Founders Life and Health Blog
You have probably seen a ton of commercials, especially if it’s the fall, about Medicare Advantage Plans and all of the extra benefits that you receive. I personally think a lot of those commercials can be a little bit misleading, which I wanted to do a little bit more of a deep dive as far as how Medicare Advantage works and talk a little bit about what those commercials are really saying.
What is Medicare Advantage?
First and foremost, what exactly is a Medicare Advantage Plan?
Medicare Advantage Plan is an alternative way for you to take your Medicare instead of just original Medicare, Parts A and B. You may have heard of Medicare Part C; Medicare Advantage Plans and Part C are the same thing.
Medicare Advantage Plans are managed by private insurance companies.
When you see all those commercials, you see different companies that are advertising their specific Medicare Advantage Plan. Medicare Advantage Plan is run by a private insurance companies. So for example, if you go to see your doctor, or if you have tests done, or even if you have a hospital stay, the doctor that you see or the hospital that you see, will bill the Advantage Plan carrier directly. And then anything that is your cost sharing afterwards will come to you. That will be your deductible, any copayments that you have or any co-insurance that you have, what’s agreed upon within your Medicare Advantage Plan.
What are the advantages of a Medicare Advantage Plan?
What are some of the cons of a Medicare Advantage Plan?
That can be a little bit restrictive if you travel a lot.
A lot of my clients that travel more that want to be all over the country or they’re snowbirds, therefore, the Medicare Advantage Plan isn’t going to work for them as well, because they would have to travel all the way back to where their original doctor is to be able to use any of their benefits.
I chose Medicare Advantage Plan, What’s next?
Things to remember if you decide that a Medicare Advantage Plan is right for you:
As you’re getting more information about Advantage Plans, be sure to talk to a Medicare advisor that can advise you on what is going to be best for your needs and for your budget. You can always feel free to reach out to us here at Founders Life and Health. We work with Medicare Advantage Plans and with Medicare supplements. And all of our services are 100% free for you.
About the Author
Hello! I’m Jo Hutchison and I’m the owner of Founders Life & Health. I’m a proud baseball mom, lover of live music and all things potato.. My husband and I have two great boys and two lazy hound dogs. My boys play a LOT of baseball so when I’m not helping my clients we can almost always be found on a baseball field somewhere in the Midwest.
I’m a member of NAIFA (National Association of Insurance and Financial Advisors) and a member of NAHU (National Association of Health Underwriters). I spend a good deal of my time working on educational outlets and working on healthcare policy change to help bring comprehensive and AFFORDABLE coverage to everyone. Nothing makes me happier than sharing the tidbits of knowledge that I know about the Medicare and health insurance world so people can make the most informed decisions about what plans they need.
The most important thing that I have learned through the years in this business is that each client has very different needs. Our goal is to listen to you, assess your needs, and use our experience and knowledge to help you make informed decisions about your health care coverage. We are an independent brokerage so we advocate for our clients, not the insurance companies.