Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Medicare Part C and other Medicare topics.
Medicare Advantage plans are health care options, most commonly HMOs and PPOs. The plans are approved by Medicare but run by private companies. Sometimes they are called Medicare Part C. Medicare Advantage plans include health care covered by Medicare in a single plan. You get your Part A and Part B Coverage, and most Medicare Advantage Plans also have drug coverage. If you have a Medicare Advantage plan all of your costs are covered through this plan rather than Original Medicare.
In addition to HMOs and PPOs there are other types of Advantage plans. Private Fee-for-Service Plans let you go to any Medicare-approved doctor or hospital that accepts that plan. This plan decides how much it pays for give services. Medicare Medical Savings Account Plans (MSA) provide Part A and B coverage. You pay no monthly premium but there is a high deductible and you pay the Part B premium. You must pay bills for Medicare-covered services. You can use funds in your account to do so. Such plans don’t have drug coverage.
Medical Special Needs Plans are limited to people who have specific diseases or conditions. These include (but are not limited to) diabetes, HIV/AIDS, and congestive heart failure. People who live in institutions like nursing homes and those who qualify for Medicare and Medicaid can also get such plans. They always have prescription coverage.
|Sheri Ann Richerson|