Medicare Advantage, or Part C, is a comprehensive insurance option that allows beneficiaries to select desired coverage and build the policy that will work best for them. Choosing Medicare Advantage means taking the initiative of your insurance and formulating a plan specifically for your medical needs.
Original Medicare vs. Medicare Advantage
Original Medicare consists of Parts A and B and provides both hospital and health insurance. While Original Medicare is sufficient for some, others prefer enrollment in Medicare Advantage. Medicare Advantage provides all of the same coverage that Parts A and B do, with some additional areas that can be added on.
Pros of Medicare Advantage
Medicare Advantage plans can be specifically tailored to fit your needs. This type of insurance allows beneficiaries to choose the areas of coverage that they’re anticipating using in the coming year. Vision, dental and hearing coverage can all be added to a Medicare Advantage Plan, but are not included within Original Medicare. This is just one example, as there are many areas of coverage that can be added to Part C.
There are many different types of plans within Medicare Advantage. PPO Plans are a certain type of policy within Part C. Preferred Provider Organization Plans allow beneficiaries to see specialists within the set network at a low price. Having direct access to talented medical professionals is extremely important and can be life-changing for those with complex medical situations. Many specialists who accept PPO Plans will not require referrals, eliminating the need to see another doctor before your visit with a specialist.
Cons of Medicare Advantage
It’s complicated to discuss the price of Part C Plans. The cost can range greatly, varying depending on the type of plan, how much coverage is used, deductibles, and whether or not you have other insurance. However, some Advantage Plans may cost more than Original Medicare. This is due to the increased amount of coverage that Advantage Plans offer.
Medicare Supplemental Insurance is not available for those enrolled in Medicare Advantage. If you wish to enroll in a Medigap policy, you will need to be enrolled in Original Medicare.
If you’re wondering what an Advantage Plan could cost you, it’s best to speak with an insurance provider. Because Part C Plans are sold through private insurance companies, they control the pricing and will be able to provide you with an estimate.
Contact Cornerstone Senior Advisors
Speaking with a professional is one of the best ways to be sure you’re enrolling in the right plan for your needs. Advantage Plans can provide peace of mind and significantly lower medical bills. At Cornerstone Senior Advisors, we’re here to answer any questions you have.