How Does Medicare Advantage Plans Work?

Medicare Advantage Plans are often called Preferred Provider Organizations or PPOs. They are Medicare plans designed to provide more personalized care to patients who are eligible. To find out more about the differences between Medicare Advantage Plans, read on. Learn about Medicare advantage plans for 2020.

A Medicare Advantage Plan provides medical care at lower rates than Medicare. This includes doctors, hospitals, laboratories, nursing homes, physiotherapy, physical therapy, and diagnostic imaging. The cost is less than what Medicare pays for the same services and tests in traditional Medicare. Your monthly premiums are a set amount that you pay each month, regardless of how much you use your Medicare benefits.

You get all of the benefits and convenience of traditional Medicare with the freedom to choose the doctor and other health care providers. Unlike traditional Medicare, you do not have to take time off from work or pay the premium cost into your savings account, unless you want to.

You can see the benefits of the Advantage Plans with your private insurer. Your medical providers are chosen by your insurer and are contracted to them. With this type of relationship, you get less of a hassle when it comes to finding a new doctor or specialist.

If you have an existing doctor that does not accept your new insurance, you will still be able to see him if he accepts Medicare. An Advantage Plan gives you the freedom to switch health care providers without having to pick a new one.

When your insurance policy expires, Medicare will continue to pay your insurance coverage until the policy is fully paid off. Then you will be back to the same monthly premiums. The advantage of an Advantage Plan is you will only be billed once per policy year. No more bills to deal with.

Some policies offer one payment for one policy year. If you chose to take advantage of this one-payment policy, you only need to make one payment to your Medicare Advantage Plan provider.

If you prefer to keep your physician or hospital under contract for another year, you can choose another provider. The Advantage Plan will take care of billing and the provider will be paid one payment to care for your Medicare beneficiaries during the entire year. In addition, you will only have to make one payment per year.

Medicare Advantage Plans, unlike traditional Medicare, has no limits on the number of visits you can make to your primary care physician, or other specialists. You can see as many doctors and specialists as you wish. You do not have to pay a co-payment if you use your Medicare benefits to see an emergency room physician or other emergency hospitalization.

With Traditional Medicare, you cannot choose to see a specialist at the same hospital that treats your regular doctors. The cost of visiting your regular doctor would be deducted from your Medicare Benefits when you visit your primary care physicians. However, with an Advantage Plan, you will be able to see just about any doctor or health care provider you wish.

There are no deductibles or copays and very convenient benefits. Unlike traditional Medicare, you do not have to have a cosigner, and there are no annual limits.

You can choose to enroll in the plan of your choice – there are no locked in contracts – with a Medicare Advantage Plan. It is true that you have to make monthly premiums to fund the benefits, but as long as you meet the requirements, your coverage is automatic. What is even better is that you can choose your preferred physician, hospital, or laboratory.