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What Are Medicare Advantage Plans?

What Are Medicare Advantage Plans?

What Are Medicare Advantage Plans?So What are Medicare Advantage Plans anyway? By definition Medicare Advantage Plans are an “option to receive their Medicare benefits through private health insurance plans, instead of through the original Medicare plan (Parts A and B)”*. Introduced with the passage of the Balanced Budget Act of 1997 these optional Medicare Choice or Medicare Part C plans gave seniors a choice in the federal medicare program. Prescription Drugs Plans were added to these medicare plans with the introduction of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003. Medicare Advantage (MA) Plans today combine Medicare Parts A(Hospital),B(Medical Insurance) and D(RX Drugs Plans).

What Are Medicare Advantage Plans & how do they work?

Now that you know how Medicare Advantage Plans came about, let’s look into how they work and see what advantages they really give Seniors. In order to offer Advantage Plans for Seniors, providers of such plans must be approved by Medicare. Medicare pays the private medicare advantage health plan a fixed amount each month for eligible members members enrolled in the plan. Members pay a monthly premium to cover items that traditional medicare does not cover, such as dental,vision,prescription drugs etc. In turn for that additional premium for the medicare advantage plan, plan members have access to the plans network of physicians and medical providers, similar to an HMO(Health Maintenance Organization) or PPO(Preferred Provider Organization).

What Are Medicare Advantage Plans & which one is right for you?

Of course not all Medicare Advantage Plans are the same and neither are we as individuals. We each have individual needs and when it comes to health care, we want the health plan that is right for our individual circumstances. Some of the things to consider when comparing medicare advantage plans are:

  • Are there plenty of quality Doctors and medical facilities with the Plan?
  • Are the Physicians within a commfortable driving distance?
  • Will I have to change Physicians in a new medicare plan?
  • What are the monthly premiums on the Medicare Advantage Plan?
  • Will a Medicare Advantage Plan be best with my current health condition?

All these are great questions to ask yourself when you compare medicare advantage plans. Review your options with a qualified insurance professional, by completing an online quote for Medicare Advantage Plans.

Article by Bill Simms
CEO of Quote Guy Marketing Inc
Parent Company of Medicare Plans of America
Edmonds WA USA

* Medicare Advantage Plans definition taken from Wikipedia Medicare reference.

Article: What Are Medicare Advantage Plans?

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