Why should I buy a Medicare Advantage plan? If I am new to Medicare, do I need anything else? These are questions I am asked frequently.
So, the big question you should ask is whether someone should buy additional coverage when someone has Original Medicare?
Original Medicare is medical coverage from the government. It includes 2 parts.
- Part A: Covering hospital, hospice, and some home care
- Part B: Covering outpatient services, physician visits and some home health visits.
This coverage is universal and covers 80%. This means you would be responsible for 20% of the bill. Again, this is 20% with no maximum out of pocket!
Medicare Advantage plans go beyond Original Medicare with coverage for more services, a maximum out-of-pocket (MOOP), extra benefits, and additional support.
In addition, many Medicare Advantage plans include prescription drug coverage. Medicare Advantage plans often come with extra coverage for services like chiropractic care, acupuncture, dental care, vision, hearing, and services outside the United States.
This is exciting because you can go to a dentist and have preventive care done at low cost and sometimes nothing. A medical doctor can conduct hearing exams and sell hearing aids at a discounted price. Potential to save thousands on hearing aids.
Then to save on vision by having a routine exam and get a benefit towards contacts, lenses, and frames. These additional covered services can mean a significant difference in what you would pay with Original Medicare.
Another notable feature of Medicare Advantage plans is they help you keep your savings with the MOOP. Recently, Medicare Advantage plans have lower premiums and now offer premiums at $0 per month. Signing up for a plan with a $0 premium helps to protect your savings.
Keep in mind that Original Medicare has no limit on what you pay out of pocket. With Medicare Advantage plans, there is a MOOP.
Maybe you are looking for more activity and want a gym membership. Great news, Medicare Advantage plans come with fitness memberships to help you stay active.
Many of these have multiple locations and have a virtual option. Some offer discounts on healthy food at grocery stores. Many offer an over-the-counter benefit to order items you might find in a pharmacy or first aid section, such as band-aids, vitamins, cough syrups, and much more.
If you like to travel, Medicare Advantage plans travel with you. If you need emergency care and you were traveling worldwide, you would have coverage, unlike Original Medicare.
Important for many individuals is prescription drug coverage. With Original Medicare, you will need to purchase a separate policy if you want coverage. Medicare Advantage plans come with prescription drug coverage. That includes the $0 premium plans.
Contact Patriot Insurance Brokers if you need help during two enrollment periods. Medicare Advantage also has a period called Medicare Advantage Open Enrollment Period (MAOEP).
This period runs from January 1st through March 31st and gives Medicare Advantage enrollees the opportunity to switch from their current Medicare Advantage plan to another or back to Original Medicare if they are not happy.
This is a great chance you someone to change if there is a health change or not happy with the carrier. The second time Patriot Insurance Brokers can assist you with finding the best plan is during the Annual Election Period (AEP).
From October 15th through December 7th, we are here to assist you with finding plans best for you. This includes staying on the plan you are currently on. We assist you by looking at your health history and comparing prescriptions for your best coverage.
Medicare Advantage plans offer personal support. Patriot Insurance Brokers Waite Park and Patriot Insurance Brokers Elk River are here to help support. You can call our team of experts with questions about your health plan or plan benefits. We can assist you in finding the best plan that fits your needs.