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Valuable Tips before Picking a Medicare Advantage Plan

These days’ senior citizens can pick from different options available in usual Medicare, one amongst them is Medicare Advantage Plans. Majority of the senior people give preference to Medicare Advantage Plans as they provide increased Medicare coverage and additional benefits over Medicare. Also it must be noted that apart from these, the Advantage Plans pose lesser burden on people’s pockets.

In case, you have not done a thorough research you will be facing a tough time deciding on the insurer to pick and the amount of coverage that would be sufficient for you. Irrespective of whether you are already shelling out valuable dollars to continue your plan or planning something of that sort in near future, it will be worth spending some time getting to know more about the Medicare Advantage Plans.

Advantage Plan 2012

Sponsors of Medicare Advantage Plans:
You should make one thing clear in your mind that every Medicare Supplement Company in the United States is there to make money. They come up with the decision to bear the risk of medical bills for senior citizens because, as per their calculation, they can make much more money in comparison to what they are required to spend.

Under normal circumstances, the Federal Government helps to fund the Medicare Advantage Plans, with the help of premium paid by the Medicare recipients, along with the one that is paid to the Medicare Supplement Company directly. In such situations, the insurance company has the chance to earn revenue as they pass on the excess charges and deductibles to its consumers.

Cost of Medicare Advantage Plans:
By now you can clearly make out the cost involved in the Medicare Advantage plans and that the cost is way above than any other Medicare plan one can get in the market. Say for example, there are number of Medicare Advantage Plans which cost nothing to the seniors who are already enrolled in Medicare Part B, normally they still need paying the premium for Medicare Part B.

Depending on the type of Medicare Advantage Plan, co-pays and deductibles are still applicable. The additional benefits you pick up in your plan may ask for an additional premium. The additional benefits that can be included are as follows:

  • Dental Coverage
  • Vision Care
  • Prescription Drug Coverage

Medicare Advantage Statistics 2012

Additional Benefits of Medicare Advantage Plans:
There is a long list of additional Medicare benefits to choose from in Medicare Advantage Plans. Nevertheless these benefits are hard to find in Original Medicare plans. As described earlier, it includes dental coverage, prescription and vision care, membership in health clubs etc. The insurer may ask for referral from your primary doctor to ascertain your eligibility for these additional benefits, in addition to this, you may also be asked to meet a doctor designated by the insurer.

As you go ahead on your search for a Medicare Advantage Plan that is most suitable for you, you will find that most of the Medicare companies charge a monthly premium for such additional benefits. You can save yourself some valuable bucks in case you pick a Medicare Advantage Plan that is simple and as per your specific requirements.

Medicare Advantage Plan
Monthly Payments (Average)
Number Of MA Contracts
Advantage Plan Penetration
 
United States $734 United States 428 United States 17.5%
 
Alabama $692 Alabama 41 Alabama 15.2%
Alaska NA Alaska 39 Alaska 0.5%
Arizona $651 Arizona 50 Arizona 30.1%
Arkansas $640 Arkansas 39 Arkansas 8.23%
California $652 California 52 California 30.7%
Colorado $649 Colorado 37 Colorado 28.2%
Connecticut $681 Connecticut 40 Connecticut 9.1%
Delaware $658 Delaware 37 Delaware 2.23%
District of columbia $776 District of columbia 41 District of columbia 8.12%
Florida $840 Florida 74 Florida 23.1%
Georgia $680 Georgia 49 Georgia 8.1%
Hawaii $639 Hawaii 41 Hawaii 34.4%
Idaho $647 Idaho 40 Idaho 18.2%
Illinois $680 Illinois 56 Illinois 7.22%
Indiana $641 Indiana 45 Indiana 9.5%
Iowa $618 Iowa 42 Iowa 11.8%
Kansas $675 Kansas 44 Kansas 6.2%
Kentucky $653 Kentucky 45 Kentucky 8.4%
Louisiana $855 Louisiana 42 Louisiana 16.1%
Maine NA Maine 38 Maine 2.23%
Maryland $815 Maryland 41 Maryland 5.5%
Massachusetts $737 Massachusetts 42 Massachusetts 14.2%
Michigan $816 Michigan 44 Michigan 14.1%
Minnesota $645 Minnesota 40 Minnesota 26.2%
Mississippi NA Mississippi 38 Mississippi 6.51%
Missouri $663 Missouri 45 Missouri 15.2%
Montana $591 Montana 38 Montana 11.2%
Nebraska $650 Nebraska 37 Nebraska 8.21%
Nevada $757 Nevada 41 Nevada 29.1%
New Hampshire $653 New Hampshire 33 New Hampshire 2.1%
New Jersey $807 New Jersey 42 New Jersey 8.2%
New Mexico $651 New Mexico 41 New Mexico 20.1%
New York $811 New York 64 New York 21.2%
North Carolina $647 North Carolina 40 North Carolina 13.3%
North Dakota $591 North Dakota 37 North Dakota 5.51%
Ohio $674 Ohio 54 Ohio 17.1%
Oklahoma $666 Oklahoma 42 Oklahoma 11.3%
Oregon $647 Oregon 53 Oregon 34.3%
Pennsylvania $778 Pennsylvania 59 Pennsylvania 31.1%
Rhode Island $655 Rhode Island 37 Rhode Island 30.2%
South Carolina $646 South Carolina 43 South Carolina 8.22%
South Dakota $591 South Dakota 36 South Dakota 3.2%
Tennessee $655 Tennessee 47 Tennessee 16.1%
Texas $742 Texas 57 Texas 13.0%
Utah $644 Utah 40 Utah 16.5%
Vermont NA Vermont 34 Vermont 1.1%
Virginia $671 Virginia 43 Virginia 8.7%
Washington $644 Washington 47 Washington 19.1%
West Virginia $707 West Virginia 40 West Virginia 6.23%
Wisconsin $618 Wisconsin 46 Wisconsin 18.2%
Wyoming NA Wyoming 35 Wyoming 2.3%

 

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