With the pandemic showing no signs of slowing down, uncertainty with regard to health issues is constantly on people's minds. In such a situation, it's better to be on the safe side and opt for as much coverage of healthcare costs as is affordable. Having Original Medicare plan is great but having Medicare Advantage is even better. Read on to find out why.
What is Medicare Advantage?
Medicare Advantage is the additional plan to Original Medicare that provides coverage for healthcare costs to the elderly in the United States of America. This is provided by private insurance firms so that the elderly can meet their healthcare costs. But if you are opting to buy Medicare Advantage then it is mandatory for you to have Original Medicare which covers expenses for Medicare Part A except the hospital coinsurance and Part B. You must be 65 years of age if you wish to enroll into a Medicare Advantage. Read on for a comprehensive list of Medicare Advantage plans and the companies that offer them.
Types of Medicare Advantage Plans for 2021
Medicare Advantage Plans can be divided into three categories which are:
- Basic Medicare Advantage – This plan must be in addition to any Medicare Advantage Plan for extra coverage. Except for hospice care, this plan covers expenses of everything under Medicare Part A. It also covers all expenses under Medicare Part B including emergency medical services such as ambulance services, surgery and medical tests.
- Medicare Advantage Part D – This plan covers expenses for prescription drugs but you have to make sure that there is no provision for drugs in your Original Medicare plan.
- Medicare Advantage with Checkup Coverage – This provides the highest medical coverage which includes costs for annual medical checkups, dental visits and cleaning, eye care and more like prescription glasses and hearing aids. This plan is the best bet for elderly people who have to take medicines frequently.
It is best to check the details of coverage provided under various plans before you buy one. A number of companies provide these plans so the monthly-based premiums are different and depend on a multitude of factors. It is important to be equipped with all the details about a plan before buying it.
List of Medicare Advantage Plans provided by various companies
Some of the well-known companies that provide Medicare Advantage Plans are:
- Humana
- Aetna
- Cigna
- Anthem/Blue Cross Blue Shield
- United Healthcare
- Regence
- Kaiser
The rate of monthly premiums is dependent on the kind of plan you opt for, the place you live in and the kind of coverage you choose. So, finding out all the details about plans that might be to your advantage is necessary before you make your choice.
To Conclude
Finding out all the details about any Medicare Advantage Plans that you are opting for is very important. Make sure to pick a plan that suits your medical needs and provides coverage for the things that you need coverage for. It is also important to note that certain Medicare Advantage Plans operate with a list of medical service providers, hospitals and doctors so find out the ones that are covered in your area. Check that your Original Medicare and Medicare Advantage Plans do not overlap i.e. the two do not provide coverage for the same issues. These are not approved and are considered invalid. If you feel that your Original Medicare Plan does not provide enough coverage and are close to 65 years of age then it is a good idea to opt for a Medicare Advantage Plan.
