With a well-picked medical insurance policy, your out-of-pocket medical expenses should be at a minimum. However, a lot of insurance enrollees overlook important policy options and guidelines that end up costing them more money. If you struggle to make ends meet because your medical costs are too high despite insurance, it may be time for a bit of guidance. Here on our blog, we cover the bases to help people just like you get the most from their medical insurance policy. We discuss things like finding the most affordable in-network providers, keeping co-pay costs as low as possible, and how to save on prescriptions.
-
The Benefits of Dental Insurance: Why Every Family Needs It 3 January 2024
-
The Upside Of Private Medical Insurance Advantage Plans 20 November 2023
-
Navigating the Enrollment Process for Medicare Supplement Plans 12 October 2023
-
What Can A Medicare Advantage Plan Do For Me? 31 August 2023
Medical Insurance Tips to Get the Most from Your Policy
The Basic Of How Medicare Advantage Plans Work
June Robertson
Medicare Advantage is a type of Medicare health plan that allows you to combine Original Medicare, Parts A, and B, with a private insurance company. There are many different plans available from different companies.
How many different insurance providers offer Medicare Advantage plans in your area can vary greatly; rural areas often only have access to plans from one provider, whereas urban areas often have access to Medicare plans from multiple insurance providers.
What is Medicare Advantage?
Medicare Advantage is a type of health insurance plan that offers Medicare benefits through private insurers. If you qualify for Medicare, you can choose to enroll in a Medicare Advantage plan. In most states, you can choose from several companies offering these plans.
You'll still get your coverage through the federal government but with some extra features: You'll have access to a network of doctors and hospitals that contract with your chosen insurer. Like with traditional insurance, you can choose between HMOs, PPOs, and HMO-POSs.
Some plans include prescription drug coverage as well as other benefits like dental care or vision care—or even gym memberships!
Who is eligible for a Medicare Advantage Plan?
You can enroll in a Medicare Advantage Plan if you are eligible for Medicare Part A and Part B. Generally, any United States citizen over the age of 65 can enroll in Medicare.
You can also enroll in a Medicare Advantage Plan if you are eligible for Medicare Part A but not Part B or if you have ESRD (End Stage Renal Disease).
How do I enroll in a Medicare Advantage Plan?
You can enroll in a Medicare Advantage Plan three months before you turn 65 to three months after you turn 65. During this period, you can choose the type of Medicare coverage you want.
Once you are enrolled in Medicare or a Medicare Advantage plan, you can switch plans during the Annual Enrollment Period, which runs each fall, from Oct. 15th - Dec. 7th. If you switch during this period, your plan coverage will start at the beginning of the upcoming calendar year.
With so many options, it can be hard to know which Medicare Advantage Plan is right for you. The key is to determine what plans are offered in your area and then compare the plans in your area. You want to choose a plan that offers you access to the doctor network that provides you with access to the top medical professionals in your area.
For more information on Medicare Advantage Plans, contact a medical insurance provider near you.
Share