3 Reasons to Consider a Medicare Advantage Plan

With Medicare’s Annual Election Period in full swing, you may have received calls, emails, and mail promoting a Medicare Advantage plan. These Part C plans become more popular each year, and this year is no different. 

Medicare Advantage plans are not for everyone, but today, we’re going to share three reasons why you might consider a Medicare Advantage plan.

Reason 1: Convenient All-in-One Medicare Solution

The federal Medicare program is not simple. While enrolling in Medicare when you turn 65 may sound easy, you actually have many choices to consider when enrolling in plans. In some cases, this can result in several plans being used for different medical services.

For example, you may have a Medicare card, a Medigap card, a dental insurance plan, and a Part D prescription drug plan card. That’s quite a few ID cards to be stashed in your wallet or purse! It can be difficult to keep track of all these plans and very confusing to know which one serves what purpose.

That problem can be solved with a Medicare Advantage plan. When you enroll in Medicare Advantage, it will “replace” your coverage under Original Medicare. We put replace in quotation marks because technically, you still have Original Medicare and are required to pay the Part B premium. The difference is that instead of your claims going to the federal government, they go to the private insurance carrier.

In this case, you won’t need a Medigap plan to supplement your Original Medicare coverage, nor will you need a Part D plan for drug coverage (in most cases). The same is true of dental, vision, and hearing benefits. All of this coverage is bundled into one convenient Medicare Advantage plan. You’ve only got one plan and one ID card to worry about!

Reason 2: Low Monthly Premiums

Another reason to consider a Medicare Advantage plan is the low monthly premiums. Most Medicare beneficiaries even have access to $0 plans. Of course, that doesn’t mean that these plans are free. You’ll have out-of-pocket costs based on the services you need. For example, a visit to your primary care physician may cost $20, and an outpatient surgery may cost $200. Every Medicare Advantage plan is different, so be sure to read the summary of benefits and associated costs before enrolling.

Still, if you are looking to keep your monthly expenses to a minimum, you can get all the coverage we mentioned earlier for a very small premium. If you are a relatively healthy individual and don’t expect many out-of-pocket healthcare expenses, this might be a great option for you.

Reason 3: Extra Benefits

We said this earlier, but it’s certainly worth repeating. Medicare Advantage plans often include benefits you won’t find in Original Medicare (with or without a Medigap plan). Every Medicare Advantage plan must offer at least as much coverage as Parts A and B, but most offer much more than that.

Medicare Advantage plans have many bells and whistles. You can find plans with dental coverage (including implants!), eyeglass coverage, prescription coverage, gym memberships, over-the-counter medication stipends, transportation, and meal delivery. Be sure to read through all of the documentation to ensure you take advantage of all these extra benefits.

Get Medicare Help During AEP

Don’t let AEP pass you by. Even if you love your current Medicare plans, it’s always wise to review them during the Annual Election Period. Medicare Advantage and Part D plans typically change every year, so it’s good to review your plan and shop for other coverage. Even if you decide to keep your current plans, at least you’ll have peace of mind knowing your plan is still the right one for you. Call Local Medicare Specialists today to schedule your Medicare plan review!