Medicare Advantage

Medicare Advantage Plans

When it comes to Medicare Advantage Plans, we tell new clients to pretty much forget everything they think they know about them. Why? Because there is a lot of misinformation out there and we like to set the record straight. Just like with any health insurance plan out there, there are pros and cons to everything. It is important for you to understand the in’s and out’s of a plan before you decide that it is or isn’t for you.

Medicare Advantage Plans are a type of Medicare health plan that is administered by a private company. These private insurance companies contract with Medicare to provide all of our Part A and Part B benefits, while offering you some perks along the way? So why would you want to use a Medicare Advantage Plan over just traditional Medicare Part A and B? Those perks can make the world of difference! Medicare Advantage plans are really your “one-stop shop” for all your health care and prescription drug coverage needs!

The idea behind Medicare “outsourcing” your health insurance plan is that private companies can offer you additional benefits that Medicare just simply can’t manage. They do this through their networks. With Medicare Advantage plans, you have either an HMO or a PPO network. This is how the private companies control their costs. They have pre-negotiated rates and services that health care providers agree to in advance. Thus, the advantage of Medicare Advantage plans is typically lower out of pocket expenses, they limit your out of pocket maximums, they can provide expanded benefits/services, prescription drug coverage, and more.

Some people find the downside of Medicare Advantage plans to be the networks. Because Medicare Advantage plans are managed care, they have contracted providers. That means that your doctor or hospital might not be “in network”. The other drawback is sometimes their coverage area. Most Medicare Advantage plans have regional networks versus national networks which can be limiting. With that said, in recent years, there are new plans coming to the market that do offer national networks so that might not be an issue moving forward.

The point here is simple, when you sit down with an advisor from The Premier Agency, you are going to have an advocate in your corner. Our advisors work to find you the best plan to fit your needs, not the needs of an insurance carrier. We will walk through your current medical needs, prescription drugs, doctors, hospitals, and other important issues that might influence what plan we recommend. Do yourself a favor, contact our office today and schedule an appointment for a free insurance review.

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