As you might or might not already know, Medicare Advantage is a health insurance plan offered to Medicare-eligible individuals. Medicare Advantage plans are rich in benefits for its policyholders and provide many benefits. It is also excellent at delivering coverages not provided through Original Medicare parts A and B. Still, the real question is – what is offered in these all-in-one Medicare Advantage type of health plans, and how do they work? Medicare Advantage works a bit differently than your Original Medicare plans, and has a lot of different functions and moving parts that all work together, to bring you a rich in benefits all-in-one health and wellness health insurance system. Read on to learn precisely which benefits you will receive from enrolling in a Medicare Advantage this year, and why one of these plans might be a great coverage option for you in the long run.
Dental, Vision, Hearing, and More
So what is the number one reason someone should consider enrolling in a Medicare Advantage plan? An Advantage all-in-one health and wellness health insurance package is the reason most Medicare-eligible individuals choose this coverage. Dental, vision, hearing, prescriptions, and many other benefits can come included in the coverage. In addition to these benefits, while Original Medicare has many cost-sharing responsibilities, in the event of a Medicare-covered medical occurrence, that are the recipients’ own responsibility to pay, and has no limit to the maximum out-of-pocket cost-sharing in these medical events, Medicare Advantage plans limit your out-of-pocket exposure by placing a limit on out-of-pocket cost-sharing that you are responsible for paying. As mentioned earlier, other big reasons many pick Medicare Advantage is, many Advantage plans provide beneficiaries with dental, vision, hearing, and prescription drug coverage. Many times this coverage is included in the all-in-one Advantage plans. Some other benefits you might receive based on your coverage and plan-specific benefits are fitness packages, over the counter drug benefits, rides to your doctor’s office, and other benefits, all depending on your plan’s specifics. Just remember that none of these benefits mentioned are included with Original Medicare, so considering a Medicare Advantage is undoubtedly an option to seriously consider when choosing your Medicare coverage.
2020 New Benefits
In 2020, more and more people have enrolled in Medicare Advantage plans. Therefore, to meet the needs of enrollees, Medicare is maximizing the competition by increasing the benefits these plans offer. Some of the new changes in 2020 include supplemental benefits for chronically ill beneficiaries. Also, Medicare Advantage plans will now provide coverage for non-medical services, such as nutrition counseling, transportation, and home-delivered meals. This type of coverage is usually referred to as “population health.” Some plans will cover the price of home improvements, such as adding wheelchair access, raised toilet seats, and safety grips in the shower. The coverage offered in a plan is unique to the policy and does not set a standard. This means that the plans have their unique benefit structure that they offer the Medicare beneficiary.
Plans are typically offered on a county by county basis and may hold a different benefit structure just one county over. This means that it is essential to do your homework on the plans offered in the county you reside in and make sure you are getting the most suitable plan for your individual financial and medical situation. We at Healthcare American can help you decide what plan you might benefit from, using, and understanding your unique situation.
For many of these services, depending on the county and the plan you choose, you might not have to pay monthly premiums, co-pays, co-insurance, and deductibles for specific medical treatments and procedures. If you do end up paying a cost-share such as a monthly premium, co-pay, co-insurance, or deductible, it will probably be less of an out-of-pocket cost-share than it would be compared to Original Medicare.
More Providers and More Benefits
In 2020, many new Medicare Advantage plans will be added. Most of these will offer dental, vision, hearing, prescription drugs, and fitness plans (as mentioned prior). There has been a significant geographical jump in plans all across the United States as well. The menu of choices among Medicare Advantage plan sponsors has also expanded. Nearly one-quarter of all Medicare Advantage recipients will have ten or more plans to choose from this year.
Why These Extra Benefits Will Succeed
As if the news of these new benefits weren’t already great for seniors, these additional benefits will likely not cost them any more money in the form of co-payments and co-insurance. Medicare Advantage plans also have maximum out-of-pocket expenses, after which the plan pays for all the expenses. The reason this trend is much more likely to work in the longer term is related to the shift in the site of healthcare delivery services from the hospital to your home. This shift is driven in no small part by technology that allows for care to occur remotely. As time passes, the resulting health benefits will add many years of quality life to many Medicare Advantage plan beneficiaries.
For any questions regarding a Medicare Advantage plan that fits you, give Healthcare American a call today!
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