Medicare Advantage
The new healthcare reform is attempting to help Americans stay healthy without needing to overspend for healthcare. There are many private insurance companies that offer health insurance plans for all ages. Original Medicare, Medicare Part A and B, are just some of the most popular for senior citizens seeking personal health insurance coverage.
What is Medicare Part C?
Medicare Advantage Plus, also known as Medicare Part C, traditional Health Maintenance Organizations. Also known as MA plans, Medicare Advantage Plans are offered by private companies permitted to sell by Medicare. There a small few those are through a Preferred Provider Organization. With this plan, beneficiaries are required to have a Primary Care Physician. You will need to have a referral from your primary care provider before you visit another doctor. This plan has a monthly premium in addition to the premium paid for enrolling into Part A or B. Part C covers items that Original Medicare does not cover. This includes:
- vision care
- annual physicals
- prescription drugs
- dental care
Medicare Advantage also has a Medical Savings Account. It is in collaboration with private insurance companies to better serve you. You have the freedom to choose your provider and health services. You can use the money from your MSA to pay for your health insurance costs once you meet the higher yearly deductible.
Most seniors chose a Medicare Part C plan because the co-pay is reduced by 20% and the deductibles are not as high. In some states the benefits are limited and Medicare A or B may offer better personal health insurance coverage.
Medicare Part C does cover similar benefits of both Medicare Part A and B combined including:
- Hospital stays
- Hospice care
- Inpatient and outpatient visits
- Ambulance services
- Surgeries and treatments
It is important to note that if you have Medicare Part C, you can also have Medigap. Medigap works with Medicare Part A and B. Medigap fills the gap between what Medicare A and B lack. It can be compared to Medicare Part C yet there are many differences. In the event that you need additional prescription drug coverage, you would then want to enroll in a Medicare Part D plan. This plan helps minimize out-of-pocket expenses associated with prescription drugs. Again, Medicare Part C does cover prescription drugs but with any health insurance plan there are limitations. With the Medicare Part D plan, you can save well over $1000 a year. If you qualify Medicare Part A, B or C, you automatically qualify for Part D.
