If you are contemplating a change in supplementary plan in the next Medicare enrollment period, then it may be best to consider any major procedures or changes in your healthcare needs that may arise over the course of the coverage. It is not always easy to predict health needs on the horizon, but if you are in the position to expect a potential medical procedure, such as a surgery, then you should weigh your coverage options for the coming year.
Note: there are exceptions and differences in many plans, therefore, it is always wise to consult with a licensed Medicare supplemental and advantage insurance expert in your area. Contact Ameri Quote for answers to your Fort Collins Medicare questions and concerns today.
Medicare Advantage Plans, also called MAP or MAPD (with prescription coverage), may feature lower monthly premiums than Supplemental plans, but feature co-payments for hospital and physician visits. Advantage plans work similarly to the health insurance plans most Americans receive through their workplace and are great to have since they cover things that traditional Medicare (Parts A and B) does not cover.
Advantage plans are primarily used by those seeking an alternative to traditional Medicare. If a person opts into MAPD coverage, they will enjoy a great reduction in prescription costs, often times receiving generics almost entirely free of cost. It is important to note that a person enrolling in an Advantage plan is not required to receive Medicare Parts A and B, since they receive their benefits through a third party provider.
While Advantage plans offer lower premiums than a Supplemental plan, there are a couple of major drawbacks. The first being that there are still copayments, just as there would be with Medicare. Additionally, the “gaps” filled by an Advantage plan is mostly limited to health and wellness items not covered in traditional Medicare plans, more exotic or out-of-country coverage is still not included with an Advantage plan.
Because of this, we recommend Advantage plans for those looking to only minimally supplement current Medicare offerings or those that are using a Medicare alternative, such as those looking for wellness, vision, or prescription coverage to supplement their Medicare coverage. To find out if Supplemental insurance will better fit your situation, read Part 2: Supplemental Insurance.
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