Medicare Advantage is a bundled health insurance plan for eligible Medicare participants, also referred to as Medicare Part C. It is a government-regulated plan which allows private insurers to offer the benefits of Original Medicare (Parts A and B) while allowing for additional benefits to be included. These additional benefits are an incentive to many Medicare participants who want additional coverage for services like vision, dental, or hearing.
What Do Medicare Advantage Plans Offer?
It’s important to understand that Medicare Advantage plans vary widely in what they offer. Because this type of policy allows the insurer to offer additional benefits at their discretion, you will need to carefully familiarize yourself with the policy’s limits. One plan may offer more covered services than another. The only enforced requirement for Medicare Advantage is that it offers every benefit of Original Medicare.
You will never get less coverage with a Medicare Advantage plan. In fact, you will likely get more coverage than with an Original Medicare policy, but it will not cover everything. Examine the costs carefully to ensure you aren’t paying significantly more for limited benefits. Not all Advantage policies are created equally.
Extra Benefits
Among the most common added benefits are prescription drug coverage. Suppose your Medicare Advantage plan does not include prescription drug coverage. In that case, you may be able to enroll in a separate prescription drug policy, but this will depend on the type of plan you’re enrolled in. Just be sure you have all the correct information about your plan. If your Advantage plan does offer prescription coverage and you enroll in a separate policy, you could be disenrolled in your Medicare Advantage plan.
Other extra benefits that may be included are:
- Transportation for health-related services
- Adult daycare
- Health and wellness services
- Gym memberships
Need Medicare Advantage? Call Us Today
Magellan Healthcare is here to help you get the Medicare Advantage coverage you need! To learn more about your Medicare Advantage options and which plan would work best for you, give us a call today.
