If you already have an original Medicare plan, you are also eligible to enroll for a Medicare advantage plan. Medicare Advantage plans are being offered by private insurance companies that have been authorized by Medicare. Those companies that are authorized to run Medicare supplement plans must follow certain rules. Apart from that, here are some of the things that you must always know about Medicare advantage plans
It covers everything that Part A and B covers
All types of Medicare advantage plans 2022 cover what Medicare Part A and Part B cover. Medicare part A covers hospice care and part B covers Medical care. For example, if you get a flue that is covered by your Part B, it will also be covered by your Medicare advantage plan. If you get to visit a hospital at night that is covered with your part A medicare, your Medicare advantage plan will also cover you on the same.
Medicare Advantage plans offer extra benefits
The original Medicare Part A and B always have limited coverage when it comes to prescriptions that you take home. Most of the Medicare advantage plans offer prescription drugs. Apart from prescription drugs, Medicare advantage plans also offer other benefits. Some of the benefits being offered by Medicare advantage plans include hearing coverage, fitness benefits as well as routine dental.
Medicare Advantage plans are regulated
Another very important thing that you should know is that the Medicare advantage plan is regulated. You will still be in the Medicare program even when you have a Medicare advantage plan. Your services will indeed be administered by a private company but the Medicare advantage plan is regulated by Medicare. Even with private insurance companies offering Medicare Advantage coverage, you will still be entitled to Medicare protections and rights. You have a right to appeal your coverage decision.
Medicare Advantage plans have a maximum out of pocket coverage
Unlike the original Medicare Part, A and Part B, Medicare advantage plans have caps on how one is supposed to pay their out of pocket for their covered Medical expenses. The out-of-pocket maximum always reset yearly. That means that there will be a new out of pocket maximum come 2022.
With a Medicare Advantage plan, you will have to pay two premiums
There are some types of Medicare advantage plans with premiums as low as $0. There are also Medicare Advantage plans in 2022 that demands that you pay premiums for you to stay covered. Apart from the Medicare advantage plan, you will also have to pay premiums for your Part B plan. Your original Part B premiums are always paid to the government.
You can get a Medicare Advantage plan even with medical conditions
If you have a history of illnesses or you have a pre-existing condition, such as cancer, high blood pressure or any other condition will never prevent you from getting a Medicare advantage plan. The only medical condition that might be a hindrance to your cover is ESRD.