Medicare advantage is a type of health plan in the United States that provide with the Part C coverage of your medicare. If you are already enrolled in Part A and Part B of the original Medicare, you can choose to enrol in part c – the medicare advantage plan. In the original medicare, the government pays off medicare benefits when you get them. Whereas, Medicare advantage plans are offered by privately-owned companies which are approved by Medicare.
But, why would you actually enrol in an extra plan which seems to be quite similar to the original one? Well, the name of the plan quite clears it up a bit. Along with providing and coordinating with Medicare Part A and Part B benefits, you can enjoy the extra advantage of added coverage for routine vision checks, dental services, dentures, and much more.
Along with providing the extra benefits, the Medicare advantage plans may even cost you less than the original plan. This simply means, if you visit a physician under the advantage plan you might have to pay a total of $5. However, if you visit a physician under the original plan you can have a coinsurance of 20%, which might be a bit more than $5. They also provide with a maximum out-of-pocket expense. Once you have reached the maximum limit, you no more need to pay for any medical expenses for the rest of the year. No such liability is provided with the original care, so your expenses are limitless.
Medicare Advantage plans serve as a one-stop medical plan for all your health needs. They are managed by contracted health care professionals, which are kinda better than the government employees.
However, they do try to prevent the misuse and overuse of their services. You need a pre-assigned authorisation for hospital stays and certain medical equipment. Medicare Advantage plans are region-specific, which is quite a setback. Also, you must have medicare part A and part B, and live in the plans service area, in order to be eligible for Medicare Advantage plans.
Medicare advantage plans have added tons of benefits over the years. Some plans even cover the transportation to doctor visits, adult day care services, over the counter drugs and more. They even provide the comfort of tailoring the benefits package according to the customer needs. The trade-off is that you have to follow the Medicare Advantage plans rules to receive payment for covered services. You just need to go through all the advantage plans and need to figure out which suits the best for you.
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