Choosing a Medicare Plan

If you are planning to enroll in Medicare soon, you’ll have to decide whether you want to enroll in Original Medicare or Medicare Advantage.

 While there is only a single plan option for Original Medicare, Medicare Advantage comes with many different plans.

Here’s how you can choose the best Medicare Advantage plan.

What is Medicare Advantage?

Medicare Advantage plans are offered through Part C of Medicare. Through Medicare Advantage, Medicare beneficiaries can receive Part A and Part B benefits through private insurance companies. The companies that provide Medicare Advantage coverage have contracted with Medicare to provide benefits to their beneficiaries.

Medicare Advantage plans are an alternative to Original Medicare, but the plans are required to offer the same minimum benefits as Original Medicare. Through Medicare Advantage, you will receive Part A hospital insurance and Part B medical insurance. In addition to these benefits, you may also be eligible to purchase a plan that offers extra benefits.

Medicare Advantage Benefits

You should choose your Medicare Advantage plan based on the benefits you need. Of course, you’ll always get your Part A and Part B benefits through these plans, but extra benefits vary across plans. Some plans offer the following additional benefits:

Some or all of these benefits may be offered, depending on the plan in question. Please speak to an insurance professional to find plans that offer the benefits listed above.

How Much Do Advantage Plans Cost?

Before choosing a plan, you’ll want to make sure that the cost of coverage falls within your expected budget. Some Advantage plans require additional premiums on top of your Part A and Part B premiums. Others have no additional premium. You should also be aware of coinsurance, copayments, and deductibles that are associated with your plan. These out-of-pocket costs can pile up if you don’t choose the appropriate form of coverage. Therefore, it’s always best to invest time into finding a plan that has the benefits structure that you prefer.

Browse Medicare Advantage Plans Near You

The Medicare Advantage plans in your area are different from plans in other areas. To get a concise list of potential plans in your area, please call Magellan Healthcare. We can help you get started with your search for Medicare Advantage plans.