What is a Medicare Advantage Plan
Women's Health - Medical Insurance

While Medicare Advantage plans are not a new offering to the Medicare eligible population they are a lesser known offering. Many have questions about what the plans are and how they work. Medicare Advantage plans are plans that are administered by private insurance companies. Essentially, the private insurance company will handle all the administration for the Medicare eligible subscriber. The subscriber will continue to pay their Medicare Part B premium as before but will have an insurance card from the private insurance company and all claims will be filed through the private insurance company.

The advantages of enrollment in a Medicare Advantage plan could include richer benefits and often times additional programs that may be made available to the subscribers by the private insurance carrier. In exchange the subscriber will oftentimes pay an additional premium. However, some plans may be available in some markets for no additional premium.

There are many different types of Medicare Advantage Plans available including HMO's, PPO's, and PFFS plans. These plans can also be paired with a Medicare Part D benefit. Having combined Medicare Advantage and Medicare Part D coverage could greatly simplify the health coverage for the senior by giving them a single ID card, a single customer service number to call, and a single premium to the private insurance carrier.

It is important, however, before choosing to enroll in a Medicare Advantage Plan to make sure that your provider does accept these plans as many of them are based on networks.

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