Medicare Advantage plans, consider the coverage, limitations and financial benefits

 

The open enrollment season for Medicare is between the months of October 15 to December 7. This is the time the seniors keep wondering, whether they must enroll with Medicare Advantage plans or not. If you did not hear about Medicare Advantage till date, it is worth knowing about it. However, if you are enrolled in Part A and B Medicare, you are eligible for Medicare Advantage plans enrollment. However consider the facts before signing up for one.

 

Coverage of Medicare Advantage

Generally, Medicare Advantage plans 2018 generally provide similar benefits as the traditional Medicare, and include some benefits. It means Part A Medicare Hospital Insurance and Part B Medicare Insurance such that they are covered under the Medicare Advantage plans. Conversely, there are additional benefits also covered with these plans such as the dental, prescription drugs, wellness programs an vision. This is the reason that the seniors choice is with Medicare Advantage Plans.

 

Medicare vs. Medicare Advantage

Part A and B are covered by Medicare Advantage plans, but not all plans of Medicare Advantage are the same. The plan types vary as they are issued by Medicare approved private companies. There are plans offering extra benefits, but they do not come for free. In fact, the beneficiaries are expected to pay premium monthly apart from the premium of Part B. thus understand the benefits and the premiums to be paid before making changes or committing.

 

Financial benefits

Parts A and B of Medicare will not be covered entirely by the medical expenses. People with fixed income may find their savings are gulped by unexpected prescriptions and medical expenses. In fact, many seniors also choose Medicare Advantage Plans as it restricts the expenses out of pocket. However, the fact cannot be denied that there is nothing as free so you end up paying in one way or the other, it may be as monthly premium or as co-pays.

 

Coverage Limitations

Medicare Advantage plans issues must be considered before getting committed, so that you manage your health care properly. For instance, the Medicare Advantage plans with HMO are high for non-listed network providers and the problem is that your provider or current doctor may not be in the listed network.

 

The accessibility and timing of the treatment available also may be limited. Thus, it is best to check with the plan so that you know if there is pre-authorization is required. Research to know the coverage limits or else you may end spending for illness treatments.