Insurance 101: Understanding Medicare Advantage In 2021

​Medicare advantage, aka MA or Medicare Part C, is a version of private-sector health insurers’ health insurance. Unlike conventional Medicare plans, this version joins Plan A and Plan B into one with added benefits.

What is Medicare Advantage?
The beneficiary settles a monthly payment to an independent insurer to cover in-patient and out-patient bills (Part A and Part B, respectively). Some even go as far as providing coverage for dental procedures and gym memberships. While some are short-term with lifestyle restrictions, there are long-term ones that are more flexible and offer better care at a cheaper rate.

Potential benefits of this cover include:

• Physician visits
• Hospitalization
• At-home caregiver services
• Hospice 
• Prescription medication
• Preventive care
• Dental procedures
• Optometric health
• Auditory health
• Gym fitness membership

Types of Plans Available
Depending on the insurer you’re dealing with, there may be various Medicare Advantage options to choose from. Some of these include:

1. HMO – Health Maintenance Organization
   These plans make use of in-network physicians and need authorization for specialists.
2. PPO – Preferred Provider Organization
   According to the various services available (i.e., in-network or out-network), insurers may charge different rates for this.
3. PFFS – Private Fee-for-Service
   Consider these as exclusive payment plans that give clients maximum flexibility.
4. SNP – Special Needs Plans
   If a customer is dealing with long-term hospital fees for chronic conditions, this is the plan they’ll use.
5. MSA – Medical Savings Account
   It is a plan that acts as a hospital bills savings account paired with high deductible wellness plans. 

 
What to Look Forward to With Medicare Advantage
In addition to the basics offered under standard Medicare, these plans provide policyholders with endless benefits. 

• Convenient Policy Options
  Unlike ordinary Medicare with limited coverage, this policy combines all the covers in one, including prescription medication.
• Customizable Plans 
  The plans offered are tailored to suit every client’s specific needs, so you won’t have to settle for umbrella covers that don’t serve you.
• Money-Saving 
  Most plans are premium-free and offer small to zero deductibles. Additionally, there’s a cap to the maximum amount that customers have to foot themselves.

Conclusion
While Medicare Advantage helps coordinate care from your health care providers, each client has different needs. It’s always advisable to discuss with your prospective or existing insurance provider before purchasing any coverage type.

At Medicare Simplified KC, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (816) 701-6661 or Click Here to request a free quote.