Plans of Medicare Advantage are official by Medicare and are offered through private companies. They provide the A and B Parts for hospital and medical insurance. However, majority of the MA plans are preferred provider organizations or health maintenance organizations. In fact, some are also PFFS plans.
Medicare Advantage plans for 2019 found at https://www.medicareadvantageplans2019.org/humana-medicare-advantage-plans-2019/ result in paying fewer premiums monthly in comparison to the supplement plans, Medigap and also the Traditional Medicare. The premiums of Medicare Advantage also include zero monthly premiums, while some have $25 to $20 a month as well. The plans cost vary based on the place you live. However, in some areas, the Medicare Advantage plans premium cost may be high as well.
The low premium trade-off is in having higher co-insurance and deductibles with health care. Remember, if you use the hospitals and doctors away from the network plan of Medicare Advantage, it may result in paying more as you may or may not have the coverage received.
Mostly, the prescription drug coverage is offered in Medicare Advantage plans and if you have Traditional Medicare, buying separately the Part D drug coverage is recommended.
Look here to know about Medicare Advantage plans choosing:
- First before choosing, consider the hospitals and doctors in the network of the plan. The provider network can change every year and also in mid-year. In case you wish to use some particular hospital or doctor of your choice, ensure they are in the plan network.
- Ensure to stay for most part within the network. Most Medicare Advantage plans are good and so you get things done wherever you go. In case, they do not have in the network a specialist that you need, they will get someone.
- Medicare Advantage Plans in 2019 are acceptable with the providers and must be checked, because there are few outside who do not accept the coverage
- Look at your usage and drugs, do you need prescription drugs, very carefully, check the list of covered medications. It is best you work on a spreadsheet if you are taking regular medications to know the costs of Traditional Medicare and Medicare Advantage plans options.
Note: On taking many prescriptions, there is possibility you reach the ‘donut hole’ the coverage gap. This is the Medicare Advantage annual limit for the drug plan to offer cover.
In 2018, this coverage gap is on spending $3,750 on medications covered medications. It means after that, you pay for the drugs from your pocket until the year end.