Medicare Advantage Plans
Great River Insurance Group
What is Medicare Advantage?
Medicare Advantage plans, or Part C, are full Medicare Coverage. Unlike Original Medicare, Private insurance companies manage both Medicare Advantage (MA) and Part D plans. In fact, many MA plans also include Part D prescription services in them (MAPD).
On Original Medicare, ran and funded by the Federal Government, Part A covers hospital expenses, Part B covers physicians, and a separate, private, Part D policy covers prescription medications. If you join a Medicare Advantage plan, Part C, then instead of the Federal Government being in charge of your healthcare, you will choose the company yourself that manages your health insurance.
All MA companies are contractually obligated to give you the same level of coverage as Original Medicare (or better). In addition, any money left over will go back to you in the form of supplemental benefits. The private insurance company, which manages your Medicare Advantage plan, is obligated to put that money back into the plan. Furthermore, that means more benefits for you. Most Advantage plans come with some level of Dental, Vision, and Hearing coverage built into them. Some plans also include an over-the-counter card. You can use those for paying for cold medicines, cotton swabs and sometimes even food or utility bills.
Drawbacks to Advantage Plans
Having to deal with a network is the major drawback to choosing an Advantage plan over Original Medicare. Although some plans need referrals, others do not. All Advantage plans have a network of doctors. While some plans allow you to see doctors outside of their network for a higher copay. Other plans force you to stay in network to have any coverage. You absolutely need to check all your doctors and hospitals to make sure they will be covered before joining any Medicare Advantage plan. Although, we do that all for you here at Great River, all you need to do is schedule a consultation.
What MA Isn’t
Medicare Advantage isn’t free. Many plans do not need a monthly premium, but they do have copays for services. Some copays are be as low as $0, like for a visit to a primary care physician. Overnight hospital stays, on the other hand, can be hundreds of dollars. The exact plan you choose will decide your individual copays. We will discuss all of this in your consultation.
Medicare Advantage isn’t a scam. – Although Advantage plans can sometime sound like scams, they aren’t. You still need to keep your Medicare Part A & Part B active, which helps fund any Advantage plan that you join. Any extra benefits you get on the plan are directly due to the insurance company having more stringent contracts with providers and hospitals.
Would you like things explained further? Schedule a consultation today!
Get a Personal Consultation
Benjamin Thompson of Great River Insurance Group will be your advocate and expert in Medicare options and planning. Our mission here is to both simplify the jargon and inform you of your options. We offer a range of choices tailored to both your health needs and financial situation, from supplements to advantage plans. Our only goal here is to see you in a position to have everything you need to live a happy and fulfilling life, never having to give a second though to your Medicare coverage.
Interested in learning more about your current coverage options? Maybe you signed up through an insurance carrier directly and you’d just like a second opinion, from an unbiased point of view. No matter the reason, we’re here to help you. Schedule a consultation today!
Great River Insurance Group is open daily from 8 am to 8 pm central time. Need to have a consultation outside of normal business hours? We will cater to your schedule. Specify the time and date that works best for you. Act now to schedule a no-cost, no-obligation consultation today! Medicare: Made Simple.
¹HealthAlliance & BlueCross BlueShield of Illinois plan options are listed separately.