Medicare Advantage Plans
Often referred to as ‘MA Plans’, Medicare Advantage Plans are basically an ‘all-in-one’ alternative to Original Medicare. These plans are provided by private companies, which are primarily approved by Medicare.
In case you join a Medicare Advantage Plan, you still have Medicare. The bundled plans include three parts :
- Medicare Part A (Hospital Insurance)
- Medicare Part B (Medical Insurance )
- Medicare drug coverage (Part D)
You can find the Medicare Advantage Plans in your area here.
Most of the new Medicare advantage plans provide support for things that the Original Medicare did not cover. This includes some hearing, vision, fitness, and dental programs. Some plans may also have additional benefits like coverage for services like transportation to doctor visits, over the counter (OTC) drugs, and even those services that enhance your health and well being.
Some packages could also be tailor-made to provide certain benefits to patients who suffer from chronic illnesses. These packages will be customized in a specific way to treat their respective illnesses. We advise you to check the plan thoroughly beforehand and analyze the benefits it offers, if you might qualify and if there are any limitations. You can learn more about everything that the Medicare Advantage Plans cover here.
Rules for Medicare Advantage Plans
Medicare offers to pay a fixed amount of money for your care each month to the respective companies providing Medicare Advantage Plans. Such companies are required to follow the rules established by Medicare. These rules are not standard and can be subject to change each year.
How much you pay in a Medicare Advantage Plan actually depends on a variety of factors. Sometimes, you need to use doctors and healthcare providers who are available in the network of the plan and service area for lesser costs. Some plans do not cover any kind of services available from health care providers outside the network of the plan and service area. Learn more about these factors and costs here.