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If you are looking for extra Medicare coverage in 2014 you can use this guide to help compare Medicare Advantage plans.
A Medicare Advantage plan or sometimes called Part C is a health insurance policy sold through private insurance carriers such as Freedom Health, UnitedHealthcare, Optimum HealthCare, WellCare, Humana and Florida Blue that covers or significantly reduces the medical costs not covered by Original Medicare.
They combine your Part A. Part B and usually offer medicare Part D benefits in an all in one plan. Medicare Advantage plans are subsidized by the government through your tax dollars many of them are low premium such as $25 or $50 a month, in fact the most popular Medicare Advantage policies dont charge a monthly premium.
Most seniors citizens will find that the Medicare Advantage plans that are available in their County will come in a few flavors most frequently PPO and HMO. There are other types of Medicare Advantage policies such as private fee-for-service (PFFs) and special-needs plans (SNP). Both have their pro’s and con’s and it’s going to be entirely dependent on your personal situation on which one will make the most sense for you. HMO Medicare health plans typically have lower out-of-pocket expenses but you’re not covered out of your network accept for emergency room visits. There are some HMO health plans that have about half the out-of-pocket cost of the PPO plans. So if you check out the provider network before signing up and you are happy with the providers the HMO Medicare health policy might make perfect sense for you.
PPO medicare health plans have a higher out-of-pocket cost than most HMO plans but you get more choices about your healthcare. You could use in-network providers and out-of-network providers with most PPO plans the difference being if you are out-of-network on a PPO plan, you will simply have a higher out-of-pocket cost. The good news is that all Medicare health plans a base set out-of-pocket maximum on HMO and PPO plans.
How do I compare Advantage plans?
There are a few factors to consider when comparing Advantage plans. If you’re choosing between a couple different Medicare supplement insurance quotes or companies. The first thing you want to take notice up is the monthly premium. The second is your maximum out-of-pocket for medical expenses. The third is the network. If your plan doesn’t have your favorite providers in its network you’ll probably want to know that up front and then decide if it’s a deal breaker. And fourth you want to look at the part D drug formerly. If you take any drugs you want to know what you’re co-pays are going to be before you sign up. You might find that one company is cheaper with the medications you take.