Jefferson City, MO Medicare Advantage
Serving Jefferson City, Columbia, Osage Beach, Hermann, Fulton Missouri
Medicare Part C
Individuals who choose a Medicare Advantage plan are able to obtain healthcare from a wide variety of hospitals and doctors instead of just a select few. Furthermore, a Medicare Advantage plan is a private health insurance plan. Also referred to as Part C, Medicare Advantage plans typically contain two different networks of doctors for individuals to choose from: PPO or HMO.
Whenever you join one of these plans, you will essentially be telling Medicare to pay the plan itself a specific monthly amount in return for you being able to obtain essential healthcare, as well as the Medicare Part A & B services that your plan offers. Whenever you're enrolled in one of these plans, it's important to note that you must continue to pay your Part B premium.
Coverage Through Medicare Advantage
This type of plan requires an individual to pay co-payments whenever they receive basic healthcare services, with each plan also establishing its own cost-sharing. For instance, someone may end up paying a co-payment for a normal doctor visit and a higher co-payment for a visit to a specialist of some sort. Furthermore, there are some plans which may opt to charge you for a daily hospital co-payment, while others will charge a flat rate for your entire stay.
Of course, there are some aspects that will apply depending on the plan, such as co-payments, benefits, restrictions, and limitations, with each of them potentially changing on January 1st of every year. You should always be as diligent as possible regarding the plan materials that you receive every September in order to see exactly what, if anything, will be changing. Of course, Hutchison Insurance Group can help you with that.
Every Medicare Advantage plan is required to include an out-of-pocket maximum cap in terms of medical-related spending on your part. Currently, the maximum cap permitted is $6,700. However, there are some plans that may permit an amount that is lower than this. This should always be considered as a form of safety net in the sense that if you end up with any health-related spending that equals $6,700 out of your own pocket in just one year, then your plan will take effect and pay the rest of the costs for the rest of the year.
Medigap Plans are Different
It's important to note that a Medicare Advantage plan is not the same thing as a Medigap plan. All Medicare Advantage plans, which are also commonly referred to as Medicare Part C, are actually alternative types of coverage to Medigap plans. These plans commonly include extra incentives that the more traditional form of Medicare doesn't offer, such as hearing discounts, gym memberships, vision benefits, and more. Furthermore, these benefits tend to change every year. Another great feature of these plans is that they generally include a built-in prescription drug plan through Medicare Part D, which means that you won't have to spend the extra money in order to purchase that coverage separately.
Joining Medicare Advantage
This type of plan contains many different networks, as well as cost-sharing and premiums. The best way that you can have all of your Medicare Advantage plan questions answered is to contact Hutchison Insurance Group. Let us help you carefully consider all of the possibilities prior to selecting the right plan for you. We specialize in these plans. Get your free information and quote today!