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Medicare Advantage plans come in handy if you want to get hospital and medical insurance benefits. You can get Medicare Advantage plans without having to pay high premiums. However, there is so much confusion when it comes to Medicare Advantage. Here are eight questions about Medicare Advantage, whose answers you need to know before you sign up.
What are the “advantages” of a Medicare Advantage plan?
Medicare Advantage plans usually have lower premiums compared to Original Medicare. This is the main reason why people purchase Medicare Advantage. Also, there's coverage for healthcare that you don't have in Original Medicare. That includes dental, vision, and hearing aids, as well as nutrition services discounts.
How much does Medicare Advantage cost?
Medicare Advantage has a wide range of costs, but it depends on a number of things. Your policy depends on where you will live your retirement, your choice of features, and your level of convenience and flexibility.
What’s the catch with very low premiums or even $0?
The catch is a network. If you want to use your Medicare Advantage plans, then you must agree to have your medical care handled by a specified network of medical professionals. These hospitals, clinics, physicians, and pharmacies are the only ones who can honor your Medicare Advantage benefits.
Do I still have to pay for Medicare Part B premiums if I have a Medicare Advantage plan?
Your Medicare Advantage plans are basically supplemental plans. Enroll in Medicare Parts A and B first before you purchase Medicare Advantage. With Medicare Advantage, Medicare pays insurers a fixed amount per monthly coverage, and the insurer pays providers depending on their contract.
Will my MA plan cover me if I live in two places during the year?
It depends on the network of local providers in your area. Also, it depends on the networks that your insurer has set up. If you have a large insurer, you can have benefits in multiple states reached by the network. Ask your insurer if your Medicare Advantage plan has a passport that allows you access in two states.
How do I get covered by my MA plan while I’m traveling?
Check if your Medicare Advantage plan includes a travel option. The wiser choice would be to purchase separate travel insurance for the entire duration of your trip.
Can the cost of my Medicare Advantage plan get higher?
Yes. Insurance companies usually make an assessment of their pricing policies every year. Your plan will send you a notification in case there’s an increase in premiums. Social security will inform you about possible increases in Part B premiums.
Can I switch to Original Medicare with a Medigap plan in case I change my mind later?
Yes. Every year, you can make that switch during open enrollment. That’s from October 15 to December 7, and you can switch between the available Medicare Advantage plans or back to Original Medicare.
Some Final Words
Without adequate knowledge about your Medicare Advantage plans, you can’t go any further. Learn much about Medicare Advantage and enjoy your retirement with one.
At Simplified Insurance Solutions, LLC, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (888) 340-7633. You can also request a free quote by CLICKING HERE.
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