In the past couple of years, Medicare Advantage plans have become high in demand, especially for those who need a solid alternative to Medicare. A lot of people who are over sixty-five turns to Medicare, however, dealing with numerous aspects of it can be a bit intimidating.

For instance, there are Medicare Part A, then Medicate B, Medicare Insurance, etc. So what do Medicare Advantage plans represent? Namely, they are typically provided by private insurance companies that are collaborating with Medicare.

Furthermore, they practically offer the same level of coverage that these two plan alternatives provide. So, should you consider these options as positive or negative? Below we will give you the answer to these questions.

Advantages And Disadvantages of Medicate Advantage Plan

Excellent Coverage Options

Original Medicare can be defined as something that's more basic since it provides users with only two kinds of coverage: medical insurance and hospital insurance. Now, if you're interested in better coverage then you will have to buy Medicare Part D which is for prescription medication coverage, and/or Medigap which is intended for supplemental coverage. As far as the Medicare Advantage plan is concerned, all these options are part of a single plan.

Medicare Advantage Plans Are Potentially More Cost-Effective

If you choose a Medicare Advantage plan, you will keep on paying your Medicare Part B premium, plus you may also give extra money for an additional premium. The insurer is the one who is going to determine the plan's premium which can differ from one another.

What's interesting is the fact that some of these plans can come with premiums that are literally zero dollars. Speaking of the advantages and disadvantages of Medicare Advantage plans, one of their biggest virtues is the fact that your cost-sharing can potentially be less if you opt for Medicare Advantage. For instance, if you decide to visit your healthcare provider under Medicare Advantage, it is highly likely you will give only ten dollars for copayment.

On the other hand, if you do exactly the same under Original Medicare, it means that you will spend more. Furthermore, this plan confines your maximum out-of-pocket cost. So what does it mean then?

It means that once you've spent that particular maximum, you are not obligated to pay any additional money for covered medical services until the end of the year. Namely, that's not the case with the Original Medicare.

That's why it is easy to conclude that a Medicare Advantage plan is much more affordable than the original one. Now, if you wish to reap all the benefits of Medicare Advantage, along with Original Medicare, you would also have to obtain Medicare Part D Prescription Drug Plan, along with Medicare Supplement Plan.

Is There Anything Else Worth Knowing?

You'll Receive Coordinated Medical Care

A lot of Medicare Advantage plans come with coordinated medical care. What does it mean? It just goes to show that most likely your doctor is communicating with various medical specialties and healthcare services.

Namely, this is extremely beneficial because this way your healthcare provider will make sure that you have a high-quality healthcare team by your side and avoid any additional costs, as well as problems like medication interactions.

What Are Disadvantages Of Medicare Advantage Plan?

Your Options Can Potentially Be Restricted

This highly depends on the place you live in. In some cases, your Medicare Advantage plan options may potentially be restricted, or in some cases, you may not be allowed to use any of these advantage plans.

As it was previously mentioned, Medicare Advantage plans are provided by private insurance companies which means that coverage can vary from one state to another. For instance, according to Kaiser Family Foundation, in California, you can get access to more than two-hundred options.

On the other hand, in Wyoming, the situation is drastically different. Out there you can find only five. As far as Alaska is concerned, you won't find a single plan at all.

Plans' Coverage For Some Procedures And Services May Need Doctor's Referral And Authorization

Why is this necessary? It's because Medicare Advantage plans are trying to prevent the overuse or misuse of healthcare through numerous means. This typically involves prior authorization for home health care, hospital stays, medical equipment, and different procedures that are quite complicated.

Furthermore, Medicare Advantage plans will frequently demand from your healthcare provider to write a referral for specialists before they decide they will give money for services.

Additional Expenses For Coverage

When it comes to Original Medicare, it charges deductible, premium and coinsurance for both A and B parts, along with Medigap expenses and any Part D. On the other hand, Medicare Advantage plans frequently combine these expenses, however, you may notice some extra fees.

For instance, a lot of Medicare Advantage plans involve specialist visit copays and drug deductibles.

You Cannot Qualify If You Have End-Stage Renal Disease

Even though a lot of people with preexisting medical conditions can qualify for these plans, there are those who unfortunately are not able to do so. This refers to patients who are at the last stage of renal disease. So what can those people do? Sadly, their only option is to enroll in Original Medicare.

These Plans Have Specific Service Areas

A lot of these plans have regional networks of providers, instead of nationwide. So what does it mean? It means that you are eligible for Medicare Advantage plans only if you live in their plan's service area for at least six months per year.

This just goes to show that if you decide to move to another service area, the Medicare Advantage plan that you're currently using may become unavailable which means that you will be forced to select a different Medicare Advantage plan.

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After reading both the positive and negative traits of the medicare advantage plan, you are probably wondering if this is something worth both your time and money. Nobody can make that decision for you. That's why you should carefully go through this article to determine if, for the time being, this is a good option for you or not.