is Medicare Advantage right for you?

Is Medicare Advantage Right For You?

It’s not hard to see why many Medicare beneficiaries choose Medicare Advantage plans as this part of Medicare covers items that Original Medicare doesn’t cover, and most beneficiaries don’t pay extra for them.

However, Medicare Advantage plans aren’t for everyone. Some beneficiaries benefit more from Original Medicare and Medigap than they do with a Medicare Advantage plan. But that’s why it’s important to review each part of Medicare and make your final decision based on the coverage you need and at what cost you’re willing to pay. 

Nonetheless, here’s why a Medicare Advantage plan may be something for you to consider.

Why Sign Up for Medicare Advantage?

There are a lot of reasons why you should consider Medicare Advantage. For starters, unlike Original Medicare, Medicare Part C covers vision, hearing, and dental care. Most Medicare Part C plans also offer prescription drug coverage, while Medicare beneficiaries that enroll in Original Medicare will have to sign up for Medicare Part D if they want prescription coverage.

Original Medicare will also usually have you cover 20 percent, and it does not have a maximum out-of-pocket spending limit. Your Medicare Advantage plan, on the other hand, may have a $0 premium, may charge you a certain copay per service or doctor’s visit, and features out-of-pocket spending caps.

Once you reach the limit, your Medicare Part C plan will cover all further costs.

Why a Medicare Advantage Plan May Not Be Right for You

While Medicare Advantage plans are sounding pretty good right now, as mentioned before, they are not for everyone. You may need to take a closer look at the Medicare Advantage plan you are considering, then compare it with Original Medicare while keeping your healthcare needs in mind.

While Original Medicare allows you to see all healthcare providers who accept Medicare, some Medicare Advantage plans only cover services within their network of providers. Medicare Advantage plans may also require you to follow certain rules regarding getting healthcare, such as requiring a referral to see a specialist from your Primary Care Physician (PCP).

Sometimes, your current Medicare Advantage plan that you like may not be around the following year. The carrier providing the plans have contracts with Medicare that do not always guarantee renewal. Even when renewed, some terms of the Medicare Advantage plan may have changed, such as prescription drug coverage.

If changes have been made, you will need to review your coverage and possibly make changes during the Annual Enrollment Period.

Need Help Choosing Coverage?

When it comes to selecting a Medicare plan, there is no one-size-fits-all solution. So, it is vital you look into all your options and see which Medicare plan makes the most sense for you. To learn more about Medicare Advantage and which plan is the right plan for your needs, contact us today.