Overview of Medicare Advantage Plans

When shopping for Medicare Advantage Plans, the options are as varied as they are confusing. Beyond your basic Medicare needs, there are many optional plans available depending on your situation and budget. Some plans require more out of pocket expenses resulting in lower monthly premiums whereas other plans are more expensive but allow for more controlled costs for services.

With all of the different coverage options, premiums, and expenses, there is no “one plan fits all” that we recommend for everyone.

But the advantage of having so many Medicare Advantage Plan options is that we’re able to find a plan that suits every need and budget. These plans are approved by Medicare and are offered by private insurance companies.

When purchasing a Medicare Advantage Plan, the plan will provide Medicare Parts A (hospital insurance) and B (medical insurance) and most include Part D (prescription drug coverage).  In addition, within the different plans that are offered, you can find coverage for dental care, vision care, hearing care, or other health services like gym memberships or transportation costs.

Additionally, Medicare Advantage Plans come in a variety of structures that allow for maximum flexibility.

For example, some may be interested in a Special Needs Plan (SNP) which covers the costs of office visits, medical procedures, and medications.  Others might be interested in a structure that supports a Preferred Provider Organization (PPO) or a Private Fee For Service (PFFS) to give the greatest amount of provider choice.

Our clients have a wide variety of Medicare needs and we’re confident that we can help find the best plan for you.

You qualify for Medicare Advantage Plans if you’re over 65 and have enrolled in Medicare Parts A and B. Your enrollment eligibility window is 3 months before your 65th birthday up to 3 months after your 65th birthday. Some things to consider when deciding what type of plan is best for you include:

  • How much can you afford to pay annually for out-of pocket expenses?
  • Do you have any chronic illnesses that would require you to have regular doctor visits?
  • Do you already have a health care provider that you prefer to continue seeing?

Not all Medicare Advantage Plans are created equal. And trying to determine the differences of each can be a complicated and time consuming process. Call us today and we’ll review all of the options available to find a plan that meets your needs and fits your budget.