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There are new Medicare Advantage Plans for 2009. Eligible participants are individuals who have Medicare Part A & B. Medicare Advantage Plans may provide additional medical and pharmacy benefits that are currently not covered by Medicare Part A and B.
Some companies offer Priviate Fee-For Service Medicare Advantage Plans. These plans do not require participants to use a network provider. Fee-For-Service plans are becoming more popular because of flexibility and ease of use. These plans offer nationwide coverage with no referrals needed. Premiums are usually much less than Medicare Supplement plans.
If you stay near home most of the time you may want to enroll in an Health Maintenance Organization (HMO) These plans usually require you to use network providers and you may need a referral to see a specialist. If you decide to enroll in an HMO plan make sure you obtain a list of providers so you can check the quality and availability of Doctors and Hospitals in your area.
One other type of Medicare Advantage Plan is commonly referred to as a PPO Also known as a Preferred Provider Organization. Generally speaking, this is a network program that may allow you to use out of network providers with a higher co-pay or a co-insurance. Rates will vary.
Some companies offer Priviate Fee-For Service Medicare Advantage Plans. These plans do not require participants to use a network provider. Fee-For-Service plans are becoming more popular because of flexibility and ease of use. These plans offer nationwide coverage with no referrals needed. Premiums are usually much less than Medicare Supplement plans.
If you stay near home most of the time you may want to enroll in an Health Maintenance Organization (HMO) These plans usually require you to use network providers and you may need a referral to see a specialist. If you decide to enroll in an HMO plan make sure you obtain a list of providers so you can check the quality and availability of Doctors and Hospitals in your area.
One other type of Medicare Advantage Plan is commonly referred to as a PPO Also known as a Preferred Provider Organization. Generally speaking, this is a network program that may allow you to use out of network providers with a higher co-pay or a co-insurance. Rates will vary.
Medicare Advantage
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If you decide to enroll in a Medicare Advantage plan the private insurer becomes the primary payer. These plans usually offer additional benefits and lower co-pays than traditional Medicare but you should make sure you choose the right type of plan
Here Are A Few Tips When Choosing This Type Of Plan:
For HMO Plans
Make sure sure the plan has a good sized network of Doctors and Hospitals and whether or not YOUR doctors are in the network.
For PPO Plans
While these plans allow you to use out of network providers you should still check if the local Hospitals are “in network” since using “out of network” services can be very costly.
Make sure to find out if it is a “local” or “regional” PPO and if the plan offers nationwide coverage.
For Private Fee-For-Service Plans
Although you can use these plans at any Doctor or provider that accepts the plans terms and conditions, you should still check to make sure your Doctor or Hospital will accept the plan.
A Few Things To Consider
Here Are A Few Tips When Choosing This Type Of Plan:
For HMO Plans
Make sure sure the plan has a good sized network of Doctors and Hospitals and whether or not YOUR doctors are in the network.
For PPO Plans
While these plans allow you to use out of network providers you should still check if the local Hospitals are “in network” since using “out of network” services can be very costly.
Make sure to find out if it is a “local” or “regional” PPO and if the plan offers nationwide coverage.
For Private Fee-For-Service Plans
Although you can use these plans at any Doctor or provider that accepts the plans terms and conditions, you should still check to make sure your Doctor or Hospital will accept the plan.
A Few Things To Consider
- These are not Medicare Supplement plans but the premiums are much lower so you may have to make a co-payment. Usually it will be a small or predictable co-pay.
- Many Medicare Advantage plans will offer an "Out of Pocket Maximum". This puts a LIMIT on how much you will have to pay for medical services each year. This does not apply to prescription drugs (Part D).
- These plans can be very beneficial and saves you a lot of money as long as you understand how the plan works and manage your care wisely.
- It is a matter of preference as to which type of plan you choose. If you can afford a higher premium a Medicare Supplement may be preferable for some.
- If you are not sure or need further assistance call us and we will help!