V. Reed Speas II - Medicare Insurance Agent FL
Office Phone : (239) 288 - 0880 Website Link: www.Medicare-Deductible-F-Agent.comPersonal Email: V.Reed.Speas@gmail.com

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Choosing the Medicare Advantage Plan that best fits you

Medicare is health insurance for persons over 65 years of age or persons who are under 65 years of age with certain disorders.  Medicare can be explained by dividing it into four parts (Part A, B, C, or D). 

Explanation of the parts of Medicare:

Medicare Part A is hospital insurance and covers hospital care.  Part A is usually at no cost to you because you paid for Medicare Part A with your taxes while you were employed and paying taxes.
Medicare Part B is medical insurance and covers doctors’ costs, outpatient care, home health care, and some preventive services.  Medicare Part B requires an additional monthly premium.
Medicare Part C (Medicare Advantage) is an option offered through private insurance companies that covers the services offered in Part A and Part B, and occasionally in Part D.
Medicare Part D is a plan to help cover the costs of prescription drugs.  A Part D plan may also prevent higher drug costs and Part D plans are offered by Medicare approved insurance companies.

Why choose an advantage plan?

Currently there are nearly 13 million Americans enrolled in a Medicare Advantage plan, about ¼ of those eligible for Medicare.    Medicare Advantage plans are government approved health care plans that are offered through private insurance companies.  These plans cover the same benefits that a Medicare Part A and a Medicare Part B plan would cover; however many have extra benefits that may include vision coverage, dental coverage, or hearing.  Some Medicare Advantage plans will also have an allowance for prescription drugs, similar to a Medicare Part D plan.  These plans require treatment within a network similar to HMO plans or PPO plans.  The Medicare Advantage plans are also considered a better option or healthier retirees because they cost less than the traditional Part D and Medigap plans; however the deductible is sometimes more with the Advantage plans.

When deciding whether to choose a Medicare Advantage plan, you should consult your doctor to see which plans they accept.   This will give you an idea of which options you have if you plan on retaining your current physician.  You can also use the Medicare Finder’s Tool to help you in this decision:  www.medicare.gov/find-a-plan.  As you are reviewing your options for coverage you should consider the following things:  drug coverage, cost, out-of-network coverage, extra benefits, locations, and retiree benefits. T

Drug coverage:
Check to see if your prescriptions are covered under the plan or whether you will be required to try different medications beforehand. The open enrollment period for Part D is October 15 - December 7.

Costs: Look at deductibles and premiums.  Research maximum out-of-pocket expenses.  Look at copays and what services are covered.  You are not allowed to purchase a separate Medigap plan when you are on an Advantage plan.

Out-of-network Coverage: Plans require you to use in-network doctors, so you need to research what happens in an emergency situation.  Take into account whether you live in the same area year round or whether you split your time between residences.

Extra Benefits: Get the details on any extra benefits (dental, hearing, or vision coverage).

Locations: Make sure the doctors in your area, the hospitals, and facilities near you are covered by the plan you choose.

Retiree Benefits: Ensure that any benefits you retain from your previous employer are covered by the plan you choose.  Consider speaking to the benefits personnel to ensure you have a plan that coincides with your earned privileges.

Video of How to use the Medicare.gov website to find a Medicare Part C Advantage Plan

Written explanation of video :Find A Medicare Part D Plan

**The information on this website is intended for informational purposes only and may change at any time.   Medicare Supplement Advisor and V. Reed Speas himself are not connected with or endorsed by the U.S. government or the federal Medicare program.