What
is a Medicare Advantage Plan?
Medicare Advantage plans are the newest option for Medicare recipients.
Prescription drug coverage is often included in the Advantage plan. These plans are available in 98% of counties in the USA.
The Advantage plans include the Preferred
Provider Organizations (PPO),
the Private Fee-for-Service (PFFS), and the Health Maintenance Organizations
(HMO) plans. Medicare recipients may choose among the Medicare advantage
plans in their area. Private insurers manage the program.
How is eligibility determined?
Having Medicare Part A and Part B are required. End stage renal disease
is the one disqualification. Otherwise, there are no medical questions.
Are Medicare Part B premiums required to be paid ($96.40 in 2010)?
Yes. Regardless of which Medicare Advantage Plan the Medicare
recipient chooses, one will continue paying the Part B monthly charge.
Is the Federal government and Medicare still in charge?
Yes. The Federal government is the ultimate arbiter for all Medicare
decisions. The Advantage plan member will have rights and protections
that are protected by the Federal government.
Is the Advantage Plan complicated and difficult to understand?
No. The Medicare Advantage plan is simple with no hidden costs. Your
out of pocket expenses will be the monthly premium as well as the
co-payments and coinsurance amounts that are defined on the sales
material and the Medicare Advantage plan contract
Why is the Medicare Advantage plan beneficial?
• Advantage Plans usually have lower co payments, lesser out of pocket
expenses as well as extra benefits as opposed to the original Medicare
plan.
• Little or no monthly premiums are available in certain parts of
the USA.
• Part D prescription drug coverage is often included.
• A Medicare supplement is not needed, saving thousands of dollars
per person.
Are there options available?
Yes. The various Advantage Plans all meet the government's strict
regulations, but different plans will differ in consumer costs and
coverage. Many options are available and it is worthwhile to analyze
the available Medicare Advantage plans to choose the best plan for
you.
Are there any enrollment restrictions?
There is a an enrollment beginning November 15, 2010 and ending March
31, 2011. Those who are not enrolled with a Medicare chart by March 31 will not be able to enroll in an Advantage plan till January
of the following year.
Are Medicare Advantage plans required?
The Advantage plans are not required but the superior benefits being
offered is certainly very hard to refuse.
What is the Prescription Drug Plan (Part D)?
The Part D prescription drug coverage can be included in the Medicare
Advantage plan or can be purchased separately in conjunction with
a supplement Medicare or the original Medicare. The prescription
plan is insurance. Private insurers offer the coverage. You choose
particular Part D plan and pay the premium. Medicare and the federal
government is subsidizing the Part D premium.
