Most Medicare beneficiaries and their caregivers are familiar with the “Original Medicare Plan” - this is the traditional Part A, plus Part B and/or any supplemental Medigap or Part D prescription coverage you might choose. But did you know that Medicare also offers you the option of receiving your Medicare benefits through a private insurance plan? This option is called Medicare Advantage.
How Does Medicare Advantage Work?
Medicare Advantage plans are private health insurance plans that are a part of the Medicare program. Members receive their health care services through the private plan, and Medicare pays the plan a set amount of money each month for each member’s care, regardless of whether or not the member actually uses any healthcare services. Members enjoy extra benefits and lower out-of-pocket costs than they would if they were in the Original Medicare Plan, but they must see doctors and use hospitals that belong to the plan. People who are familiar with HMOs or managed care health plans in the private sector will notice that Medicare Advantage plans work the same way.
Who Is Eligible for Medicare Advantage?
People who have Medicare Parts A and B are eligible for Medicare Advantage if they live in a region where Medicare Advantage is available. Unfortunately, plans are not available in every part of the country. Medicare is working to improve access to Medicare Advantage plans for people living in rural areas. To find out if you can sign up for a Medicare Advantage plan, visit http://www.medicare.gov or call 1-800-MEDICARE.
Read on to find out more about what Medicare Advantage covers, and whether it is right for you.
