Medicare Advantage plans are a kind of health insurance which is different than Original Medicare. Medicare Advantage Plans are offered by the private insurance companies which are monitored by the federal government but differently than Original Medicare. This policy is also known as Part C health insurance. The best Medicare Advantage Plans contain the Original Medicare (Part A (hospitalization coverage) and Part B (doctor visits)), and due to this the Medicare Advantage Plans always contain the Part B premium. However, the costs of different plans differ from each other due to the services they offer.
Costs associated with Medicare Advantage Plans are made up of the monthly premium and just like we have discussed above that it does not matter which plan you choose, you will still have to pay the Part B premium. Many people fall in trap which is laid by private insurers in form of low premiums associated with a plan because a plan which contains low premiums may still be more expensive than others due to its copay.
Generally, copay is an amount which is fixed for everyone for example; everyone has to pay $40 for a particular healthcare service. There are some Medicare Advantage plans which offer copay amounts as low as $0 for certain services such as visit to a primary care doctor similarly some schemes may charge you copay for that. You can find many plans which also charge copay for visits to a specialist. In case you are an enrollee of a Preferred Provider Organization plan then you may have to pay up higher copays for out-of-network doctor visits. Some of them charge $0 for preventative services like hearing, dental, and vision services. However, same plans may charge you copay for services like:
- Admission to emergency rooms.
- Availing ambulance services.
- Outpatient surgery.
- Trained nursing services.
- And Outpatient rehabilitation services.
There are some plans which contain deductibles, and some do not. Deductible is a fee which you will have to pay-out-pocket for covering your own health care services before your plan starts coverage.
After analyzing information mentioned above, one can see that health insurance Advantage schemes have different types and he or she can choose that one type which can provide him or her coverage for things that he or she wants. Moreover, health insurance Advantage schemes are considered to be more cost-effective than Original health insurance.