What is a Medicare Advantage policy?
Medicare Advantage Policies sometimesreferred to as “Part C” or” MAPD or MA Policies,” are akind of Medicare health policy offered by private insurance companies approvedby Medicare. Each month, Medicare pays a set amount to the insurance companiesthat administer those policies. Medical claims for Part A and B will be sent tothe policy for payment and not directly to Medicare. Get quotes for AARP advantage plans at www.medicareadvantageplans2019.org/aarp-medicare-advantage-plans-for-2019/for the upcoming year.
Medicare Advantage policies cover all benefits covered by Medicare and may provide additional benefits. Many Medicare Advantage policies also include prescription drugs, so you do not need a separate Part D policy. In fact, signing up for a separate prescription drug policy will usually result in automatic closing of your Medicare Advantage policy.
Some Medicare Advantage policies also offer routine dental, vision and hearing services; and a 24 hour nurse hotline, memberships for physical conditioning and chronic disease management.
Unlike the original Medicare andtraditional Medicare supplements, Medicare Advantage policies have networkssuch as preferred provider organizations, private rates for services and healthcare organizations. It is imperative to know what type of policy you areenrolling in, since a doctor outside of the policy’s network can result inhigher costs and, sometimes, even without coverage. Medicare Advantage policies may have different rules for using services, such as: if you need a referral to see a specialist, or require prior approval for certain prescription drugs.
Expenses associated with a Medicare Advantage policy
Below the original Medicare system, you pay a Part B premium, which is normally automatically deducted from your Social Security check: in 2015, it was $ 104.90. To register for Medicare Advantage policy, you must register for Medicare Part A and B, and you will still pay that premium for Part B.
Even below Original Medicare, Medicaregenerally covers 80% and you will pay the remaining 20%. The annual maximumlimit is what makes a Medicare benefit policy often attractive. This is animportant protection for beneficiaries of Medicare. Medicare Advantage policies will charge a monthly premium that varies by location. These premiums are often less than what you would pay for a traditional Medicare supplemental plan. However, in exchange for a lower premium, you will be required to pay co pays, co insurance and deductibles for each medical service you receive.
Who can sign up for a Medicare Advantage policy?
• people over 65 years
• People below 65 with a Medicare disability.
• Must own Medicare Parts A and B
• You must live in the policy’s service area.
• You cannot have end-stage renal disease (ESRD).
When can I register?
• Within the initial coverage election period (ICEP): the 7 months period during which you became eligible for Medicare for the first time (3 months before, the current month and 3 months after).
• During the annual election period – October 15 to December 7 of each year
• During a special election period (SEP): there are certain circumstances that allow you to enroll in a Medicare Advantage policy outside the first two periods of enrollment, such as: moving to a new service area, starting or leaving the nursing home, receive or lose extra help or losing employer protection involuntarily