Medicare, as we know, is a federal insurance program designed for Americans who need help with paying the cost of obtaining medical assistance and treatment. If you’re wondering how Medicare Advantage works, what the enrollment window is, and the cost, you’re in the right place.
What Is Medicare Advantage?
Medicare Part C, or also known as Medicare Advantage, is coverage offered by private insurance companies. Therefore, you’ll have a ton of options for determining which insurance company you want to get Medicare Advantage from. However, as many insurance companies offer this coverage, the package itself may differ in terms of services included and costs.
Generations Insurance is here to help you with this decision. Keep in mind most of these companies are either health maintenance organizations or preferred provider organizations. Medicare Advantage aims to provide services and benefits Medicare Part A and B cover, but they also offer additional benefits such as prescription drug coverage.
Eligibility For Medicare Advantage
If you want to sign up for Medicare Advantage, there are some requirements. Here we have mentioned the two most important requirements you need to check before enrolling for Medicare Advantage:
- You must be enrolled already in Medicare Parts A and B
- The patient must not have End-Stage Renal Disease
Costs of Medicare Part C
If you’re a U.S. citizen and are eligible for Medicare benefits, Medicare Advantage is a great option. It’s a great way to save money and is best for those who have lower coverage needs. If we talk about the financing of this coverage, many insurance programs with lower insurance premiums have higher deductibles. However, since Medicare Advantage has a $0 premium, you might end up paying more in terms of other expenses such as prescription costs.
The Medicare Part B premium is a cost you have to continue to pay each month. Furthermore, some costs of Medicare Advantage are the same as the extra costs you pay for Medicare Part A and B, such as coinsurance or copayments.
Why Is Medicare Advantage A Good Plan?
Medicare Advantage is quite helpful in reducing your out-of-pocket expenses due to lower deductibles, copayments, and other costs. Other than this, Medicare Advantage comes with several more benefits that you won’t find in Medicare Part A or B combined.
Medicare Experts are Ready to Help You
Do you have any questions regarding Medicare Part C coverage, cost, benefits, or enrollment deadlines? All you have to do is give us a call. Our experts will guide you.