Philadelphia Medicare Advantage Plans have become wildly popular in recent years because they are quite efficient and a great alternative to regular Medicare. With that in mind, it’s important to understand what a Medicare Advantage Plan really is and how you can benefit from one. Here’s what you need to know.
What is the Medicare Advantage Plan?
This is a bundled alternative when compared to regular Medicare. It’s offered by private insurers, and it can deliver some incredible benefits. These plans provide the Medicare Part A benefits, so you do have hospitalization covered right from the start. Philadelphia Medicare Advantage Plans also cover Medicare Part B, which is about doctor visits. These plans also have prescription drug coverage, Medicare Part D. Depending on the situation, you may have other benefits like hearing aid, glasses, eye exams, and routine dental care checkups, among many others.
Is it better than the original Medicare?
One thing to note about Philadelphia Medicare Advantage Plans is that they can be limited to provider networks. In case you go outside of that network, you either have to pay a lot more, or you won’t be covered at all. That being said, you do pay a lot less. Sometimes the Medicare Advantage plans can even come with a certain out-of-pocket limit for the total care. So you might have to pay extra if you get past that limit. While it’s restricted, it definitely has its fair share of benefits, so that’s certainly something you want to take into consideration.
Evaluating the Philadelphia Medicare Advantage Plans
Ideally, you want to understand the benefits of what’s included in every plan. Additionally, you want to check the star rating for that plan too. You also want to know if your particular doctors are covered by the plan or not. The same thing can be said about the prescription drugs that you are currently taking. In case you have chronic health issues, you want to have accepted health coverage.
Medicare Advantage pros
The benefits are quite impressive here. You have lower premiums for your coverage, and you also receive additional benefits regarding things like dental, hearing, or vision care. You are also limited to how much you will need to pay out of pocket for your medical and hospital coverage.
Medicare Advantage cons
Not a lot of freedom for choosing medical providers would be a downside. You also need to stay within a certain network if you want to be fully accepted and enjoy all the benefits. It’s also a lot harder to switch to the regular Medicare. And yes, it’s also possible for the plan to end.
Picking the right Philadelphia Medicare Advantage Plans is a very good idea and it does take a bit of time to identify how to do that properly. A bit of trial and error might be needed, but it’s important to find a plan that suits your needs and requirements. That’s what will make the process a whole lot easier!