.png)
Medicare Advantage Plans
.png)
Medicare Advantage Plans
Medicare Advantage plans (also known as Medicare Part C) are an alternative to Original Medicare (Medicare Part A and Part B) that are offered by private insurance companies. These plans provide the same benefits as Original Medicare and often include additional benefits, such as Dental, Vision , and Hearing coverage. They may also have lower out-of-pocket costs, such as copays and deductibles. These plans can also include Prescription Drug Coverage that will help cover out-of-pocket costs for your medications. These plans are known as MAPD Plans.
However, these plans typically have networks of providers, so it is important to check that your doctors and hospitals are included in the network before enrolling. Additionally, you may have to pay a premium for a Medicare Advantage plan in addition to your regular Medicare Part B premium.
Medicare Advantage Additional Benefits
*BENEFITS VARY FROM PLAN-TO-PLAN*
CONS OF MA/MAPD
Prior authorization is a process in which a healthcare provider must obtain approval from the insurance company before providing a specific service or prescribing a certain medication. This is done to ensure that the service or medication is medically necessary and that the cost is reasonable. Prior authorization requirements vary by plan.
There are several types of Medicare Advantage networks, including HMO, PPO, PFFS, SNP, and MSA networks. These plans limit where you can go to get service and the amount of money the plan will cover if you use an outside provider. It is best to check network availability to ensure your physicians are in the network provided by your plan/carrier.
.png)
MA/MAPD plans have Max Out-of-Pocket cost that change from year to year, meaning your plan might not cover you as well the following year. The rules of Medicare Advantage plans are constantly changing depending on what laws are passed throughout the years. this could cause an unwanted effect on your plan.