MEDICARE ADVANTAGE PLANS
2018 Annual Enrollment Period (AEP) for Medicare Advantage plans:
October 15th - December 7th
Medicare Advantage (MA) plans are Medicare coverage provided through private health insurers. The insurance companies contract with the federal Medicare program to provide benefits which, overall, are required to be as good as or better than Medicare alone.
In turn, Medicare pays the insurance company a fixed amount per person to provide these health coverage benefits.
Many MA plans include drug coverage. Monthly premiums on MA plans may be as low as $0 per month! Much like most under-age-65 health plans, they are managed care plans such as HMOs or PPOs.
Those with Medicare Advantage coverage will usually have copays for medical services such as office visits,
hospitalizations, etc. All such plans do have to provide an annual maxiumum out-of-pocket limit on medical expenses.
Although members of MA plans must still pay their Medicare Part B premiums, they do not purchase Medicare supplemental insurance. Additionally, if the MA plan includes drug coverage, they do not purchase a stand-alone prescription drug plan.
Medicare Advantage plans may also include additional benefits that Medicare does not, such as dental or vision coverage.
Talk with your Health Insurance Solutions agent to see if a Medicare Advantage plan might be a good option for you to consider.
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