Key Features of Medicare Advantage

 

1. All-In-One Coverage

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• Combines Part A (hospital insurance) and Part B (medical insurance).

• Often includes additional benefits like prescription drug coverage (Part D), dental, vision, and hearing.

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2. Cost Structure

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• Typically have lower out-of-pocket costs compared to Original Medicare.

• May require you to use a network of doctors and hospitals.

• Usually a significantly lower monthly premium than Medicare with a supplement and prescription plan

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3. Additional Benefits

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• Many plans offer extra services like fitness programs, over-the-counter drug allowances, and wellness programs.

 

How Medicare Advantage Works

 

Enrollment: You must first be enrolled in Original Medicare (Parts A and B) before you can switch to a Medicare Advantage plan.

 

Plan Types:

Health Maintenance Organization (HMO): Requires you to use doctors and hospitals within the plan’s network.

 

Preferred Provider Organization (PPO): Offers more flexibility in choosing healthcare providers.

Special Needs Plans (SNPs): Tailored for individuals with specific diseases or characteristics.

 

Costs:

• You continue to pay your Part B premium, some plans may rebate a portion of your Part B premium or charge an additional premium.

• There may be plan available at a $0 monthly premium

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