Art of Insurance Blog
If you have the Original Medicare insurance at hand and your employer offers you a Medicare Advantage Plan without telling you full details about it, then read on further to know more about it. These frequently asked questions may give you enough insights.
What are Medicare Advantage Plans?
Medicare Advantage Plans are other ways to receive Medicare coverage. They are sometimes called “MA Plans” or “Part C.” Medicare-approved companies offer them to their employees, but must also follow the regulations set. If you join a Medicare Advantage Plan, you will still have the necessary Part A and B insurance coverage. However, your Hospital Insurance (Part A) and Medical Insurance (Part B) will most likely come from your plan, instead of the Original Medicare.
How Do They Work?
When you join an Advantage Plan, Medicare gives a fixed monthly payment for your coverage to the company that offered the premium, along with the requirement that they follow the regulations. These Advantage Plans also have contracts with Medicare annually, where you get notified with any changes before the enrollment year starts. If you join, you will still have all the same protections and rights that the Original Medicare offers.
What is Covered?
As mentioned above, the premium still covers both Part A and B services. However, despite being in an Advantage Plan, Original Medicare will even provide cover for new benefits and costs for hospice care and clinical research studies. Other plans also offer extra coverage, including dental, hearing, vision, and other programs relating to health and wellness. They also have annual limits on out-of-pocket payments for the covered Part A and B services.
Who Can Join a Medicare Advantage Plan?
You can join if:
What if I Have Other Coverage?
You can discuss with your union, employer, or any other benefits administrator about their set regulations before you apply for a Medicare Advantage Plan. In some instances, you may still be able to use your union or employer coverage along with your plan. However, in some other cases, you might lose your previous coverage for your dependents, spouse, and yourself.
Upgrading to a Medicare Advantage Plan can be very helpful. Not only do they provide extra coverage, but they also still hold the same benefits that the Original Medicare offers. Invest in one now!
At Art of Medicare, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (702) 776-7726 or Click Here to request a free quote.