Making a decision for health insurance is no easy feat. Especially with all the different Medicare plans available, finding the right one for you can be pretty difficult!
However, in this article, we’re going to be taking a closer look at the Medicare Advantage Plan, which is also known as Medicare Part C. By weighing the pros and cons of the plan, we hope that it’s possible for you to make the best-informed decision to find the right plan that works for you and your financial needs.
It’s also important that your health insurance plan covers you when it comes to medical costs—so, we’ll go over those too!
A Closer Look at Medicare Advantage
In order to give you the option of receiving your Medicare benefits in an alternative way, this plan is generally offered by private insurance companies. Therefore, you’ll have access to this plan if you’re in contact with a company that can customize the plan for you and your needs.
Although all Medicare plans have important key features that may match your personal preferences or medical needs, you ultimately need to make the decision based on your own individual needs—therefore, finding the right plan for you may take some trial and error.
Before you make a decision, let’s take a closer look at Medicare Advantage:
The Pros:
Advantage Plans give you more benefits than other traditional Medicare Plans.
With an Advantage Plan, you’ll get all the coverage you would with a Part A or Part B Original Plan and then some.
Although they are different based on the type of plan you choose from, you can expect the plan to often include vision care, hearing aids, routine dental care, prescription drug coverage or even a fitness center membership to help keep you healthy. This focus on preventative healthcare can also help save you money in the long run.
Advantage Plans can help you avoid all the running around.
As a true one-stop-shop for all your prescription and health cover needs, these plans generally combine both services and prescription drug coverage, which can eliminate any extra work on your part.
You can definitely benefit from the convenience of working with one plan administrator rather than going from department to department, trying to find the right coverage for that specific cost.
Advantage Plans cost you less—for a lifetime.
Imagine the savings every month—every year—and then for your entire lifetime! Even if you’re saving just a few dollars every time you pay, those extra dollars can add up over the years!
Although you’re paying the original cost of the Medicare plan, with an additional premium, however, if you’re approved, you can even have a plan from which you pay a premiums as low as $0!
The lower costs also include lower cost-sharing, a limit of your out-of-pocket expenses, and receive an overall lower price tag on comparable coverage—since you’ll be covered with both service and prescription drug costs.
Advantage Plans also offer coordinated care.
This takes the convenience factor all the way to the top with an Advantage Plan. Imagine not having to run around and get approval from all the different care service providers!
With a Medicare Advantage plan, your health care providers—within your network—manage your care and communicate with one another to help provide you with the most cost-effective care that is locally-convenient for you. This type of plan offers you a selection of Primary Care Physicians to choose from to help you coordinate your care and your care plan with your health service providers.
You can also benefit from medication therapy management, which is care coordination that can be a valuable aid to your health and a convenient addition to your life.
Cons of a Medicare Advantage Plan
With every pro, there’s going to be a con to counter it. Although we don’t like to shed light on the negative, we think it’s important that you’re able to fully grasp both the negative and the positive of a Medicare Advantage Plan, so you can get a wide outlook on your decision.
Making sure you inform yourself about the disadvantages can help you apply them to your situation and make the best choice for you and your financial and health situation.
Here are some of the cons:
The Advantage Plan doesn’t give you full freedom of choice when it comes to picking your health care providers. The Advantage Plan has an effective network but a limited one. If you have to go out-of-network for a service, your insurance plan might not cover the costs—and the price you pay may not apply to your out-of-pocket yearly maximum.
The Advantage Plan may require you to get doctor’s referral and plan authorizations for specific procedures and services. This makes it a bit complicated for hospital stays, medical equipment, procedures, and home care—however, these stipulations are in place to prevent misuse of health care.
The Advantage Plan may be locationally limited. These plans work with regional networks instead of nationwide. Although this doesn’t provide a problem for those living in the same area for six months out of the year, it can be complicated if you like to move around a bit throughout the year.
Making the Switch:
We hope that this article has provided you with sufficient information regarding the advantageous benefits of the Medicare Advantage Plan as well as some of the possible “cons”. Although they might not apply to you and your situation, it’s important that you are aware of them, so you’re able to make a well-informed decision. This can help you choose the best plan for your situation.
If you’re in need of any more assistance in choosing the Medicare program that works for you, please get in touch with Every Way Health at 877-460-3943 or the customer service team of your local insurance provider, who can help provide you with more helpful insight.