Medicare Plus – Advantages Of Medicare Advantage Plans
When it comes to insurance products on Medicare, there are several options on the market, including Medicare Advantage plans. These plans are offered to individuals who are 65 years old and over, and to qualified individuals with disability. They are alternatives to get coverage for Medicare Part A (hospitalization) and Medicare Part B (medical services).
Also known as MA Plans, Medicare Part C or simply Part C, these plans are provided by private insurance companies that are Medicare-approved, which means they have to abide by the rules, guidelines and policies set by Medicare, a health insurance program run by the federal government of the U.S. and meant to subsidize services for healthcare for people aged 65 and up, younger individuals who are able to meet certain criteria for eligibility, as well as people with certain illnesses.
Medicare Advantage Plans – What Is Medicare Plus?
Among the MA plan options is the Medicare Plus which fit together with Medicare. This plan acts an add-on for the part of healthcare services covered that aren’t paid by Medicare. More often than not with Medicare Plus, you are given more liberty to decide which doctor or facility accepting Medicare to go to since the plan isn’t tied to a certain network of healthcare providers and facilities.
Frequently, Medicare Plus pays for deductibles as well as coinsurance of your Medicare Part A and Part B. This type of “bundled” plan is better than separate Medicare supplements since it offers protection from charges that go over the reasonable and usual amounts if an insurance provider not connected with Medicare is used by members. In addition, the plan provides coverage throughout overseas travel as well. However, bear in mind that in circumstances wherein coverage for a certain service is excluded by Medicare, coverage is also denied by Medicare Plus.
Benefits of a Medicare Advantage Plan
Medicare Advantage plans are provided by private Medicare-approved health insurance companies. When enrolling in the plan, you directly pay the premium to the private insurance provider. They will in turn work together with Medicare so as to make certain your coverage for healthcare is handled. Although the benefits would differ from one plan to another, MA Plans presents several major benefits.
- COMPREHENSIVE COVERAGE. Medicare Advantage plans would provide coverage for all the benefits of Parts A and B, along with other coverage which may include Medicare Part D (prescription drug coverage), vision, hearing as well as dental benefits. Fitness and wellness programs may also be covered.
- CONVENIENCE. Choosing an MA plan is like a “one-stop-shop” as you have the freedom to decide on which benefits you want covered by the private health insurance provider. This then grants you the convenience of having a single plan with all the medical as well as prescription medicine coverage that you want and need.
- OUT-OF-POCKET MAXIMUM. Every plan offers an out-of-pocket maximum. This is how much you will need to spend (out of your own pocket) on health expenses. Once you have reached the limit, your medical expenses will then be fully covered. Individuals who are aware of the high amount of medical cost that they need to shoulder can gain from this benefit.
- URGENT/EMERGENCY CARE COVERAGE. MA Plans have to provide coverage for urgent or emergency care outside the area where the plan offers its services. This would mean that you are covered nationwide.