Medicare Advantage Plans are another way to get your Medicare Part A and Part B coverage. Medicare Advantage Plans, sometimes called “Part C” or “MA Plans,” are offered by Medicare-approved private companies that must follow rules set by Medicare. Most Medicare Advantage Plans include drug coverage (Part D). In most cases, you’ll need to use health care providers who participate in the plan’s network. These plans set a limit on what you’ll have to pay out-of-pocket each year for covered services. Some plans offer non-emergency coverage out of network, but typically at a higher cost. Remember, you must use the card from your Medicare Advantage Plan to get your Medicare-covered services. Keep your red, white, and blue Medicare card in a safe place because you’ll need it if you ever switch back to Original Medicare. Below are the most common types of Medicare Advantage Plans.
- Health Maintenance Organization (HMO) Plans
- Preferred Provider Organization (PPO) Plans
- Private Fee-for-Service (PFFS) Plans
- Special Needs Plans (SNPs)
Other less common types of Medicare Advantage Plans that may be available include
HMO Point Of Service (HMOPOS) Plans and a Medicare Medical Savings Account (MSA) Plan
At Richmond Insurance and Associates, LLC, we would be glad to look and see what Medicare Advantage Plans are available in your service area. You may contact us so that a Licensed Broker can call you back to discuss your options.
Originating in the 1960s, Medicare is a government-provided fee-for-service insurance program intended primarily for seniors. The program encompasses several distinct parts, each of which is outlined below.
- Medicare Part A covers facility-based care such as hospital visits, emergency room services, hospice, and nursing home care.
- Medicare Part B covers traditional outpatient treatments and services, including vaccinations, lab tests, mental health services, outpatient operations, durable medical equipment, and most other medical services not performed in a hospital.
- Medicare Part C (Medicare Advantage) covers elements of Parts A, B, and sometimes D.
- Medicare Part D covers prescription drugs.
- Medigap comes through private insurance companies and aims to fill in the “gaps” left in the traditional Medicare coverage.
While standard Medicare offers coverage for a wide variety of services, you may find that a different plan through a separate insurance carrier better fits your needs. If you are interested in an alternative plan, we can help you find coverage through either Medigap or Medicare Advantage. Both of these plans offer additional support through third-party insurers, and they are required to provide equal or better coverage when compared to regular Medicare.Contact Us Today
If you believe that Medigap or Medicare Advantage are right for you, contact us today to discuss your insurance options.*Disclaimer: This page has not been reviewed or endorsed by Medicare.gov or any member of the Centers for Medicare & Medicaid Services (CMS).