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Medicare Advantage

In 2003 the Medical Modernization Act was passed and from this we get Medicare Part C Pages 55-60, or our current Medicare Advantage (MA) plans. I believe they are a fabulous addition to our original Medicare Plan, but here too, you have to be cautious. With the Medicare Advantage plans, I've had the privilege of helping thousands of folks who could not afford a Medicare Supplement to SAVE THOUSANDS OF DOLLARS.

HERE ARE THE TOP 12 THINGS YOU NEED TO KNOW ABOUT MEDICARE ADVANTAGE PLANS:


1. These are NOT MEDICARE SUPPLEMENTS.


2. You can not have both a Medicare Supplement and a Medicare Advantage plan. It is not legal.


3. Other names often used for these plans is MA (Medicare Advantage) or MAPD (Medicare Advantage with Prescription Drugs included) and Medicare Part "C".


4. You must have Medicare A & B to qualify for these plans. YOU DON'T LOSE MEDICARE A&B.


5. You don't have to be age 65 or more to qualify for these plans as you do with a Medicare Supplement (a few states do allow Medicare Supplements if you are under 65 and have Medicare A & B).


6. Basically, these plans simplify the Original Medicare copays.


7. Most of these plans do not have a deductible (except possibly in the drug portion of the plan), they have copays. 


8. Premiums are far more affordable than most Medicare Supplements, some starting at $0 premuim. HOWEVER, DON'T CONFUSE THIS WITH FREE - YOUR PART B PREMIUM IS WHAT HELPS MAKE THIS AVAILABLE.


9. HOWEVER, The biggest advantage in my opinion is they limit your loss. Every plan has a Maximum Out of Pocket where Original Medicare has no limit. After you've paid this maximum out of pocket, then the plan takes over.


10. The basic design of every Medicare Advantage plan is essentially the same. Each company tweaks their benefits to try and gain a marketing advantage. But keep this in mind, life is full of trade outs. Understanding these trade outs is important in making a good decision. 

WORK WITH A EXPERIENCED AGENT WHO CAN TELL YOU THE DIFFERENCES!


11. There are several variations offered, such as a PFFS, PPO an HMO. Make sure you know what you are looking at. By the way, have I mentioned 

WORK WITH A EXPERIENCED AGENT WHO CAN TELL YOU THE DIFFERENCES?


12. You can change plans each year during the AEP which is October 15 to December 7 and goes into effect the first of the next year.  

Bob Adams, CLTC, CCD

23 S 8th St Ste 800

Noblesville, IN 46060

Hamilton County

317-402-3171

[email protected]






Note: by calling the number above or contacting me via email you are authorizing a licensed insurance agent (ME) to contact you.

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