Medicare Advantage plans provide comprehensive coverage that goes beyond what Original Medicare offers. This comprehensive coverage can be highly appealing as it eliminates the need for multiple insurance policies and provides a convenient and streamlined approach to healthcare.
Members with Medicare Advantage are focused upon preventative services, reducing the likelihood for hospitalizations and expensive out-of-pocket costs. While Medicare Advantage plans typically require payment of a monthly premium, they often have an annual out-of-pocket maximum. This cap limits the amount an individual is required to pay for covered services in a given year, protecting them from excessively high medical expenses.
There are many benefits to choosing Medicare Advantage. One important one is that it can be considered your all-in-one Medicare plan, giving you options to add prescription drug coverage, dental, vision, and more to your plan. If keeping all of your cards in order is your issue, Medicare Advantage is the plan for you! Another factor you must consider with MA plans is they run within a network of doctors, so unless your preferred doctor is contracted, you may need to consider other options.
Disclaimer: B&B Life and Health offer the following plans in your area including plans from Aetna, Cigna, Humana, and United Healthcare. You can always contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) for help with plan choices.
Medicare Advantage plans provide the same coverage as Original Medicare but may also offer additional benefits such as prescription drug coverage, dental, vision, hearing, and wellness programs. Also, unlike Original Medicare, MA is provided by private insurance companies. Medicare Part C plans also operate within a network of doctors, while Original Medicare will allow you to see any provider enrolled with Medicare.
The cost of Medicare Advantage (Part C) can vary depending on various factors, including the specific plan you choose, your location, and your income level. While some Medicare Advantage plans have a $0 monthly premium, others may have a premium that you need to pay in addition to your Part B premium. The premium amount can vary widely based on the plan's coverage, network, and additional benefits. Additionally, Medicare Advantage plans may have deductibles, copayments, and coinsurance for different services, such as doctor visits, hospital stays, and prescription drugs. It's important to carefully review the details of each plan with your agent to understand its specific costs and coverage.
To be eligible, you must first meet the basic requirements for Medicare - including being 65 years old or older and either a U.S. citizen or a legal permanent resident who has lived in the United States continuously for at least five years. However, there are additional eligibility criteria specific to Medicare Advantage. You must be enrolled in both Medicare Part A and B to join. It's important to note that other eligibility requirements may vary slightly depending on the specific Medicare Advantage plan and the private insurance company offering it. It's advisable to consult with your agent to determine your eligibility and enrollment options for Medicare Advantage.
Medicare Advantage plans are required to cover all pre-existing conditions, just like Original Medicare. Under federal law, insurance companies offering Medicare Advantage plans cannot deny coverage or charge higher premiums based on pre-existing conditions. This means that if you have a pre-existing condition, such as diabetes, heart disease, or cancer, you cannot be denied enrollment in a Medicare Advantage plan solely because of that condition. Medicare Advantage plans must provide the same coverage for pre-existing conditions as they do for other health conditions. Also, Medicare Advantage plans are not allowed to impose waiting periods or exclusions for pre-existing conditions.
The best time to switch from Medicare Advantage to Medigap without being subject to medical underwriting is during the Medigap Open Enrollment Period (OEP). The OEP begins on the first day of the month in which you are both 65 years old and enrolled in Medicare Part B and lasts for six months. You would be eligible for Medigap plans without needing to complete underwriting. If you want to switch outside the OEP, you may be required to complete medical underwriting. This means the insurance company can review your health history and may potentially deny you coverage or charge you higher premiums based on your pre-existing conditions. Before making the switch, it's important to carefully consider the benefits, costs, and coverage provided by both Medicare Advantage and Medigap plans.
We are contracted with several carriers in Florida and will help find the coverage that fits for you and your loved ones.
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