Medicare Advantage Plans

When looking for a profitable health insurance plan can be a daunting experience for some senior citizens. There are so many plans and choices for all seniors. One popular plan is a Medicare Advantage Plan which was first seen in 1997. These plans known as MA Plans and Part C are health care programs from Medicare. If you are 65 years of age or older it would be wise to look at this program to see if it is of benefit for you and to see how it compares to medigap plans.

Having Medicare you will have to decide if you want Original Medicare or Medicare Advantage Plans. If you wish to counterbalance the costs of prescription drugs, a Medicare Advantage Plan may appeal to you. If you have Medicare Part A and Medicare Part B you have the choice of acquiring Medicare Part D which will cover your prescriptions you may take regularly. Medicare Advantage Plans will cover your prescription drug costs which will cost more in the premiums. You cannot have a Medicare Advantage Plan and Original Medicare Part A and Part B and a Medicare supplement plan. You will need to choose between them. Medicare supplement plans can only be added to Medicare Part A and Part B which will cover the amount leftover after Medicare pays its schedule amount they allow.

So what is the difference you may ask?  A Medicare Advantage plan is not like Original Medicare. It is not a supplemental plan. Instead, it is insurance procured from independent insurance agencies that work with Medicare to cover all your medical expenses. You will still be enrolled in Medicare with a Medicare Advantage Plan. This will benefit you because you will not have to pay for a supplement plan in addition to Medicare. Some Medicare Advantage Plans are free to those who are 65 or older and have Medicare Part B which makes it more affordable for them.

Some people may not be able to take on additional medical costs they will have as they get older. Also they may not be able to have enough money for a Medicare supplement plan, so a Medicare Advantage Plan may be more beneficial for one’s budget. Many of these plans will have lower premiums, as long as, the recipient will agree to the set doctors in the network and agree to pay the copayments that may be required.