Medicare Advantage plans are increasingly popular because they cover some of the services that Original Medicare doesn’t. These include prescription drug coverage, dental care, and hearing aids among many others!
It is important to know that in order to enroll in a Medicare Advantage plan, you must first be enrolled in Original Medicare.
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Health Maintenance Organization Plans: HMO plans are an affordable coverage option. These plans limit their coverage to in-network providers. This means that you are given a list of providers to choose from. If you deviate from these providers, you will have to pay out-of-pocket costs. You are also required to choose a primary care physician and get referrals to see any specialists.
Preferred Provider Organization Plans: When you’re looking for a higher level of coverage, PPO plans are typically the way to go. They offer more flexibility and choices than HMOs but at an increased cost in comparison – though each individual’s situation might vary depending on which out-of-pocket maximum they reach or don’t exceed with their current plan type before adding another line (PPO). You’ll still have access to all network providers without having any referral or primary care physician requirements.
Private Fee-For-Service Plans: This type of plan gives you the freedom to choose any healthcare provider, so long as they are part of your Medicare Advantage Plan. You won’t have a primary care physician or be referred out for specialty treatments- but this plan will determine how much is paid by them and what rate fees apply in regards to services rendered.
Special Needs Plans: Medicare Advantage Special Needs Plans are a great option for individuals with chronic health conditions and specific healthcare needs. These plans will cover everything that Original Medicare does, but they also include prescription drug coverage which makes them even more valuable!
Medicare Advantage plans have a wide range of premiums, with some as low at $0 and others ranging up to around 21 dollars per month. There’s also an out-of pocket limit for Medicare part C which can behelpful in reducing your total costs when combined together!
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