Medicare Advantage Plans are quickly becoming popular with Medicare beneficiaries. Some plans may include additional benefits over what Original Medicare offers.
These plans are offered throughout the United States through private insurers. Part A and Part B of Medicare are required to join the plan, and Medicare’s Part B premium must be paid by the Medicare recipient in order to enroll. Private insurers offer policies that have varying co-payments and premiums that may start as low as $0.00 per month.
In some states, Private Fee-for-Service Medicare Advantage Plans are available, which allow members to see any doctor or use any facility that is willing to accept the plan’s payment terms and conditions.
Medicare Advantage in a nutshell:
- Medicare Advantage plans may be available for low to no monthly plan premiums.
- Medicare Advantage plan holders are still on Medicare and retain the rights and protections of Medicare.
- A Medicare Advantage member still has access to all Medicare covered services. In addition, a Medicare Advantage member may be offered additional services not covered by Original Medicare or traditional Medicare Supplement plans.
- Prescription drug coverage is offered in many Medicare Advantage plans. People with Medicare supplement Insurance must purchase stand-alone Prescription Drug Plans.
- A PFFS or PPO Medicare Advantage plan permits the policy holder to go to any doctor or hospital with no referrals!