Medicare Advantage Plans – What You Need to Know

Medicare Advantage Plans covers the costs of services provided to the elderly and disabled. These Plans are designed to lower Medicare’s expense and to make the program more equitable for all individuals with varying health needs.Medicare is a program that was originally intended to cover the costs of medical problems in old age. As our population grows, so do the illnesses and diseases, the costs of which become higher. The government has taken steps to provide for these situations by granting seniors coverage through Medicare Part A. Medicare Part B covers the costs of services such as dentist visits, diagnostic tests, and outpatient care. However, if an individual cannot afford the fees associated with the procedures needed, Medicare will often reimburse the expenses up to a specific amount each month, typically based on a formula known as the Part B rate limit.

The formulas for choosing between these different plans are somewhat complicated. The important thing to remember is that every plan has a cost-rate limit, and each has a cap on the reimbursement rate. In order to receive the maximum benefits that Medicare provides, you must use a Plan that is within your Part B cap area.When it comes to Medicare Advantage Plans, individuals who have “no of benefit” are left without the coverage they need, and without any assistance at all from the federal government. While the premium payments are generally lower than the premiums for a traditional Part A plan, the result is a plan that can’t cover most of the overall costs. If you need additional help, then you’ll likely find out that you’re paying a much higher rate than other applicants who have comparable “no of benefit.”

Plan Basics: The first step in choosing a Medicare Advantage Plan is to decide exactly what services you need covered. This will give you a great starting point for the specific benefits that you wish to receive.Also consider whether or not you want the coverage you need to cover only certain types of services, or whether you want it to be complete and comprehensive. The next step will be to select a Plan that is reasonably priced for your income level. Find Medicare advantage plans by visiting

How the Plan is Different From Traditional Medicare: The difference between Medicare Advantage Plans and traditional Medicare coverage may seem subtle, but it can have a profound effect on your budget. Part A covers the basic needs of the elderly, while Part B covers specific services. Some Basic Benefits Plans even offer services such as home health care, self-care services, and even cash assistance for hospitals and nursing homes.Part C is for seniors who require specialized services such as assisted living and home health care. Other plans offer dental, vision, hearing, and pharmacy benefits, as well as rehabilitative therapy and other medical benefits. Each plan varies in its level of service provision.

Medicare Advantage Plans also differs in the way in which they handle claims processing. For example, some plans will automatically enroll the senior into a “transitional” enrollment plan, which functions to ensure that the claims filed by this senior will be processed as quickly as possible.Plan Benefits: Each plan provides a set of benefits based on the services provided by the client. Depending on the Plan, there may be annual deductibles, monthly premiums, a specified level of benefit, co-payments, benefits, or co-insurance charges.¬†The benefits that each plan offers may vary slightly. Consult with a Plan representative for more information about the specific benefits offered.