Medicare Advantage plans: 4 facts to know

Even though Medicare Advantage plans are said to have become quite popular among senior citizens in the United States, the truth is that there are still some misconceptions prevalent that needs to be understood and done away with.

4 facts on Medicare Advantage plans for every applicant to know-Find a plan here

Prior to signing for any of the Advantage plans, it will be useful to first know about some facts that can help take the correct decision to buy the best available one that is worth the investment.

  • Advantage plan costs varies from one provider to the other, although they do offer identical benefits from every plan. The truth is that only the premium rate changes depending upon the provider selected. So, it will be wise to check out several providers, find out their reputation and customer service reputation and accordingly make a wise and well researched approach. Since no insurance provider is compelled to promote all the available 12 plans, it is quite natural for them to move with those plans that will offer them more benefits. So select a plan which is needed by the individual to meet medical needs.
  • Irrespective of the provider selected for buying the Medicare Advantage plans, the coverage is likely to be very much the same. Advantage plans do help to provide coverage to those gaps that exist with original Medicare. Different benefit levels offered by the comprehensive 12 plan program that is labeled as Part –A to Part L. several insurance carriers might offer more than one plan.
  • There will be required to buy only one advantage plan along with traditional Medicare, according to law. The advantage purchased should be in accordance to the specific health and medical needs of the individual and cover appropriately the gap not covered by Medicare. In case, Plan D covers specific needs, then other advantageal plan will not be required. According to federal law, trying to sell additional advantageal plans is deemed illegal.
  • It is only the applicant who is eligible for Medicare insurance policy coverage and not the spouse or kins, unlike that of traditional insurance policies. Couples will be required to purchase individual Medicare policies. So if any agent recommends to purchase Medicare advantage insurance policy for both, then it is better to avoid them.

Doing adequate research on the Medicare Advantage plans and keeping in mind the above facts can help to avoid taking wrong decisions.