Medicare Advantage Plans
Due to the latest Health Care system changes there are quite a few changes for Medicare Advantage Plans. Given massive federal deficits, Washington faces increasing pressure to cut Medicare spending.
How does this affect Medicare Advantage Plans?
The Centers for Medicare and Medicaid Services (CMS) recently released information about the Medicare Advantage plans that are currently available.
The good news is that, on average, Medicare beneficiaries are still able to choose from a wide variety of Medicare Advantage plans, in addition to traditional Medicare. The mix of Medicare Advantage plans offered is however constantly changing as carriers respond to current and anticipated changes.
The total number of Medicare Advantage plans has declined steadily, with mostly fewer Private Fee-For-Service (PFFS) plan offerings. Health Maintenance Organizations (HMOs) remain the most common type of Medicare Advantage plans. Insurance providers withdrawing from the PFFS market are continuing to offer coordinated care plans (mainly HMOs) and new plans of various types. Other companies will continue to offer only HMO and cost plans.
If you have already a Medicare Advantage Plan, how does it affect you?
Fewer MA-PD enrollees will be in plans with no premium, if they stay in their plans. However, a plan with no premium does not necessarily represent the best value for enrollees because out-of-pocket costs are affected by a combination of premiums, covered benefits and cost-sharing requirements.
Beneficiaries who decide to remain in their Medicare Advantage plan can expect premium increases, although the increases will obviously vary from plan to plan. Premiums are rising faster for some types of Medicare Advantage plans than others. Thus, beneficiaries may find it in their interests to review and compare Medicare Advantage Plan options each year, taking into account premiums, benefits, cost-sharing, and provider networks, to select the option most likely to meet their individual needs and circumstances.
Remember, you can only make changes to your Medicare Advantage plan at certain times: during the open enrollment period from October through December of each year.
If you don't have a Medicare Advantage Plan yet, is this a good time to enroll?
Many experts believe now is a good time to enroll in a Medicare Advantage Plan. Even when fewer plans with zero additional cost over your Part B premium might be available in the future and the premiums are rising, fact is that with a Medicare Advantage Plan you generally pay lower co-payments and get additional benefits such as coverage for extra days in the hospital, vision, dental, hearing, and preventing services like annual physicals and coverage for emergency services while traveling or even fitness programs.
It is definitely worth checking out your options of Medicare Advantage Plans available to you. To see which plans are available in your area and compare free quotes from providers such as Aetna, Anthem, Health Net, Humana, Kaiser Permanente, Secure Horizon, United Healthcare and other Medicare approved health insurance companies without any obligation, please visit Medicare Advantage Plans.
How does this affect Medicare Advantage Plans?
The Centers for Medicare and Medicaid Services (CMS) recently released information about the Medicare Advantage plans that are currently available.
The good news is that, on average, Medicare beneficiaries are still able to choose from a wide variety of Medicare Advantage plans, in addition to traditional Medicare. The mix of Medicare Advantage plans offered is however constantly changing as carriers respond to current and anticipated changes.
The total number of Medicare Advantage plans has declined steadily, with mostly fewer Private Fee-For-Service (PFFS) plan offerings. Health Maintenance Organizations (HMOs) remain the most common type of Medicare Advantage plans. Insurance providers withdrawing from the PFFS market are continuing to offer coordinated care plans (mainly HMOs) and new plans of various types. Other companies will continue to offer only HMO and cost plans.
If you have already a Medicare Advantage Plan, how does it affect you?
Fewer MA-PD enrollees will be in plans with no premium, if they stay in their plans. However, a plan with no premium does not necessarily represent the best value for enrollees because out-of-pocket costs are affected by a combination of premiums, covered benefits and cost-sharing requirements.
Beneficiaries who decide to remain in their Medicare Advantage plan can expect premium increases, although the increases will obviously vary from plan to plan. Premiums are rising faster for some types of Medicare Advantage plans than others. Thus, beneficiaries may find it in their interests to review and compare Medicare Advantage Plan options each year, taking into account premiums, benefits, cost-sharing, and provider networks, to select the option most likely to meet their individual needs and circumstances.
Remember, you can only make changes to your Medicare Advantage plan at certain times: during the open enrollment period from October through December of each year.
If you don't have a Medicare Advantage Plan yet, is this a good time to enroll?
Many experts believe now is a good time to enroll in a Medicare Advantage Plan. Even when fewer plans with zero additional cost over your Part B premium might be available in the future and the premiums are rising, fact is that with a Medicare Advantage Plan you generally pay lower co-payments and get additional benefits such as coverage for extra days in the hospital, vision, dental, hearing, and preventing services like annual physicals and coverage for emergency services while traveling or even fitness programs.
It is definitely worth checking out your options of Medicare Advantage Plans available to you. To see which plans are available in your area and compare free quotes from providers such as Aetna, Anthem, Health Net, Humana, Kaiser Permanente, Secure Horizon, United Healthcare and other Medicare approved health insurance companies without any obligation, please visit Medicare Advantage Plans.
