Medicare Advantage Plans
Medicare Advantage Plans
Medicare Advantage Plans are a type of Medicare plan that is offered by a private company. This private company contracts with Medicare, and they provide Part A and Part B benefits. When you enroll in a Medicare Advantage plan, most Medicare services are still covered by the plan.
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What Are The Types Of Medicare Advantage Plans?
There are several different types of Medicare Advantage Plans including:
When you join a Medicare Advantage Plan, you use the health insurance card that you get from the plan for your health care. In most of these plans, there generally are extra benefits and lower co-payments than in the Original Medicare Plan.
Most Medicare Advantage Plans are managed care plans, usually a health maintenance organization (HMO) or a preferred provider organization (PPO) and you may have to see doctors that belong to the plan or go to certain hospitals to get services.
When can I enroll?
Keep in mind that Medicare limits when you can join, switch, or drop a Medicare Advantage Plan. You can join a plan when you first become eligible for Medicare. This is anytime beginning three months before the month you turn 65 and ends three months after the month you turned 65.
- For example, if you turn 65 on May 5, your eligibility period starts on February 1 and ends on August 31
- If you are disabled and have Social Security Disability Insurance, you can join an advantage plan three months before to three months after month 25 of your disability
- You can switch or drop your Medicare Advantage during an enrollment period between October 15 and December 7 of each year
What You Need to Know
The main thing to know is that for most people, out-of-pocket costs will likely be lower with a Medicare Advantage Plan.
With an Advantage plan, you still get Part A and Part B coverage, and some Advantage plans offer additional benefits that Part A and B don’t cover —things like dental, hearing and vision.
When choosing a plan, you can see if the service or services you are interested in are covered BEFORE enrolling in the plan. If you need help doing this, we are Marquette, MI
Medicare Advantage agents and are always happy to provide our input after you tell us what you are looking for.
Folks with pre-existing conditions don’t have to worry. You can still join a Medicare Advantage plan if you have a pre-existing condition. An exception to this rule is if you have End-State Renal Disease.
A Quick Recap
✔ You must be enrolled in Medicare Part A and Part B in order to enroll in a Medicare Advantage Plan
✔ You must live in the Medicare Advantage plan's service area
✔ You must pay the Part B premium which is $164.90 in 2023
✔ Your Part B premium might be higher, depending on your income
Frequently Asked
Questions
Still have questions? Feel free to contact us for more information.