The Medicare Advantage program provides a range of private medical plans for people aged 65 or older. These plans offer additional benefits and perks compared to the original version of Medicare. The ultimate decision on which plan to choose is one that requires careful consideration. You need to understand your unique circumstances and how this will impact your coverage going forward. Otherwise, you could end up with substandard coverage and pay more in the long run. Here are some reasons why you should pick a Medicare Advantage plan over the traditional version of the program:
You Want Supplemental Benefits Included in Your Plan
If you’re going with Medicare Advantage plans, you can expect to receive coverage for a range of benefits that come as part of the package. These can include prescription drug coverage, dental, vision and hearing aids. Depending on the plan you choose, these benefits may be included as standard or you may be required to pay a small fee each month. If you fall into the second category, you’ll want to take this into consideration when comparing plans.
You Suffer from Chronic Conditions
If you suffer from a chronic or ongoing condition, you may be entitled to additional coverage through a Medicare Advantage plan. For example, you may be eligible for coverage of physical therapy and other exercise-based treatments. This can be particularly useful if you’re recovering from surgery or dealing with a serious injury. It’s also worth considering if you have an ongoing condition such as asthma or diabetes. You may be able to avoid some of the financial strain these conditions often cause.
You Live Far from Medical Facilities
If you live in a rural or remote region, you may be entitled to additional Medicare Advantage coverage. For example, you may be eligible for a higher reimbursement rate for inpatient hospital stays. This can be particularly useful if you’re looking after an elderly relative. It can help to avoid a long journey to seek treatment in a hospital located further away.
You’re Currently Paying for Separate Insurance Already
If you’re currently paying for a health insurance policy, you may be able to combine it with your new Medicare coverage. This could help to reduce your out-of-pocket costs and help you avoid unanticipated medical bills. This may also be useful if you have dependents who rely on your coverage. If you’re combining plans, it’s important to understand what impact this will have on the coverage you receive.
One of the best reasons to select a Medicare Advantage plan is that it can help you to avoid unnecessary medical bills and debt. If you select the right plan for your needs, you can expect to receive coverage for a range of services. This can help to reduce your out-of-pocket costs and help you avoid unanticipated medical bills. These plans can also come with other benefits, such as additional prescription coverage and access to senior health screenings. While the original version of Medicare remains an excellent choice for many people, it’s important to understand the advantages of a Medicare Advantage plan.