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.

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

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.