What Do Medicare Advantage Plans Cover?
Because Medicare Advantage plans are private insurance plans, they come in all shapes and sizes. Some will pay for all or part of your Medicare Part B premium. Most offer prescription drug coverage, and many offer extra benefits that are not covered under Parts A & B.
Should I Sign Up For a Medicare Advantage Plan?
Medicare Advantage Plans allow people to consolidate all of their Medicare benefits into one convenient package. They are best for people who want convenient billing - and are savvy and patient enough to sift through all of the available options to find the one that will save them the most money. For some people, this is simply too much of a hassle. But for others, the convenience of having one plan that covers everything is worth it.
Important Notice for Current Medicare Advantage Enrollees
If you are currently covered on a Medicare Advantage plan, you will receive a notice from your plan this fall that explains your options for Medicare prescription drug coverage in 2006. In many cases, you will be able to remain on your current Medicare Advantage plan without making any changes. However, you are not required to accept Medicare prescription drug coverage if you do not want it - you will also have the option of choosing a different Medicare Advantage plan without prescription drug coverage, or you can return to the Original Medicare Plan.
