Medicare Advantage?
Medicare Advantage plans work in the same way as Original Medicare; however, they are managed by private companies. These plans give you standard Parts A and B benefits. They also often include other benefits that don't come in standard plans.
So, for example, a plan might give you Part D drugs coverage. You might also get access to dental, vision, and hearing benefits.
While Medicare Advantage works just like Original, your healthcare and treatment choices might be different. If you have an Original plan, then you can use any doctor or healthcare facility that takes Medicare patients. Medicare Advantage plans work to a network model. Any doctor or healthcare service you use generally has to be a member of your plan.
What Are the Advantages and Disadvantages of Medicare Advantage Plans?
The companies that provide Advantage plans have to meet and maintain Medicare standards and rules. So, a plan's quality and provision of care should be the same as you would get with Medicare Original.
Medicare Advantage plans are appealing because they include extra coverage or features. Plus, you might find it easier to have all your healthcare coverage in one plan rather than having to take out supplementary coverage.
You can also customize these plans more easily to manage long-term health needs or conditions. So, you can use Special Needs Plans to create customized coverage for a serious or long-term illness.
In some cases, Medicare Advantage also reduces your plan costs. These plans often have lower deductibles. Plus, they have to set an annual limit on how much you spend on out-of-pocket Part A and Part B costs. Once you reach this limit, you won't pay any more out-of-pocket costs for the rest of the year.
However, you should consider whether you are happy working inside a healthcare network before you take out an Advantage plan. While some plans will let you see out-of-network doctors and medical service providers, you might need to pay extra to go outside of the plan's network.
The coverage you get from a plan can also vary depending on your location. So, you should compare your options with Original Medicare benefits before you decide to make the switch.
To learn more, contact Medicare health insurance providers.
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