Understanding Insurance Policies

Should You Get A Medicare Advantage Plan?

22 July 2022

Samantha Reynolds

Are you interested in signing up for a Medicare Advantage plan, but do not know a lot about it? You'll definitely want to know about this form of health insurance to determine if it is right for you.

The Network

It's important to look into all of the providers that are in-network with your Medicare Advantage plan before you sign up. Much like any insurance plan, there are different networks that include different providers. You should look into all the providers that you use for all your medical needs because you do not want to be caught off guard by finding out that a specialist or vendor is not in your example.

For example, your primary care doctor may be in your network, but is the company that does the lab work in the network? If you have a provider that supplies you with durable medical equipment, you'll want to make sure that they are included in your network as well.

The Annual Changes

Be aware that Medicare Advantage can change the plans from year to year, unlike Medigap coverage which will be consistent. You need to be prepared to check the changes each year so that you understand what your insurance offers. If you are not prepared to read about the changes, then Medicare Advantage may not be right for you. However, anybody that is able to read and understand how their insurance is changing may find that they want to take advantage of the benefits Medicare Advantage can offer. 

The Premiums

You'll find that the premiums for Medicare Advantage are quite low when compared to Medigap coverage. In some situations, you can even see zero-dollar premiums. This can be great for people that are on a fixed income and want to spend as little as possible on their insurance. Of course, there will be co-pays associated with going to the doctor, so you do have some costs as you use your insurance. 

The Qualification Process

Know that you won't have to answer any health questions when signing up for Medicare Advantage. This is different from Medigap coverage, which does have a health screening when signing up. This is often a problem with people that do not enroll in Medigap coverage while they are healthy, and want to switch to a different type of insurance as they get older and need to see a doctor more often. Medicare Advantage will always be an option for you. 

Reach out to a Medicare Advantage plan provider to learn more.

Share